BAKU, Azerbaijan, May 17. ACWA Power has signed Memoranda of Understanding (MoUs) with several US companies worth a total of $500 million, Trend reports.
The agreements were signed during the Saudi–US Investment Forum held in Riyadh and add to the company’s existing partnerships with American firms, which now exceed $6 billion.
The new MoUs aim to enhance cooperation between Saudi Arabia and the United States in the energy sector, contributing to Saudi Arabia’s Vision 2030 and its target of reaching net zero emissions by 2060.
As part of these agreements, ACWA Power will work with US-based partners on multiple projects across renewable energy, hydrogen production, and water desalination.
The company plans to deploy advanced tracker technologies in photovoltaic solar energy projects to reduce energy costs and increase local manufacturing. It is also partnering with GE Vernova to test new technologies in combined-cycle gas turbine projects, as well as in electricity transmission and distribution systems in Saudi Arabia.
In the green hydrogen sector, ACWA Power will collaborate with Baker Hughes to develop electrolysis solutions aimed at improving safety and efficiency. The partnership includes the potential for local manufacturing to support the growth of hydrogen production in the Kingdom.
Additionally, ACWA Power signed an agreement with KBR to utilise its ammonia technology and engineering services on large-scale projects. The cooperation includes programme management and operational support.
Another MoU was signed with Energy Recovery to conduct joint research on energy-saving operation technologies in seawater desalination plants. This research will focus on improving energy efficiency using advanced pressure exchanger (PX) technology.
These agreements reflect ACWA Power’s broader strategy to work with international partners on innovation and technology transfer. The company maintains longstanding partnerships with US firms such as Air Products, EIG, DuPont, and Nextracker. It also collaborates with American academic institutions including Yale University, the Massachusetts Institute of Technology (MIT), and the University of California, Los Angeles (UCLA) on research and development initiatives.