Saudi Arabia’s utility major ACWA Power has entered into agreements to acquire stakes in five wind power projects in China.

The portfolio includes one operational project with a capacity of 250 megawatts (MW) and four projects under construction with a combined capacity of 1,000 MW, the company said in a statement to the Saudi stock exchange on Tuesday.

No financial details or size of the stakes in the projects were disclosed.

In January, ACWA Power announced its entry into China with a renewable energy project development portfolio of 1 gigawatt (GW) as part of its China Strategy, which aims to significantly expand its presence in the country. By 2030, ACWA Power plans to triple its assets under management to about $250 billion globally.

(Editing by Brinda Darasha; brinda.darasha@lseg.com)