News Update - June 2025: Part 2

Côte d’Ivoire - FMO to Finance 50 MW Solar Plant as Senior Lender
FMO signed a mandate letter to serve as senior lender for the Kong Solaire Plant. More

DR Congo - Altech Launches £500,000 Bond to Expand Solar Access
The bond offers investors a fixed annual return of 8% over 36 months, with repayments and interest made every six months. More

Kenya - Clean Energy Rollout under the Off-Grid Solar Access Project
The Off-Grid Solar Access Project (KOSAP), an initiative aimed at transforming energy access, is entering a critical implementation phase in West Pokot County. More

Namibia - NamPower Begins Construction on $88.6M USD Solar Plant
Namibia has officially launched construction of its largest solar photovoltaic project to date, the 100 MW Sores Gaib Solar Power Station. More

Nigeria - Empower New Energy and Justrite Sign Additional $4.5M USD Agreement
Empower New Energy and Justrite Superstores have signed a new agreement to roll out solar and battery systems at 11 additional retail locations across southwestern Nigeria. More

Somalia - Acumen Invests $1M USD to Scale Solar Lending
Acumen’s Hardest-to-Reach (H2R) initiative has committed $1 million to KIMS Microfinance in a bid to expand access to off-grid solar energy across the country. More

South Africa - SOLA Group Restructures the Orionis Fund
The fund which finances C&I solar projects has undergone an optimisation process involving debt refinancing, equity consolidation, and structure simplification. More

South Africa - Wetility Secures $30M USD to Expand Residential Solar Rollout
South African solar energy provider Wetility has signed an approx. $30M USD (R500 million) funding agreement with investment firm Jaltech. More

Zambia - AXIAN Energy and Africa GreenCo Sign Agreement for 250 MW Solar Plants
Standard Bank South Africa is backing the project with financing support, helping to ensure the transaction’s bankability. More

Zambia - Launches $40M Solar Project to Power Schools and Hospitals
The project, developed in partnership between the Ministry of Energy, local firm Accura Logistics, and international investor Baker Global Capital Africa. More

Zambia - Globeleq Acquires Stake in Hydro Company, Including 20 MW Solar Plant
Globeleq has signed a share purchase agreement with Norfund to acquire a 51% equity stake in LHPC which is actively developing a 20 MW solar plant. More

Zambia - Ilute Solar Plant Secures $26.5M USD Financing
The funding from FMO, ElectriFI, Triodos and SEFA financing package combines commercial, development, and concessional capital. More

Zimbabwe - GPSA signed for 30 MW Solar Plant
Vungu Solar Pvt Ltd announced the signing of a Government Project Support Agreement (GPSA) with the Government of Zimbabwe. More

CLASP and GEAPP Invest USD $6.1M to Expand Productive Use Appliance Access
CLASP, which manages the facility, said the new phase will offer grants, subsidies, and technical assistance to support local manufacturers and distributors. More

DB Group and World Bank Sign Financing Agreement under ASCENT
The first financing agreements under its new Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) program has been signed. More

Octopus Energy Launches $60M USD Octopus Energy Power Africa Fund (OEPA)
The OEPA fund is being developed in partnership with Pembani Remgro Infrastructure Managers (PRIM). More

New $300M USD Blended Finance Platform Targets Off-Grid Energy Growth
A new investment platform named Zafiri is set to launch this July in Mauritius with an ambitious mission: channeling long-term equity into off-grid and DRE solutions. More