On the morning of November 10, Wu Lei, Chairman of Shanghai Electric Group, met in Shanghai with Marco Arcelli, CEO of ACWA Power. The two sides held constructive discussions on deepening cooperation across multiple fields and jointly expanding the global new energy market. Zhu Zhaokai, Deputy Party Secretary and President of Shanghai Electric Group, attended the meeting.

Wu Lei expressed his appreciation for ACWA Power’s trust and collaboration over the years. He noted that the CSP-PV hybrid project jointly developed by the two companies in Dubai has become a benchmark for high-standard, sustainable energy cooperation, providing strong support for the region’s energy transition. Looking ahead, Wu Lei stated that global energy transition and sustainable development have become a shared global goal. Shanghai Electric looks forward to working more closely with ACWA Power to consolidate existing cooperation while exploring collaborative innovation and joint investment in green hydrogen, energy storage technologies, and seawater desalination. Leveraging each other’s strengths, the two sides will continue providing advanced, reliable and customized technologies and equipment, delivering more competitive and locally adapted integrated energy solutions for markets in the Middle East and around the world, and contributing to sustainable development across cooperative regions.

Arcelli expressed his appreciation for Shanghai Electric’s outstanding execution and technical expertise displayed throughout project delivery. He pointed out that China’s technology and experience in new energy carry global value, and that Saudi Arabia’s "Vision 2030" and the China-proposed Belt and Road Initiative create significant potential for bilateral cooperation. ACWA Power places high importance on its strategic partnership with Shanghai Electric and aims to continuously innovate cooperation models, enhance execution efficiency, and deepen collaboration in wind power, CSP-PV hybrid projects, and energy storage. Together, both sides seek to seize emerging opportunities brought by the global energy revolution, open a new chapter of cooperation, and create long-term value for the energy security, economic prosperity, and sustainable development of host countries.

Jin Xiaolong, Member of the Party Committee and Vice President of Shanghai Electric; Qiao Yinping, Chief Operating Officer; Saleh Al Khabti, President of ACWA Power China; and other representatives attended the meeting.