By: Utilities Middle east

ACWA Power, the world’s largest private water desalination company and a leader in energy transition, has signed a Cooperation Framework with the African Development Bank (AfDB) to enhance collaboration on power generation and water desalination projects across Africa. The agreement was formalised during the Africa Investment Forum in Rabat, Morocco.

Under the Framework, both organisations will work together to identify, develop, and finance sustainable energy and water projects, with a goal of accelerating up to USD 5 billion in investments between 2025 and 2030.

Hashim Ghabashi, President Africa Region at ACWA Power, said: “This Cooperation Framework with the African Development Bank is a testament to our unwavering commitment to Africa. The Continent represents a vital market for ACWA Power, and this partnership will significantly accelerate our ability to deliver transformative power and water projects. Execution of this Framework with AfDB is a crucial step toward achieving energy and water security for millions.”

The collaboration will prioritise renewable energy, desalination, and grid-connected power projects, with a particular focus on sub-Saharan Africa. This aligns with Mission 300, a joint initiative by the AfDB and the World Bank Group aimed at bringing electricity to 300 million people in the region by 2030. In addition to financing, the Framework emphasises Environmental and Social (E&S) development to ensure sustainable project delivery.

The partnership represents a significant milestone for both organisations, combining ACWA Power’s global project development expertise with AfDB’s financing capabilities and regional insights. The collaboration is expected to accelerate energy access, strengthen water security, and drive green investment across the continent.