Saudi-Backed ACWA Power To Invest $16 Billion In New Projects Around The World
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PIF-backed ACWA Power plans to invest $16bn in new projects in 2021
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DUBAI: The Chairman of ACWA Power Mohammad A. Abunayyan has said that a new hydrogen project partnership with NEOM and Air Products will lead to Saudi Arabia being at the forefront of green energy production and exports. In an interview with Asharq News, Abunayyan said “NEOM city enjoys a strategic location for renewable energy, especially with wind and solar energy, which will enable the joint venture to convert renewable energy into green hydrogen with new technology for the first time.” He added that the new technology “will be utilized in the supply chains of the NEOM project, and will be the beginning of the Kingdom’s green energy leadership in the world.”