News Update - April 2023: Part 1

April 17, 2023

Nigeria

LandWey signs $100M USD solar plant energy deal for Isimi LagosThe Isimi Lagos Solar Farm will be a 50 MW solar PV plant, developed by Virtuitis Solaris with the potential to scale to 100 MW located in the heart of Lagos. More

How green bonds have impacted Nigeria’s renewable energy sectorThe total green bond issuances from 2017 till date is about $130M USD issued. Over 60% of these issuances have gone directly to fund renewable energy projects. More

The Nigeria Solar Investment Report 2022 provides funding landscape insightsIncludes 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

Westbrooke launches new Renewable Energy Alternatives investment strategy The strategy is to invest in and partner with small and medium-scale embedded generation solar projects and allow investors to participate in the returns. More

Decentral raises $12M USD to provide solar to businessesThe investment comes from Lions Head Global Partners, Flyt Property Investment, Anuva Investments and USAID (Power Africa initiative). More

2500 MW of private electricity generation projects registered In South Africa in Q1The move to remove licensing requirements has been a major catalyst for private sector investment into the electricity sector. More

Spain is investing $2.3B USD In South African energy transitionFunding is coming from a mixture financial instruments, with the Spanish government working with COFIDES and South Africa’s Industrial Development Corp. More

Angola - Luena Solar Park is for 60% completedThe 27 MW project is constructed by the Sun Africa, MCA Angola and Portugal. Valued at $39M USD, expected to be completed within a 2 years time frame. More

Eritrea - AfDB Board approves $50M USD grant to build a 30 MW solar power plantThe grant compromises of $19.5M from the African Development Fund (ADF-15) and $30.42M from the Transition Support Facility (TSF). More

Congo - Nuru is close to concluding a $60M funding round$28M USD is being raised in the form of debt and the rest in equity. $90M USD Series B round is expected to get under way later this year. More

Ghana - Bui Power Authority starts 5 MW floating solar dam constructionThe Ghana Government funded floating solar dam started construction and will provide power onto the national grid to enhance power supply nationwide. More

Kenya - 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

Senegal - Germany’s Gauff connects 60 solar mini-grids in the Kolda regionThe $133M USD is financed with the support of KfW Ipex-Bank, a subsidiary of KfW, the German development agency. More

BII injects $22.2M USD into Meridiam’s urban climate resilience fundThe funding goes to the Urban Resilience Fund (Turf) managed by the French investment company Meridiam and focused on sustainable infrastructure. More

Equator secures $40M USD for fund targeting climate tech startups in AfricaThe fund is closed in commitments and BII, the Global Energy Alliance for People and Planet (GEAPP), the Shell Foundation and impact investor DOEN Participaties. More

Shell Foundation and BII sign MOU $245M USD to increase access to financeThe partnership makes financing available by 2026 to private sector projects that support investment into sustainable and clean energy solutions in Africa and South Asia. More

UNDP's Climate Financial Innovation Challenge announcedWinners NITHIO, Mirova Sunfunder, 4R Digital, PJ&Company, Incharge Energy, Solaris Offgrid and Hypoport Africa are rewarded $40,000 USD and support. More