News Update - March 2025: Part 1

South Africa

CrossBoundary Energy Secures $45M USD from EAAIF to Expand C&I
This investment is part of a broader $300M senior debt facility, led and arranged by The Standard Bank of South Africa, which recently underwrote $141.5M. More

Yellow Door Energy and POWERX Sign 24.5 MW Solar PPA
The construction of the Naledi Ya YDE Solar Park is scheduled to begin by mid-2025, with commissioning anticipated in 2026. More

Pele Energy Group Secures $30M USD Investment to Expand Renewable Energy
The investment from Nedbank and NCIF managed by Norfund, is structured through Pele Energy Fund 1, with Nedbank and Norfund as limited partners. More

GreenYellow South Africa and AJP Group partner for 4.6 MW Solar
AJP Group chose GreenYellow South Africa to fully operate and maintain the solar PV plants. More

NESRA Updates Solar Registration Numbers
South Africa’s energy regulator registered 142 solar facilities totaling more than 1.1 GW of capacity in the third quarter of the 2024/25 fiscal year. More

Rest of Sub-Saharan Africa

Botswana - Scatec Begins Commercial Operation of 60 MW at Mmadinare Solar Park
The plant is backed by a 25-year PPA with Botswana Power Corporation. Construction is ongoing for the remaining 60 MW, expected completion by early 2026. More

Botswana - Country seeks 1.5 GW of Solar Power to Speed Green Transition
Botswana will this month seek proposals for the construction of 1.5 GW of solar power generation, the country’s mines and energy minister said. More

DR Congo - Energise Africa Launches Bond to Support Altech’s Solar Expansion
The bond offer seeks to raise 650.000 USD. The bond has a 36-month maturity and offers an expected interest rate of 8% per annum. More

Namibia - Expands Renewable Energy with $19M USD Khan Solar PV Plant
The Khan Solar Plant is the result of a partnership between Alpha Namibia Industries Renewable Energy Power and Access Aussenkehr Solar One Namibia. More

Nigeria - Hotspot signs MoU with Clear Blue to deploy 312 Solar Telecom Sites
Signed with Clear Blue led consortium, including partners Empower New Energy and Netis. The deal is subject to final contract negotiations, rollout is targeted for the end of 2025. More

Nigeria - Nigeria and SEforALL Target $500M Fund for DRE
The fund will be backed by the Nigerian Sovereign Investment Authority (NSIA) and managed by Africa50. More

Nigeria - REA Signs MoUs to Provide Renewable Energy through DARES
The Rural Electrification Agency has signed multiple MoUs with Renewable Energy Service Companies. More

Revitalizing Off-Grid Solar: Why Africa’s PAYGo Sector is Ready for a New Dawn
Three impact investors explain why they remain optimistic about Africa’s PAYGO Sector. More

West Africa Secures $109M USD Investment from EBID and EIB
ECOWAS Bank for Investment and Development (EBID) and the EIB, with support from the EU, aims to bridge the financing gap for clean energy projects. More