Wind turbines and photovoltaic panels in Yancheng, East China's Jiangsu Province deliver reliable green energy on August 15, 2024. According to data from the National Energy Administration, as of July, China's installed renewable energy power generation capacity reached 1.65 billion kilowatts, up 25 percent year-on-year. Photo: VCG

On the sidelines of the China Development Forum 2026 (CDF), Mohammad A. Abunayyan, chairperson of Saudi ACWA Power, told the Global Times on Monday that China is "indispensable" to the global green transition, pledging to further expand the company's investment in the Chinese energy market.

One day earlier, speaking at a clean energy sub-forum at the CDF 2026, Abunayyan said that attending the event amid global uncertainties and the shadow of conflicts in the Middle East was not easy, underscoring the importance of international cooperation during challenging times. He still emphasized China's pivotal role in advancing the global energy transition, describing it as a core partner for ACWA Power in areas ranging from engineering construction to equipment supply.

China remains the world's largest energy consumer, while Saudi Arabia is China's largest trading partner in the Middle East. China, in turn, is Saudi Arabia's top trading partner globally. 

Despite the massive scale of fossil fuel trade, both countries are accelerating their efforts toward the energy transition. 

Since the launch of Saudi Vision 2030, Saudi Arabia has stepped up efforts to diversify its economy beyond oil, the Xinhua News Agency reported. 

Meanwhile, China's Outline of the 15th Five-Year Plan (2026-30) for national economic and social development proposes an ambitious road map to promote the green and low-carbon transition, with 18 projects that aim to achieve peak carbon emissions and carbon neutrality, improve the environment, and promote ecological conservation and restoration, the 2026 Government Work Report noted.

"China's five-year plan has set great ambitious goals for the implementation of all these sectors, and that is what makes China so remarkable: it is not just about making forecasts or setting ambitious targets, but about turning them into reality," said Abunayyan. "That is why China is unique, and that is why we trust China."

Such confidence was also expressed by other corporate executives at the CDF 2026. ABB CEO Morten Wierod said in his speech at the side-event on Sunday that guided by its dual carbon goals, China is reshaping its industrial and energy landscape at an unprecedented pace.

Wierod added that the country has built the world's largest and fastest-growing renewable energy system, with installed renewable power capacity accounting for more than 60 percent of the global total. 

He said that these achievements are highly encouraging, and China's firm commitment and tangible progress toward a green and sustainable future continue to inspire his company.

China is not only central to our business, but also at the heart of the global green transition, said Duncan Wanblad, CEO of Anglo American, adding that China's leadership is reshaping the landscape of the global energy industry.

China is building a modern energy framework that integrates decarbonization, industrial upgrading, and energy security, according to Wanblad's speech, which noted that Anglo American is committed to supporting China's goals and working closely with its Chinese partners to jointly build a greener and more sustainable future.

Based on robust momentum, Abunayyan revealed that ACWA Power plans to invest more than $30 billion in China by 2030, focusing on renewable energy, energy storage, green hydrogen and desalination projects. 

He added that the company has partnerships with major Chinese power companies to apply desalination technologies to overseas markets and is also advancing investment cooperation in 15 partner countries under the China-proposed Belt and Road Initiative.

Abunayyan said that China's policy framework—clear, consistent, and highly executable—offers strong predictability for foreign investors. 

"In fact, China is the enabler of the global energy transition. Without China, there would be no energy transition, no green energy industry, and none of these advancements would be possible," he noted.