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ACWA Power Signs Rs312 Million Renewable Energy Investment Deals in China

ACWA Power, a Saudi Arabian energy company, has secured renewable energy investment agreements totaling USD 312 million with China-based Sungrow Renewables and Mingyang Smart Energy, marking a significant expansion of its footprint in China’s renewable energy market.

The first agreement, with Sungrow Renewables (a subsidiary of Sungrow Power Supply Co.), focuses on developing a 132 MW solar photovoltaic portfolio in Guangdong province. The portfolio will consist of three individual sites, showcasing ACWA Power’s commitment to supporting China’s renewable energy goals and leveraging Sungrow's expertise in PV technology.

The second agreement, with Mingyang Smart Energy Group, aims to jointly develop and invest in wind energy projects in China, starting with a 200 MW portfolio. While the timeline for these projects is not disclosed, this partnership is expected to accelerate the adoption of cutting-edge wind energy technologies in China.

ACWA Power is on track to triple its assets under management to approximately USD 250 billion by 2030, reinforcing its global commitment to the clean energy transition and strengthening its leadership position in the renewable energy sector.