News Update - April 2024: Part 1

Nigeria

UEF signs grant agreements with 19 clean energy developers
SEforAll, manager of the facilitate, targets deployment of stand-alone solar solutions for productive uses across Nigeria. More

FG to provide solar subsidy through $750 million World Bank loan
The subsidy will be provided through a World Bank approved loan of $750 million under the DARES project. More

South Africa

ADC starts 12 MW solar farm in collaboration with DPA Southern Africa
The farm’s first phase will power Africa Data Centers Cape Town data centre, with further phases planned to serve its Johannesburg facilities. More

283 MW solar plant to build by Trina Solar
The plant is build in collaboration with China Energy International Group and China Gezhouba Group. The project is financed by EDF Renewables. More

Standard partners with OOBA Solar to provide financing options
The Solar Loan provides for values ranging from $150 to $15k USD. More

Germany's PNE sells 240 MW solar project
The Khauta solar project was bought by South African integrated energy company NOA Group Ltd. The price was not disclosed. More

JICA partners with SAPP to boost renewable energy
The Japan International Cooperation Agency (JICA) has officially signed a Record of Discussions with the Southern African Power Pool (SAPP). More

Rest of Sub-Saharan Africa

Angola - Unveils 26 MW Saurimo solar park
The Saurimo solar farm is part of a larger initiative that includes seven parks totaling 370 MWp, spread across various provinces in Angola. More

Benin - ENGIE Energy Access inaugurated mini-grid
ENGIE Energy Access has secured a 20-year license agreement with Agency for Rural Electrification and Energy Management (ABERME). More

Gambia - Commissions $165M USD solar project
The World Bank, European Investment Bank, and the European Union providing $141M to the 23 MW solar project . More

Ivory Coast - TotalEnergies to connect mine with 6 MW solar power
It is a partnership with Roxgold Sango, a subsidiary of the Canadian company Fortuna Silver Mines, and TotalEnergies. More

Ivory Coast - $40.1M USD solar plant inaugurated
KfW Development Bank financed the project including a loan of $29.2M USD a grant of $10.8M. More

Uganda - BGFA signs $3.2M USD in new agreements for mini-grids
The agreements are signed with Koolboks Ltd and Equatorial Power Ltd with expected $6.9M USD in additional co-financing over 4 years. More

Zimbabwe - Zimasco intend to establish 100 MW solar farm
The project would generate electricity for use at Zimasco’s smelting operations, with excess power being fed into the national grid. More

Adenia closes fifth flagship fund oversubscribed at $470M USD
One of the investment in this new fund Enfin, a solar financing solutions provider serving commercial and industrial clients. More

French bank Société Générale announces "Solar Pack" offer extension
Launched in France almost a year ago, the French bank Société Générale has decided to extend its “Pack Solaire” to Africa. More

GuarantCo facilitates $27M guarantee for IPPs in Southern Africa
The guarantee was finalized with Africa GreenCo. There is anticipated to catalyze up to $270 million in private sector investment. More

InfraCo Africa makes $12M equity investment in SunCulture
The investment is part of an oversubscribed $27.5-million Series B fundraise to to deliver access to IoT solar powered irrigation systems. More

Local capital is key for infrastructure, says Africa50
There is a quite a significant pool of capital within Africa that could go to funding infrastructure projects. More

Toyota Tsusho founds new African renewables JV
The JV is split in 50-50 ownership between African infrastructure and mobility company CFAO and renewables project owner Eurus Energy Holdings. More