ACWA Power advances Asia ambitions with Energy China MoU
ACWA Power has signed a memorandum of understanding (MoU) with state-owned China Energy Engineering Corporation (Energy China), in a move that will support its growth in Asia.
The agreement provides for the companies to explore joint investment opportunities and to cooperate on power generation and desalination projects in the Middle East and Asia.
The signing ceremony was attended by senior officials from China’s public sector, and executives of China Gezhouba Group Company, a Chinese construction and engineering contractor owned by Energy China.
“We’re honoured to partner with one of the leading engineering and EPC contractors in the world. This new partnership will enable us to grow and to strengthen our relationship with China and the region,” said ACWA Power president and chief executive, Paddy Padmanathan.
Energy China listed on the Hong Kong Stock Exchange in 2015.