Acwa Power, a Saudi energy company, is set to invest up to $50 billion in renewable energy projects in China, focusing on clean power assets and green hydrogen production. Lyu Yunhe, the head of Acwa Power's China operations, announced the company's ambitious investment plan, aiming to acquire assets with a total value of up to 20GW and produce an additional 1 million tonnes of green hydrogen. By the end of the current year, Acwa Power plans to have 1.3GW of renewable capacity in China and anticipates adding 4-6GW next year, followed by 5-6GW annually. The company has established partnerships with Chinese state-owned entities for various projects, including collaborations in wind energy in Uzbekistan and power projects in Saudi Arabia. The growing relations between China and Saudi Arabia, particularly since President Xi's visit to Saudi Arabia in 2022, have facilitated increased investments and collaborations between the two nations. Acwa Power's strategic moves align with Saudi Arabia's 2030 Vision for industrialization, attracting manufacturers, contractors, and investors from China to participate in the country's development. Additionally, Acwa Power has divested a stake to China Southern Power Grid International and engaged in significant projects like the $972 million solar project near Mecca in Saudi Arabia and establishing a research center in Shanghai with China's Lujiazui Administration Bureau.