News IndustryACWA Power, AfDB sign deal to develop energy, water projects in AfricaPartnership targets $5 billion in financing by 2030, focusing on renewablesDeal supports electrification of Sub-Saharan Africa under Mission 300 planDubai-based ACWA Power, which specializes in renewable energy and water desalination, said on Tuesday it had signed a framework agreement with the African Development Bank to support the development and financing of energy and water projects across Africa. The agreement sets out a partnership to identify, develop and finance power generation and desalination projects, with the aim of unlocking up to $5 billion in financing by 2030. The projects will focus on renewable energy, desalination infrastructure and grid-connected power plants, particularly in Sub-Saharan Africa. Against this backdrop, partnerships between development lenders and private developers are seen as a key mechanism for mobilizing capital. Their impact, however, will depend on whether announced commitments translate into funded and implemented projects in a region that continues to attract the least energy investment globally.

Source: The North Africa Journal December 19, 2025 16:28 UTC