ACWA Power, a Saudi-listed developer of power and water projects, has announced its intention to invest up to $50 billion in China by 2030. This investment will primarily focus on renewables, green hydrogen, and desalination projects. The Executive Vice President for China, Lyu Yunhe, shared this ambitious plan in an interview with Bloomberg TV. Currently, ACWA Power is on track to achieve 1.3 gigawatts of renewable energy capacity in China by the end of the year. The company has set further expansion goals, aiming to increase its capacity by 4-6 GW in 2025 and subsequently add 5-6 GW annually. Additionally, ACWA Power plans to collaborate with state-owned Chinese companies to launch projects within China as well as internationally. This strategic partnership approach highlights the company's commitment to expanding its presence in the renewable energy sector and leveraging green hydrogen technology. The positive sentiment towards renewable energy and hydrogen initiatives is evident in ACWA Power's substantial investment plans in China, signaling a promising future for sustainable energy projects in the region.