News Update - January 2024: Part 2

South Africa

Saint-Gobain to green its factories with solar energy
The agreement is signed with CVE. The 20-year contract will cover 40% of the electricity needs of Saint-Gobain’s facilities. More

Globeleq completes $37M USD debt restructuring for solar plants
Globeleq has completed the senior debt restructuring for Aries and Konkoonsies. The debt restructuring was led by Standard Bank. More

Aggreko acquires RenEnergy’s South African business
RenEnergy was advised on the transaction by FRP Corporate Finance and Mills & Reeve, while Aggreko received guidance from Deloitte and DLA Piper. More

Standard Bank sees rapid growth in solar finance offering
The bank seen a 400% growth in demand for LookSee’s, the bank’s purpose-built solar loan, solar installations offering last year. More

Rest of Sub-Saharan Africa

Cote d’Ivoire - PFO Energies will deliver $60M USD solar project
The 25-year agreement covers the design, financing, construction, operation and transfer of the 52 MW solar plant. More

Gabon - BII provides $2.6 million for solarization of Owendo Mineral Port
The 1.56 MW solar panel system and a 1 MW battery electricity storage system will soon be installed. More

Ghana - Daystar Power commissions 4.3 MW solar system
The large distributed solar power project is build for the Kumasi factory of Rider Steel, Ghana’s largest steel producer. More

Ghana - Dutch & Co and Golden Exotics collaborate for solar initiative
Dutch & Co recently signed an EPC agreement to install a Grid-Tie Rooftop Solar PV system at Golden Exotics’ FTC warehouse. More

Mali - The AfDB provides $302.9M Loan to Mauritania and Mali
The loan to integrate solar farms comprises $269.6 million for Mauritania and $33.3 million for Mali. More

Mali - CEI Africa signs a RBF grant for a total of up to $1.95M USD
The results-based financing grant is to GreenTec for the densification of 18 mini grids and the construction of 7 mini grids in rural Mali. More

Namibia - SPS does $10.7M USD investment in solar power project
The solar power project is build for B2Gold’s Otjikoto Mine. This will be the first wheeling project implemented under NamPower’s MSB framework. More

Nigeria - KEDCO set to commission 100 mini-grids worth $200M USD
The company’s new core investors roll out the plan to build up to 200 MW capacity through 100 mini-grids and embedded generation. More

Uganda - ATIDI backs 20 MW solar project with payment guarantee
Guarantee is given behalf of the Ugandan national power utility, Uganda Electricity Transmission Company Limited (UETCL). More

Senegal - $735M USD solar-powered Dakar BRT goes into service
The BRT had participation of the World Bank, the European Investment Bank (EIB) and the Green Climate Fund (GCF). More

General Atlantic acquire Actis, specializing in Africa energy infrastructure
The last 20 years Actis has directed more than $2B USD towards energy infrastructure in Africa. More

Mozambique - AMEA Power finds local partner for 125 MW PV project
The company will work with Mozambique's Hidropower to develop the 125 MW Matambo solar power plant in a project worth up to $150M USD. More

Sun King secures $7M USD debt from Lendable
The debt is a unsecured loan of USD 7 million from Lendable. The funds raised will specifically support the acquisition of solar home system inventory. More