ACWA Power, a global leader in renewables and water desalination, has signed new agreements with major US companies valued at $500 million, according to the EI News Network. These deals, announced during the Saudi–US Investment Forum in Riyadh alongside the official visit of US President Donald Trump, increase ACWA Power’s total partnerships with American firms to over $6 billion.
The latest collaborations focus on advancing clean energy, green hydrogen, and solar technologies in line with Saudi Arabia’s Vision 2030 and its goal to achieve net zero emissions by 2060. His Excellency Raad Al Saady, ACWA Power’s Vice Chairman and Managing Director, highlighted that these partnerships will help localize manufacturing, create jobs, and leverage American expertise for Saudi Arabia’s energy transition.
Chief Executive Officer Marco Arcelli emphasized that working with US technology leaders is crucial for ACWA Power’s strategy to diversify its energy portfolio and reach net zero by 2050. The company plans to:
- Adopt advanced solar tracker systems
- Partner with GE Vernova to enhance gas turbine and transmission technology
- Work with Baker Hughes on green hydrogen solutions and localized production
Additionally, ACWA Power is teaming up with KBR to utilize their ammonia technology for large-scale hydrogen and ammonia projects, while a research partnership with Energy Recovery aims to improve seawater desalination efficiency using advanced pressure exchanger technology.
These agreements underscore ACWA Power’s commitment to international collaboration and innovation, reinforcing Saudi Arabia’s position at the forefront of sustainable energy development.
