BAKU, Azerbaijan, March 10. ACWA Power has inaugurated its first overseas Innovation Center in Shanghai’s Pudong New Area, focusing on photovoltaics, wind, energy storage, green hydrogen, and seawater desalination, Trend reports.
The facility, developed with an initial investment of $2.8 million, includes an R&D Center and a Green Energy Laboratory and has been recognized by the Pudong New Area Government as a ‘Group Open Innovation (GOI)’ initiative.
During the opening, ACWA Power signed Memoranda of Understanding with Gulf Renewables Laboratory and Shanghai Jiao Tong University to enhance technical expertise and industry collaboration. The center aims to drive innovation through partnerships with government entities, state-owned enterprises, research institutions, and startups.
Saleh Khabti, President of China at ACWA Power, emphasized the Centre’s role in accelerating sustainable energy and water solutions globally. The initiative aligns with Saudi Vision 2030 and ACWA Power’s long-term investment strategy in China, where the company plans to invest up to $30 billion by 2030.