Enel’s renewables arm Enel Green Power (EGP) has sealed an agreement with the Qatar Investment Authority (QIA) to develop renewable energy projects in Sub-Saharan Africa.
Under the deal, Qatar‘s wealth fund will buy half of Enel’s 800MW operational and under-construction renewable capacity in Zambia and South Africa.
Francesco Starace, Enel Chief Executive Officer and General Manager, said: “We will work together to accelerate the creation of an extensive green energy footprint in Sub-Saharan Africa, contributing to the continued pursuit of its ambitious goals in this sector by further harnessing the region’s immense renewable potential and contributing to a more sustainable economic development model in this part of the world.”
Mansoor bin Ebrahim Al-Mahmoud, Chief Executive Officer of the QIA, said: “We share a mutual vision with Enel in supporting decarbonization efforts and believe this investment represents an excellent opportunity to develop and grow a leading renewable energy platform in the region.”