Saudi Arabia’s private utility ACWA Power said it has signed a $1.5 billion agreement with Power China, Al Arabiya reported on Friday.
It is the latest in a series of agreement and several memorandums of understanding including on hydrogen energy and encouragement of direct investment during Chinese President Xi Jinping’s visit to the Kingdom.
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Dozens of agreements have been signed between Saudi Arabia and China covering several sectors in the fields of green energy, green hydrogen, photovoltaic energy, information technology, cloud services, transportation, logistics, medical industries, housing and construction factories.
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Saudi Arabia and China sign 34 investment agreements during Xi’s visit
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