Saudi-listed ACWA Power is working to add another 700-800 megawatts (MW) of renewable capacity in China this year, it said in its first quarter 2025 investor report released on Thursday.

Of the 1 gigawatt (GW) agreements announced in December 2024, the company has reached 233 MW after signing a deal with local firm Sungrow Renewables to develop two solar PV assets already under construction.

In the bidding space, the company submitted a bid for the Al-Zour North IWPP - a 2.7 GW, 540,000 cubic metres per day cogeneration facility in Kuwait, CEO Marco Arcelli said in the report.
“In Saudi Arabia, we are in an advanced stage of concluding the next giga wave of projects as part of the 2030 renewable energy target of 130 GW as announced by the Ministry of Energy,” he added.

Operationally, ACWA Power’s 2.1 GW Al Shuaiba 2 Solar PV IPP in Saudi Arabia, the 500 MW Bash and 500 MW Dzhankeldy wind IPPs in Uzbekistan, and the 91 MW Layla Solar PV IPP in Saudi Arabia reached their initial commercial operation.

In Morocco, the Noor 3 CSP plant resumed stable generation in April 2025 following the extended outage experienced last year, the report said.

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

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