News Update - March 2024: Part 1

Equatorial Guinea - Aptech implements solar systems in 11 areas
The implemented solar systems are poised to benefit the residents of the 11 villages, fostering improved education facilities. More

Eritrea - China Energy Group wins contract for 30 MW solar plant
The contract, valued at ERN 31,370,277.26 and $31M USD, has been awarded to China Energy Engineering Group Shanxi Electric Power Construction. More

Ghana - Dutch & Co. surges forward on Africa’s largest rooftop project
Situated atop the IWC Mega-warehouse in the Tema Freezone, the project covers an impressive rooftop area of 92,000m2. More

Kenya - World Bank launches energy access program
This ambitious program targets to provide clean and reliable energy to 20% of the unelectrified population and over 200,000 MSMEs. More

Mauritius - GreenYellow inaugurates its Arsenal $8M USD solar power plant
Commercial Bank of Mauritius (MCB) financed the 14 MW solar power plant. More

Nigeria - Climate Fund Managers and Microsoft invest USD $18M USD
The investment was made in the company Konexa to launch Nigeria’s first private renewable energy trading platform. More

South Africa - UK Government commits up to $3.1M USD in finance
The funding goes to four new technical assistance projects in the energy, finance and green hydrogen sectors. More

South Africa - Pele Green Energy looking beyond $133M USD funding
The company intents on continuing its evolution from its initial position of junior partner to that of either co-sponsor or majority owner. More

Togo - Sunna successfully installs 30,000 solar street lights
The work was carried out as part of the PEP’s rural project (Solar Public Lighting Programme) implemented by the AT2ER. More

Zambia - TDB Group extends $2M USD to MPower Ventures Zambia
The 3-year $2M USD term loan improves access to modern and affordable energy solutions for household and productive use. More

Zimbabwe - The government of Zimbabwe approves a $45M USD fund
The investment includes $10M USD from the United Nations Sustainable Development Goals (SDG) Fund, alongside the government. More

Norfund announces the sale of assets in 2 solar plants
In Mozambique the company is sells its stake to Globeleq. In Rwanda the company is selling its stake to Fortis Green Fund I, Rwanda Holdings and Axian Energy. More

How African companies are solving solar finance problem
A new generation of African solar power entrepreneurs is finding ways to work around the market barriers, including high capital costs, gun-shy banks. More

Madagascar, Somalia, Ghana: GCF pledges $309M USD in climate investments
One of the sectors targeted by the $100M USD investment programme in Somalia is solar energy. More