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ACWA Power signed nine memorandums of understanding (MoUs) with nine Chinese entities that will lay the ground for financing, investment and construction of the utility provider's global clean and renewable energy projects in Saudi Arabia, as well as in the Belt and Road Initiative countries.
In a statement, the company said the strategic partners from China include Industrial and Commercial Bank of China (ICBC), Bank of China, SPIC Huanghe Hydropower Development Co., China Southern Power Grid International, Power China International Group, China Energy International Group, Jinko Solar Co., Sungrow Power Supply Co. and Jolywood Solar Technology Co.
The MoUs were signed during the 1st Riyadh Arab-China Summit for Cooperation and Development and coincided with Chinese President Xi Jinping's visit to the Kingdom.
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