By: Energetica India

Saudi Arabia-based energy and desalination firm ACWA Power has announced plans to significantly expand its footprint in China to tap into the country’s massive renewable energy market.

Speaking at the Summer Davos meeting in Tianjin, ACWA Power’s Founder and Chairman, Mohammad A. Abunayyan, described China as a 'strategically vital' market, second only to Saudi Arabia, and a prime opportunity to scale up the company’s green energy expertise.

Abunayyan revealed that ACWA Power aims to grow its global assets to USD 250 billion by 2030, with China projected to attract between USD 30 billion and USD 75 billion of that investment. The company has already made its official entry into China’s clean energy landscape this year, securing over 1 GW of renewable energy project deals across several provinces.

Highlighting China’s surging energy demand, growing middle class, and leadership in technologies like artificial intelligence, Abunayyan said these factors strongly support ACWA Power’s confidence in the country’s long-term market potential.

The company’s China strategy includes a sharp focus on solar, wind, green hydrogen, and especially water desalination, where ACWA Power holds the title of the world’s largest player. Plans are underway to localize the desalination supply chain within China for both domestic use and global projects.

Earlier this year, ACWA Power partnered with major Chinese renewables firms Sungrow and Mingyang Smart Energy to co-develop solar and wind projects, aligning with China’s ambitious decarbonization goals.

The company is also exploring offshore wind opportunities and intends to boost research and development efforts in China to foster innovation in clean energy.

Despite a complex global landscape, including geopolitical uncertainties and supply chain risks, Abunayyan expressed full confidence in China’s economic and policy direction. He welcomed the Chinese government’s recent pro-investment reforms and emphasized the company’s ongoing collaboration with both state-owned and private Chinese enterprises.