HomeNewsACWA Power leads South Africa's largest renewable energy project Redstone CSP to financial close

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ACWA Power leads South Africa's largest renewable energy project Redstone CSP to financial close

5/18/2021

Press release - ACWA Power   ACWA Power, a leading Saudi developer, investor and operator of power generation and water desalination plants in 13 countries and the lead shareholder in the Redstone concentrated solar power (CSP) plant, announced the commencement of construction on the 100 MW Redstone project following achievement of financial close. At ZAR 11.6 billion total investment, the Redstone project is the largest renewable energy investment in South Africa to date. The project has secured financing from leading international and South African financial institutions including African Development Bank (AfDB), ABSA Bank, Development Bank of Southern Africa (DBSA), CDC Group, Nedbank

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