Saudi utility giant ACWA Power has announced its successful expansion into China, securing over 1 gigawatt of renewable energy projects.
The portfolio includes solar photovoltaic and wind energy initiatives, which will be jointly owned by ACWA Power and leading Chinese renewable energy firms.
In a statement to Tadawul, ACWA Power confirmed that the projects are spread across several Chinese provinces and are in advanced stages of development.
This milestone represents the company’s formal entry into China’s renewable energy sector, positioning ACWA Power for future growth in one of the world’s largest clean energy markets.
The expansion aligns with ACWA Power’s broader ambitions in China. Earlier this month, Yunhe Lyu, head of ACWA Power’s China operations, shared plans to invest up to $50 billion in renewable energy projects across the country by 2030.
The company aims to acquire clean power assets with a capacity of up to 20 GW and to develop 1 million tonnes of green hydrogen.
