- The RMB 20 million facility will focus on research and development in solar photovoltaics, wind energy, green hydrogen, energy storage and seawater desalination
- Key partnerships signed with Gulf Renewables Laboratory and Shanghai Jiao Tong University
ACWA Power, the world's largest private water desalination company, leader in energy transition, and first mover into green hydrogen, today announced the official opening of its first overseas Innovation Centre in Pudong New Area, Shanghai. The state-of-the-art facility will focus on developing and deploying innovative solutions in five key areas: photovoltaics, wind, energy storage, green hydrogen, and seawater desalination.
With an investment of RMB 20 million (USD 2.8 million) in the first phase, the Innovation Centre includes an R&D Centre and a Green Energy Laboratory. The facility has been awarded ‘Group Open Innovation (GOI)’ by the Pudong New Area Government.
During the opening ceremony, ACWA Power signed Memoranda of Understanding (MOUs) with two key partners, Gulf Renewables Laboratory (GRL) and Shanghai Jiao Tong University (SJTU). The agreements will equip the Innovation Centre with the talent and technical expertise to nurture groundbreaking projects and tackle industry challenges.
"The launch of our Innovation Centre in Shanghai is a testament to our commitment to global collaboration and technological advancement," said Saleh Khabti, President of China, ACWA Power. "Through partnerships with leading organisations, we aim to accelerate the development and deployment of sustainable energy and water solutions, not just in China, but across our global network."
The Centre aims to foster a dynamic ecosystem, bringing together government entities, state-owned enterprises, startups, OEMs, universities, research institutions, and certification authorities. This collaborative approach will drive innovation throughout the entire project lifecycle, from research to real world application.
Bart Boesmans, Chief Technology Officer of ACWA Power, added: "Innovation is the driving force behind any organisation's success, especially in the industry that we operate in. This state-of-the-art facility, combined with the deep expertise of our partners, will be a catalyst for innovation across ACWA Power’s entire value chain."
The Centre will serve as a platform for collaboration with Chinese partners, building a vibrant innovation ecosystem in the Pudong New Area. The initiative also supports Saudi Vision 2030 and facilitates ACWA Power's Strategy 2.0 and China strategy, emphasising the company's dedication to global sustainability and technological leadership.
The Innovation Centre is expected to contribute significantly to both Saudi Arabia and China's environmental goals, supporting the transition to a greener economy and fostering a collaborative environment for growth.
Earlier this year, ACWA Power announced its formal entry into China's renewable energy market with investment agreements for over 1GW of projects across multiple provinces. By 2030, ACWA Power aims to invest up to USD 30 billion in China, in line with its plans to triple overall assets under management to about USD 250 billion globally.
-ends–
About ACWA Power
ACWA Power (TADAWUL:2082) is a Saudi-listed company and the world's largest private water desalination company, the first mover into green hydrogen, and a leader in energy transition. Registered and established in 2004 in Riyadh, Saudi Arabia, ACWA Power employs over 4,000 people and is currently present in 14 countries in the Middle East, Africa, Central Asia, and Southeast Asia. ACWA Power’s portfolio comprises 101 projects in operation, advanced development, or under construction with an investment value of SAR 381 billion (USD 107.5 billion) and the capacity to generate 78.9GW of power and manage 9.5 million m3/day of desalinated water per day. This energy and water are delivered on a bulk basis to address the needs of state utilities and industries on long-term, off-taker contracts under utility services outsourcing and public-private partnership models.
Learn more: www.acwapower.com
ACWA Power Media contacts:
Yahya Hamidaddin
Executive Director – Media Affairs & External Comms
Mohammed Al Hasan
Media Lead – Media Affairs & External Comms
