ACWA Power unites with IRENA to bolster renewable energy transition

April 22, 2024, by Aida Čučuk

ACWA Power, a Saudi developer, investor and operator of power generation, water desalination and green hydrogen plants worldwide, has signed an agreement to partner with the International Renewable Energy Agency (IRENA) to drive the worldwide transition to renewable energy sources.

Through this partnership, ACWA Power said the company will collaborate with IRENA to exchange “vital” information on infrastructure investment for renewable energy, green hydrogen development, solar power, smart grids and the energy-water nexus.

Additionally, ACWA Power will participate in IRENA initiatives, including Green Hydrogen, Collaborative Frameworks, Project Facilitation, the Alliance for Industry Decarbonization, the Utilities for Net Zero Alliance and the Coalition for Action.

The two parties will also explore opportunities to mobilize finance and investment in renewable energy projects and support infrastructure, ACWA Power noted, adding that joint workshops and seminars will be organized to share practices, strengthen capabilities and raise awareness of the energy transition among youth, professionals and the public through IRENA’s platforms and programs.

Marco Arcelli, CEO of ACWA Power, commented: “Our partnership with IRENA marks a significant milestone in our journey towards a sustainable energy future. By combining our strengths and resources, we are prepared to drive meaningful change and accelerate the transition to renewable energy on a global scale. Through collaborative partnerships and innovative solutions, ACWA Power remains committed to advancing the widespread adoption and sustainable use of renewable energy…”

Francesco La Camera, Director-General of IRENA, stated: “We have less than a decade left to secure a fighting chance for a 1.5°C world. Accelerating the renewable-based energy transition needs industry leaders, and this MoU between IRENA and ACWA Power stands for the growing commitment of the global industry to act on decarbonization. There is no alternative to the energy transition. We need to act together to accelerate the sustainable use of renewables and green hydrogen across the globe.”

To note, ACWA Power is involved in multiple hydrogen projects in the world, including green hydrogen projects in Uzbekistan, Egypt and Indonesia. Furthermore, the company is part of the major NEOM green hydrogen project in Saudi Arabia.