Saudi Arabia’s ACWA Power is preparing for a major expansion in China’s renewable energy sector, focusing on solar, wind, green hydrogen, and desalination. According to the company, China is seen as a critical market, second only to Saudi Arabia, offering significant opportunities for long-term growth.
Mohammad A. Abunayyan, Founder and Chairman of ACWA Power, announced at the Summer Davos meeting in Tianjin that the company plans to increase its global assets to USD 250 billion by 2030, with an estimated USD 30 billion to USD 75 billion earmarked for projects in China, as reported by EI News Network. ACWA Power has already secured more than 1 GW of renewable energy projects across several Chinese provinces this year.
China’s growing energy needs, expanding middle class, and advances in technology—including artificial intelligence—reinforce ACWA Power’s confidence in the market’s future potential. The company is also working to localize its desalination supply chain in China, aiming to support both local and international projects.
Earlier this year, ACWA Power formed partnerships with Chinese firms Sungrow and Mingyang Smart Energy to develop solar and wind projects, aligning with China’s push for decarbonization. The company is also exploring offshore wind opportunities and plans to invest in research and development within China to drive innovation in clean energy.
Despite global uncertainties and supply chain challenges, Mohammad A. Abunayyan expressed strong confidence in China’s economic direction and welcomed recent government reforms aimed at attracting investment. ACWA Power continues to collaborate with both state-owned and private Chinese enterprises, underlining its commitment to the country’s green energy ambitions.
