ACWA Power Aims to Boost Clean Energy Projects Worldwide
Saudi utilities giant ACWA Power plans to expand its clean energy projects globally with investments reaching $115 billion.
Riyadh: Saudi utilities giant ACWA Power intends to bolster strategic partnerships and secure substantial financing for its sustainability goals, strengthening Saudi Arabia's standing as a global leader in clean and renewable energy.
According to Hisham Tashkandi, the company’s regional president in Saudi Arabia, ACWA Power currently operates 110 projects worldwide with an investment portfolio of approximately $115 billion.
The firm's total projects within the Kingdom have increased to 39, with investments exceeding $68 billion.
These comprise the Shuqaiq, Ar Rass, and Al Kafa’a projects as part of Saudi Arabia's integrated clean energy system.
Tashkandi highlighted these initiatives among ACWA Power’s significant clean energy ventures.
The company continues to expand its footprint in renewable energy, water desalination, and green hydrogen through a portfolio of large-scale projects both domestically and internationally.
It currently produces around 9 million cubic meters of desalinated water daily worldwide, including 4 million cubic meters within Saudi Arabia – approximately 30 percent of the Kingdom's total production.
This output underscores ACWA Power’s role in bolstering national water security.
In addition to its domestic projects, ACWA Power is developing ventures in Rabigh and Hajr, alongside initiatives under the National Renewable Energy Program supervised by the Ministry of Energy.
Tashkandi mentioned that ACWA Power recently launched the fifth and sixth phases of renewable energy projects under the program, with the sixth phase valued at around $6 billion.
The NEOM Green Hydrogen Project is set to be among the largest globally, producing approximately 600 tonnes of hydrogen per day upon completion.
This project marks a key step toward achieving Saudi Vision 2030's objectives of energy diversification and carbon emission reduction.
Mohammad Abunayyan, founder and chairman of ACWA Power, emphasized that the world faces urgent needs for energy security and supply chain stability.
He highlighted Saudi Arabia's unique advantage in the Gulf Cooperation Council due to its diverse energy resources – including solar, wind, and storage.
Abunayyan noted that renewable energy now powers 100 percent of the company’s desalination operations, resulting in an approximately 85 percent reduction in water and desalination costs over the past decade.
He also underscored China's crucial role in the global energy transition, stating that without it, there would be no energy transition.
China is driving innovation and providing solutions for the world according to Abunayyan.
According to Hisham Tashkandi, the company’s regional president in Saudi Arabia, ACWA Power currently operates 110 projects worldwide with an investment portfolio of approximately $115 billion.
The firm's total projects within the Kingdom have increased to 39, with investments exceeding $68 billion.
These comprise the Shuqaiq, Ar Rass, and Al Kafa’a projects as part of Saudi Arabia's integrated clean energy system.
Tashkandi highlighted these initiatives among ACWA Power’s significant clean energy ventures.
The company continues to expand its footprint in renewable energy, water desalination, and green hydrogen through a portfolio of large-scale projects both domestically and internationally.
It currently produces around 9 million cubic meters of desalinated water daily worldwide, including 4 million cubic meters within Saudi Arabia – approximately 30 percent of the Kingdom's total production.
This output underscores ACWA Power’s role in bolstering national water security.
In addition to its domestic projects, ACWA Power is developing ventures in Rabigh and Hajr, alongside initiatives under the National Renewable Energy Program supervised by the Ministry of Energy.
Tashkandi mentioned that ACWA Power recently launched the fifth and sixth phases of renewable energy projects under the program, with the sixth phase valued at around $6 billion.
The NEOM Green Hydrogen Project is set to be among the largest globally, producing approximately 600 tonnes of hydrogen per day upon completion.
This project marks a key step toward achieving Saudi Vision 2030's objectives of energy diversification and carbon emission reduction.
Mohammad Abunayyan, founder and chairman of ACWA Power, emphasized that the world faces urgent needs for energy security and supply chain stability.
He highlighted Saudi Arabia's unique advantage in the Gulf Cooperation Council due to its diverse energy resources – including solar, wind, and storage.
Abunayyan noted that renewable energy now powers 100 percent of the company’s desalination operations, resulting in an approximately 85 percent reduction in water and desalination costs over the past decade.
He also underscored China's crucial role in the global energy transition, stating that without it, there would be no energy transition.
China is driving innovation and providing solutions for the world according to Abunayyan.
