China-Arab States Summit: Sungrow and ACWA Power signed cooperation agreements to contribute to the Belt and Road initiative and Saudi Vision 2030

China-Arab States Summit: Sungrow and ACWA Power signed cooperation agreements to contribute to the Belt and Road initiative and Saudi Vision 2030

RIYADH, Saudi Arabia /PRNewswire/ -- Recently, the first China-Arab States Summit was held in Riyadh, Saudi Arabia. Chinese President Xi Jinping was invited to attend and pay a state visit to Saudi Arabia. During the summit, the Chinese delegation signed 34 agreements with Saudi Arabia and Saudi organizations related to energy, security, investment, and other sectors.

Witnessed by His Excellency Khalid A. Al-Falih, Minister of Investment of Saudi Arabia, and Mohammad Abunayyan, Chairman of the Board of Directors of ACWA Power, Sungrow, the global leading inverter and energy storage system solution supplier, and ACWA Power, leading Saudi developer, investor and operator of power generation, water desalination and green hydrogen projects worldwide, signed a strategic cooperation agreement to promote close cooperation between China and Saudi Arabia in the renewable energy industry and contribute to the Belt and Road initiative, as well as Saudi Vision 2030.

During the summit, Sungrow and ACWA Power also signed a memorandum of understanding (MoU) to provide a 536MW/600MWh energy storage system for NEOM, further deepening strategic cooperation between the two parties.

NEOM, a smart city, is one vital element of Saudi Arabia's move from its dependence on oil to a greener future, aiming to achieve exceptional livability, thriving businesses