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ACWA Power seals $1.45 billion Africa deal
Source: ACWA Power
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Saudi Arabia’s ACWA Power has signed agreements worth more than $1.45 billion with the International Finance Corporation (IFC) and the OPEC Fund to advance clean energy, water and storage projects across Africa. The colossal sum puts the company in a strong position to compete with regional rivals such as Masdar and AMEA Power.
Renewables have moved beyond plain vanilla, with one in three new solar projects now hybrid. This ups the need for capital yet again.
The policy landscape has also evolved to become more investor-friendly. Countries are unbundling power markets and allowing private-sector participation, a move expected to attract significant investment.
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