News Update - April 2023: Part 2

Nigeria

Empower New Energy signs $6.5M USD worth solar energy dealThe company collaborates with Powercell Limited to replace diesel generators with solar in Justrite Limited Group stores. 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

South Africa

Cape Town launches $65.5M USD solar projects through C40 Cities Finance FacilityThe initiative is funded by the German Federal Ministry for Economic Cooperation and Development, Government of the UK and the Agence Française de Development (AFD). More

The annual SA Investment Conference sees $6.5B USD in energy sector pledgesThe companies include ArcelorMittal South Africa, HIVE Hydrogen, Mahlako A Phahla Investments (Pty), Rheinmetall Denel Munition, Seriti Green, The SOLA Group etc. More 

AMEA Power expands its presence in South Africa with 85 MW PPA with GreenCoThe construction of the project is set to be financed by Standard Bank of South Africa (Standard Bank). More

Electricity Minister Kgosientsho Ramokgopa proposed a mega bid windowRamokgopa recommended buying a minimum of 15.000 MW of energy, in addition to other measures that go beyond a 7th round of auctions for renewable-power planned. More

Rest of Sub-Saharan Africa

Botswana - PASH Global and Tswana Renewables announce joint ventureThe JV has an established project pipeline of 30 MW solar for private customers in Botswana. More

Cameroon - Afreximbank lends $58.3M USD to finance rural electrification projectThe African Export-Import Bank (Afreximbank) is providing financing to the government of Cameroon for the construction of 87 solar micro power plants. More

DR Congo - Altech Group raises a total of $18M USD in growth capitalThe financing exist out of debt and grants. The debt financing was provided mainly through separate facilities by EEGF, Triple Jump and Rabobank. More

Ghana - Empower New Energy, Corks Energy inaugurate 600 KWp solar installationThe C&I project was developed in partnership with Corks Energy as project lead developer and Stella Futura as the EPC and was installed for Ghana Nuts Company. More

Kenya - Discover Kenya's funding landscape in the Solar Investment Report 2022Includes 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

Kenya - Ignite Power announces the acquisition of Mwezi's solar solutions portfolioThe acquisition allows Ignite Power to expand its presence further in the country and follows after Ignite Power's recent acquisition of Pawame Kenya. More

Malawi - Voltalia and IFC sign mandate to arrange financing for Dwangwa power plantUnder the mandate that was signed, IFC will carry out a due diligence and explore the possibility of funding the 55 MW project. More

Mauritius - Mauritius issues tender for 10 MW of PV with June 9 deadlineLandscope Mauritius, a government-owned property developer, has issued a tender for the installation of 10 MW capacity. More

Uganda - Shakti Pumps received $35.3M USD order from the governmentThe contract order is from the Ministry of Water and Environment, Government of Uganda, for solar powered pumping systems. More

Zambia - Vitalite Zambia secures $1.5M USD from EDFI ElectriFI to support its growthEDFI ElectriFI, the EU-funded electrification financing Initiative, is committed to invest a $1.5M USD convertible note in Vitalite Zambia, a PayGO solar company. More

Zimbabwe - Old Mutual injects $21.5M USD in solar project CentragridCentragrid Private Limited and the National Social Security Authority want to expand the plant’s capacity from the current 2.5 MW to 25 MW. More

InfraCo Africa announces $1.5M USD investment in AfrescoAfresco brings `Energy-as-a-Service’ C&I solutions to clients in Uganda, Malawi and the Democratic Republic of the Congo (DRC). More

NDF approves a grant to boost green bonds in AfricaNDF to support the design phase of the Green and Resilience Debt Platform with a booster grant of EUR 500.000 to address climate financing gaps in Africa. More

UNDP-supported project combines solar and agriculture in 9 countriesAt a total cost of $2M USD and over a two-year period, the initiative aims to integrate solar energy into agricultural practices in 9 African countries. More

AfDB partners with ILX to mobilize institutional funding for sustainable projects in AfricaThe ILX Fund I offers a scalable $1B USD private credit investment approach that can be implemented across emerging and developing nations. More