ACWA Power, a leading global player in water desalination and a pioneer in green hydrogen, has inked seven vital cooperation agreements with prominent Chinese firms during the third Belt and Road Forum held in Beijing. The agreements, focusing on solar energy, green hydrogen, and water desalination projects, underline ACWA Power’s dedication to sustainable development and global climate goals. This collaborative effort signifies a milestone in ACWA Power’s enduring partnership with Chinese investors, financiers, engineering, procurement, and construction (EPC) contractors, as well as material suppliers.
Among the notable entities involved in the agreements are the State Power Investment Corporation, one of China’s largest state-owned power generators; Bank of China, headquartered in Beijing; Power China Group, a distinguished civil engineering firm; Energy China Group, a provider of power and infrastructure solutions; and Jinko Solar, a leading solar panel manufacturer.
ACWA Power Chairman, Mohammad Abunayyan, expressed his enthusiasm, stating, “Our relationship with China has been marked by genuine friendship and fruitful cooperation, spanning across years and geographies. These agreements build on our shared commitment to transformative projects in renewables, green hydrogen, and water desalination, aligning seamlessly with positive climate ambitions.”
The Belt and Road Forum also commemorated the 10th anniversary of China’s Belt and Road Initiative (BRI), a global infrastructure development program aimed at enhancing connectivity and trade among participating nations. Speaking about the future collaboration under the BRI, Mr. Abunayyan noted, “We recognize the critical role we play in the global clean energy landscape. ACWA Power is dedicated to nurturing this enduring partnership and is committed to the Chinese market.”
ACWA Power’s relationship with Chinese firms dates back to 2009 when the company established its Beijing office. Since then, Chinese investors and financiers have contributed a substantial sum of $10 billion to ACWA Power’s global project portfolio. Chinese EPC contractors, material suppliers, and financiers have actively participated in 47 projects, signing contracts worth over USD 30 billion. These collaborations have covered landmark renewable energy, green hydrogen, and seawater desalination projects across the globe, showcasing ACWA Power’s leadership in the clean energy sector