Saudi Arabia's ACWA Power is investing $50 billion in green energy projects in China, aiming to develop over 1 GW of renewable energy capacity by the end of the year. The company's portfolio includes solar and wind power installations, with plans for up to 20 GW of renewable energy generation capacity and green hydrogen projects. ACWA Power is partnering with Chinese firms on projects in China and globally, such as a wind project in Uzbekistan. The economic collaboration between China and Saudi Arabia, initiated by Chinese President Xi Jinping's visit to Riyadh in 2022, has led to significant trade, with bilateral trade hitting $107.23 billion in 2023. China is the leading direct investor in Saudi Arabia for greenfield projects, focusing on solar, wind, and battery energy storage installations.