ACWA Power inks purchase pacts to acquire wind power projects in China

ACWA Power Co. said it received a notification from ACWA Power China, on Dec. 29, regarding the signing of multiple share purchase agreements to acquire wind power projects in China.

In a statement to Tadawul, the company said the projects include one operational unit with a capacity of 250 megawatts (MW) and four under construction with a combined capacity of 1,000 MW, with handover upon receipt of the operational certificate.

In December 2024, ACWA Power announced its entry into the Chinese market with a renewable energy project portfolio of 1 gigawatt (GW). Of this, 333 MW were closed after meeting the acquisition conditions and added to the company’s operating portfolio, Argaam data showed.