Saudi Electricity Company (SEC)

In May 2023, ACWA Power signed two agreements to expedite Uzbekistan’s target to decarbonize 35% of its energy sector by 2030. Also in May, NEOM Green Hydrogen Company, a joint venture by ACWA power, Air Products, and NEOM, signed a financial deal with 23 local, regional, and international banks and investment firms to produce the world’s largest green hydrogen production facility with a total investment of $8.4 billion. ACWA Power signed an MoU with Huawei Digital Power in June 2023 to establish a joint innovation program to promote the growth of local industries and advance decarbonization in Saudi Arabia.