Saudi developer Acwa Power has announced its entry into the Chinese market after “securing over 1GW of renewable energy projects in collaboration with leading renewable partners”.
This portfolio includes multiple wind and solar PV projects in multiple provinces, the company said without disclosing further project details.
Acwa will partially or fully own these projects.
It is now finalising investments in this portfolio.
The investments “[lay] a solid foundation and [establish] a strong reputation for future expansion”, Acwa said.
In December, the company told Bloomberg TV that it wants to invest up to $50 billion in renewable energy projects in China by 2030.
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