Saudi Arabia's largest electricity company: Saudi Arabia is becoming the fastest country in energy transition, with green energy accounting for 25% | China Development Forum ( including video )

[Caixin] Saudi Arabia, the country with the richest oil endowment in the world, is becoming “the fastest country for energy green transition.” Mohammad Abunayyan, founder and chairman of Saudi International Power and Water Company (Acwa), made this statement. Saleh Al Khabti, chairman of Acwa China and former deputy minister of the Saudi Ministry of Investment, pointed out to Caixin that collaborating with Chinese companies can significantly reduce the costs of energy transition and accelerate the process.

“For my country, this is an extremely challenging time,” Abunayyan, the only representative from a Saudi company at the “2026 China Development Forum,” candidly stated during his speech at the “Global Green Low-Carbon Transition and Sustainable Development Seminar.” “Despite the war and the complex situations arising from the (U.S.-Iran conflict), Saudi Arabia’s 38 airports remain open and operational around the clock, and people’s lives and work continue as usual.”