Renewables developer Enel Green Power (EGP) will work with the Qatar-based sovereign wealth fund to develop wind and solar PV projects in sub-Saharan Africa.
A subsidiary of the Qatar Investment Authority (QIA) will acquire 50% of EGP’s stakes in renewable energy projects under construction and in operation in South Africa and Zambia.
Under their agreement, the partners will also form a new legal entity for future developments in sub-Saharan Africa.
After EGP has developed each project, the new joint venture will have the right to invest in projects, and will be responsible for financing and construction.
It is unclear how much capacity the partners aim to build and in which countries, but the initial portfolio will have a combined capacity of nearly 800MW.Â
QIA is due to acquire half of EGP’s stakes in four renewable energy projects under construction in South Africa, as well as two sites already in operation in the same country and one in Zambia.
The initial portfolio consists of an operational 34MW solar PV project in Zambia, as well as several wind farms in South Africa, including the recently grid-connected 148MW Nxuba project.
It also includes four under-construction South African wind farms expected online this year: the 140MW Oyster Bay , 145MW Garob ,Ìý147MW Soetwater ²¹²Ô»åÌý147MW Karusa projects.
EGP also owns a further 500MW-plus wind power portfolio in South Africa not included in the QIA deal.
.png)
.png)
