Thank you for reading the news about SPL, SEDA join hands to promote ‘Made in Saudi’ products and now with the details
Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s utility company ACWA Power has entered into seven cooperation agreements with various Chinese firms across multiple sectors, including solar energy, green hydrogen, and water desalination.
These deals were signed during the third Belt and Road Forum held in Beijing on Wednesday.
In a press statement, ACWA Power said that these agreements were signed with Chinese entities, including State Power Investment Corp. specializing in energy generation, Bank of China headquartered in Beijing, and Power China Group, a civil engineering firm.
The Saudi firm also signed deals with other companies such as Energy China Group, a provider of power and infrastructure solutions, and Jinko Solar, a solar panel manufacturer.
Mohammed Abunayyan, founder and chairman of ACWA Power, said: “ACWA Power’s journey with China has been one of genuine friendship and fruitful cooperation, going back years and across geographies. Over the years, we have nurtured strong relationships with key Chinese partners, which have enabled us to drive transformative projects in the fields of renewables, green hydrogen, and water desalination.”
He added: “The agreements signed today further advance our common interest of developing projects that support positive climate ambitions.”
The forum also marked the 10th anniversary of China’s Belt and Road Initiative, a global infrastructure development program initiated in 2013 to enhance connectivity and trade among participating nations.
Abunayyan indicated that Saudi Arabia sees significant potential for further collaboration with China under the BRI.
“We are dedicated to nurturing this enduring partnership. ACWA Power is resolute in our commitment to the Chinese market, and we recognize the critical role we play in the global clean energy landscape,” he added.
The press statement revealed that ACWA Power established its Beijing office in 2009, marking the beginning of its association with China.
Since then, Chinese investors and financiers have contributed $10 billion to ACWA Power’s global project portfolio, and Chinese engineering, procurement, and construction contractors, material suppliers, and financiers have participated in 47 projects and signed contracts worth more than $30 billion.
In a report released by UK-based Global Water Intelligence in August, ACWA Power was recognized as the world’s largest water developer outside of China.
It leads the list of top global water developers with a gross capacity of 6.8 million cubic meters per day and a net capacity of 3.2 m3/d per day.
These were the details of the news SPL, SEDA join hands to promote ‘Made in Saudi’ products for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.
