ACWA Power, a major player in power generation and desalinated water plants, announced the signing of Memorandums of Understanding (MoUs) with US companies totaling $500 million at the Saudi–US Investment Forum in Riyadh. These agreements strengthen the existing partnerships between ACWA Power and American firms, exceeding $6 billion. The collaborations focus on advancing renewable energy solutions, green hydrogen production, solar energy projects, and energy-saving technologies to support Saudi Arabia's Vision 2030 and the goal of achieving net zero emissions by 2060. Raad Al Saady, Vice Chairman and Managing Director of ACWA Power, emphasized that these strategic partnerships with American companies are a significant investment in the future of Saudi Arabia, aligning with Vision 2030 objectives. ACWA Power aims to utilize American innovation and expertise to accelerate the development of renewable energy solutions, create jobs, diversify the economy, and promote sustainability in the Kingdom. ACWA Power's CEO, Marco Arcelli, highlighted the importance of value-driven partnerships to drive the company's strategy, especially in diversifying its portfolio, expanding into new markets, and meeting net zero emissions targets by 2050. The collaborations with US companies like GE Vernova, Baker Hughes, KBR, and Energy Recovery focus on deploying advanced technologies, enhancing energy efficiency, and fostering innovation in green hydrogen production. Notably, the agreement with Baker Hughes aims to test and implement innovations in green hydrogen production, leveraging expertise to develop electrolysis solutions and improve safety and efficiency. Other partnerships involve collaborations on solar energy projects, combined-cycle gas turbine projects, ammonia technology, and research for energy-saving operation technologies in seawater desalination plants. ACWA Power's MoUs with American companies underline its commitment to sustainable development and the energy transition, reflecting successful partnerships across various sectors. The company's collaborations extend to equity investments, technology development, and research initiatives with leading US companies and universities like Yale, MIT, and UCLA, contributing to economic diversification and job creation in Saudi Arabia.