At the ninth Future Investment Initiative (FII9) in Riyadh, ACWA Power announced a landmark $10 billion in global agreements spanning clean energy, water infrastructure, and technology innovation. While the deals cover a wide geographic footprint—including the GCC, China, Central Asia, and Africa—one of the standout themes is the company’s growing emphasis on water desalination as a critical solution to global water scarcity.
In Saudi Arabia, ACWA Power, alongside Badeel and Saudi Aramco, secured $6 billion in financing under the National Renewable Energy Program. These projects not only support the Kingdom’s 2030 clean energy goals but also integrate desalination technologies to ensure sustainable water supply for growing urban and industrial needs.
In Africa, a $1 billion framework agreement with the International Finance Corporation (IFC) and a $450 million deal with the OPEC Fund will accelerate clean energy and water projects, including desalination initiatives aimed at addressing chronic water shortages across the continent.
ACWA Power’s Chairman, Mohammad Abunayyan, emphasized the company’s role as a global leader in clean energy, water desalination, and green hydrogen, noting that these agreements reflect the scale and ambition of its expanding portfolio. Strategic partnerships with global technology firms and financiers are enabling ACWA Power to deploy innovative desalination solutions that are both energy-efficient and scalable.
As water stress intensifies worldwide, ACWA Power’s integrated approach—combining renewable energy with advanced desalination—is positioning the company at the forefront of sustainable infrastructure development.
(Source: Solar Quarter)