Saudi Arabia's ACWA Power has signed a memorandum of understanding with Japan's ITOCHU Corp. at COP29 to strengthen investments in environmental infrastructure and renewable energy across the Middle East, Central Asia, and Africa. The partnership aims to accelerate the global energy transition and address climate change challenges. ACWA Power, the world's largest private water desalination company, is committed to achieving net-zero emissions by 2050, while ITOCHU Corp. aims to achieve a balance between societal needs and business expansion. The collaboration will advance progress in renewable energy projects and green hydrogen production.