JEDDAH: Saudi utility firm ACWA Power has achieved a milestone of 50 megawatts at its Redstone Concentrating Solar Power plant in South Africa and is set to reach full capacity soon.
In a press release, the company, in which the Public Investment Fund holds a 50 percent stake, stated that the project aims to provide clean energy to nearly 200,000 households while significantly reducing carbon emissions, with a total capacity of 100 MW.
The successful synchronization of Redstone with South Africa’s national grid, facilitated by partnerships with Herlogas and SEPCOIII, reinforces ACWA Power’s position as a leading private investor in Africa's renewable energy sector, it added.
With a plan to triple its business size announced in 2023, ACWA Power continues to expand globally, driven by its mission to deliver affordable and reliable energy solutions that foster economic and social development.
Marco Arcelli, CEO of ACWA Power, said: “Our investments in Africa reflect our commitment to sustainable growth through strategic partnerships and leading-edge technology. ACWA Power is not only a financial leader but also a responsible partner and a pioneer in shaping Africa’s energy and water future.”
He added that his company is keen to make additional investments in the most promising opportunities, aiming to bring positive change to communities throughout the continent.
Additionally, the company noted that the Kom Ombo Photovoltaic plant in Egypt has reached its full production capacity of 200 MW, providing clean energy to over 200,000 households, marking another milestone in its African portfolio.
With current investments totaling $7 billion across Africa, ACWA Power stands as a leading private-sector investor in renewable energy on the continent.
Beyond power generation, the Saudi-listed company is advancing in green hydrogen, energy storage, and water desalination, thus strengthening Africa’s renewable energy and water landscape for the future.
Recent agreements with the Egyptian and Tunisian governments underscore ACWA Power’s dedication to promoting green hydrogen initiatives and expanding its influence across the continent.
Currently, ACWA Power manages a global portfolio of 65 gigawatts and has achieved record-low costs in power generation, water desalination, and potentially green hydrogen, with production expected from NEOM Green Hydrogen Company by 2026 — crucial for providing affordable and accessible solutions worldwide.
With the lowest levelized water tariff globally, ACWA Power is positioned to enhance access to affordable, clean water across Africa, supporting its commitment to sustainability.
