Image: Energy China
Two of China’s largest state-owned energy enterprises have inked major cooperation agreements with Saudi partners for solar and wind power projects, with a total contract value exceeding RMB 30 billion (US$4.2 billion) — a milestone in China-Saudi renewable energy collaboration.
PowerChina Secures Afif PV Projects Worth RMB 11.7 Billion
On October 11, PowerChina announced that its subsidiaries — China Hydropower Construction Group International Engineering and PowerChina Huadong Engineering Corporation Limited — formed a consortium with China Power Construction Group to sign contracts with Saudi Afif Renewable Energy Company for the Afif 1 PV IPP Project and Afif 2 PV IPP Project.
The contract values are approximately RMB 5.843 billion and RMB 5.876 billion, respectively, totaling RMB 11.719 billion.
Located in Afif Town, Riyadh Province, both projects will include the construction of a 2,000 MW solar power site, 33/132kV booster stations, 132kV transmission lines, grid connection facilities, and access roads. The construction period is estimated at 26 months.
PowerChina stated that robust overseas demand has driven strong growth in 2025, with the value of newly signed overseas contracts reaching RMB 179.841 billion between January and August — a 21.9% year-on-year increase. The company highlighted the new energy sector as a key driver of its international expansion.
Energy China Signs US$2.7 Billion in Solar and Wind EPC Contracts
Also on October 11, Energy China announced that a consortium of its subsidiaries — China Energy Construction International Construction Group, China Energy Construction Group Guangdong Huodian Engineering, and China Power Engineering Consulting Group Northwest Electric Power Design Institute — signed three new EPC contracts with a Saudi project company jointly established by Saudi International Power and Water Company, Saudi Aramco Power Company, and the Saudi Public Investment Fund (PIF).
The combined contract value is approximately US$2.745 billion (RMB 19.554 billion), covering three large-scale renewable projects:
· 2GW Furais PV Project (PIF Phase VI) – Contract value: US$831 million, construction period: 26 months
· 1GW Shakira Wind Power Project (PIF Phase V) – Contract value: US$663 million, construction period: 26 months
· 2GW Stella Wind Power Project (PIF Phase V) – Contract value: US$1.251 billion, construction period: 30 months
All three projects are part of the Saudi PIF renewable energy portfolio, aligning with the kingdom’s Vision 2030 strategy to diversify its energy mix and accelerate clean power development
China’s Energy Enterprises Strengthen Global Presence
Energy China’s announcement highlights the growing role of overseas markets in its business performance. The company reported RMB 290.92 billion in newly signed overseas contracts during the first three quarters of the year — a 12.05% year-on-year increase, significantly outpacing the 2.25% growth in its domestic market.
Together, these major deals underscore the accelerating China-Saudi cooperation in renewable energy, as both nations deepen ties in green infrastructure, power engineering, and sustainable development.
