Saudi renewables firm ACWA Power eyes major China expansion: What to know

ACWA Power, the Saudi Arabian renewable energy company majority owned by the country’s sovereign wealth fund, the Public Investment Fund, is planning a major expansion into China, according to the founder of the Riyadh-based firm.

What happened: Speaking at the so-called Summer Davos meeting in Tianjin, China, ACWA Power’s founder and chairman, Mohammed Abunayyan, was bullish about the country’s renewable energy market and long-term growth prospects.

“China, now the world’s largest…