Clean energy: Saudi’s ACWA Power signs key agreements with these European entities

Clean energy: Saudi’s ACWA Power signs key agreements with these European entities

Image: ACWA Power

Saudi-listed ACWA Power has signed strategic agreements with six Italian partners at the Saudi-Italian Investment Forum in Milan on September 4.

These deals will enable cooperation in areas such as green hydrogen, water desalination, and research and development.

The agreements were signed during the Saudi-Italian Investment Forum, which is jointly hosted by Saudi Arabia’s Ministry of Investment (MISA), Italy’s Ministry of Enterprises and Made in Italy.

Bilateral trade between the two nations currently stands at around $1bn.

ACWA Power signs agreements with six key entities

The six Italian entities include the small, medium and large enterprises federation Confindustria; major energy firm Eni, utility and waste management firm A2A; industrial solutions provider Industrie De Nora; specialty additives manufacturer Italmatch Chemicals; and classification and engineering solutions provider RINA.

Marco Arcelli, CEO of ACWA Power, said: “We look forward to bringing together Saudi Arabia, home of one of the largest decarbonisation programmes in the world, with a rapidly expanding and diversifying economy, and Italy, one of the most competitive engineering, manufacturing and technology suppliers globally. The collaboration between ACWA Power and our Italian counterparties will enable the exchange of crucial expertise, products, and equipment.

“We hope this cooperation can lead to greater localisation of Italian companies in