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QIA and Enel Green Power announce large-scale renewable energy project in South Africa

• Enel Green Power RSA is the first renewable energy company to conclude a set of large-scale wind purchase agreements in South Africa for the Commercial and Industrial (C&I) market.

• This is the first greenfield project between Enel Green Power and QIA, since the two entered into a partnership to build and operate renewable energy plants in Sub-Saharan Africa, and will complement an existing platform of over 730MW installed renewable generation capacity by the JV.

Johannesburg, Doha, February 26, 2024 Enel Green Power (EGP) and Qatar Investment Authority (QIA), through their jointly controlled entity, Enel Green Power RSA (EGP RSA), have signed three long-term Power Purchase Agreements (PPAs) to supply Air Liquide Large Industries South Africa (Air Liquide) and Sasol South Africa (Sasol) with 330MW of renewable energy.

The power will be generated by three joint venture-owned wind projects located in South Africa's Eastern Cape which are due to be operational by 2026. Complementing the existing platform which generates over 730MW, the project is expected to result in annual production of more than 1,100 GWh.

The PPA, a long-term agreement between an electricity supplier and a customer, makes Enel Green Power RSA one of the first renewable energy companies to conclude a set of large-scale wind PPAs in the South African Commercial and Industrial (C&I) market.

The wind power will supply Sasol's Secunda site, where Air Liquide operates the world's largest oxygen production facility.

Advancing the availability of renewable energy across South Africa, Enel Green Power RSA is in continued discussions with other off-takers to increase their renewable energy capacity.

Enel Green Power and QIA partnership

The announcement marks the first greenfield project between Enel Green Power and QIA since the two entities signed a joint venture partnership to finance, build and operate renewable plants in Sub-Saharan Africa.

This partnership combines EGP's engineering, construction and maintenance expertise of renewable energy plants with QIA's long term investment strategy, and aligns the two companies' sustainability efforts.

QIA's commitment to a low-carbon future

The partnership aligns with QIA's commitment to support the global transition to a low-carbon future and exemplifies QIA's belief that the integration of environmental, social and governance (ESG) factors into decision making and investment process maximizes long-term financial returns, and supports us to deliver positive impact.

Notable recent investments include powering RWE's entry to the US solar energy market with a €2.4 billion investment, and investments in US-based Ascend Elements, and Korean company, SK On, two leading manufacturers of batteries for electric vehicles.