Saudi Arabian utility developer ACWA Power on Monday signed a Memorandum of Understanding (MoU) with China Energy Engineering Corporation Limited (ENERGY China).
Signed during a ceremony in Dubai, the framework agreement will enable both companies to explore joint investment opportunities and cooperate on power generation and water desalination projects across the Middle East and Asia where ACWA Power operates.
ACWA Power’s chairman Mohammad Abunayyan has signed the agreement with ENERGY China’s chairman Wang Jianping, who were accompanied by high-level dignitaries, including senior officials from China’s public sector, as well as senior business executives and professionals from China Gezhouba Group Company (CGGC).
“Today’s MoU … demonstrates our effort towards providing superior solutions within the power and water sector in the region and around the world.” ACWA Power’s Mohammad Abunayyan said.
“With this agreement, we will strengthen the ties between China and the Middle East and unlock new potential power generation opportunities in the region.” ENERGY China’s Wang Jianping said.
“We believe this new partnership will allow us both to grow and to strengthen our relationship with China in the region.” Paddy Padmanathan, President and CEO of ACWA Power, said.
ACWA Power operates in 10 countries and has signed MoUs with various companies in those countries pledging to support local governments in the provision of reliable and cost-effective power source and desalinated water solutions within the utility sphere.
