What's Hot

    MSG Group invests USD 60 million to build cement plant in Somaliland

    July 1, 2022

    Abu Dhabi Exports Office signs financing deal to enhance trade with ECOWAS states

    June 30, 2022

    Bahrain hosts Egyptian delegation as trade soars

    June 29, 2022
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      MSG Group invests USD 60 million to build cement plant in Somaliland

      July 1, 2022

      ACWA Power consortium signs agreement for 1.1 GW wind project in Egypt

      June 23, 2022

      Gulf sovereign funds sign deal to spur investment in Africa

      June 22, 2022
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Abu Dhabi Exports Office signs financing deal to enhance trade with ECOWAS states

      June 30, 2022

      Bahrain hosts Egyptian delegation as trade soars

      June 29, 2022

      Dubai Chambers registers over 1,600 African companies since October 2021

      June 28, 2022
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      Abu Dhabi Exports Office signs financing deal to enhance trade with ECOWAS states

      Business & Trade Finance June 30, 2022
      Recent

      Abu Dhabi Exports Office signs financing deal to enhance trade with ECOWAS states

      June 30, 2022

      ITFC begins disbursing additional USD 3 billion in credit to Egypt, willing to provide more

      June 17, 2022

      MENA startups raise USD 176 million in May

      June 14, 2022
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business

    Saudi-led consortium wins $1.2bn South African solar project

    January 19, 20153 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Saudi ACWA Power and US Solar Reserve make winning bid for 100MW ‘Redstone’ concentrated solar project in the Northern Cape Province

    A consortium led by ACWA Power of Saudi Arabia and Solar Reserve of the US has been awarded the right to develop the $1.2bn Redstone Project, a 100MW concentrated solar power project using central tower technology at the Northern Cape Province, South Africa.

    The project makes up part of South Africa’s Renewable Energy Independent Power Producer (REIPP) procurement programme, which is targeting a total generation of 3,725MW from renewable sources — broadly in line with South Africa’s renewable energy goal for 2030. All aspects of the project, from construction and operations, ensure the maximum value retention for the local economy of the Northern Cape.

    “The Redstone Project is another successful bid where we delivered the lowest tariff to date in the REIPPP programme for electricity generated wholly with solar power, but reliably deployable both day and night,” said Paddy Padmanathan, CEO and president of ACWA.

    He noted the project will demonstrate ACWA’s reliable delivery at the lowest possible cost.

    The project will generate electricity day and night to power approximately 210,000 homes, ensuring stable supply by storing the heat of the sun in a molten salt solution in its central concentrated solar tower for use on-demand to operate a steam turbine and generator. Related article Trade reaches $2.5 billion agricultural investments being explored

    Trade exchange on the rise, agricultural investments coming

    “We have also structured all aspects of the project, from development to construction and operations, to ensure the maximum value retention, both for the country’s economy, and also for the local economy of the Northern Cape,” added Padmanathan.

    Around 800 jobs will be created during the peak construction phase of the project, which will also maintain 70 jobs during operations. The project will have a significant impact on the entire local community, with the construction expected to require $242m in local content.

    Over the course of its 20-year operational life, the project is also committed to contributing $43m on socio-economic and enterprise development initiatives, while the generation of the 100MW output by solar means will offset approximately 500,000 tons of carbon dioxide.

    Saudi-Canadian solar JV signs $5bn photovoltaic project in Nigeria | Kenya launches the largest geothermal power plant in the world | Dubai firm targets $500m African energy project portfolio

    All aspects of the project, from construction and operations, ensure the maximum value retention for the local economy of the Northern Cape.

    ACWA Power of Saudi Arabia electricity Northern Cape Province Redstone Project Renewable Energy Independent Power Producer Solar Reserve South Africa
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleUAE Exchange partners with MTN Rwanda on money transfers
    Next Article Kuwait’s Agility breaks ground on Ghana logistics hub

    Related Posts

    Business Industry Infrastructure

    MSG Group invests USD 60 million to build cement plant in Somaliland

    July 1, 2022
    Business & Trade Finance

    Abu Dhabi Exports Office signs financing deal to enhance trade with ECOWAS states

    June 30, 2022
    Business & Trade

    Bahrain hosts Egyptian delegation as trade soars

    June 29, 2022
    Add A Comment

    Comments are closed.

    LATEST STORIES

    MSG Group invests USD 60 million to build cement plant in Somaliland

    July 1, 2022

    Abu Dhabi Exports Office signs financing deal to enhance trade with ECOWAS states

    June 30, 2022

    Bahrain hosts Egyptian delegation as trade soars

    June 29, 2022

    Dubai Chambers registers over 1,600 African companies since October 2021

    June 28, 2022

    GrubTech: Transforming restaurants and cloud kitchens

    June 27, 2022
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.