Saudi ACWA Power has Signed Several Agreements with Japanese Companies.

Saudi ACWA Power has Signed Several Agreements with Japanese Companies.

On the sidelines of the Saudi-Japan Vision 2030 Business Forum on May 21, ACWA Power of Saudi Arabia signed memoranda of understanding with several Japanese companies.

ACWA Power has signed agreements with Sumitomo Mitsui Banking Corporation, Mizuho Bank, SBI Holdings, and Toray Membrane Middle East to promote collaboration on sustainable energy and water solutions.

According to ACWA Power, the MoUs aim to promote sustainable energy transition and attract foreign investment.

The MoUs are significant for the Kingdom regarding water desalination, carbon reduction, and economic development.

The Saudi Arabia-Japan Vision 2030 Business Forum was held in Tokyo last week, with over 300 industry officials and leaders discussing how to strengthen trade, investment, and cultural ties

Saudi Arabia’s Minister of Investment, Khalid Al-Falih, Minister of Energy, Prince Abdulaziz bin Salman Al Saud, and Japan’s Minister of Economy, Trade, and Industry, SAITO Ken, all spoke at the forum to commemorate the two countries’ relationship.

Saito stated that the Japanese government will fully support expanding business with Saudi Arabia. At the same time, Prince Abdulaziz noted that the Kingdom “will bring collaborations to the forefront and ensure that we advocate the same aspirations in the national transition process concerning energy requirements in all forums.

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