Saudi’s ACWA Power, Chinese entities ink MoUs during China-Arab Summit

Saudi’s ACWA Power, Chinese entities ink MoUs during China-Arab Summit

ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, has signed a series of Memorandums of Understanding (MoUs) agreements with nine renowned Chinese entities.

The agreements were signed during the 1st China-Arab Summit and coincided with the state visit of Mr. Xi Jinping, President of the People’s Republic of China. The agreements will lay the ground for financing, investment and construction of ACWA Power’s global clean and renewable energy projects in Saudi Arabia and Belt and Road Initiative countries.

ACWA Power signed MoUs that relate to financing, investment, engineering procurement and construction contracts and renewable energy equipment procurement in its clean and renewable energy projects. The strategic partners from China include the Industrial and Commercial Bank of China (ICBC), Bank of China, SPIC Huanghe Hydropower Development Company, China Southern Power Grid International, Power China International Group, China Energy International Group, Jinko Solar Company, Sungrow Power Supply Company and Jolywood Solar Technology Company.

Mohammad Abunayyan

Chairman

ACWA Power “ACWA Power’s solid and growing relationship with major Chinese entities has contributed to our leading position in driving the global energy transition and reflects the valuable ties between Saudi Arabia and China. As a leading developer of power,