ACWA Power has signed strategic agreements with three renowned Chinese entities on the sidelines of the second Belt and Road Forum for International Cooperation (BRF). The agreements with PowerChina, China Gezhouba Group Company (CGGC) and Bank of China will lay the ground for collaboration in key investments and further involve Chinese expertise in manufacturing power generation and desalinated water production plants that ACWA Power develops and operates. First out of three agreements took place during the Belt & Road CEO Conference. Mr. Padmanathan, President and Chief Executive Officer of ACWA Power, and Mr. WANG Lujun, Chairman of SEPCO III, signed an Engineering, Procurement and Construction (EPC) contract which grants SEPCO III Electric Power Construction Corporation, a subsidiary of PowerChina, to serve as the EPC contractor of Al Taweelah desalination plant. Located in Abu Dhabi, Al Taweelah is considered the desalination facility capable of supplying 200 million gallons per day. The collaboration is dedicated to improving people's access to water and promoting social development via construction and investment. Followed by the first signing, ACWA Power entered into an agreement with China Gezhouba Group International Engineering Company (CGGC Intl). Mohammed Abunayyan, Chairman of ACWA Power, signed a Cooperation Agreement with Mr. Lyu Zexiang, Chairman of CGGC Intl which outlines that CGGC was announced as the official EPC contractor in 2018 for Nam Dinh 1, a Greenfield Independent Power Project (IPP) located in Vietnam. CGGC will also assist sponsors to obtain project finance from Chinese financial institutions. Co-developed by ACWA Power and Korean Taekwang Power, the project was finalised at a total investment cost of more than USD 2.4 billion with the first phase yielding a production capacity of 1,200 MW. ACWA Power concluded its agreements with a MoU signed between Rajit Nanda, Chief Investment Officer at ACWA Power, and Mr. ZHANG Wei, the General Manager of Bank of China (Hongkong) Hochiminh City Branch. The MoU incorporates general financial service agreements for Nam Dinh 1 IPP. The Bank of China is one of the four biggest state-owned commercial banks in China and is the official leading financing bank for Nam Dinh 1 IPP.