ACWA, a Saudi power and desalination company, recently said that it has started to build a 100 MW centralized solar energy project (ground photovoltaic power station) of Redstone Company in South Africa. ACWA is a major shareholder of Redstone Company, and it expects the project to start commercial operation in the fourth quarter of 2023.
Through successful international fundraising, this centralized photovoltaic project of Hongshi has received about 7 billion rand (translation: about 3.199 billion RMB) of foreign direct investment to support South Africa’s plan to achieve its national strategic goals.
Padmanatan, President and CEO of ACWA, pointed out: “The Hongshi centralized solar power station project has added a new record for our development in South Africa, which is by far the largest renewable energy investment project. With the improvement of power grid connection, the wisdom of private companies and the strong support of experienced financial partners will have a lasting positive impact on local communities and improve their ability to cope with the threat of climate change. “
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