News Update - February 2023: Part 2

March 01, 2023

Nigeria

REA Nigeria invites companies to bid for development of solar mini-gridsThey invite eligible bidders to provide services for the development of solar hybrid mini-grids for rural economic development of 150 unserved rural communities. More

The Nigeria Solar Investment Report 2022 provides funding landscape insightsIncluding listed investors, debtors and relevant information per project. For anyone that wants insights in the investment / funding solar landscape in Nigeria. More

Rensource Energy Announces 1.4 MW of New Projects in NigeriaRensource Energy, announced the signing of an additional 1.4 MW worth of projects in Nigeria to be constructed in early 2023. More

Nigerdock completes first phase of 20 MW solar project in Lagos Port ComplexThe company has engaged the West African solar power provider Daystar Power, a subsidiary of Shell Global, for the development of its energy plan. More

Evtec Energy has signed a partnership with MICT for a $150M USD investmentUnder the agreement, Evtec will invest and build a 110 MW solar plant to power a factory of Tingo Foods, MICT's subsidiary in Nigeria. More

Mahlako Energy Fund, Mergence, Third Way Investment Partners conclude funding dealAventro has received the investment to increase its shares in the 100MW Redstone Concentrated Solar Power Project. More

Sasol and Air Liquide signed PPAs with TotalEnergies and its partner MuliloThey will create a local majority owned solar project with a capacity of 120 MW. These projects are scheduled to be operational in 2025. More

ResponsAbility provides $10M USD to supply solar to businessesResponsAbility finances Jaguar New Energies (JNE). In partnership with New Southern Energy, the company provides solar power to C&I customers. More

Start of 25% tax rebate for solar panels on residential rooftopsThe rebate, subject to a maximum of ZAR 15000, applies to new solar panels (excluding invertors, batteries) brought into use between 1 March 2023 to 29 February 2024. More

Burkina Faso - Launch of Africa Minigrids Program for Rural Electrification The UNDP-led program will run in the country till January 2027 for $1.75M USD which will be funded by UNDP, GEF, and the Government of Burkina Faso. More

Kenya - Intends to setup 136 solar mini-grids for remote communitiesThe Energy and Petroleum Cabinet Minister Davis Chirchir told this at a World Bank-sponsored 7th Mini Grid event. It is unclear where funding comes from. More

Somalia - Launch of Africa Minigrids Program for Rural ElectrificationFunded by Global Environment Facility (GEF), the Africa Minigrids Program is the energy access program led by UNDP. More

Zambia - President commissions Riverside Solar Plant 34 MW expansionThe $22M USD expansion is a project of the Copperbelt Energy Corporation. Sinohydro Corporation Limited has done engineering and construction. More

Zambia - General Du Solaire said it plans to electrify more than 5,000 householdsFrench solar firm General Du Solaire French said that nine villages across the country were expected to benefit from the project. More

Zimbabwe - DeGreen Rhino Energy's $65M USD Marondera solar project taking offThe 50MW project is expected to start development next month. DeGreen Rhino Energy, is a joint venture between Green Rhino Energy and De Opper Trading. More

Zimbabwe - Equator Energy commissions 4.4 MW system north of Bulawayo Equator Energy is part of Maris's renewables division, which has commissioned with this project its largest solar project to date. More

New French fund with $93M USD targets African solar developmentThe debt fund is for financing solar power production across Africa managed by French fund manager RGreen Invest and investment adviser Echosys Invest. More

Late stage startups and SMEs in solar in Africa can win cash grants up to $15k USDSolarX Grand Challenge enables to win cash grants up to $15k USD, get market access, acceleration support and mentor / investor connections. Deadline is 31st of March. More

AfricaGoGreen Fund (AGGF) raises $87M USD in equity and debtSEFA, AfDB and NDF are each investing $10M USD. Accompanied with $30M USD from the IFC and $10M USD from Calvert Impact Capital as debt. More

Candi solar receives $4M USD loan, partly for financing projects in AfricaThe follow-on multi-currency loan is from a climate fund managed by responsAbility Investments, and he Belgian Investment Company for Developing Countries. More