News Update - September 2022: Part 1

Nigeria

Barika and Kraft secures financing for Green Energy projects in NigeriaDubai based financing consultants, Barika and Kraft has successfully raised over 60 Million US dollars in their third funding round to finance various Nigerian electricity interconnection projects. More

Nigeria to receive from $12bn US fund, agree on transition planNigeria is expected to benefit from the $12 billion Emergency Programme for Adaptation and Resilience put in place by President Joe Biden to help countries to reduce the obvious impacts of the climate crisis. More

Nigerian Solar-Based Internet Provider Seeks IPO, $50 MillionTizeti, a US-backed Nigerian startup that connects homes to the internet through solar-powered towers, is looking to raise as much as $50 million to expand its operations. More

ANALYSIS: Reviewing Nigeria’s Energy Transition Plan to solve the electricity problem At COP 26 in Glasgow, Scotland, President Muhammadu Buhari made a commitment that Nigeria will go net zero by 2060. It is for this purpose that the Nigerian government launched the Energy Transition Plan (ETP) in August. More

South Africa

Major platinum mining company planning 520 MW renewable generationPlatinum group metals mining and marketing company Implats is planning to introduce 520 MW of renewable power as part of an ambition to reduce its carbon footprint by 30% by 2030 and become carbon neutral in 2050. More

Juwi wins operational management for 85MW solar park in South AfricaJuwi Renewable Energies today announced that it has taken over the operations and maintenance (O&M) of the 85 MW De Aar 1 solar farm. More

Largest corporate solar PPA in Africa reaches financial closeSOLA Group and African Rainbow Energy reached financial close on 200MW solar PV projects for Tronox Mineral Sands, making these the largest corporate renewable energy Power Purchase Agreement in Africa. More

ABO Wind sells solar facilities in South Africa to SOLA GroupGerman renewable energy developer ABO Wind has sold the project rights to two solar photovoltaic (PV) farms in South Africa, each with 100MW of capacity. More

Kenya

President Ruto reaffirms Kenya’s commitment transition to 100% clean energyPresident William Ruto was sworn in as the 5th president of the Republic of Kenya. In his address soon after being sworn in as president, he reaffirmed Kenya’s commitment to transition to 100% clean energy by 2030. More

Chinese tech to spur solar energy uptake in KenyaJulius Opio, Chairman of Kenya National Chamber of Commerce and Industry (KNCCI) Nairobi County told journalists that China has been identified as a partner for high-quality affordable equipment for the production of renewable energy. More

IFC, KCB Partnership to Boost Access to Climate Finance in KenyaKCB Bank Kenya and IFC whereby IFC will extend a $150 million loan to KCB Bank Kenya to fund the growth of the bank's climate finance portfolio. More

Rest of Sub-Saharan Africa

Senegal - UK-based power Bboxx buys solar energy provider PEG AfricaThe acquisition gives Bboxx access to new markets in Senegal, Ivory Coast, Ghana, and Mali, bringing its total operating markets to 10 countries. The agreement is closed and financials have not been disclosed. More

Malawi - IFC, Scatec JV, & EDF sign agreement for 350MW hydropower plantScatec, and its venture partners British International Investment (BII) and Norfund, and EDF are majority shareholders in the project and will own 55% of the project, split equally between them. More

Togo - Issues RfP to select list of bidders for a 50 MW solar projectThe government of Togo, has issued a request for proposal (RfP) to a select list of bidders for developing and financing a 50 MW grid-connected solar project near the second largest Togolese city Sokode. More

Africa leads the world in solar power potential, research findsFigures from the Global Solar Atlas for The World Bank, as analyzed by Statista, reveal the average potential of solar energy around the world and as this infographic shows, Africa is out in front. More

M-KOPA highlights $600 Million in Credit for Underbanked Customers in Africa In 2021 Impact ReportThe report presents findings on M-KOPA’s smartphone, solar, and cash loan customers across Kenya, Uganda, Nigeria, and Ghana. More

Empower New Energy and Multiconsult partner to scale up distributed solar in AfricaThe partnership is enabled through support from the Sustainable Energy Fund for Africa (SEFA), a fund managed by the African Development Bank. More