Skip to content Skip to Search
Skip navigation

Acwa Power backs $800m energy project in South Africa

Kuwait solar power reneweable energy plans Pexels/Hoan Ngọc
The solar panel imports will be subject to an anti-dumping fee of $25 per sq m

Acwa Power, Saudi Arabia’s operator of power generation and desalinated water production plants, has signed a purchase agreement for a 150 megawatt (MW) renewable energy project in South Africa.

The $800 million Project Dao, one of the largest hybrid investments in the South African renewable energy sector, is currently under construction, Acwa Power said in a statement.

The plant, located in the Northern Cape province of South Africa, will be equipped with the largest solar photovoltaic (PV) installation in the country, of 442 MW, with about 1,200 MWh of battery storage. 

Operations are scheduled to start by Q2 2026. 

Project Dao will include transmission substation capacity upgrades and a new distribution station, facilitating access to the grid for other renewable projects in the area and helping alleviate the Northern Cape’s grid congestion.

The project’s investor consortium includes Acwa Power as the lead developer, along with Thebe Investment Corporation and Aventro Investments, two South African investment companies.

The project will reach around 50 percent local content in procurement during the construction period and create more than 1,000 construction jobs at its peak, with about 25 percent from the local community. 

Latest articles

Turkey foreign property sales

Foreigners turning back on Turkish real estate

Foreign buyers are increasingly shunning the Turkish property market, wary of high prices, the expensive cost of living and a less welcoming environment for overseas real estate investors. There were only 2,064 residential units sold to foreign buyers in May, 35 percent down on the same month last year, data issued by the state statistics […]

Adult, Male, Man

UAE to invest in Turkey’s economic sectors says minister

The UAE is willing to invest across numerous sectors in Turkey, said Emirati energy and infrastructure minister Suhail Al Mazrouei. The Gulf state is exploring opportunities in the energy, agriculture, transportation, tourism and other sectors, state-run Anadolu Agency (AA) news agency reported, citing the minister on the sidelines of the St. Petersburg International Economic Forum. […]

Opec Secretary General Haitham Al Ghais says peak oil 'is not on the horizon'

Upstream oil and gas ‘needs more annual investment’

Annual capital expenditure for exploration and production in the upstream sector of the oil industry needs to increase by 22 percent by 2030 because of growing demand and cost inflation, experts say. A cumulative $4.3 trillion needs to be invested between 2025 and 2030, according to a report by the International Energy Forum (IEF) and […]

Rothschild Saudi

Edmond de Rothschild to run funding vehicle for Saudi projects

The Edmond de Rothschild Group is establishing a funding vehicle for infrastructure projects in Saudi Arabia along with the local firm SNB Capital, as part of a deal in which the Swiss investment bank will set up offices in the country.  Saudi Arabia’s massive economic diversification programme has run into financial obstacles as it faces […]