Acwa Power has entered China's renewable energy market with investment agreements totalling over 1 GW of projects across several provinces. The first agreement, signed with Mingyang Smart Energy Group, lays the groundwork for joint development and investment in wind energy assets. The initial portfolio under this partnership will have a capacity of 200 MW.
The second agreement, with Sungrow Renewables, involves the development of a 132 MW solar photovoltaic (PV) portfolio in Guangdong province. This project, comprising three individual sites, represents Acwa Power's first asset-level collaboration with Sungrow Renewables.
The combined investment in the two portfolios amounts to USD 312 million. These projects are part of an initial phase, which will progressively expand to a capacity exceeding 1 GW.
