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Saudi’s ACWA Power inks clean energy deals with Chinese firms

Saudi-listed ACWA Power has signed key MoUs with two Chinese firms to promote collaboration in areas such as green hydrogen and ammonia, global renewable energies, and integrated smart energies.

The agreements were inked with state-owned China Southern Power Grid International Company and clean energy integrated solution provider MingYang Smart Energy Group, during the China (Guangdong) – Saudi Arabia Economic and Trade Cooperation Conference, held in Riyadh on September 11.

Mohammad Abunayyan, chairman of ACWA Power, who delivered a keynote speech at the conference, said: “I am delighted to be here today to discuss the growing economic cooperation between Saudi Arabia and China.

“We have been at the forefront of this cooperation, and we are excited to continue working with our Chinese partners to build a more sustainable future. Signing the two MoUs will strengthen our collaboration in green hydrogen and ammonia, global renewable energies, and integrated smart energies.”

ACWA Power-Chinese partnership is aligned with Vision 2030

“ACWA Power is committed to contribute the energy transition under Vision 2030, and we believe that our partnership with Chinese companies is essential to this effort as they have played a significant role in the development of renewable energy in Saudi Arabia,” added Abunayyan.

In the past, the energy company has partnered successfully with Chinese companies in installing the largest wind turbine in Central Asia with China Energy Engineering Corporation and awarding the EPC contract for Rabigh 4 desalination project with a consortium of Power China, SEPCOIII and WETICO. Strong ties have seen the signing of an agreement to enable innovation in local renewable energy and storage development with Huawei Digital Power.

The Saudi firm has also signed a series of MoU agreements with nine renowned Chinese entities, including China Southern Power Grid International Company, during the 1st China Arab Summit.