Global developer ACWA Power has announced new clean energy and financing agreements worth US$10 billion (R173,6 billion) with a substantial portion directed at African markets, notably Southern Africa.
ACWA Power’s Chairman Mohammad Abunayyan describes the agreements as “a crucial step towards a more sustainable, reliable and affordable energy future”.
Key elements of the package include:
- A memorandum of understanding with African-focused energy group Chariot Limited to co-develop a utility-scale platform serving the Southern African Power Pool – this platform will target renewables, battery storage, gas-to-power and energy trading to bolster regional energy security and industrial development
- A framework agreement with the International Finance Corporation for up to US$1 billion (R17,3 billion) in Africa
- A partnership with the OPEC Fund for International Development for an initial US$450 million (R8,3 billion) investment in clean energy and water supply infrastructure in Africa
