In a move that underscores the strengthening Saudi-US strategic alliance, Acwa Power has inked Memorandums of Understanding (MoUs) valued at $500 million with several leading US companies during the Saudi-US Investment Forum held in Riyadh.

The newly signed MoUs aim to enhance collaboration in key sectors such as solar energy, green hydrogen, and seawater desalination, while also reducing energy costs and increasing local production capabilities in Saudi Arabia. These agreements build on Acwa Power’s existing partnerships with American firms, which now total over $6 billion.

Among the major collaborations announced:

• GE Vernova will work with Acwa Power to pilot and implement innovations in core equipment for combined-cycle gas turbine projects, and upgrades in electricity transmission and distribution infrastructure.
• Baker Hughes will support innovation in green hydrogen production, contributing its expertise in electrolysis technology to improve the safety and efficiency of hydrogen systems.
• KBR will partner with Acwa Power on large-scale initiatives, deploying its ammonia technology and engineering services to support energy transition goals.
• Energy Recovery will collaborate on joint research focused on energy-saving operational technologies in pressure exchangers (PXs) used in seawater desalination plants.

“These strategic partnerships with leading American companies are a direct investment in the future of Saudi Arabia, aligning with the key objectives of Vision 2030,” said Raad Al-Saady, Vice Chairman and Managing Director of Acwa Power. “We are leveraging American innovation and expertise to accelerate renewable energy development, create jobs, diversify the economy, and drive a sustainable future for the Kingdom.”

Acwa Power CEO Marco Arcelli emphasized the long-term strategy behind the partnerships: “Access to cutting-edge technology and expertise is critical as we diversify our portfolio, expand into new markets, and pursue our commitment to net-zero emissions by 2050.”

These MoUs mark a significant milestone in advancing clean energy initiatives and reinforce Saudi Arabia’s ambition to position itself as a global leader in sustainable energy under its Vision 2030 framework.