A total of five major project contracts were signed during the Financial Street Forum 2022 Annual meeting held in Beijing recently, one of which was an investment cooperation agreement between China's Silk Road Fund and Saudi Arabian energy company ACWA.

The two sides will jointly invest $1 billion in a wind power plant with a total installed capacity of 1.5 gigawatts in Ukala Kalpakstan. When completed, it will be the world's windiest power station, providing electricity to more than 1.5 million homes.

Previously, the Syr River 1.5GW gas combined cycle Power plant in Uzbekistan, which China NENGjian and ACWA Power are working on, started pre-construction in October 2020 and is expected to be completed by the end of 2023. It has become one of the typical projects of China-Uzbekistan Belt and Road cooperation and China-Saudi Arabia third-party market cooperation.

In 2018, China NENG Construction and ACWA Power signed a strategic cooperation agreement in Dubai to cooperate in power and desalination projects in the Middle East and Asia. Up to now, the cooperation projects between China NENG Construction and ACWA Power have included the Umgewan desalination project in the United Arab Emirates and the Syr River 1.5GW gas combined cycle power plant project in Uzbekistan. Editor/Xu Shengpeng