ACWA Power targets $10bn worth of green hydrogen projects in South Africa

Saudi Arabian developer ACWA Power has signed a Memorandum of Understanding (MoU with the Industrial Development Corporation of South Africa (IDC) to develop green hydrogen and its derivatives in South Africa.

This partnership, which could yield projects worth up to $10bn, coincides with the state visit of the South African President Cyril Ramaphosa to the Kingdom of Saudi Arabia.

The agreement was digitally signed by Paddy Padmanathan, Vice Chairman and Chief Executive Officer of ACWA Power; Clive Turton, Chief Investment Officer of ACWA Power; Rian Coetzee, Head of Industry Planning and Project Development at IDC; and Russell Wallace, Manager of Legal Services at IDC, with agreement copies exchanged at a gathering attended by executive dignitaries.

It marks the first agreement of its kind between ACWA Power and the IDC, but the parties have previously collaborated for equity in a renewable energy plant in South Africa.

... to continue reading you must be subscribed

Subscribe Today

Paywall Asset Header Graphic

To gain access to this article and all our other content, you will need to subscribe to H2 View.

From the latest print editions, to 24/7 online access to exclusive interviews, authoritative columnists and the H2 View news archive, a subscription is the best way for you to stay up to date with developments in the hydrogen community.

Please wait...