News Update - January 2023: Part 1

January 16, 2023

Nigeria

Husk Power secures funding of $749,000 from German DEGThe funds are a 5 year loan, allocated from the Up-Scaling Program, which is co-ﬁnanced by the Federal Ministry for Economic Cooperation and Development. More

Top 50 projects in 2022 total 58 MW and approx. $ 250M USD in financing (Paid)Solar Financed Africa's, 2022 Nigeria Investment Report, indicates that the largest projects are universities and the Nigerian Breweries Plc. More

Facility for Energy Inclusion (FEI) has provided EUR 7.5m of debt to SolarXThis transaction structured by FEI provides SolarX with the necessary funding and flexibility to expand its portfolio in West Africa. More

Solar Financed Africa releases top 50 database solar projects 2022 in Kenya (Paid)Including listed investors, debtors and relevant information per project. For anyone that wants insights in the investment / funding solar landscape in Kenya. More

Sunette Smith, vice-chair of SAPVIA explains about the importance of energy policyA successful energy transition in SA is dependent on regulations that lessen the barriers to entry – especially for the private sector – and reduce regulatory uncertainty. More

Zimbabwe - Government guarantees 1 GW of IPP solar projects worth $1 billionThe Zimbabwean government has agreed to guarantee viable power tariffs to 27 solar projects by independent power producers (IPPs), set to build 997.9 MW. More

Zimbabwe - 100 MW Gwanda Solar contract with Intratrek Zimbabwe bindingIntratrek Zimbabwe was awarded as the lowest compliant bidder to specification out of six bidders at a cost of US$173 million, but stalled by ZPC. More

Mozambique - Ncondezi Energy signs land agreement for 300MW solar projectThe agreement was finalised with the country’s government, allowing for exclusive use of the land for solar PV operations. More

Niger - OFID financing to allow the construction of 10 MW solar plantOFID’s funding is in addition to a $138 million loan from the AfDB for the Niger Solar Power Plant Development and Electricity Access Improvement Project. More

Catalyst Fund to invest $2 million investment into 10 climate startups in AfricaEach of the 10 startups will be offered $100K of equity investments as well as $100K of hands-on venture-building support. More

Hitachi Energy to develop solar projects with Sun AfricaThe partners are currently completing their first project together: a 370MW solar photovoltaic power plant across seven sites in Angola. More