Saudi Arabia’s ACWA Power has stepped up its focus on green hydrogen and renewables by joining the Institute of Energy Economics, Japan, a leading think tank on energy and environmental issues.
The utility major announced the membership on the sidelines of the Saudi-Japan Investment Forum and said the membership will allow it access to IEEJ’s extensive database of original research.
According to the statement, the membership will enable ACWA Power to stay at the forefront of cutting-edge energy research and contribute to the company’s commitment to supporting sustainable progress and development.
“We’re incredibly excited about our new status as a full member of the IEEJ,” said ACWA Power CEO Marco Arcelli in the statement.
He added: “By leveraging this membership, ACWA Power is well-positioned to actively engage in the advancement of green energy technologies, thereby accelerating the transition toward a more sustainable and renewable energy future.”
Speaking during a panel session earlier in December, ACWA Power Founder Mohammad Abunayyan outlined the need for a robust foundation of knowledge and talent to navigate this transition successfully.
“The old industry and the old economy are not relevant to the new economy. In Saudi Arabia, we have a new economy, thanks to our leader, and we need to be fast to prepare our youth for this economy,” said Abunayyan.
He encouraged all the giga-projects, such as NEOM, The Red Sea Project and Qiddiyah, to have technical institutes to prepare the young talent.
“The great news is that we have young talent who is very serious and committed. They will be the future and deliver our ambitions 100 percent,” said the ACWA Power founder.
Abunayyan also pointed out that infrastructure development in the Kingdom has led to increasing opportunities in the operations and maintenance of the facility management sector.
Therefore, he added, there is a need to focus on developing technical skills or vocational training.
Speaking at the Saudi-Japan Investment Forum 2023 in Riyadh, Investment Minister Khalid Al-Falih on Monday reiterated the Kingdom’s commitment to promote green energy and vowed to become the world’s No. 1 exporter of green hydrogen.
Al-Falih highlighted the strategic ties between the two countries. He said Japan was the first country to receive a consignment of blue ammonia from Saudi Arabia.