RIYADH: In a significant move for the global green energy landscape, Saudi Arabia’s ACWA Power has signed memorandums of understanding with two major Chinese firms.
These agreements encompass green hydrogen and ammonia production, as well as global renewable energy initiatives and integrated smart energy solutions, according to a press release.
The MOUs were formalized with China Southern Power Grid International Co., a state-owned entity, and MingYang Smart Energy Group, a clean energy integrated solutions provider.
The signings took place during the China–Saudi Arabia Economic and Trade Cooperation Conference held in Riyadh, the release added.
In his keynote address at the conference, Mohammad Abunayyan, chairman of ACWA Power, highlighted the growing economic partnership between Saudi Arabia and China.
He expressed his firm’s commitment to furthering this collaboration, emphasizing its role in building a sustainable future.
“We are excited to continue working with our hinese 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,” said Abunayyan.
He added that ACWA Power is committed to contributing to the energy transition under Vision 2030, and said: “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.”
ACWA Power has a history of successful collaborations with Chinese companies, including the installation of Central Asia’s largest wind turbine in partnership with China Energy Engineering Corp.
Additionally, the company awarded the engineering, procurement, and construction contract for the Rabigh 4 desalination project to a consortium comprising Power China, SEPCOIII, and WETICO.
Furthermore, ACWA Power has initiated innovative projects in local renewable energy and storage developent in cooperation with Huawei Digital Power, the press release added.
The company has previously signed multiple MOUs with major Chinese entities, including China Southern Power Grid International Co., during the first China-Arab Summit