News Update - March 2023: Part 1

Nigeria

REP-NEP signs PBG grant agreement with Sholep & ACOBA total of 350 Kwh of PV Capacity installation is expected to be deployed with proposed connections of 3,572 to households and MSMEs. More

The Nigeria Solar Investment Report 2022 provides funding landscape insightsIncludes listed investors, debtors and relevant information for the top 50 project. For anyone that wants insights in the investment / funding solar landscape in Nigeria. More

The World Bank deploys 100 solar grids in NigeriaThe World Bank said that it has deployed 100 solar-powered mini-grids in Nigeria under its National Electrification Project with REA. More

South Africa

Africa Data Centres (ADC) signs a PPA with DPA DPA to procure solar energyDistributed Power Africa (DPA) and ADC signed a 20-year PPA. The renewable energy will be supplied via wheeling. More

Gauteng province announces investment of $66M USD to reduce load sheddingThe provincial government plans to appoint six developers in the coming weeks to build an 800 MW solar photovoltaic plant in the municipality of Merafong. More

Copenhagen Infrastructure Partners (CIP) buys stake in Mulilo EnergyA majority stake was acquired for an undisclosed sum. CIP carried out the transaction through its Copenhagen Infrastructure New Markets Fund I (CI NMF I). More

Nedbank finances $65M USD of private power generation in 2022Load-shedding has become a catalyst for renewable- and embedded-energy investments to support South Africa’s Just Energy Transition according to Nedbank. More

Rest of Sub-Saharan Africa

DR Congo - Investors buy $1.5M USD stake in Nuru SASUThe funding comes from REPP, Proparco and E3 Capital in a convertible note round ahead of the close of its Series B funding round. More

Gambia - New Global Gateway grant of $ 25.2M USD from the European Union The funds are to accelerate implementation of the Gambia Renewable Energy project and are to be used alongside an $8.6M USD loan. More

Ivory Coast - Signs deal for 50-70 MW solar plant with UAE's MasdarMasdar and the Ministry of Mining, Petroleum and Energy will explore the joint development of solar plants. No further details are shared yet. More

Ivory Coast / Burkina Faso - SolarX signs a partnership with Orange Côte d'IvoireThe recently signed agreement covers the installation of solar systems to power Orange’s data centres. No further details are shared yet. More

Kenya - Discover Kenya's funding landscape in the Solar Investment Report 2022 Includes listed investors, debtors and relevant information for the 50 top projects. For anyone that wants insights in the investment / funding solar landscape in Kenya. More

Kenya - Receives received $150M USD funding from World Bank for solar mini gridsKenya’s government plans to build 137 solar mini grids across remote locations. The funding comes from the International Development Association (IDA) credit. More

Malawi - Serengeti Energy is announces the energization of 21 MW solar plantThe company funded by KFW, NDF, Norfund, Proparco, Swedfund, expects commercial operations of phase 1 in the coming weeks. $40M USD is the total estimated cost. More

Malawi - Government launches $20M USD off-grid Market Development fundThe World Bank provides financial support to the fund, which will provide loans to eligible off-grid solar companies up to $14M USD as working capital. More

Malawi - RIC Energy builds $2.99M USD solar storage systemThe 1.3 MW solar plant and 4.5 MWh storage system is fully financed by the European Investment Bank (EIB). More

Mauritius - Qair inks PPAs for 60 MW of solar-storage projectsQair has sealed power off-take deals for four hybrid solar and battery storage projects in Mauritius that will add 60 MW of capacity to the local electricity grid. More

Namibia - Solar plant to be built at oldest uranium mineRössing Uranium announces plans to construct a 15 MW solar plant and calls for bids from independent power producers to act as a supplier. More

Niger - Receives OPEC Fund $25M USD loan for solar, electricity projectsThe loan is in support of the Niger Solar Plant Development and Electricity Access Improvement Project to scale up electrification and access to renewable energy. More

The £10M GBP Energy Catalyst, Innovate UK programme, catalyst opensFunding competition opens for early stages companies creating new or improved clean energy access in sub-Saharan Africa. Any country is eligible for funding. More

Inspired Evolution raises $199M USD for the energy transitionThe Evolution III fund got conditional commitments from seven international investors, AfDB, EIB, FinnFund, EMCAF, Swedfund, SIFEM and FMO. More

ISA & UNDP Launch Pilot Projects on Scaling Solar ApplicationsThe programme is set to be implemented over the next two years. ISA and UNDP have jointly secured financial support worth $2M USD for the programme. More