ACWA Power and the African Development Bank (AfDB) signed a cooperation framework on December 15, 2025, in Rabat, aimed at enhancing the development and financing of sustainable energy and water projects across the African continent. The agreement was concluded on the sidelines of the Africa Investment Forum held in the Moroccan capital.
This framework is designed to structure collaboration between the two institutions to identify, develop, and finance electricity generation and water desalination projects, with the ambition of mobilizing up to $5 billion during the 2025–2030 period. The goal is to accelerate the energy transition and improve access to water, particularly in regions facing infrastructure deficits.
For ACWA Power, the world’s leading private producer of desalinated water and a major player in renewable energy, Africa is a strategic market. “This cooperation framework with the African Development Bank demonstrates our commitment to the continent. It will strengthen our capacity to realize transformative projects in the fields of energy and water,” said Hashim Ghabashi, ACWA Power’s Africa President, highlighting the stakes of energy and water security for millions of people.
The cooperation will primarily focus on renewable energy, desalination, and grid-connected electricity generation, with particular emphasis on sub-Saharan Africa. This initiative follows the “Mission 300” program, jointly led by the AfDB and the World Bank Group, which aims to provide electricity to 300 million people in sub-Saharan Africa by 2030.
In addition to funding, the agreement also incorporates environmental and social dimensions to promote projects aligned with sustainability and inclusive growth principles.
This signing marks a structural milestone in strengthening the commitments of both partners towards Africa’s energy and water sectors. By combining ACWA Power’s expertise in developing large projects with the AfDB’s financial capacity and regional knowledge, the partnership aims to stimulate green investments, enhance infrastructure resilience, and sustainably improve access to essential services across the continent.