News Update - October 2022: Part 2

Nigeria

Nigeria to Receive $70bn of Climate Change Investment Opportunity in AfricaNigeria will receive around $70 billion, or 7% of the $1 trillion climate change investment opportunity coming to Africa, according to the IFC. More

REA to spend $105 million on solar power plants in 7 federal universitiesNigeria’s Rural Electrification Agency (REA) has contracted five renewable energy companies to build solar hybrid power plants, will would cost $105 million. More

South Africa

Cape Town-based IPPs rocket SA into the energy realmIPPs have showcased the role renewable energy has played in addressing the energy crisis amid the scramble for more energy to be added to the South Africa national grid. More

Standard Bank to exceed 2022 green financing targetStandard Bank will exceed its green financing target of R50 billion ($2.8 billion) this year, as South Africa's scrapping of regulations on self-generated renewable energy projects. More

Here are some of the biggest renewable projects planned for South AfricaIn July of this year, the president announced the unlocking of approximately $8.5 billion (R140 billion) worth of green energy investment. More

South Africa’s Redstone Concentrated Solar plant should be complete by 2024Construction is currently at 45.5 percent completion. Once complete the solar plant will contribute 100MW to the national grid. More

A look at Heineken’s massive new solar plant in South AfricaHeineken South Africa launched a solar power plant at its Sedibeng, Midvaal brewery in Gauteng moving closer to reducing carbon emissions in all its operations. More

Rest of Sub-Saharan Africa

Mozambique - AfDB provides US$2.5 million to Mozambique for solar studiesThe money will allow the national electricity company EDM to support funding for a feasibility study into battery energy storage systems at up to 10 sites. More

Mozambique - Ncondezi Energy starts process to find Buyer or JV PartnerCEO Hanno Pengilly speaks to Proactive following its shift away from coal towards solar power at its site in Mozambique. More

Ethiopia - Launch of “Dream” program for solar irrigationThe program which was launched in Addis Ababa, will involve construction of 200 solar mini-grids to provide clean electricity to power irrigation systems. More

Rwanda - World Bank, GOGLA commend Rwanda on SDG7, seek more solar fundingGOGSFE forum called for more investment to the tune of $20-30billion to not only reach the target but also provide quality solar products and ensure customer uptake. More

The Gambia - Results of 150MWp regional solar park project study publishedThe pre-investment studies concluded that the implementation of the Regional Solar Power Park Project in The Gambia will be in two phases. More

Uganda - Equatorial and GIZ team up to solarize 27 rural clinicsElectricity provider Equatorial Power is teaming up with the German International Development Cooperation Agency (GIZ) to provide solar energy. More

Africa - Acre launches $200 million fund for climate financeThe investment company Acre Impact Capital is launching a $200 million investment fund dedicated to Africa. More

Africa - African Development Bank plans $1.5 billion green facilityThe African Development Bank is setting up a $1.5 billion green finance facility to help meet surging demand for money to develop clean energy. More