Chariot and ACWA Power Partner to Explore Clean Energy Opportunities
Chariot Energy Group and ACWA Power announce a strategic partnership to evaluate the creation of a sustainable energy platform in Southern Africa. The collaboration will focus on developing and operating assets across renewable energy, battery storage and gas-to-power solutions, initially in South Africa, Botswana, Namibia, Mozambique, Zambia and Tanzania.
A new dynamic in the continent’s energy transition. British-listed Chariot Energy Group and Saudi giant ACWA Power have signed a Memorandum of Understanding (MoU) to jointly assess the development of sustainable energy projects in Southern Africa. The agreement, announced on 30 October 2025, marks a strategic milestone for Chariot, traditionally focused on gas in Morocco.
An exploratory alliance with strong potential
The MoU covers six countries: South Africa, Botswana, Namibia, Mozambique, Zambia and Tanzania. The two companies aim to combine their expertise to design integrated solutions combining renewables, battery-storage and gas-to-power. Projects will target both national grids and off-grid industrial clients, particularly in mining and manufacturing.
The agreement remains exploratory: no binding contract yet — the first phase will evaluate technical, economic and regulatory feasibility before establishing a joint structure.
Dimension | Key Details |
|---|---|
Partners | Chariot Energy Group (UK) & ACWA Power (Saudi Arabia) |
Type of Agreement | Exploratory Memorandum of Understanding (MoU) |
Objective | Develop a sustainable energy platform in Southern Africa |
Target Countries | South Africa, Namibia, Botswana, Zambia, Mozambique, Tanzania |
Focus Technologies | Solar, wind, gas-to-power, and battery energy storage systems (BESS) |
End Users | National utilities and industrial clients |
Next Steps | Feasibility studies, regulatory review, and financial structuring |
Legal Status | Non-binding — exploratory framework pending definitive agreements |
A strategic region for energy transition
Southern Africa is seen as one of the most promising regions for renewables on the continent. According to a recent study by the Global Development Policy Center (Boston University), the region is expected to add around 52.8 GW of generation capacity by 2040 to achieve universal access—more than half of which is expected from renewables. (Your original text mentioned this figure.) The growing electricity demand, combined with unstable existing networks, opens wide opportunities for hybrid, financially sustainable solutions.
Strategic synergy between two complementary players
For ACWA Power—already active in multiple African markets—this deal supports its expansion into high-potential emerging markets. For Chariot, it marks an accelerated shift toward a multi-energy model: after its upstream gas footprint in Morocco (notably the Anchois-3 well in the Lixus licence), this agreement aligns with its ambition of developing a power-generation and renewable business.
The partnership leverages ACWA’s financial & engineering capabilities and Chariot’s local presence and project-development experience.
“Our ambition is to combine technical expertise and investment capacity to establish a large-scale clean energy platform in Southern Africa.”
— Chariot Energy Representative
“ACWA Power is committed to supporting African nations with affordable, sustainable, and reliable energy solutions.”
— ACWA Power Spokesperson
Akili Energy Insight: projects with high leverage for regional transition
From Akili Energy’s viewpoint, this MoU illustrates the rising importance of hybrid platforms (gas + renewables) as enablers of Africa’s energy transition. We see a market evolution here: from isolated projects to regional energy ecosystems capable of pooling risk, optimising financing and integrating local value chains.
If feasibility studies confirm viability, future projects could redefine the region’s energy balance—especially in Namibia and Mozambique, two emerging hubs for gas and green hydrogen.
