ACWA Power Co. headquarters
ACWA Power Co. signed seven memoranda of understanding (MoUs) with Chinese companies during the third Belt and Road Forum in Beijing for cooperation in solar, green hydrogen and water desalination projects.
The agreements reaffirm ACWA Power’s commitment to collaborative sustainable development by leveraging its ongoing partnership with Chinese investors, financiers, EPC contractors and material suppliers, the company said in a statement today.
The MoUs were signed with entities including State Power Investment Corp., one of China’s largest state-owned power generators; Beijing-headquartered Bank of China; civil engineering firm Power China Group; power and infrastructure solutions provider Energy China Group and solar panel manufacturer Jinko Solar.
“Looking to the future, we see significant potential for continued collaboration under the Belt and Road Initiative, aligning seamlessly with the goals of Saudi Arabia’s Vision 2030," said Chairman Mohammed Abunayyan.
"We are dedicated to nurturing this enduring partnership. ACWA Power is resolute in our commitment to the Chinese market and we recognize the critical role we play in the global clean energy landscape,” he added.
ACWA Power’s association with China began in 2009 with the establishment of a Beijing office.
Since then, Chinese investors and financiers have contributed a total of $10 billion across ACWA Power's global project portfolio.
Chinese EPC contractors, material suppliers, and financiers have participated in 47 projects and signed contracts worth more than $30 billion, covering landmark renewable, green hydrogen and seawater desalination projects worldwide, Abunayyan added.
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