Enel and QIA ally to boost renewables
EGP has entered into a joint venture partnership with a subsidiary of QIA to finance, build and operate renewable projects in sub-Saharan Africa.
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Enel Green Power (EGP) has entered into a joint venture partnership with a subsidiary of Qatar Investment Authority (QIA) to finance, build and operate renewable projects in sub-Saharan Africa.
The two parties also signed an agreement for QIA to acquire 50 % of EGP’s stake in projects already in operation or under construction in South Africa and Zambia. These projects have an approximate capacity of 800 MW.
The 50 % stake acquisition is the first phase of the project, which encompasses 4 projects under construction in South Africa and 2 already operating power plants South African and Zambia.
The initial portfolio consists of one plant already in full operation in Zambia (Ngonye PV plant, of 34 MW), one recently connected plant in South Africa (Nxuba wind farm, of 148 MW), and four projects under construction (for a total of 587 MW), namely the South African wind farms of Oyster Bay (148 MW), Garob (145 MW), Karusa (147 MW) as well as Soetwater (147 MW). These plants hold long-term power purchase agreements. Oyster Bay, Karusa, Soetwater and Garob are expected to start operating during 2021.
Source: ESI Africa