ACWA Power out of Saudi Arabia plans to make substantial investments in Africa’s renewable and conventional energy sectors, specifically South Africa’s. The Saudi firm plans to invest $2.3 billion in the country over the next five years.
The news of ACWA’s plans was made at the opening of its solar plant in South Africa, the Bokpoort concentrated solar plan.
While South Africa is seeing a bit of a downturn on the economic end ACWA says it is committed toward the future and was committed to investments in the country.
Besides the Bokpoort, ACWA expects to commence construction on another 100 MW Redstone concentrated solar power project in Northern Cape later this year and is awaiting the outcome of tender submissions for a 300-MW coal-fired plant in Mpumalanga province in eastern South Africa.