China Essential for Global Green Transition Says Saudi Energy CEO

At the recent China Development Forum 2026, Saudi ACWA Power chairperson Mohammad A. Abunayyan emphasized China's essential role in the global transition to renewable energy. He noted the deepening economic ties between the two nations and affirmed ACWA Power's commitment to enhancing its investments in the Chinese energy sector.

During a clean energy sub-forum at the event, Abunayyan acknowledged the challenges posed by global uncertainties and conflicts in the Middle East. He stressed the importance of international collaboration during these trying times and reiterated China's significance in fostering the global energy shift.

China stands as the world's largest energy consumer, while Saudi Arabia holds the distinction of being China's primary trading partner in the Middle East. Conversely, China ranks as Saudi Arabia's top global trading partner.

Despite their substantial fossil fuel trade, both countries are accelerating their initiatives aimed at transitioning towards a sustainable energy future.

In alignment with its Vision 2030, Saudi Arabia has been aggressively pursuing economic diversification beyond oil, a transition that has gained momentum in recent years.

China's Outline of the 15th Five-Year Plan (2026-30) maps out a progressive strategy to foster a green and low-carbon economy. This ambitious plan encompasses 18 key projects targeting peak carbon emissions, enhanced environmental quality, and ecological restoration, as detailed in the 2026 Government Work Report.

Abunayyan praised China's five-year plan for its ambitious objectives, highlighting the nation's track record of moving from vision to reality. He stated, "This is what makes China remarkable and trustworthy, as it does not merely set forecasts but actively works to achieve them."

Other industry leaders echoed Abunayyan's sentiments at the CDF 2026. ABB CEO Morten Wierod noted that China's dual carbon goals are rapidly transforming its industrial and energy landscape, creating the world's largest and fastest-growing renewable energy system.

Wierod acknowledged that China's renewable power capacity accounts for over 60 percent of the global total, expressing confidence in China's ongoing commitment to a sustainable future.

Duncan Wanblad, CEO of Anglo American, affirmed that China is pivotal not only to business but also to the overall global green transition, with its leadership significantly altering the energy industry's landscape.

Looking ahead, Abunayyan disclosed that ACWA Power plans to invest over 30 billion dollars in China by 2030, focusing on sectors such as renewable energy, energy storage, green hydrogen, and desalination projects.

He highlighted the company's partnerships with prominent Chinese power firms to deploy desalination technologies internationally and to engage in cooperative investments in 15 nations as part of China's Belt and Road Initiative. Abunayyan concluded by recognizing China's clear and effective policy framework as a source of strong predictability for foreign investors, asserting that China's role is indispensable for the global energy transition.