News Update - November 2024: Part 2

South Africa

Volkswagen Group Africa adds additional 3 MW solar energy
The total output of renewable energy is now 5.9 MW. The company has invested close to $5.5M USD in solar energy to date. More

Scatec completes the Kalkbult, Linde, and Dreunberg transaction
Scatec received $24M USD for its ownership sold to STANLIB in the second phase and has in total received $51M USD. More

Château Gâteaux announces PPA with SOCO CAPITAL
SOCO CAPITAL will develop and install a 700 kWp grid-tied solar PV system at Château Gâteaux’s production facilities. More

Consortium reaches financial close on 260 MW solar and wind project
The combined capital cost of the installations is approximately $414.6M USD with lenders including Standard Banks, ABSA, and Nedbank providing debt financing. More

Pele Green Energy achieves financial close for 100 MW Sonvanger solar project
This launch is particularly significant as it is the first utility-scale project closed by a sole sponsor and single IPP in South Africa. More

Rest of Sub-Saharan Africa

Benin - Benin starts building $25.8M USD solar plant
The 25 MW project is a cooperation with the Beninese government together with French Development Agency (AFD) and the European Union. More

Kenya - Solarise Africa RUBiS Energy Kenya established RUBiSOL
This company is a joint venture that will provide renewable energy solutions to commercial and industrial clients in East Africa. More

Nigeria - EU and Enugu Government launch $2.6M USD solar project
The project is aimed at electrifying over 25 Primary Health Centres (PHCs) and small-scale businesses in the state. More

Senegal - JUWI reaches financial close on $31.5M USD solar plant
JUWI is going to build an off-grid 20 MWp solar and 11 MWh battery project at Eramet Senegal mineral sands mine. More

Senegal - eMobility startup Solarbox Africa secures $1M USD pre-seed
The funding was led by early-stage investors Digital Energy Facility, Launch Africa, JLL Foundation as well as Teranga Capital. More

Zimbabwe - Grid Africa agrees deal with group of miners to build 200 MW
The solar power is for the miners operations and will come at a cost of approximately $180M USD. More

IFC Commits $25M USD to Acumen’s H2R Initiative
Blended Finance Initiative to Provide Solar Power to Millions, Catalyzing Market Growth and Supporting Africa's Energy Transition.

Norway announces $175M USD state guarantees
The state guarantees are for investments in renewable energy in developing countries. Norad will manage the scheme with support from Norfund. More

Rockefeller invests $10.9M USD to advance clean energy in Africa
The funding will build on the foundation’s $10M USD in earlier commitments to energy transition projects across sub-Saharan Africa through GEAPP. More