News Update - August 2024: Part 1

South Africa

STANLIB Infrastructure Fund II acquires Scatec stake in solar plants
STANLIG acquired additional interests in the Kalkbult, Linde, and Dreunberg solar power plants with the acquisition valued at $51.2M USD. More

Eastgate Shopping Centre unveils South Africa’s largest solar rooftop
Investing in solar power was a strategic decision taken by Liberty Two Degrees (L2D) and will consist a total of 6 MW. More

Hohm Energy in financial distress months after $8M USD raise
The company has entered business rescue and has laid off an undisclosed number of employees. More

Rest of Sub-Saharan Africa

Botswana - Botswana Power awards 100 MW solar project
A group of Chinese companies led by China Harbour Engineering Co. has won a contract to build a 100-megawatt solar plant. More

Nigeria - CrossBoundary Access and MOPO deploy MOPO Solar
The announcement is a milestone in the $10M USD project, since it launched in October 2023, and ensures that key targets will be achieved. More

Rwanda - Fortis Green and AXIAN Energy acquire Scatec’s solar assets
The companies acquired Gigawatt Global Rwanda Ltd (Gigawatt Rwanda). The transaction was completed in July. More

Togo - Solar and battery energy storage plant to increase capacity
The government of Togo has provided the country’s Energy Ministry with 57 billion FCFA (around $95 million) to propel universal energy access. More

Uganda - AMEA Power announces groundbreaking of 24 MWp Solar Project
The investment for the $19M USD project financing was secured during COP28 from Emerging Africa Infrastructure Fund (EAIF). More

Zimbabwe - Government to construct 250 MW solar plant
President Mnangagwa said the government is in the process of constructing two solar power plants with a total capacity of 250 MW. More

Camco’s Spark closes initial senior debt round with $9M USD
Symbiotics Investments and Triple Jump have become the latest investors to support Camco’s innovative financing platform. More

New French fund with $92.63M USD targets African solar development
RGREEN INVEST and investment adviser ECHOSYS INVEST announced The AFRIGREEEN Debt Impact Fund first closing. More

SIFEM commits $15M USD to first close of Helios CLEAR fund
The Swiss Investment Fund for Emerging Markets (SIFEM), managed by responsAbility Investments AG, announces its co-anchor role. More

Various companies setup $25M USD facility to support MIs and (DRE) sector
Open Capital, Shell Foundation, and the UK Foreign, Commonwealth, and Development Office (FCDO) setup this 5 year initiative. More

Zambia - Wendit Group sign agreement for 50 MW solar plant
The Zambian government has signed an Implementation Agreement for a 50MW solar plant to be constructed by Wendit Group. More