Saudi Arabia’s ACWA Power has signed new agreements with US companies valued at $500 million, expanding its total collaboration with American firms to more than $46 billion. The deals were signed during the Saudi–US Investment Forum in Riyadh, coinciding with an official visit by US President Donald Trump.
The Saudi utility giant, known as the world’s largest private water desalination company and a key player in the energy transition and green hydrogen, signed multiple Memorandums of Understanding (MoUs) focused on renewable energy, hydrogen, and advanced desalination technologies.
“These strategic partnerships with leading American companies are a direct investment in the future of Saudi Arabia,” said Raad Al Saady, Vice Chairman and Managing Director of ACWA Power. “They align with Vision 2030 by supporting energy diversification, job creation, and sustainability.”
The agreements include:
- Solar Energy: Collaborations to deploy advanced tracker technologies aimed at reducing energy costs and boosting local production.
- GE Vernova: Joint efforts to innovate in combined-cycle gas turbine projects and enhance electricity transmission and distribution systems in Saudi Arabia.
- Baker Hughes: Development and testing of green hydrogen production technologies, with potential for in-Kingdom manufacturing.
- KBR: Engagement on large-scale ammonia projects, with engineering and programme management support.
- Energy recovery: Joint research into energy-saving operations for PXs in seawater desalination, with a focus on improving efficiency.
ACWA Power CEO Marco Arcelli said, “Access to cutting-edge technology and expertise is critical as we diversify our portfolio and expand into new markets.”
The company’s US collaborations also include equity partnerships with EIG and Air Products, technology development with Nextracker, DuPont, and ongoing research initiatives with MIT, Yale, and UCLA.
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