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Siemens-backed Capton

Energy aims to develop

1,000 MW of solar

SOUTH AFRICA CAPTON Energy, a new joint venture between power projects generating 200 MW in 22 coun-
Siemens Financial Services (SFS) and Saudi Ara- tries, including North Africa, East and Southern
bia-based Desert Technologies, has said it aims Africa, and Central Africa.
to acquire a 1,000-MW portfolio of 20-100-MW For example, it is involved in the develop-
solar project across Africa, the Middle East and ment of ARC’s 66-MW solar PV plant in Benben
Asia. Solar Park near Aswan in Upper Egypt, which
The JV will be based in Dubai, UAE, and was part of the second round of the Egyptian
invest in the development of solar and smart government’s feed-in tariff (FiT) programme.
infrastructure across the Middle East, Africa The plant has a 25-year power purchase
and Asia. agreement (PPA) with Egyptian Electricity and
“Solar power plays a critical part in the global Transmission Co. (EETC), the national monop-
energy transition,” SFS Equity Finance head Ste- oly electricity grid operator.
ffen Grosse said. “The launch of Capton sets the “Solar energy provides sustainable, clean
stage to help drive the expansion of more sus- and affordable energy to places without reliable
tainable and flexible energy systems across the electricity grids,” said Nour Mousa, founder of
Middle East, Africa and parts of Asia and we’re Desert Technologies.
looking forward to jointly building this platform Capton Energy plans to open its capital to
alongside Desert Technologies.” third-party investors to support its expansion
Siemens is active in Africa through its sub- plans in Africa, the Middle East and Asia.
sidiary Siemens Gamesa, which specializes in “We are eager to work with Capton and Sie-
wind power production. The German group has mens to back projects and drive positive change
also embarked on the development of the green in line with our environmental, social and gov-
hydrogen market in Egypt. ernance (ESG) ideals.
Desert Technologies is a holding company “Such efforts to fully optimise the potential
that specialises in solar PV energy and smart of the sun and technologies such as sustainable
infrastructure, focusing on sustainable manu- mini-grids and smart distributed energy sys-
facturing and investment. tems will anchor our ideals and embody positive
The company has already completed 42 solar impact.”™

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