ACWA Power`s Collaboration with China`s Belt and Road Initiative: Global Growth or Strategic Dependence?

Case Code: BSTR699
Case Length: 14 Pages
Period: 2010-2024
Pub Date: 2025
Teaching Note: Available

Price: Rs.400
Organization : ACWA Power
Industry : Energy
Countries : Saudi Arabia
Themes: Corporate Strategy, Growth Strategy International Business,Strategic Alliances

Abstract Case Intro 1 Case Intro 2 Excerpts

Introduction

On July 18, 2024, Saudi-listed global leader in energy transition and renewable energy solutions International Company for Water and Power Projects (ACWA Power) completed the sale of a 35% stake in its two Asian units, ACWA Power Bash Wind Project Holding Company Limited and ACWA Power Uzbekistan Wind Project Holding Company limited, to China Southern Power Grid International (HK), the global investment arm of China Southern Power Grid. Marco Arcelli (Arcelli), CEO of ACWA Power, which developed, invested, and operated a portfolio of power generation and water desalination plants, stated, “Through strategic collaboration with China Southern Power Grid International, we are proud to announce a significant milestone in our journey towards sustainable energy solutions.” The combined capacity of the two plants (ACWA Power Bash and ACWA Power Dzhankeldy wind farms) was 1GW, and their investment costs exceeded US$1.3 billion. The alliance aimed to build benchmark projects and support the ‘Uzbekistan’s 2030’ goal by utilizing synergies, according to Tang Yifeng (Yifeng), vice-president of China Southern Power Grid..

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