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Saudi-owned ACWA Power starts in South Africa

ACWA Power, Redstone, Northern Cape Province of South Africa, Central Energy Fund

World

Saudi-owned ACWA Power starts in South Africa

ACWA Power has started construction on the Redstone concentrated solar power (CSP) plant in South Africa, the biggest renewables project on the continent.

ACWA Power’s co-shareholders in the $825 million project that will have the capacity to generate 100MW of power, include the Central Energy Fund, Pele Green Energy and the local community.

Located in the Northern Cape Province of South Africa, the Redstone plant will be equipped with a 12-hour thermal storage system that will deliver clean and reliable electricity to nearly 200,000 households round the clock, the company said. Commencement of operations is scheduled for the fourth quarter of 2023.

“Redstone CSP adds another superlative to our budding record in South Africa, being the largest renewable energy investment to date,” said CEO Paddy Padmanathan. “As grid links are improved, the ingenuity of the private sector together with the great support of experienced finance partners has the potential to spark lasting impact for local communities and address the threats of climate change.”
Redstone CSP will displace an estimated 440 metric tons of CO2 emissions per year, ACWA said.

Saudi Crown Prince allocates land for residential complex in Riyadh

Saudi Arabia’s Crown Prince Mohammed bin Salman has directed the allocation of 20 million square meters for new residential land north of Riyadh.

The ownership will be transferred to the Ministry of Municipal, Rural Affairs and Housing, and is part of a drive to improve the housing sector and hep families, Saudi Press Agency reported.

The allocation aims to increase the residential area of ​​Al-Jawan suburb from 10 million square meters to 30 million square meters, and build up to 53,000 housing units through integrated projects, facilities and services in partnership with the private sector. This is on top of the 20,000 housing units that have already been announced.

Support for the housing sector has led to Saudi home ownership increasing from 47 percent to 60 percent in the last four years.
The Kingdom hope that figure will reach 70 percent under the Vision 2030 reform programs.

“The additional lands allocated to the housing sector north of Riyadh will provide more than 53,000 various housing units that real estate developers will work on, taking into account the quality of services that meet the aspirations of citizens,” the statement said.

The move is also in line with the city’s growth with the aim of becoming one of the 10 largest economic cities in the world and an increase in population from 15 to 20 million by 2030.

Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail said the housing sector contributes more than SR115 billion ($30.6 million) to GDP and provides about 40,000 direct and indirect jobs.

Riyadh’s housing sector has witnessed rapid growth over the past two years.

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