{"id":93396,"date":"2025-01-15T00:00:00","date_gmt":"2025-01-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/15\/acwa-power-invests-usd-312-mn-in-its-first-chinese-renewables-projects\/"},"modified":"2025-01-15T00:00:00","modified_gmt":"2025-01-15T00:00:00","slug":"acwa-power-invests-usd-312-mn-in-its-first-chinese-renewables-projects","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/15\/acwa-power-invests-usd-312-mn-in-its-first-chinese-renewables-projects\/","title":{"rendered":"Acwa Power invests USD 312 mn in its first Chinese renewables projects"},"content":{"rendered":"

PROJECT UPDATE- Acwa Power\u2019s recently secured renewables portfolio in China includes USD 312 mn <\/strong>in solar and wind <\/strong>investments, <\/strong>representing an \u201cinitial batch\u201d of Acwa\u2019s planned investments that will eventually ramp up to a 1 GW portfolio, according to a statement (pdf)<\/a>. <\/p>\n

Acwa\u2019s first partners:<\/strong> The renewables giant will develop a 132 MW solar photovoltaic (PV) portfolio in Guangdong province in partnership with Sungrow Renewables<\/a>, and a 200 MW wind energy project with turbine manufacturer Mingyang Smart Energy Group<\/a>, with a combined investment of USD 312 mn. The timeline for the two projects and the allocation of investments were not disclosed.<\/p>\n

We knew this was coming: <\/strong>Last month<\/a>, Acwa said it aimed to secure a 1.3 GW pipeline of renewables developments in China by the end of 2024, with plans to invest up to USD 50 bn by 2030<\/a> in renewables, green hydrogen, and desalination. Acwa plans to invest between USD 6-10 bn in China this year, after investing USD 2 bn during its first year of operations in China, Acwa Executive Vice President for China Lyu Yunhe said in December<\/a>.<\/p>\n

A research center is also on the cards: <\/strong>Acwa Power earlier inked an R&D partnership with China\u2019s Lujiazui Bureau to establish a USD 54 mn (SAR 202 mn) Shanghai research center focused on the development of solar, wind, energy storage, green hydrogen, and desalination technologies, during the Future Investment Initiative (FII) forum in late October<\/a>, <\/p>\n

IN OTHER ENERGY NEWS- <\/p>\n

Saudi Arabia and Italy inked a five-year MoU to bolster energy cooperation, <\/strong>including the potential supply of Saudi-made hydrogen to Europe via Italy, according to a statement<\/a> from the Saudi energy ministry. The proposed agreement also includes initiatives on cutting methane emissions, power connections, and carbon capture and storage systems.<\/p>\n

Under the agreement, Italy can act as an entry point for Saudi renewable hydrogen and ammonia to Europe, <\/strong>which is \u201cmuch closer, more competitive and strategic than other alternatives in the North Sea,\u201d Italy\u2019s energy and environment minister Gilberto Pichetto Fratin told Reuters<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Acwa looks to commit USD 50 bn to its China-based operations by 2030<\/p>\n","protected":false},"author":1,"featured_media":93397,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2616],"tags":[448,10,31,3710,451,3708],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-acwa-power","tag-enterpriseam-ksa","tag-investment-watch","tag-mingyang-smart-energy-group","tag-renewables","tag-sungrow-renewables","wpautop","entry"],"acf":{"mongo_id":"1f150b5e-3596-437e-a9b8-4a2f76329c2a","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/899.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Acwa Power debuts in China\u2019s renewables sector, with USD 312 mn investments in solar and wind","related_issue":[93391],"teaser":"Acwa looks to commit USD 50 bn to its China-based operations by 2030","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.456ada83-e1a9-4200-9147-4647bcaf8ea4.mp3"},"yoast_head":"\nAcwa Power invests USD 312 mn in its first Chinese renewables projects - 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