Signs USS$ 500mn in new deals
ACWA Power, a Saudi developer, investor, and operator of power generation, water desalination, and green hydrogen plants worldwide, has recently signed several clean energy memoranda of understanding (MoUs) with US companies, totalling US$ 500mn.
The company partnered with the energy technology company Baker Hughes to test and implement innovations in green hydrogen production.
ACWA Power also joined forces with the science, technology, and engineering company KBR to cooperate on large-scale projects, utilizing the latter’s ammonia technology and engineering services.
PX Technology
Another agreement involves the manufacturer Energy Recovery. The parties will explore potential avenues of collaboration under the theme of ‘Joint Research for Energy-Saving Operation Technologies of the PXs in Seawater Desalination Plants,’ with a focus on improving energy efficiency using advanced PX technology and related solutions.
Other deals include deploying advanced tracker technologies for photovoltaic solar energy projects and testing and implementing innovations in core equipment for combined-cycle gas turbine projects, as well as electricity transmission and distribution systems in Saudi Arabia.
“These strategic partnerships with leading American companies are a direct investment in the future of Saudi Arabia, aligning with the key objectives of Vision 2030,” remarked Raad Al Saady, Vice Chairman and Managing Director, ACWA Power.
“Access to cutting-edge technology and expertise is critical as we diversify our portfolio, expand into new markets, and achieve our objectives in meeting net zero by 2050,” stressed Marco Arcelli, Chief Executive Officer, ACWA Power.
