ACWA Power promotes private sector role in the transition to a green economy

ACWA Power promotes private sector role in the transition to a green economy
Published: 2 October 2019 - 4:42 p.m.
By: Baset Asaba

ACWA Power, a developer, investor, co-owner and operator of a portfolio of power generation, renewable energy and desalinated water production plants worldwide, has stepped up its mission to play a key role in strengthening efforts towards achieving sustainable development around the world as it is one of the founding members of the World Green Economy Organization (WGEO) Private Sector Platform.

ACWA Power is highlighting its own effort’s contribution towards the transition to a green economy through the development of innovative power and water solutions aimed at energizing and empowering communities across the globe. The company also aims to provide a safe, sustainable and reliable supply of water and power at low costs, as well as support to other WGEO members through knowledge sharing.

Saeed Mohammed Al Tayer, Chairman of WGEO, said: “The private sector is vital to the development of a global green economy and our partnership with ACWA Power contributes to our common goal for a sustainable future, especially in the areas of energy, water, and technology. Through government programs and initiatives aimed at developing fruitful public-private partnerships in the region, private companies and enterprises also have a key part to play in attracting and driving investment into the supply chains, infrastructure, and innovations required to transition to a greener future.”

Al Tayer continued: “A robust green economy requires the active participation and interaction of a variety of stakeholders. WGEO is playing a significant role in bringing together all stakeholders.”

Since its establishment in 2016, WGEO has been working with businesses and private organizations to identify and progress key areas that would drive activities for the green economy such as unlocking green capital, harnessing frontier technologies, facilitating public-private partnerships, and promoting international cooperation and knowledge sharing of innovative and scalable projects.

Mohammad Abunayyan, Chairman of ACWA Power, said: “Offering sustainable energy at competitive rates will help countries to move away from traditional fuels and adopt clean and diversified energy resources alternatives. At ACWA Power, we deliver an equitable, sustainable, and prosperous future through the provision of these valuable resources; enabling ambitious sustainability plans to benefit communities and nations both regionally and internationally to guarantee energy security and diversification.”

Also, as the current chairman of WGEO’s Private Sector Platform, Abunayyan noted that through the WGEO, private organizations and companies seeking to take a lead step in this new economic generation will have the advantage to help direct the course of the future of businesses.

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