Saudi energy company ACWA Power signed memoranda of understanding with Chinese industrial conglomerate Huawei and the Silk Road Fund at a recent meeting between the nations.
ACWA said it will cooperate with Chinese inverter manufacturer Huawei to use information and communications tech to increase the efficiency and otherwise improve the performance of its PV projects, including the 300 MW Sakaka PV IPP project currently under construction. “The collaboration also extends to digitalization of power plant management,” the Saudi company added.
ACWA and Huawei began a pilot solar project featuring Huawei’s FusionSolar plant management and monitoring control platform in January last year. The idea behind that collaboration was to enhance the efficiency of ACWA Power’s solar plants, delivering digitalized intelligence and a single point of monitoring and control.
Belt and Road deal
“Over the last few years we have been privileged to work with an increasing number of Chinese investors, financial service providers, technology providers and EPC contractors on our rapidly expanding portfolio, and we are eager to nurture and expand these very successful collaborations,” said ACWA president, Paddy Padmanathan.
The Saudi utility also signed an understanding with the Silk Road Fund, which relates to the development of power and water assets in several countries along China’s massive Belt and Road infrastructure corridor. ACWA had sold a 24% stake in the 700 MW CSP project it is building in Dubai to the Silk Road Fund in July.
ACWA is constructing a 100 MW solar plant in Bahrain and, having built several PV facilities in Egypt, was also the lowest bidder in that nation’s recent tender for the 200 MW Kom Ombo solar project.
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what’s the investment here?