ACWA在给沙特证交所的一份声明中指出，这些项目分布在中国几个省份，处于后期开发阶段。这一里程碑标志着公司正式进入中国可再生能源领域，为其在这个全球最大的清洁能源市场之一的未来发展奠定了基础。ACWA, the renewable energy giant from Saudi Arabia, announced that its total installed capacity for renewable energy projects in China has exceeded 1 GW; these projects include Wind Energy and photovoltaic projects, which are fully or partially owned by ACWA.
According to Caixin on December 31 (edited by Qi Ling), Saudi Arabia's renewable energy giant, ACWA Power, announced that its business expansion in China has achieved milestone results, with the total installed capacity of its renewable energy projects in China exceeding 1 GW.
ACWA's investment portfolio in China includes CECEP Solar Energy and Wind Energy projects, which are wholly owned by ACWA or jointly owned with leading renewable energy companies in China.
In a statement to the Saudi Stock Exchange, ACWA pointed out that these projects are distributed across several provinces in China and are in the later stages of development. This milestone marks the company's official entry into the renewable energy sector in China, laying the foundation for its future development in one of the largest clean energy markets in the world.
ACWA has set ambitious development plans for the Chinese market. Earlier in December, ACWA's Executive Vice President and General Manager for China, Lv Yunhe, shared the company's plan to invest 50 billion USD in renewable energy projects in China by 2030, involving areas such as green energy, renewable energy, green hydrogen, and seawater desalination. The company's goal is to acquire clean energy Assets with an installed capacity of up to 20 GW in China and develop 1 million tons of green hydrogen.
At that time, it was stated that by the end of 2024, ACWA will have renewable energy projects in China with a total installed capacity of 1.3 GW.
As a global investment company, ACWA's expansion strategy includes collaborating with companies domestically and internationally. For example, the company reached a cooperation agreement with China Southern Power Grid International Co., Ltd. regarding a Wind Energy project in Uzbekistan in July this year and collaborated with the State Power Investment Corporation on power projects in Saudi Arabia.
ACWA is the world's largest seawater desalination company and is also a well-known company in green energy such as photovoltaic and green hydrogen, with a business presence across 13 countries, currently managing around 90 projects with significant total Assets.
Expanding towards China is part of the strengthening broader economic ties between Saudi Arabia and China. Not only ACWA, but recently the state-owned energy company Saudi Aramco has also invested heavily in the China Petroleum & Chemical Corporation sector, such as jointly investing with China Petroleum & Chemical Corporation to build a large refining project in Fujian with a total investment of nearly 10 billion USD.
China has also become the main source of foreign direct investment in Saudi greenfield projects, investing a total of 21.6 billion USD in Saudi Arabia from 2021 to October 2024, with about one-third of the investment allocated to clean technologies such as CECEP Solar Energy, Wind Energy, and Battery storage.
