Riyadh:On the sidelines of the 25th WPC Energy Congress in Saudi Arabia, Acwa signed a memorandum of cooperation with Mongolia's Sun Steppe Power. The agreement aims to explore the cross-border export of renewable energy-generated electricity to China, with the signing taking place in the presence of Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz and Acwa Chairman Mohammad Abunayyan.

According to Saudi Press Agency, the memorandum outlines plans for the two companies to collaborate on developing renewable power generation projects in Mongolia specifically for electricity exports to China. The agreement also encompasses plans for utility-scale battery storage solutions for solar and wind energy, as well as the necessary transmission and export infrastructure to supply China or any other markets the companies agree upon.

The cooperation agreement sets the foundation for evaluating a cross-border project with a proposed capacity of 4.5 gigawatts, supported by a 500 megawatt-hour battery energy storage system.