ACWA Power signs MOUs worth $500M with US companies

Logo of ACWA Power Co.

ACWA Power Co. signed Memorandums of Understanding (MoUs) with US companies, totaling $500 million, at the Saudi–US Investment Forum in Riyadh.

These agreements build on ACWA Power’s existing partnerships with American firms, which now exceed $6 billion, it added.

ACWA Power will collaborate to deploy advanced tracker technologies for photovoltaic solar energy projects. This partnership aims to reduce energy costs and increase local production capabilities. It is also partnering with GE Vernova to test and implement innovations in core equipment for combined-cycle gas turbine projects, and electricity transmission and distribution systems in the Kingdom.

A separate agreement includes ACWA Power’s partnership with Baker Hughes to test and implement innovations in green hydrogen production, through developing electrolysis solutions and enhancing the safety and efficiency of hydrogen production, with potential for domestic manufacturing.

ACWA Power also announced its partnership with KBR STS n large-scale projects, utilising KBR’s ammonia technology and engineering services, while ensuring effective management of the programs.

Another agreement involves a collaboration with Energy Recovery on research to explore potential avenues of collaboration under the theme of Joint Research for Energy-Saving Operation Technologies of the PXs in Seawater Desalination Plants.