by Lu Han

BEIJING, Mar.24 (China Economic Net) – In an exclusive interview with China Economic Net on March 23 at the China Development Forum 2026, Mohammed Abunayyan, Founder and Chairman of Saudi Arabia's ACWA Power, announced that the company plans to invest $30 billion in China by 2030. ACWA Power, operating within the process of jointly building the Belt and Road Initiative, has already partnered with Chinese counterparts on projects in 15 countries, with the scope of collaboration continuing to expand.

As China approaches the final stages of its 14th Five-Year Plan, the country is set to clarify its greenhouse gas reduction targets and policy directions for clean technology industries in the next five years. This policy shift will not only influence China’s green transition but also have a significant global impact on the fight against climate change. In this context, many multinational companies have expressed their intention to increase investment and cooperation with China.

In discussing ACWA Power’s investment confidence, Abunayyan stated:

"As I mentioned in my speech yesterday, China is unique. It leads in innovation, scalability, competitiveness, and driving the energy transition. Without China, the global energy transformation would be impossible, and many development goals would remain unachievable. Our investments in China are progressing, and our goal is to exceed $30 billion in investments by 2030."

Abunayyan emphasized that China's favorable business environment and stable policy outlook are key reasons for ACWA Power’s commitment to investing in the country. "We believe China offers the right environment, and it is trustworthy. It is stable and transparent; you won’t encounter sudden changes in policies or regulations during execution, and nothing will take you by surprise. This is what makes China great - clear, coherent, predictable, and executable."

He further explained: "We hope to expand and improve our supply chains in China and drive innovative development. Within the framework of BRI, we have carried out extensive and in-depth cooperation with Chinese partners in supply chains, engineering procurement, and finance. We have worked with companies like China Power Construction and China National Energy to facilitate several successful projects, and we are now promoting these achievements to international markets."

ACWA Power is also planning to introduce desalination technology to China this year. Abunayyan pointed out that China is a critical strategic partner, especially in the fields of engineering procurement and construction. Chinese companies have played a vital role in providing key equipment, ensuring a robust supply chain for their projects. These supplies are currently being shipped through the Red Sea ports, which, due to their well-developed infrastructure, allow Saudi Arabia to avoid potential risks in the Strait of Hormuz and ensure the smooth delivery of goods to the Gulf Cooperation Council countries. "This not only guarantees the supply for our domestic projects but also provides a stable and reliable logistics channel for other countries in the region," he added.