On February 20th 2023, Sineng Electric and ACWA Power held a meeting to setup in-depth discussions about further promoting bilateral cooperation in the field of green energy and reached a consensus.Mohammad Abunayyan, Chairman of ACWA Power, Raad Al-Saady, Vice Chairman of ACWA Power, Kashif Rana, Chief Portfolio Management Officer of ACWA Power, Yunhe Lyu, Executive Vice President & General Manager of ACWA Power China, Qiang Wu, Chairman of Sineng Electric, Victor Duan, CEO of Sineng Electric, Jianfei Li, Vice President of Sineng Electric and other leaders attended the conference.
Mohammad Abunayyan, Chairman of ACWA Power, said that with the advancements and accomplishments of Saudi Vision 2030, ACWA Power intended to work with like-minded Chinese enterprises to push for global collaboration. As Sineng is a global leading PV inverter supplier, we believe that the potential for our tie-up is enormous, with bright prospects for economic growth and tremendous development opportunities. ACWA Power hopes to team up with Sineng, focusing on the photovoltaics and ESS sectors while exploring new business models in hydrogen energy.
Qiang Wu, chairman of Sineng Electric, expressed his sincere gratitude to ACWA Power for its recognition and support, and introduced in detail about the development history, advantages, and global business of Sineng. He stated that the two companies have a profound friendship and a solid foundation for partnership. In the future, Sineng will increase its investments in the market of Saudi Arabia, conduct more localization research, and continue delivering better services.
Sineng Electric has been concentrating on power electronics since its establishment to offer a wide range of competitive high-quality solutions. ACWA Power, as a developer, investor, and operator of a portfolio of power generation, desalinated water production plants, and green hydrogen, is one of Sineng’s closest allies. Given the already-robust and growing partnership between China and Saudi Arabia, Sineng looks forward to deepening ties and strengthening strategic relations with ACWA power, continuously expanding the scope of cooperation, and jointly promoting the application of renewable energy to help build a green Saudi Arabia and green Middle East, and create a blueprint for carbon neutrality.