News Update - November 2025: Part 1

Chad - Axian Energy Signs MoU for 100 MW Solar Plant
100 MWp solar plant paired with a 50 MWh battery storage system in N’Djamena. The project is being developed in partnership with Green Energy Solutions. More

Ghana - Starts Construction on 200 MW Norbert Anku Solar Plant
The project is being developed by Solar for Industries Ltd., a subsidiary of LMI Holdings and will be built in two phases of 100 MW. More

Mali - SolarX Secures $16.3M USD Debt Facility to Scale C&I Solar
Afrigreen Debt Impact Fund has committed $16.3M USD in senior debt financing to SolarX. More

Namibia - Sedgeley Solar Group Raises $60M USD to Expand C&I Solar
The equity round is led by Evolution III Fund, Inspired Evolution’s energy transition funding vehicle. The consortium also includes FMO, Swedfund and others. More

Nigeria - All On Makes Follow-On Investment to Scale ICE Solar
Impact investor All On has committed an additional USD 250,000 to ICE Solar, strengthening the company’s efforts to expand their solar products. More

Nigeria - IFC Proposes $16M USD Revolving Loan to Support 97 Solar Minigrids
The revolving loan is for Virtuitis Solaris for the construction and operation of 97 solar minigrids across nine Nigerian states. More

São Tomé & Príncipe - Release by Scatec Signs Lease Agreement 11 MW Solar Plant
Release will finance, install, and operate the modular solar system, while EMAE will purchase the electricity under a long-term arrangement. More

South Africa - Sturdee Energy Reaches Financial Close on $108M USD Solar Plant
Valued at $108M USD (ZAR 2 billion), the project will supply clean, wheeled electricity to a major South African gold-mining group under a five-year PPA. More

South Africa - Norfund Invests $75M USD in Mulilo
For CIP, which acquired a majority stake in Mulilo Energy Holdings in March 2023, Norfund’s entry strengthens the company’s financial base and supports. More

Uganda - Sawa Energy Secures $2.88M Equity Investment to Scale C&I Solar
Sawa Energy, a renewable-energy developer active in Uganda and Rwanda, has raised USD 2.88 million (EUR 2.5 million) in equity financing from ElectriFI. More

Zambia - AfDB Approves $14.5 Million Financing for 20 MW Solar Plant
The financing structure combines $7.27 million from AfDB’s ordinary capital resources with an equal amount in concessional co-financing from a partnering DFIs. More

Zambia - GenVision, Tatanga Energy, AMDG Energy to Develop 300 MW Solar Plant
The parties have signed an agreement to jointly develop a 300 MW solar plant with 800 MWh of battery energy storage in Zambia’s Copperbelt Province. More

Zimbabwe - Zimplats Begins Construction of $54M USD Solar Plant
The company spent $12M USD on the project during the quarter, with a further $36M USD committed. More