Saudi-listed developer of power and water projects ACWA Power intends to invest up to $50 billion in China by 2030, Executive Vice President for China Lyu Yunhe told Bloomberg TV.

These investments will focus on renewables, green hydrogen and desalination projects, he added.

ACWA Power is on track to achieve 1.3 gigawatts (GW) of renewable energy capacity in China by the end of the year. The company aims to expand its capacity by 4-6 GW in 2025 and subsequently add 5-6 GW annually, the report said.

The company will also work with state-owned Chinese companies to launch projects both within China and internationally, he added. 

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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