ACWA Power and the African Bank of Development (ADB) are strengthening their cooperation in Africa. On the sidelines of the Forum of investment in Africa held in Rabat, the two partners signed a collaborative framework to accelerate development, investment and the financing of sustainable projects in the key sectors of energy and water on the continent.

This agreement establishes the basis for cooperation. structured to identify, develop and finance production projects electricity and water desalination. The stated ambition is to mobilize up to 5 billion dollars over the period 2025-2030, in order to support the energy transition, to improve access to electricity and to strengthen the water security, especially in countries facing deficits persistent structures.

Africa, a strategic market for ACWA Power

The world's largest private water producer desalinated water and a reference player in renewable energies and hydrogen green, ACWA Power sees Africa as a priority axis of its strategy for growth. For Hashim Ghabashi, president of the group's Africa, this partnership with ADB illustrates the company's long-term commitment to continent and should make it possible to accelerate the implementation of projects in strong impact, for the benefit of millions of people.

Cooperation will primarily target renewable energy, water desalination and production projects electricity connected to national and regional networks. An attention particular will be granted to sub-Saharan Africa, in coherence with the” Mission 300", a joint initiative of the ADB and the Bank Group global aim to provide access to electricity to 300 million people by 2030.

In addition to funding, the agreement includes environmental, social and governance requirements. The projects supported must therefore meet international sustainability standards, while ensuring a positive and measurable social impact

Relying on industrial expertise of ACWA Power and the financial and institutional capacity of the ADB, this partnership intends to contribute concretely to the transformation of the sectors of energy and water in Africa, two essential pillars of development economic and social aspects of the continent.