ACWA Power, a leader in energy transition and first mover into green hydrogen, has signed a Cooperation Framework with the African Development Bank (AfDB) during the Africa Investment Forum held in Rabat, Morocco, to significantly strengthen collaboration in the development, investment and financing of power generation and water desalination projects across the African continent.
The Framework establishes a clear structure for cooperation in identifying, developing, and financing energy and water projects. Both parties aim to accelerate the financing of up to USD 5 billion of sustainable energy and water projects across Africa between 2025 and 2030.
The cooperation will focus on appraising and supporting renewable energy, desalination, and grid-connected power projects on the Continent, with a particular emphasis on sub-Saharan Africa. This aligns closely with Mission 300, a joint initiative of the AfDB and the World Bank Group, which aims to bring electricity to 300 million people in sub-Saharan Africa by 2030.
