News Update - September 2022: Part 2

Nigeria

Shell Acquires African Solar Provider Daystar Power for an Undisclosed AmountThe deal is Shell’s first power acquisition in Africa and will enable Daystar Power to increase its installed solar capacity to 400MW by 2025. More

Sterling & Wilson Wins $1.5-Billion Solar Plants Order from Nigerian GovernmentFinancing for these projects are under negotiations between the US Exim, ING and the government of Nigeria. More

CrossBoundary Energy Access & ENGIE Energy Access Sign $60M Deal CBEA will provide the private capital for the transaction alongside the Performance Based Grant (PBG) funded by the World Bank and administered by REA and the NEP. More

INTERVIEW: Poor stakeholder coordination, biggest challenge to implementing energy policiesWhat are the challenges of achieving energy efficiency in Nigeria and his experience in running an indigenous solar energy company in the country. More

South Africa

Revego Acquires Stake in 52MW of Globeleq’s Solar Assets in South AfricaRevego Africa Energy Limited has acquired equity interests in a portfolio of three of Globeleq’s Solar PV assets in South Africa. More

Cape Town announces its plans to build its first grid-connected solar plant in 2023The municipality has issued a tender for engineering, procurement, and construction of the 7MW solar photovoltaic (PV) plant in Atlantis. More

Merger between Starsight Energy and South African solar firm SolarAfrica EnergyThe merged entity will comprise a portfolio of more than 220MW of operated and contract generation capacity, 40MWh of operation battery storage, and a generational pipeline of more than 1GW. More

AIIM invests ZAR1.25 billion in newly merged Starsight Energy and SolarAfricaAIIM announced an additional investment to support the merger of existing portfolio company Starsight Energy with South Africa-based solar firm, SolarAfrica Energy. More

Revego Africa Energy gets follow-on investment from UKCIUK Climate Investments said it has invested a further £15m (€17.5m) to support Revego’s long-term growth and mobilise further private finance flows in support of South Africa’s clean energy transition. More

Rest of Sub-Saharan Africa

Côte d’Ivoire - investment potential for solar energy projectsInterview with John van Zuylen, African Solar Industry Association, installing a solar system for their own consumption could greatly reduce their total electricity bill. More

Uganda - Construction of floating solar power plantsSweco will work with two French companies, one German firm, and Ugandan subcontractors on this project. The entire value of the order is 0.7m USD. More

West-Africa - German Kowry connects off-grid solar systems in three countriesSweco will work with two French companies, one German firm, and Ugandan subcontractors on this project. The entire value of the order is 0.7m USD. More

DRC, Rwanda - InfraCo Africa, Equatorial Power team up on mini-grid roll-outInfraCo Africa said on Friday that it is committing USD 1.7 million (EUR 1.74m) to support off-grid energy developer Equatorial Power (EP). More

African Development Bank’s SEFA provide $20 million for energy firmsIt is a finance initiative to unlock private capital for energy companies to advance access to clean electricity and ensuring a green economic recovery. More

Malawi - Golomoti Solar gets $25M loan to expand renewable energy storageThe US International Development Corporation (DFC) has committed to a $25 million loan for Golomoti Solar. More

Landscape of Climate Finance in Africa ReportThere is estimates that the African continent requires USD 277 billion annually to implement its NDCs and meet 2030 climate goals. More

Empower partners with CFM and Norfund to accelerate solar investments in AfricaThe norwegian company closes USD 74 million equity deal to finance solar energy for commercial and industrial off-takers. More