News Update - July 2023: Part 2

South Africa

Westbrooke REAL fund closes $16.75M USD
Numerous private investors invested, Westbrooke will invest the capital alongside South African solar businesses. More

CVE and Sun Exchange join forces for $1.1M USD HTS Drostdy project
CVE South Africa purchased all the solar cells required for technical school HTS Drostdy on the Sun Exchange platform. More

ISA announces twenty winners of SolarX startup challenge
Along with a cash grant of $15,000 USD each, the winning startups will receive support from ISA, Invest India, WAIPA, GOGLA and other partners. More

IFC collaborates with the Banking Association South Africa
Goal of the collaboration is to facilitate a minimum of $500M USD in climate investments by South African banks and at least $300M USD in climate-themed bonds issued by South African corporations by the year 2027. More

Impala Platinum plans 100 MW solar energy plant
The company invited EPC firms to participate in a request-for-information process for the construction and operation of the solar plant. More

Mulilo and Air Products join forces in solar farm ownership
Under the terms of the agreement, Air Products will procure up to 75 MW of renewable energy from a state-of-the-art solar farm. More

Kenya

GCPF and FMO invest $20M USD in Starsight Premier Energy
The two investments will support commercial and industrial solar projects in East Africa and thus reduce CO2 emissions. More

Discover Kenya's funding landscape in the Solar Investment Report 2022
Includes listed investors, debtors and relevant information for the 50 top projects. For anyone that wants insights in the investment / funding solar landscape in Kenya. More

Odyssey and I&M Bank join forces to drive renewable energy investments
In 2019, I&M Bank set aside $42.4M USD for green financing, of which over 40% has already been deployed for renewable energy projects. More

Rest of Sub-Saharan Africa

Congo - East African Power to build 266 MW of solar under PPAs
USAID through Sustainable Capital Africa Facility. has provided a repayable grant to co-finance pre–Financial Close development costs. More

Mozambique - Scatec sells solar plant to Globeleq for $8.5M USD
Scatec sold Globeleq its 52.5% equity share in the 40 MW Mocuba solar power plant. More

Nigeria - The Nigeria Solar Investment Report 2022 provides funding landscape insights
Includes listed investors, debtors and relevant information for the top 50 project. For anyone that wants insights in the investment / funding solar landscape in Nigeria. More

Niger - Akuo and Sagecom built $33.3M USD solar plant
A French consortium has finished building the 30 MW solar power plant in Gorou Banda, Niger. The electricity will be supplied to the national grid. More

Senegal - $35.1M USD funding for solar energy storage in Bokhol
Private Infrastructure Development Group and the Dutch Development Finance Corporation (FMO) are providing $35.1M USD to Africa Ren. More

TotalEnergies buys out shareholders in Total Eren
Bpifrance, Tikehau Capital, Peugeot Invest and NextWorld exit and the transaction gives the company a value of $4.2Bn USD. More