Acwa has secured contracts based on record low costs for electricity from solar projects; but it is equally keen in its pursuit of coal, oil and gas-fired power.

Saudi private power and desalination project developer Acwa Power has won renewables projects in recent years that have helped establish the Mena region as a low-cost base for renewables projects, though few have yet to get built. Acwa has been awarded a series of Mena solar projects at record-low prices. But the company’s...