BAKU, Azerbaijan, January 17. ACWA Power has officially entered China’s renewable energy market, signing investment agreements for over 1GW of projects across multiple provinces, Trend reports.
As part of its expansion, ACWA Power has partnered with key Chinese renewable energy players. The first agreement, signed with Sungrow Renewables, focuses on the development of a 132 MW solar PV portfolio in Guangdong province. This project, comprising three individual sites, represents ACWA Power’s first asset-level collaboration with its long-term supply chain partner.
The second agreement is with Mingyang Smart Energy Group, a developer of renewable assets and wind turbines. This partnership lays the groundwork for joint investments in China’s wind energy sector, starting with a 200 MW portfolio.
Together, the Sungrow and Mingyang projects involve a combined investment of $312 million and are the initial phase of a broader initiative that will expand to over 1GW of renewable energy capacity. These ventures underline ACWA Power’s commitment to supporting China’s transition to cleaner energy sources and strengthening its global renewable energy footprint.