Enel Green Power has signed an agreement with Qatar Investment Authority (QIA) for a joint venture partnership to finance, build and operate renewable projects in Sub-Saharan Africa.
In the first phase, the transaction involves the acquisition by QIA of 50% of Enel’s stake in four projects under construction in South Africa and two plants in operation in the same country as well as in Zambia, for a total capacity of 800MW.
The overall transaction is subject to the "change of control approval" and antitrust clearance from relevant institutions and regulatory authorities.
Under the transaction, Enel and QIA will form a new legal entity for future developments in Sub-Saharan Africa.