Saudi Arabia’s ACWA Power has invested over $7 billion in renewable energy projects, positioning itself as a top private investor on the continent.
At a recent panel at the Future Investment Initiative New Africa Summit, CEO Marco Arcelli shared that these investments are fully dedicated to renewable energy.
This focus aligns with ACWA Power’s goal to triple its business size and expand its reach globally, working to provide affordable and reliable energy that drives both economic and social growth.
One of ACWA Power’s major projects is the Redstone Concentrated Solar Power (CSP) plant in South Africa. The plant, which now has a production capacity of 50 megawatts, aims to reach 100 megawatts soon.
When fully operational, it will deliver clean energy to about 200,000 households, cutting down carbon emissions by offsetting around 440 metric tons of CO₂ each year.
The project is expected to create roughly 2,000 construction jobs and nearly 100 permanent positions, highlighting how renewable energy can generate local employment and support economic growth.
In Egypt, ACWA Power is also making headway with the Kom Ombo solar photovoltaic (PV) plant. This 200-megawatt plant has achieved full production capacity and will supply electricity to over 130,000 households.
It supports Egypt’s goal of producing 42% of its power from renewables by 2035. In addition to providing clean energy, the plant is set to offset about 336,000 tons of carbon dioxide emissions annually.
The construction phase created approximately 800 local jobs, emphasizing the socio-economic advantages of investments like this.
The impact of ACWA Power’s projects goes beyond just producing energy. By addressing energy shortages in areas with limited access to reliable electricity, these efforts improve quality of life and expand opportunities for education and healthcare.
Reliable energy access can boost productivity in local businesses, supporting the overall development of these communities.
ACWA Power’s investments are also essential for environmental sustainability in Africa. Transitioning to renewable energy helps fight climate change and provides cleaner air for communities.
The Redstone CSP plant, with its advanced thermal storage technology, can store energy for use even when the sun isn’t shining, ensuring a steady power supply.
Looking ahead, ACWAPower plans to continue growing its renewable energy footprint in Africa. The company is exploring new opportunities in green hydrogen and battery storage, technologies that are key to strengthening the region’s energy sector.
Through strategic partnerships and advanced technologies, ACWA Power aims to build a sustainable future that benefits both the environment and local communities.
These projects bring clean energy, job creation, and economic growth while addressing critical environmental issues.
As the company expands its reach across the continent, it remains dedicated to positively impacting communities and promoting sustainable development through innovative energy solutions.
