ACWA Power

Africa Infrastructure

ACWA Power, a top tier global power developer, will build the 100MW Redstone Concentrated Solar Power (CSP) project in South Africa. The project was procured under the Renewable Energy Independent Power Procurement Programme (REIPPP) and will be among the first CSP projects in Africa.

Our investment

Alongside a consortium of lenders, CDC will provide senior debt to finance the construction of a 100MW Concentrated Solar Power (CSP) project in South Africa. The project will have storage capacity of 12 hours, dispatchable during peak times when energy demand (and supply cost) is highest.

Expected impact

Once complete, the project will deliver 100MW of concentrated solar power generation to displace expensive, high carbon diesel power in South Africa, reducing GHG intensity. The project will also demonstrate the commercial viability of CSP tower technology to enable a more significant long run reduction in GHG emissions.

Environmental and social aspects

CDC, together with other lenders, will work with the company to put in place effective E&S management practices in accordance with international standards.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa
Countries:
South Africa
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Infrastructure
Website:
https://www.acwapower.com/en/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Direct Debt
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
July 2019
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$49.39m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
South Africa