ACWA Power eyes boosting China investments to 35% of total: Vice Chairman

Raad Al Saady, Managing Director of ACWA Power 

ACWA Power Co. sees its investment in China as part of its new strategy, aiming to make it 30-35% of total investments within seven years, said Vice Chairman and Managing Director Raad Al-Saadi.

He told Al-Arabiya TV that these investments will be through existing partnerships, adding that the company will look for opportunities to implement the projects it is working on in other parts of China.

The investment of Saudi companies in China is open. There is an openness to the idea of Saudi investments in China, especially in the renewable energy sector and water desalination using renewable energy and green hydrogen, according to the top executive.

Al-Saadi also indicated that ACWA Power has kicked off projects for some Chinese entities inside and across Saudi Arabia.