Enel joins forces with Qatar’s wealth fund to develop renewables in Sub-Saharan Africa

Under the deal, the Qatar Investment Authority will buy half of Enel’s 800MW renewable capacity in Zambia and South Africa

Enel’s renewables arm Enel Green Power (EGP) has sealed an agreement with the Qatar Investment Authority (QIA) to develop renewable energy projects in Sub-Saharan Africa.

Under the deal, Qatar‘s wealth fund will buy half of Enel’s 800MW operational and under-construction renewable capacity in Zambia and South Africa.

Francesco Starace, Enel Chief Executive Officer and General Manager, said: “We will work together to accelerate the creation of an extensive green energy footprint in Sub-Saharan Africa, contributing to the continued pursuit of its ambitious goals in this sector by further harnessing the region’s immense renewable potential and contributing to a more sustainable economic development model in this part of the world.”

Mansoor bin Ebrahim Al-Mahmoud, Chief Executive Officer of the QIA, said: “We share a mutual vision with Enel in supporting decarbonization efforts and believe this investment represents an excellent opportunity to develop and grow a leading renewable energy platform in the region.”

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