News Update - May 2023: Part 2

June 01, 2023

Nigeria

REAN and Odyssey Energy sign $100M USD equipment finance deal
Together they will make $100M of equipment finance available to REAN members with very favorable terms. More

The Nigeria Solar Investment Report 2022 provides funding landscape insights
Includes 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

Chapel Hill Denham and REA sign MoU for financing off-grid projects
Chapel Hill Denham and Rural Electrification Agency sign a MoU to facilitate financing for off-grid electrification projects in Nigeria. More

WATT secures $10M USD deal for 5.6MW power delivery in Nigeria
WATT Renewable Corporation secured a $10M USD contract with an African bank to deliver 5.6MW of power to several sites across Nigeria. More

Pan African signs PPA solar energy supply 40 MW plant in Bela Bela
It will be funded by third party financial institutions with no upfront capital required from Pan African. More

Load shedding is an opportunity’ for private equity
Jaco Maritz takes a closer look at private equity investment in South Africa’s power sector and highlights emerging prospects within the industry. More

Shoprite Group is accelerating the rollout of rooftop solar
Installed at its sites across South Africa, Shoprite aim to power 25% of the Group’s operations with renewables in the next 5 years. More

Sun King and Citi close $130M USD securitisation
Sun King and Citi have established a first-of-its-kind, bank-led and full Kenyan-Shilling-denominated $130M sustainable securitisation transaction. 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

CEI Africa announces intent to award first RBF grants
The intention is to award 3 RBF grants for a total of up to $7.3M USD to Kenyan green mini grid developers, Renewvia, Kudura and PowerHive. More

Ghana - IFC to provide $70M USD for Equatorial Coca-Cola Bottling
The funding to reduce energy consumption consists of $56M USD in equity and loan financing. The other part of the financing is $15M USD. More

Ivory Coast - $61M USD solar plant in Ivory Coast set for construction
The concession contract for the Bondoukou solar power plant was signed by independent power producer AMEA Power. More

Senegal - The Société des cultures légumières (SCL) opens solar park
German energy solutions provider GRIPS Energy is commissioning its first solar photovoltaic plant in Senegal. More

Tanzania - Tanesco signs $116M USD contract for 150 MW solar project
The project will be implemented in a 1 year period by Chinese contractor Sinohydro Corporation. More

Tanzania - Zanzibar signs contract with investors for 180 MW solar
The investment will be done by Generation Capital Limited and local partner Taifa Energy which is part of the renowned Taifa Group. More

BOAD and Africa50 sign partnership to co-finance sustainable infrastructure
A new partnership between West African Development Bank (BOAD) and Africa50 is being set up to finance climate-resilient infrastructure. More

E3 Capital and Lion’s Head climate fund hits first close at $48M USD
The fund targets to close at $100M USD and provides initial and follow-on funding to African startups, such as solar providers and EV startups. More

Mobilising private sector financing for climate and green growth in Africa
Dr Akinwumi Adesina, President of the AfDB, proposes 5 approaches that governments and development partners should take. More

NEFCO and CCA to finance clean cooking in Sub-Saharan Africa
A partnership was recently signed between the Nordic Environment Finance Corporation (NEFCO) and the Clean Cooking Alliance (CCA). More