ACWA Power, a leading Saudi developer, investor and operator of power generation and water desalination plants in 13 countries and the lead shareholder in the Redstone concentrated solar power (CSP) plant, announced the commencement of construction on the 100 MW Redstone project following achievement of financial close. At ZAR 11.6 billion total investment, the Redstone project is the largest renewable energy investment in South Africa to date.
The project has secured financing from leading international and South African financial institutions including African Development Bank (AfDB), ABSA Bank, Development Bank of Southern Africa (DBSA), CDC Group, Nedbank Limited, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), Deutsche Investitions- und Entwicklungsgesellschaft (DEG), Investec Bank and Sanlam Life Insurance. For further information see the IDTechEx report on Distributed Generation: Off-Grid Zero-Emission kW-MW 2020-2040.
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ACWA Power, a leading Saudi developer, investor, and operator of power generation and desalinated water plants in 13 markets, has finalised the project agreements for the 200 MW Kom Ombo PV plant in Egypt.
The signing of the 25-year power purchase agreement (PPA), network connection contract and usufruct agreement was conducted via a virtual ceremony held with senior government officials and representatives from the Egyptian Electricity Transmission Company (EETC); The New and Renewable Energy Authority (NREA), and ACWA Power.
The agreements were signed by Eng. Sabah Mashaly, Chairman of EETC; Dr. Mohamed Al-KHayat, Chairman of NREA; Rajit Nanda, Chief Portfolio Management Officer and acting CIO of ACWA Power; and Eng. Hassan Amin, Country Development Director- Egypt, ACWA Power.
Acwa Power signs financing package for gas power project in Uzbekistan timesofoman.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesofoman.com Daily Mail and Mail on Sunday newspapers.
Acwa Power secures $125m Apicorp funding for future projects
RIYADH, January 6, 2021 Apicorp, a leading multilateral development financial institution, said it has signed a $125 million shariah-compliant corporate facility with Acwa Power, a major Saudi developer, investor and operator of power generation and desalinated water plants worldwide, to support its future growth pipeline. Announcing the deal, Apicorp said it is aligned with Apicorp and Acwa Power’s shared mission of accelerating the energy transition in the Mena region and globally through green technologies, which currently comprise over 15% of Apicorp’s financing portfolio. The facility has been earmarked for funding Acwa Power’s investments in renewable projects in the countries it operates in, as well as future high-growth markets.