Riyadh, Saudi Arabia/Guangdong, China — Saudi-listed ACWA Power has signed MoUs with two Chinese firms to bolster collaboration in China and globally in green hydrogen and ammonia, global renewable energies and integrated smart energies.
The agreements were signed with state-owned China Southern Power Grid International Company and clean energy integrated solution provider MingYang Smart Energy Group Limited, during China (Guangdong) – Saudi Arabia Economic and Trade Cooperation Conference in Riyadh on 11 September.
ACWA Power has a history of collaborations with Chinese companies such as installing the largest wind turbine in Central Asia with China Energy Engineering Corporation (CEEC); awarding the EPC contract for Rabigh 4 desalination project with a consortium of Power China, SEPCOIII, and WETICO; the agreement to spur innovation in local renewable energy and storage development with Huawei Digital Power, and signing a series of MoU agreements with nine renowned Chinese entities, including China Southern Power Grid International Company, during the 1st China Arab Summit.
Mohammad Abunayyan, Chairman of ACWA Power, said, “I am delighted to be here today to discuss the growing economic cooperation between Saudi Arabia and China. ACWA Power has been at the forefront of this cooperation, and we are excited to continue working with our Chinese partners to build a more sustainable future.”
In December last year, ACWA Power signed a $1.5 billion agreement with Power China, which included MoUs that relate to financing, investment, engineering procurement and construction contracts and renewable energy equipment procurement in its clean and renewable energy projects.
In March 2023, the company signed three power purchase agreements and investment agreements valued at $2.5 billion with Uzbekistan to develop solar photovoltaic (PV) and battery energy storage systems (BESS) in several cities of the central Asian nation.
The pacts were signed with Uzbekistan’s Joint-Stock Company (JSC) National Electric Grid of Uzbekistan (NEGU) and Ministry of Investment, Industry and Trade.
In April, ACWA Power said it will construct a 1,000-megawatt solar power plant in Iraq, the first clean energy project in the country.   Â
According to its electricity minister, the joint venture project will be developed in Central Iraq’s Najaf city, around 160 km south of the capital, Baghdad. Â
Read full story here: ACWA Power to build 1,000 megawatt solar power plant in Iraq