Saudi Arabia’s ACWA Power has signed a series of green energy agreements with leading US firms, marking a $500 million expansion in its US collaborations. The deals were formalised at the Saudi–US Investment Forum in Riyadh, held during the official visit of US President Donald Trump. With this announcement, ACWA Power’s total engagement with American entities now exceeds $46 billion.
These new partnerships aim to strengthen cooperation in critical sectors such as solar power, green hydrogen, and advanced desalination, all of which support Saudi Arabia’s Vision 2030 strategy.
Strategic Partnerships for Energy and Sustainability
ACWA Power signed multiple Memorandums of Understanding (MoUs) during the forum. Each agreement targets a key area in the Kingdom’s sustainability drive. For instance, solar energy collaborations will focus on deploying next-generation tracking technologies to reduce costs and promote local manufacturing.
The company also joined forces with GE Vernova to develop combined-cycle gas turbine projects and enhance grid efficiency across Saudi Arabia. Furthermore, Baker Hughes will work with ACWA Power on green hydrogen production technologies, with discussions underway to establish manufacturing capabilities within the Kingdom.
KBR has committed to supporting large-scale ammonia initiatives through engineering and programme management services. Additionally, a new research partnership will explore energy recovery systems in seawater desalination to optimise operational efficiency.
“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 support energy diversification, job creation, and sustainability under Vision 2030.”
Broader Vision Through Global Collaboration
As ACWA Power continues to diversify its energy portfolio, the company is also building long-term collaborations beyond commercial agreements. CEO Marco Arcelli stated, “Access to cutting-edge technology and expertise is critical as we expand into new markets and drive innovation.”
In addition to recent MoUs, ACWA Power maintains equity partnerships with EIG and Air Products, as well as technology initiatives with Nextracker and DuPont. The firm also conducts joint research with institutions like MIT, Yale, and UCLA, ensuring a steady pipeline of innovation in clean energy and water solutions.
These agreements underscore ACWA Power’s role as a global leader in the energy transition and highlight the strategic alignment between Saudi and US interests in sustainable development.
