ACWA Power Launches Innovation Centre in Shanghai to Drive Green Energy Revolution
Key Ideas
- ACWA Power, a key player in water desalination and energy transition, inaugurated its overseas Innovation Centre in Shanghai to focus on green energy sectors like green hydrogen and photovoltaics.
- The Innovation Centre, with an initial investment of USD 2.8 million, aims to foster innovation and collaboration by partnering with organizations like Gulf Renewables Laboratory and Shanghai Jiao Tong University.
- The Centre's strategic location in Shanghai aligns with ACWA Power's global expansion strategy in China, reflecting its commitment to sustainable energy solutions and supporting Saudi Vision 2030.
- ACWA Power is set to invest up to USD 30 billion in China by 2030, indicating a strong push towards a greener economy and industrial collaboration in line with the company's growth plans.
ACWA Power, a prominent private water desalination company and a leader in energy transition, has officially launched its first Innovation Centre outside Saudi Arabia in Pudong New Area, Shanghai. The advanced facility, with a focus on sectors like photovoltaics, wind, energy storage, green hydrogen, and seawater desalination, aims to drive innovation in sustainable energy solutions. With an initial investment of USD 2.8 million, the Centre houses an R&D Centre and Green Energy Laboratory to support research and development activities.
The inauguration event witnessed the signing of MOUs with Gulf Renewables Laboratory and Shanghai Jiao Tong University to enhance the Centre's capabilities through technical expertise and industry knowledge. Saleh Khabti, President of China at ACWA Power, highlighted the Centre's role in fostering global collaboration and technological progress to advance sustainable energy and water solutions worldwide.
Bart Boesmans, Chief Technology Officer of ACWA Power, emphasized the importance of innovation in the energy sector and noted that the Centre, supported by expert partnerships, will drive progress across ACWA Power’s value chain. The Centre aims to engage a wide spectrum of stakeholders, including government entities, universities, and research institutions, to foster a collaborative ecosystem for technological advancement.
The Innovation Centre's establishment in Shanghai is a strategic move that aligns with ACWA Power's global expansion plans in China, with an investment target of USD 30 billion by 2030. This initiative not only supports the Saudi Vision 2030 but also reinforces ACWA Power's commitment to sustainability and technology leadership. The Centre is positioned to play a vital role in advancing China and Saudi Arabia's environmental goals by promoting a greener economy and encouraging industrial collaboration.