At the invitation of Mongolia’s Deputy Prime Minister T. Dorjhand, Mr. Mohammed Abunayyan, founder and Chairman of the Board of Saudi Arabia’s “ACWA Power” company, visited Mongolia. During the meeting, Mr. Abunayyan expressed the company’s interest in making major investments in Mongolia’s renewable energy sector. The visit resulted in an agreement to cooperate on investment initiatives.

 

According to the proposal, ACWA Power plans to invest in renewable energy projects with a capacity of up to 10 GW in Mongolia by 2030. The project includes construction of renewable energy infrastructure, creating up to 50,000 new jobs, and supplying green energy to markets such as China, South Korea, and Japan, including through data transmission energy solutions.

 

A memorandum of understanding was signed to cooperate in 

developing green hydrogen production and technology.