May 21, 2024
SBI Holdings Co., Ltd.
SBI Holdings Co., Ltd. (Headquarters: Minato-ku, Tokyo; Chairman and CEO: Yoshitaka Kitao; hereinafter “the Company”) is ACWA POWER COMPANY (Headquarters: Saudi Arabia, Founder and Contributors of the Board of the Board of) is the world's largest seawater dechlorination company, a leading energy transition company, and a pioneer of green hydrogen We are pleased to announce that we have signed a basic agreement with Directors: Mohammad A. Abunayyan (hereinafter “ACWA”) for a business alliance.
ACWA is known as one of the world's largest private companies developing power generation and seawater desalination businesses in countries around the world, and operates, constructs, or develops 82 bases in 13 countries. Through new projects such as renewable energy, high-efficiency combined cycles, green hydrogen, and seawater dechlorination, the company has set a strategy to triple its global business scale and raise the amount of assets under management from $85.7 billion to $250 billion by 2030.
Based on this basic agreement, the SBI Group and ACWA will consider a business alliance with the following items.
Furthermore, the details of the business alliance are not limited to the above items, and there is a possibility that it will expand due to mutual agreement between the SBI Group and ACWA.
Until now, in addition to coestablishing investment funds with leading local partners in the Middle East region and implementing investments, we recently concluded a basic agreement with Aramco, a global comprehensive energy and chemical company in Saudi Arabia in 2023/12, and established SBI Middle East as the SBI Group's Middle East base in the capital Riyadh in 2024/2, further expanding our business in the Middle East region, such as establishing SBI Middle East as the SBI Group's Middle East base in the capital Riyadh We are promoting it.
Through our partnership with ACWA, we aim to build a strong and flexible cooperative relationship between the two, and will contribute to the development of cooperative relationships in the economic field between Japan and Saudi Arabia.
[About ACWA]
ACWA Power (TADAWUL: 2082) is a Saudi Arabian listed company, the world's largest seawater dechlorination company, a leading energy transition company, and a pioneer in green hydrogen. The company was registered and established in 2004 in Riyadh, Saudi Arabia, and currently has more than 4,000 employees, and currently operates in 13 countries in the Middle East, Africa, Central Asia, and Southeast Asia. The company's portfolio consists of 82 projects, including those in operation, development, and construction, with an investment amount of 321.3 billion Saudi riyals (US$85.7 billion), a power generation capacity of 55.1 million kW, and a seawater dechlorination capacity of 8 million cubic meters per day.
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