News Update - December 2024: Part 2

South Africa

Investec and SolarAfrica reach financial close for $96M USD solar project
The total deal for SunCentral 1 is valued at $96M USD, with Investec participating as a 50% funding partner. More

Scatec awarded 288 MW Solar PV in 7th REIPPPP
Scatec will own 50.9% of the equity in the project and will provide EPC, O&M and AM services. It will be a 20-year PPA once fully operational. More

Infinity Power and Pele Energy Group awarded 1.28 GW Solar PV in 7th REIPPPP
The awarded 6 projects allocated to Infinity Power and Pele Green Energy are located in North West Province, Mpumalanga and Limpopo. More

Mulilo awarded 240 MW Solar PV in 7th REIPPPP
The awarded project allocated to Mulilo is located in Free State. Reatile Renewables & Perpetua Energy are the local partners. More

Rest of Sub-Saharan Africa

Botswana - Scatec reaches financial close and prepares for construction start
Financing will be provided by the FNB of Botswana (acting through its Rand Merchant Bank division) and the World Bank’s International Finance Corporation (IFC). More

Chad - AfDB-funded solar projects receives $28.8M USD
This financing for two 15 MW solar projects includes $20.6M USD in direct support, combining a loan and grant from SEFA, plus $8.2M USD in financial guarantees. More

Ghana - Renergy Solar commits to 40 MW solar project
The company completed grid studies, environmental assessments, and technical evaluations and is the off-take agreement including other documentation. More

Zimbabwe - PPC to accelerate two solar plants construction
The two solar power plants have a combined capacity of 30 MW. The plants will be developed under a PPA model. More

AfDB's SEFA invests $10M USD to supercharge climate tech innovation
The investment is done in the Persistent ACV Fund and aims to unlock $70M USD in funding for African climate-focused ventures. More

AfDB invests $30M USD in AFC to boost Africa’s green energy future
The funds will be directed toward the development of solar power plants, energy storage systems, and other green initiatives. More