Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, has signed seven cooperation agreements with Chinese firms during the third Belt and Road Forum in Beijing, for solar, green hydrogen and water desalination projects.
The agreements reaffirm ACWA Power’s commitment to collaborative sustainable development by leveraging its ongoing partnership with Chinese investors, financiers, EPC contractors and material suppliers.
The agreements were signed with the following entities :
- State Power Investment Corporation, one of the largest state-owned power generators in China;
- The Beijing headquartered Bank of China;
- Civil engineering firm Power China Group;
- Power and infrastructure solutions provider Energy China Group;
- Solar panel manufacturer Jinko Solar.
ACWA Power has enjoyed a long-standing relationship with Chinese firms, collaborating on pivotal projects both within Saudi Arabia and in other markets. ACWA Power’s association with China began in 2009 with the establishment of a Beijing office. Since then, Chinese investors and financiers have contributed a total of US$10 billion across ACWA Power’s global project portfolio, while Chinese EPC contractors, material suppliers, and financiers have participated in 47 projects and signed contracts worth more than USD 30 billion, covering landmark renewable, green hydrogen and seawater desalination projects worldwide, statement mentioned.
