ACWA Power opens innovation hub in China

ACWA Power Co. launched its first overseas innovation center in Shanghai’s Pudong New Area, China, at an initial investment of CNY 20 million ($2.8 million), according to a statement on Tadawul today, March 9.

The hub will focus on five key sectors: photovoltaics, wind power, energy storage, green hydrogen, and seawater desalination. It includes a research and development (R&D) center and a green energy laboratory.

The facility has also joined the Open Innovation Consortium, a government-backed program in Pudong.

ACWA Power entered the Chinese market in early 2025, with over 1 GW of renewable projects across multiple provinces. It plans to invest up to $30 billion in China.