PROJECTS: Next decade about scaling green tech beyond transition demand - ACWA Power’s Al-Saady

First published: 03-Oct-2025 09:03:34

Staff Writer

The next decade will be about scaling up and deploying green technologies in a wide range of industrial applications, the Vice-Chairman and Managing Director of ACWA Power said on Wednesday.

“I think the next 10 years is going to be not just about feeding current [energy] demand or energy transition; it is also around taking the green technology and doing more with it,” Raad Al-Saady said at a panel discussion in World Green Economy Summit (WGES).

Raad Al-Saady, Vice-Chairman and Managing Director of ACWA Power

These include e-SAF (sustainable aviation fuel), e-methanol, and greening of mining.

ACWA Power, in which Saudi Arabia’s Public Investment Fund owns a significant stake, started with conventional power projects before moving into renewables. In 2019, its board approved investments in green hydrogen, which, Al-Saady noted, “effectively takes the many different technologies that we have and creates an integrated product [which is] green hydrogen.”

 “The next step is how we use green hydrogen – some of it will be exported, of course, but some of it needs to be used here in the region, whether it's for agricultural use, aviation use, green industry, green mining, [or] green data centres," he said.

NEOM Green Hydrogen Company (NGHC), in which ACWA Power is an equal partner with NEOM and Air Products, announced last month that more than 80 percent of the construction work on its green hydrogen project in Oxagon in northwest of Saudi Arabia is complete.

In August 2025, ACWA Power awarded Tecnicas Reunidas and Sinopec Guangzhou Engineering a convertible FEED contract for the Yanbu green hydrogen project.

(Reporting by Anoop Menon; Editing by SA Kader)

(anoop.menon@lseg.com)

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