News Update - December 2023: Part 2

South Africa

ACWA Power signs 442 MW solar project PPA with Eskom
Construction costs are estimated to be $800 million. The press release does not include details about the length or financial terms of the PPA. More

French multinational Saint-Gobain has inked a significant PPA with CVE
This agreement is anticipated to cover nearly 40% of the energy requirements for Saint-Gobain’s four major industrial facilities in the country. More

Shoprite Group doubles renewable energy usage
The Shoprite Group doubled renewable energy consumption, reaching 103,234 MWh compared to the previous year’s 54,138 MWh. More

TotalEnergies to build 216 MW solar unit
Along with Hydra Storage Holding and Reatile Renewables, it has launched the construction of project including a 216 megawatt (MW) solar plant. More

Engie concludes strategic acquisition of BTE Renewables
This is adding 340 MW net of renewable operating assets and a portfolio exceeding 3 GW of advanced development projects to Engie. More

Rest of Sub-Saharan Africa

Botswana - Scatech reach financial close on 60 MW Mmadinare Project
The financial close is for 60 MW of the in total 120 MW solar project. The estimated total capital expenditure for the 120 MW project is USD 104M. More 

Burkina Faso - Two solar plants of total $50M USD inaugurated
The solar plant was financed by Africa Ren and its partners, including the Dutch Development Bank. More

Nigeria - Baobab+ signs $2.25M USD credit facility investment with All On
Baobab+ will be expanding its PayGo Agent Network into new locations and leveraging its collaboration with financial institutions across the country. More

Nigeria - World Bank greenlights $750M USD to enhance renewable energy
The funding is received through an IDA credit, which will supplemented by over $1B USD in private capital from other development partners. More

Mauritania - Mauritania-Mali power link, solar project to receive $302.9M USD
The African Development Fund (ADF), the concessional window of the African Development Bank Group (AfDB), gave a greenlight for the funds. More

Mozambique - Globeleq completes acquisition of solar plant
The Mocuba Solar Plant has been acquired from Scatec ASA and KLP Norfund. EDM the national power company, remain with 25% stake. More

Rwanda - Scatec sells ASYV power plant shares worth $1.38M USD
Scatac sold Fortis Green Fund I Rwanda Holdings Ltd and Axian Energy Green Ltd a 54% equity share in the 8.5 MW solar power plant for $1.38M USD. More

Kenya - BII and Shell Foundation invest $2.6M USD in Sun Culture
SunCulture will use the investment to scale supply of solar irrigation in Kenya among Smallholder farmersto increase farmland productivity. More

Zimbabwe - Dallaglio’s Eureka Gold Mine is getting 7 MW of Solar PV
Solarcentury Africa will be overseeing the project’s EPC, financing, and operation phases, with financial closure anticipated early next year. More