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The Saudi-listed company is in advanced stages of completing these investments
Saudi Arabia’s ACWA Power has ventured into China by securing over 1,000 megawatts (MW of renewable energy projects.
The portfolio consists of multiple solar PV and wind projects, which will be owned partially/fully by ACWA Power with other partners in multiple provinces of China, the company said in a statement to the Saudi stock exchange.
The company is in the advanced stages of completing these investments, the statement said.
No financial or project details were given.
Earlier this month, Executive Vice President for China Lyu Yunhe said the company intends to invest up to $50 billion in China by 2030.
ACWA Power is on track to achieve 1.3 GW of renewable energy capacity in China by the end of the year, he told Bloomberg. |
