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|22 February, 2019

Saudi's wealth fund signs renewables agreement with China - SPA

The MOU will enable PIF to support and develop manufacturing, power generation and emerging technologies over the next ten years

Saudi Arabia's Crown Prince Mohammed bin Salman is seen during his visit to Great Wall of China in Beijing, China February 21, 2019. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via

Saudi Arabia's Crown Prince Mohammed bin Salman is seen during his visit to Great Wall of China in Beijing, China February 21, 2019. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via

DUBAI  - Saudi Arabia's sovereign wealth fund has signed a memorandum of understanding on renewable energy cooperation with China during a visit by Saudi Crown Prince Mohammed bin Salman to Beijing, state news agency SPA said on Friday.

The MOU between China and Saudi's Public Investment Fund (PIF) said the kingdom wanted to invest in renewables and make it a "leading global centre" for the sector, SPA said.

The MOU will enable PIF to support and develop manufacturing, power generation and emerging technologies over the next ten years, it added.

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(Reporting by Sylvia Westall; Editing by Simon Cameron-Moore) ((sylvia.westall@thomsonreuters.com; Dubai Newsroom +971 4453 6488; Reuters Messaging: sylvia.westall.thomsonreuters.com@reuters.net))

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