Saudi Arabia's Largest Power Company: Saudi Arabia Becoming Country with Fastest Energy Transition, Renewable Energy to Reach 25% Share | China Development Forum

WealthCoffee · 2026-03-24T12:11:30+00:00

Saudi Arabia is accelerating its green energy transition, with Acwa Power Chairman Mohammad Abunayyan emphasizing that cooperation with Chinese enterprises can significantly reduce costs. He noted that despite facing challenges, Saudi Arabia's infrastructure and daily life continue to operate normally.

WealthCoffee

2026-03-24 12:11:30

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[Caixin] Saudi Arabia, the country with the world’s richest oil reserves, is becoming the “fastest country in energy green transition.” Mohammad Abunayyan, founder and chairman of Acwa Power, a Saudi international electricity and water company, made this statement. Saleh Al Khabti, chairman of Acwa China and former deputy minister of Saudi Arabia’s Ministry of Investment, told Caixin that collaborating with Chinese companies can significantly reduce the costs of energy transition and accelerate the process.

“For my country, this is a very difficult time,” Abunayyan, the only representative from a Saudi company at the “2026 China Development High-Level Forum,” admitted during his speech at the “Global Green Low-Carbon Transition and Sustainable Development” seminar. “Despite the conflicts (U.S.-Iran) and the complex situation they bring, Saudi Arabia’s 38 airports remain open and operational around the clock, and people’s lives and work continue as usual.”

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