ACWA Power : partners with IRENA to spearhead global renewable energy transformation

18

April

2024

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17:01

Europe/Amsterdam

ACWA Power partners with IRENA to spearhead global renewable energy transformation

Riyadh, Saudi Arabia; 18 April 2024: Saudi-listed ACWA Power, the world's largest private water desalination company, and a leader in energy transition and first mover into green hydrogen, signed an agreement to partner with the International Renewable Energy Agency(IRENA), the lead global intergovernmental agency for energy transformation, to drive the worldwide transition to renewable energy sources.

Summary

The agreementwill provide a framework for cooperation for the implementation of sustainable energy solutions.

This partnership with IRENA aligns with ACWA Power's mission to provide sustainable energy solutions, and aims to accelerate the adoption and sustainable use of renewable energy across the globe.

Through this partnership, ACWA Power will collaborate with IRENA to exchange vital information on infrastructure investment for renewable energy, green hydrogen development, solar power, smart grids, and the energy-water nexus. Additionally, ACWA Power will participate in IRENA initiatives, including Green Hydrogen, Collaborative Frameworks, Project Facilitation, the Alliance for Industry Decarbonization, the Utilities for Net Zero Alliance, and the Coalition for Action.

ACWA Power and IRENA will explore opportunities to mobilise finance and investment in renewable energy projects and support infrastructure, facilitating the development, storage, distribution, transmission, and consumption of renewables. Furthermore, joint workshops and seminars will be organised to share best practices, strengthen capabilities, and raise awareness of the energy transition among youth, professionals, and the public through IRENA's platforms and programmes.

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"Our partnership with IRENA marks a significant milestone in our journey towards a sustainable energy future. By combining our strengths and resources, we are prepared to drive meaningful change and accelerate the transition to renewable energy on a global scale."

Marco Arcelli, Chief Executive Officer of ACWA Power

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"Through collaborative partnerships and innovative solutions, ACWA Power remains committed to advancing the widespread adoption and sustainable use of renewable energy, shaping a brighter and more sustainable future for generations to come." he added.

Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA) added: "We have less than a decade left to secure a fighting chance for a 1.5°C world. Accelerating the renewable-based energy transition needs industry leaders,and this MoU between IRENA and ACWA Power stands for the growing commitment of the globalindustry to act on decarbonization. There is no alternative to the energy transition. We need to act together to accelerate the sustainable use of renewables and green hydrogen across the globe.

As a premier platform for international cooperation, IRENA plays a pivotal role in supporting countries in their energy transitions, fostering sustainable development, and ensuring energy security.