Saudi Arabia's ACWA Power and Japan's ITOCHU Corporation have entered into a strategic partnership through a memorandum of understanding signed during COP29. The agreement focuses on enhancing investments in renewable energy and environmental infrastructure to address the energy quadrilemma and drive the global energy transition. ACWA Power's CEO highlighted the alignment of the partnership with the net-zero emissions goal by 2050 and the expertise the companies bring in renewable energy, water desalination, and green hydrogen. The collaboration aims to attract Japanese investments into the clean energy sector and advance renewable energy projects such as combined cycle power plants and green hydrogen production. ACWA Power, known for its specialization in water desalination and renewable energy with a global investment value of $94.7 billion, will benefit from ITOCHU's diversified portfolio and presence in 61 countries. The partnership signifies mutual growth opportunities and a commitment to accelerating the energy transition and addressing climate change challenges. Earlier trade agreements between ACWA Power and Japanese companies further strengthen the ties between Saudi Arabia and Japan in the pursuit of sustainable energy solutions.