ACWA Power strengthens US clean energy ties with $500 million in new deals

May 16, 2025, by Aida Čučuk

ACWA Power, a Saudi developer, investor, and operator of power generation, water desalination, and green hydrogen plants worldwide, has signed several clean energy memoranda of understanding (MoUs) with U.S. companies, totalling $500 million.

The company partnered with energy technology company Baker Hughes to test and implement innovations in green hydrogen production. Reportedly, the collaboration will focus on developing electrolysis solutions and enhancing the safety and efficiency of hydrogen production, with potential for in-Saudi Arabia manufacturing to foster an ecosystem of innovation in this type of production.

ACWA Power also joined forces with the science, technology, and engineering company KBR to cooperate on large-scale projects, utilizing the latter’s ammonia technology and engineering services. As stated, this partnership includes program management and operational expertise to ensure project success.

Another agreement involves the manufacturer Energy Recovery. It is understood that the parties will explore potential avenues of collaboration under the theme of ‘Joint Research for Energy-Saving Operation Technologies of the PXs in Seawater Desalination Plants,’ with a focus on improving energy efficiency through the use of advanced PX technology and related solutions.

Other deals include deploying advanced tracker technologies for photovoltaic solar energy projects, and testing and implementing innovations in core equipment for combined-cycle gas turbine projects, as well as electricity transmission and distribution systems in Saudi Arabia.

As disclosed, the agreements strengthen the strategic partnership between the two countries, driving innovation and investment in the energy sector, and supporting Saudi Arabia’s Vision 2030 and ambition to reach net-zero emissions by 2060. They build on ACWA Power’s existing partnerships with U.S. companies, which are now reported to exceed $6 billion.

Raad Al Saady, Vice Chairman and Managing Director of ACWA Power, commented: “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, ACWA Power is committed to leveraging American innovation and expertise to accelerate the development of renewable energy solutions, creating jobs, diversifying the economy, and supporting a sustainable future for the Kingdom.”

Marco Arcelli, Chief Executive Officer of ACWA Power, stressed: “ACWA Power’s strategy is driven by value-driven partnerships like these. Access to cutting-edge technology and expertise is critical as we diversify our portfolio, expand into new markets, and achieve our objectives in meeting net zero by 2050.”

In 2025, ACWA Power also entered collaborations with Australian electrolyzer company Hysata, Germany’s Securing Energy for Europe (SEFE), and Italy’s energy infrastructure operator Snam. With Hysata, the company signed an agreement for the delivery of commercial-scale demonstrations of electrolysis technology in Saudi Arabia, with SEFE, it inked an MoU for the production and supply of green hydrogen to Europe, and with Snam, it agreed to explore collaboration opportunities and joint investments in establishing a green hydrogen supply chain from Saudi Arabia to Europe.