Over the last month Saudi Arabia’s government-owned ACWA Power has signed roughly $10 billion in clean-energy and water-infrastructure agreements, stretching from the Gulf to Central Asia and Africa.
On paper, it’s a renewables story as they erect gigawatt-scale solar farms, grid-scale batteries, and desalination plants powered by clean electricity. Development finance is flowing into emerging economies. The deals were signed at the Future Investment Initiative (FII9) in Riyadh known as Davos of the Middle East.
But strip away the slick branding and this feels uncomfortably like a new-era greenwash: the same wealth built on hydrocarbons now deciding the fate of clean power.
One truth remains — oil money is now one of the biggest buyers of renewable infrastructure on the planet.
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comment: "clean electricity" vs "dirty electricity" which is what is in many of our 'old' homes and so not healthy.
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