News Update - August 2023: Part 1

Nigeria

InfraCredit provides debt facility to Hotspot Network
The 7-year fixed-rate local currency debt issue enables Hotspot to construct, install and commission 120 solar powered rural telecom base stations. More

FCMB opens clean energy loans up to $12.500 USD for households
The loan is designed to acquire solar panels, batteries, inverters, and other green energy equipment. More

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

FSD Africa invests $12.7M into risk sharing facility for sustainable infrastructure
The risk sharing facility is in collaboration with InfraCredit which is designed to unlock funding for sustainable infrastructure development. More

South Africa

Stanlib Asset Management acquires Solareff andGridCars
51% of was acquired through its Stanlib Infrastructure Fund II. Solareff is also a 75% shareholder in GridCars and shareholder in Solareff Green. More

IFC lends $236M USD to Absa to finance green buildings
The funds will make it possible to expand its residential and commercial lending programme and mortgages environmentally friendly buildings. More

MIGA provides guarantees to BTE Renewables for up to $18.9M USD
The financial guarantee covers BTE Renewables equity investments into MBP PV (RF) Pty Ltd. MBP solar power plant. More

Official launch of the Energy Bounce Back Loan Guarantee Scheme
The scheme operates through three mechanisms and is for small businesses and households looking to invest in solar and power storage equipment. More

JSE-listed AECI installed and commissioned 1 MW solar project
The company plans to eventually install 14.3 MW capacity at selected AECI operating sites in South Africa. More

Rest of Sub-Saharan Africa

Ghana - Absa Bank takes lead in $24M USD solar plant investment
The funds will finance a 100 MW solar plant for the Bui Power Authority. The deal also marks the first-ever green loan undertaken by Absa Ghana. 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

Namibia - InnoVent builds a 9.8 MW solar farm for desalination
InnoSun Energy Holdings, a subsidiary of InnoVent, is starting work on the construction of a 9.8 MW solar farm at Trekkopje in Namibia. More

Senegal - Endeavour to build $55M USD solar plant at mine
Sabodala-Massawa mine will have 37 MW solar facility constructed with a 16 MW battery system to regulate power supply and reduce generators. More

Tanzania - d.light closes $125M USD funding through a securitization
The facility has been successfully secured from the Eastern and Southern African Trade and Development Bank Group (TDB Group). More

Zambia - Israel to power $100M USD solar-wind energy project
The 71 MW project a joint effort between Israel’s Gigawatt Global and Gigawatt Wind. More

Zambia - Germany provides $35M USD for water and renewable
As part of this programme, Lusaka expects to purchase 200 MW of renewable energy capacity, whereby 100 MW solar PV. More

Solar Financed Africa Market Intelligence Platform launching soon
The platform is offering comprehensive finance and funding data on solar projects, companies and funders in Sub-Saharan Africa. More

SolarAfrica Energy and Starsight Energy complete business merger
The merger creates a 580 MW clean company in Africa. The merged group is also planning an expansion into Tanzania and Uganda. More