ACWA Power has signed a Memorandum of Understanding (MoU) with China Energy Engineering Corporation Limited (ENERGY CHINA), to explore joint investment opportunities and cooperate on power generation and water desalination projects across the Middle East and Asia.
The agreement between the Saudi-based firm and Chinese EPC firm, was signed during a ceremony in Dubai last week.
The MoU was signed by ACWA Power’s Chairman, Mohammad Abunayyan and 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).
Commenting on the announcement, ACWA Power Chairman Mohammad Abunayyan stated: “Today’s MoU with Energy China is a great milestone that demonstrates our effort towards providing superior solutions within the power and water sector in the region and around the world…”
“We are privileged to be here in Dubai and to have signed this MoU with an industry leader in the power and water sector,” said the Chairman of ENERGY CHINA, Wang Jianping.
“With this agreement, we will strengthen the ties between China and the Middle East and unlock new potential power generation opportunities in the region.” Read more: DEWA awards $237m contract for desal plant
Paddy Padmanathan, President and CEO of ACWA Power, said: “…This MoU further demonstrates our success in bringing the best in market to the countries in which we operate. We believe this new partnership will allow us both to grow and to strengthen our relationship with China in the region.”