Saudi and China sign 34 investment agreements: Saudi Arabia and China signed a series of agreements during Chinese President Xi Jinping’s three-day visit to the Kingdom last week — several of which focus on green energy, according to SPA. The countries also agreed to hold leadership summits every two years, in a meeting between Xi and Saudi Crown Prince Mohammed bin Salman, Bloomberg noted on Thursday.

Acwa Power’s going big on clean energy partnership with Chinese firms: Saudi renewables player Acwa Power signed nine MoUs with Chinese entities in financing, investment, construction, and engineering and equipment procurement for its clean energy projects in both Saudi Arabia and the countries in China’s Belt and Road Initiative, it said in a statement.

In detail: Acwa Power signed a USD 1.5 bn agreement with Power China that will see the two companies work together on infrastructure and services for Saudi Arabia’s Red Sea Project, Al Arabiya quotes Acwa Power China Vice President and Chief Representative Yunhe Lyu as saying, without providing further details. Acwa had previously signed a 25-year utilities concession agreement for the “construction, engineering, operations, and maintenance of the plants delivering power” under a build-own-operate-transfer project. Acwa also reached a preliminary agreement with an unnamed Chinese agreement to develop 3.2 GW of solar power in an unspecified location, Yunhe said. The final contracts for the project are set to be signed before the end of the year and implementation is expected to begin next year.

And Aramco wants to collaborate on hydrogen and carbon capture: Saudi oil company Aramco signed an MoU with China’s state-owned coal mining company Shandong Energy to cooperate in technologies ranging from renewables to hydrogen and carbon capture and storage, WAM reports.

There’s also a new EV factory in the works: Saudi-based institutional investor Sumou signed an MoU with China’s Enovate to set up an EV factory in Saudi with the capacity to produce some 100k cars per year, Reuters notes.