ACWA Power, based in Baku, Azerbaijan, recently signed Memoranda of Understanding worth $500 million with various US companies during the Saudi–US Investment Forum in Riyadh. These agreements are part of ACWA Power's efforts to strengthen cooperation between Saudi Arabia and the United States in the energy sector. The partnerships will focus on renewable energy, hydrogen production, and water desalination projects, aligning with Saudi Arabia's Vision 2030 and its goal of achieving net zero emissions by 2060. ACWA Power plans to implement advanced tracker technologies in solar energy projects to reduce costs and increase local manufacturing. Collaborations with GE Vernova will involve testing new technologies in gas turbine projects and electricity systems in Saudi Arabia. In the green hydrogen sector, ACWA Power will work with Baker Hughes to develop electrolysis solutions for enhanced safety and efficiency, with potential for local manufacturing. Additionally, agreements with KBR aim to utilize their ammonia technology for large-scale projects, including programme management and operational support. The company also partnered with Energy Recovery to research energy-saving technologies in seawater desalination plants, focusing on enhancing energy efficiency. These deals showcase ACWA Power's strategy of international collaboration for innovation and technology transfer, building on existing partnerships with US companies like Air Products, EIG, and DuPont, as well as academic institutions such as Yale University, MIT, and UCLA.