Recently, ACWA Power, a leading global renewable energy developer, signed a long-term strategic cooperation framework agreement with China's new energy technology company, Far East Energy. Both parties will focus on the Middle East, North Africa (MENA), and key global new energy markets, with the core logic of "technology innovation empowering project implementation and project practice feeding back technology iteration". They will engage in deep cooperation in wind power, photovoltaics, energy storage, green hydrogen, and other fields to jointly promote the global energy transformation process.

As the core highlight of this cooperation, the "technology+project" dual driving mode will run through the entire process of cooperation. On the technical level, Far East Energy will leverage its core advantages in intelligent wind turbines, energy storage systems, green hydrogen production technology, and digital energy management platforms. Combined with ACWA Power's rich experience in global renewable energy project development and localized operation, we will jointly carry out customized technology research and development for different regional climate characteristics and power grid conditions, optimizing the power generation efficiency, stability, and economy of new energy projects. For example, in response to the environmental characteristics of high wind speeds and extreme temperature differences in the MENA region, both parties will jointly develop wind power equipment and operation and maintenance solutions with stronger adaptability, in order to enhance the overall life cycle benefits of the project.

At the project implementation level, both parties plan to jointly promote the development and construction of multiple GW (gigawatt) level new energy projects in the coming years, covering diverse scenarios such as wind power, photovoltaic power stations, integrated photovoltaic storage projects, and green hydrogen production bases. The first batch of cooperation projects will focus on core markets in the MENA region such as Saudi Arabia, the United Arab Emirates, and Egypt. Leveraging ACWA Power's local resource reserves and policy integration advantages, as well as Far East Energy's supply chain integration capabilities, the projects will be quickly implemented and effective. At the same time, both sides will also explore cooperation opportunities in other emerging new energy markets around the world, gradually expanding the scope of cooperation.

The achievement of this cooperation is due to the high degree of alignment between the two parties in the global energy transition goals. As a leading global player in the renewable energy sector, ACWA Power operates in 13 countries with over 42GW of ongoing and operational energy projects, committed to addressing global climate change through clean energy solutions; Yuanjing Energy, with the mission of "solving challenges for a sustainable future for humanity," continues to deepen its research and industrial application of new energy technologies. Its intelligent wind turbines, energy storage systems, and other products have served energy projects in multiple countries and regions around the world. The joint efforts of both parties will achieve complementary advantages of "technology output+project development+localized operation", providing an example for the large-scale development of the global renewable energy industry.

From the perspective of industry impact, the long-term cooperation between ACWA Power and Far East Energy will not only further activate the potential of the new energy market in the MENA region, create green employment opportunities for the local area, promote energy structure optimization, but also promote the deep integration of China's new energy technology with the global market and accelerate the global promotion of new energy technology. In emerging fields such as green hydrogen and energy storage, joint research and project practice between the two sides will help reduce technology costs, improve the industrial chain, and provide more feasible solutions for global energy transformation.

The person in charge of ACWA Power stated that Far East Energy's technological innovation capabilities and global service experience are highly aligned with the company's development strategy. This cooperation will be an important measure for ACWA Power to deepen technological cooperation and expand global business. We look forward to creating more benchmark new energy projects through the collaborative efforts of both parties. In terms of Far East Energy, it emphasizes that it will take the signing of this agreement as an opportunity to continue investing in technology research and development, work together with ACWA Power to build a sustainable cooperative ecosystem, and contribute to the global goal of "carbon neutrality".

At present, both parties have established a joint working group to clarify the timeline and roadmap for the first batch of cooperative projects. The preliminary work such as technical docking, project site selection, and policy research has been fully launched. With the gradual implementation of cooperation, this "technology+project" dual driven strategic cooperation model is expected to become a new benchmark for global new energy enterprise cooperation, injecting strong impetus into promoting global energy transformation.Editor/Bian Wenjun