Page 9 - AfrElec Week 01 2021
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AfrElec RENEWABLES AfrElec
Enel, Qatar Investment Authority to
develop renewables in Africa
AFRICA ENEL Green Power (EGP) has farmed in a sub- in line with the two companies’ sustainability and
sidiary of Qatar Investment Authority into its decarbonisation targets. We will work together
800-MW renewables pipeline in South Africa to accelerate the creation of an extensive green
and Zambia. energy footprint in sub-Saharan Africa.”
In this first phase, the transaction involves the The initial portfolio, for an overall installed
acquisition by QIA of 50% of EGP’s stakes in four capacity of about 800 MW, consists of one plant
projects under construction in South Africa, and already in full operation in Zambia (the 34-MW
one operational project each in South Africa and Ngonye PV plant), one recently connected plant
Zambia. The two partners aim to develop more in South Africa (the 148-MW Nxuba wind
capacity across sub-Saharan Africa. farm), and four projects under construction.
The overall transaction is subject to the These are the Oyster Bay (148 MW), Garob (145
change of control approval and antitrust clear- MW), Karusa (147 MW) and Soetwater (147
ance from relevant institutions and regulatory MW) wind farms in South Africa.
authorities. These plants hold long-term power purchase
Under the transaction, EGP and QIA will agreements (PPAs). Oyster Bay, Karusa, Soet-
form a new legal entity for future developments water and Garob are expected to start operating
in Sub-Saharan Africa. After closing, all legal during 2021.
entities may be merged into a sole joint venture Meanwhile, in South Africa, Enel Green
company. Power will retain dual ownership of more than
Under the agreement, EGP will be responsi- 500 MW including wind farms at Nojoli (88
ble for the development of each project and the MW) and Gibson Bay (111 MW), as well as solar
joint venture has the right to invest in the pro- plants at Upington (10 MW), Adams (82.5 MW),
jects following the successful completion of the Pulida (82.5 MW), Tom Burke (66 MW) and
development phase by EGP and receipt of any Paleishuewel (82.5 MW).
required regulatory approvals. At that point, the Enel Green Power is the world’s largest renew-
joint venture will be in charge of financing and able private player, with over 47 GW of wind,
building the new renewable projects. solar, geothermal and hydropower plants (HPPs)
Francesco Starace, Enel CEO and general installed in Europe, the Americas, Africa, Asia
manager, said: “Through this new partnership, and Oceania.
we will combine our Group’s sustainable strategy, QIA is looking to improve its green creden-
enhanced by our industrial expertise in business tials, and is one of six founding members of the
development, engineering & construction, as One Planet Sovereign Wealth Fund Initiative,
well as operation & maintenance of renewable which is building climate change into financial
plants, with QIA’s long-term investment strategy, decision-making.
Siemens Gamesa seals first
wind project in Ethiopia
ETHIOPIA SIEMENS Gamesa has signed its first wind According to the African Development Bank
power project in Ethiopia with state-owned util- (AfDB), Ethiopia has abundant resources, par-
ity Ethiopian Electric Power (EEP). ticularly wind with a potential 10 GW of instal-
The 100-MW Assela wind farm will be lation capacity; 324 MW is installed at present.
located between the towns of Adama and “Siemens Gamesa is intent on expanding
Assela,150 km south of Addis Ababa, and will its leadership across Africa, and in turn help a
contribute to clean and affordable power for the growing transition to green energy across the
country’s electricity grid, the company said in a continent. So, we are extremely pleased to begin
statement. work in Ethiopia and look forward to collaborat-
The country has set an ambitious target ing with both EEP and the country to continue
to meet 100% of its domestic energy demand to promote their drive to install more renewables
through renewable energy by 2030. and meet transformational energy targets,” said
Week 01 07•January•2021 www. NEWSBASE .com P9
