ACWA Power begins construction on 100MW Redstone project after financial close – MEP MiddleEast

ACWA Power begins construction on 100MW Redstone project after financial close – MEP MiddleEast

ACWA Power, a leading Saudi developer, investor and operator of power generation and water desalination plants in 13 countries and the lead shareholder in the Redstone concentrated solar power (CSP) plant, has begun construction on the 100 MW Redstone project following achievement of financial close.

Redstone CSP will displace an estimated 440 metric tons of CO2 emissions per year. The project is certified under the Climate Bonds Standard and Certification Scheme and aligned with the goals of the Paris Climate Agreement which seeks to limit global warming to under 2 degrees Celsius.

In addition to efficiently delivering clean energy to the national grid, the Redstone project will also offer tangible socioeconomic value through offering job opportunities and utilising local supply chains.

The project will reach close to 44% local content on procurement during the construction period; create more than 2,000 construction jobs at peak, with about 400 from the local community; and create approximately 100 permanent direct jobs during the operating period.

As part of its implicit social contract, Redstone CSP will provide value-adding ancillary services required by the system operator at no cost to the local public utility Eskom, which marks a first for a renewable energy plant in the country.

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