Saudi deals for Chinese companies: Power Construction Corporation of China (POWERCHINA) recently announced signing contracts with Saudi Arabia’s Afif Renewable Energy Company for Saudi Afif 1 and Saudi Afif 2 PV projects worth RMB 5.84 billion ($821 million) and RMB 5.87 billion ($825 million), respectively. Together the contracts represent a combined 2 GW solar PV capacity, along with 33/132 kV power plant booster stations, 132 kV transmission lines, among other tasks. POWERCHINA consortium comprises Sinohydro International Engineering Co., Ltd., POWERCHINA Huadong Engineering & Research Institute Co., Ltd., and POWERCHINA Group.
Another Chinese company China Energy Engineering Corporation Limited said its subsidiaries entered into 3 new EPC contracts with a project company established by ACWA Power, Public Investment Fund (PIF) and Saudi Aramco. The contracts worth RMB 19.55 billion ($2.74 billion) refer to the development of 2 GW Saudi Arabia PIF VI Khulis PV Project, and 3 GW (2 GW + 1 GW) wind energy projects. The Chinese companies’ subsidiaries under the contract include China Energy International Group, China Energy Engineering Group Guangdong Thermal Power Engineering, and China Electric Power Engineering Consulting Group Northwest Electric Power Design Institute, according to a company announcement.
Voltalia, IFC partner: French renewable energy company Voltalia has entered a strategic partnership with the International Finance Corporation (IFC), part of the World Bank Group, to accelerate the adoption of renewable energy across mining operations in Africa. The collaboration will focus on identifying and developing Power-to-Mine (PtM) projects that replace fossil fuels with hybrid solar-wind systems, battery storage, and corporate PPAs to reduce mining companies’ reliance on carbon-intensive energy sources. The initiative aims to deliver turnkey renewable power solutions, prioritizing short- to medium-term infrastructure deployment in select African nations. It supports the objectives of the World Bank and African Development Bank’s Mission 300’s goal of expanding energy access to 300 million Africans by 2030.
AXIAN Energy enters Zambian energy market: AXIAN Energy has acquired the 54.3 MW Bangweulu Solar PV power plant in Zambia’s Kafue District, marking its entry into the country’s energy sector. Developed under the World Bank’s Scaling Solar program, the project—financed by IFC and the US International Development Finance Corporation—produces about 87 GWh annually, supplying clean electricity to around 82,500 households. The transaction, completed on October 16, 2025, makes AXIAN Energy the majority shareholder with 85.6%, while Zambia’s Industrial Development Corporation retains 14.4%.
Scatec’s Release expands in West Africa: Release by Scatec has signed new lease agreements for 64 MW of solar capacity and a 10 MWh battery storage across Liberia and Sierra Leone. The projects—supported by IFC financing—aim to replace costly fossil fuel generation, enhance grid reliability, and promote economic growth. In Liberia, Release will develop a 24 MW solar-plus-storage plant for the Liberia Electricity Corporation (LEC) under a 15-year lease agreement, while in Sierra Leone it will deliver a 40 MW solar project for the national utility EGTC and the Ministry of Energy. Norway’s Scatec says these 2 projects will be the first to use its newly introduced solar panel mounting structure designed by its South African engineering team. Release is owned by Scatec (68%) and Climate Fund Managers (32%).
SWREL’s new solar wins: India-headquartered renewable energy EPC company Sterling and Wilson Renewable Energy Limited (SWREL) has secured 3 new solar projects worth INR 17.72 billion ($202 million) in India and Africa. While a 115 MW solar project will be located in South Africa worth $120 million, the remaining 2 facilities with 363 MW DC and 580 MW DC will be located in India’s Rajasthan and Uttar Pradesh. SWREL is developing 2 more projects in South Africa that it says are due for completion in Q1 FY2027.
