AfDB and Others Pledge $160 Million for Improving Energy Access in Africa

AfDB and Others Pledge $160 Million for Improving Energy Access in Africa

To improve energy access in Africa by using small scale renewable projects and mini-grid projects, the African Development Bank (AfDB), the European Commission, KfW, the Clean Technology Fund, Norfund, and ...
/ / Finance and M&A, Other
AfDB and Nigeria Launch National Electrification Project to Boost Energy Access

AfDB and Nigeria Launch National Electrification Project to Boost Energy Access

The African Development Bank (AfDB) and the Government of Nigeria announced the launch of their National Electrification Project (NEP), which aims to help improve access to energy by promoting private ...
/ / Grid, Other
Sweden’s Azelio Installs Round-the-Clock Energy Storage System in Morocco

Sweden’s Azelio Installs Round-the-Clock Energy Storage System in Morocco

Azelio, a Swedish renewable energy storage company, has completed installing a renewable energy storage system with round-the-clock clean power production at the Noor Quarzazate solar complex in Morocco. According to ...
/ / Energy Storage, Other
IFC to Help Burkina Faso Assess Economic Benefits of Solar Energy Storage Systems

IFC to Help Burkina Faso Assess Economic Benefits of Solar Energy Storage Systems

The International Finance Corporation (IFC), the financial wing of the World Bank Group, has signed an agreement with Burkina Faso’s Ministry of Energy to assess the economic benefits of private ...
Africa and Middle East Wind Capacity Additions Down 7% in 2019

Africa and Middle East Wind Capacity Additions Down 7% in 2019

Africa and the Middle East have added 894 MW of wind power capacity in 2019, down by 7% from the previous year, according to data released by the Global Wind ...
/ / Wind
CDC Group has Allocated $10 Million to Boost Solar Power in South Africa and Namibia

CDC Group has Allocated $10 Million to Boost Solar Power in South Africa and Namibia

CDC Group, a U.K. government-owned financial development institution, has announced that it plans to invest £2 billion (~₹184.41 billion) in African businesses over the next two years to double the ...
AfDB Sponsored Off-Grid Energy Access Fund Successfully Raises $59 Million

AfDB Sponsored Off-Grid Energy Access Fund Successfully Raises $59 Million

The African Development Bank (AfDB) recently announced that the Facility for Energy Inclusion’s Off-Grid Energy Access Fund (FEI OGEF) reached its final equity close target of $59 million (~₹4.17 billion) ...
African Development Bank Approves $21.7 Million for Solar Pumps in Sudan

African Development Bank Approves $21.7 Million for Solar Pumps in Sudan

The African Development Bank (AfDB) has approved a $21.78 million (~₹1.54 billion) grant to the government of Sudan to promote the adoption of solar-powered irrigation pumps in the country. The ...
AfDB Extends $153.5 Million for Developing Tunisia’s Power Transmission Network

AfDB Extends $153.5 Million for Developing Tunisia’s Power Transmission Network

In a major boost to the Tunisian renewable energy sector, African Development Board (AfDB) has sanctioned €138 million (~$153.5 million) for the Tunisian Company of Energy and Gas (STEG) to ...
/ / Grid, T&D
Engie Set to Acquire Solar Solutions Provider Mobisol to Expand its Footprint in Africa

Engie Set to Acquire Solar Solutions Provider Mobisol to Expand its Footprint in Africa

The French multinational energy conglomerate Engie has decided to expand its operations in Africa through the acquisition of Mobisol, an off-grid solar solutions company. With the acquisition of Mobisol, Engie ...
/ / Off-grid, Solar
Off-Grid Solar Solutions Provider BBOXX Raises $50 Million Funding Led by Mitsubishi

Off-Grid Solar Solutions Provider BBOXX Raises $50 Million Funding Led by Mitsubishi

BBOXX, an off-grid solar solutions provider, has raised $50 million (~₹3.58 billion) in a Series D round of funding. Mitsubishi Corporation led the round by investing a significant amount. According ...
/ / Off-grid, Solar
NOTS Solar Lamps to Invest $70 Million in Solar Home Systems Manufacturing in Rwanda

NOTS Solar Lamps to Invest $70 Million in Solar Home Systems Manufacturing in Rwanda

NOTS Solar Lamps in collaboration with the Government of Rwanda has announced a deal to speed up the process of providing power to families with least incomes in Rwanda. NOTS ...
Globeleq Announces Financial Closure for its 40 MW Solar Project in Kenya

Globeleq Announces Financial Closure for its 40 MW Solar Project in Kenya

Globeleq, an energy company focused on Africa has announced the financial closure of a 40 MW Malindi Solar photovoltaic project in Kenya. The company has also announced that it has ...
/ / Finance and M&A, Solar
GuarantCo and Sindicatum Renewables Sign Deal for Green Bonds Worth $60 Million

Nigeria to Raise $41.5 Million Through its Second Green Bond Issue

The debt management office (DMO) of the federal government of Nigeria has announced that it is looking to execute a second green bond issuance - Series II Green Bonds amounting ...
AfDB to Provide $20 Million for Mini-Grid Solar Projects in Congo

AfDB to Provide $20 Million for Mini-Grid Solar Projects in Congo

The African Development Bank board (AfDB) has announced the approval of a $20 million loan to the Democratic Republic of Congo (DRC). The funding will be used to support the ...
/ / Finance and M&A, Solar
World Bank Commits $22.5 Billion to Scale Up Climate Action in Africa

World Bank Commits $22.5 Billion to Scale Up Climate Action in Africa

The World Bank has committed $22.5 billion to Africa for climate adaptation and mitigation in the next five years. The funding is part of the World Bank’s 2025 target to accelerate ...
/ / Finance and M&A, Other
Solar Solutions Provider BBOXX Raises $6.78 Million Through Crowdfunding

Solar Solutions Provider BBOXX Raises $6.78 Million Through Crowdfunding

BBOXX, an off-grid clean energy technology provider, has announced that its funding initiative has reached the €6 million (~$6.78 million) mark. BBOXX was assisted by Trine, a company that helps ...
/ / Finance and M&A, Solar
West African Countries Propose a Solar Energy Corridor

West African Countries Propose a Solar Energy Corridor

Economic Community of West African States (ECOWAS) has taken the initiative to create a West Africa Clean Energy Corridor (WACEC) to increase the share of renewable energy in the energy ...
/ / Markets & Policy, Solar
BlackRock Real Assets Power and Energy Infrastructure Fund Raises $1.5 Billion

Evolution II Fund Closes $7.47 Million Investment for Solar Projects in Africa

Inspired Evolution, an Africa-focused investment advisory firm that specializes in the clean energy sector, closed a ZAR 100 million ($7.47 million) investment facility by its Evolution II Fund into Commercial ...
/ / Markets & Policy, Solar
Maharashtra Takes a Tough Stance on Solar and Non-Solar RPO Enforcement

AfDB Approves $25 Million Renewable Energy Fund for Projects in Sub-Saharan Africa

The African Development Bank Group (AfDB) has announced an equity investment of up to $25 million in ARCH Africa Renewable Power Fund (ARPF), a $250 million private equity fund that ...
/ / Markets & Policy, Solar
Green Climate Fund Pledges $1 Billion to Fight Climate Change in Developing Countries

UK Climate Investment and Investec Pledge 1 Billion Rand for Renewable Projects in Africa

The U.K. Climate Investments (UKCI) has announced that it will invest 500 million Rand ($36 million) in Revego Africa Energy Limited, an investment vehicle dedicated for renewable energy projects in Africa ...
/ / Other, Renewable Energy
BlackRock Real Assets Power and Energy Infrastructure Fund Raises $1.5 Billion

AIIM to Invest $31 Million in Off-Grid Solar Solutions Provider BBOXX for a Minority Stake

BBOXX, an affordable clean energy solutions provider to off-grid communities in Africa, has announced that Africa Infrastructure Investment Managers (AIIM), through its AIIF3 fund, is investing $31 million for a minority stake ...
/ / Finance and M&A, Solar
Average Peak Power Supply Deficit Rose to 2% Across India During FY 2017-18

World Bank and AFD to Launch Solar Risk Mitigation Initiative in Emerging Economies

The World Bank and Agence Française de Développement (AFD), France’s public development bank, have announced that they are jointly working on a Solar Risk Mitigation Initiative (SRMI) to improve solar energy deployment in some ...
/ / Markets & Policy, Solar
Seraphim to Open a 500 MW Solar Cell Factory in South Africa

Seraphim to Open a 500 MW Solar Cell Factory in South Africa

Jiangsu Seraphim Solar System, a solar product manufacturer, has announced to open 500 MW solar cell factory in the Port Elizabeth, South Africa. The cell factory based in Coega Industrial ...
/ / Markets & Policy, Solar
India’s Solar Installations Decline Quarter-Over-Quarter to 1.6 GW in Q2 2018

African Countries Receive Financial Assistance Against Payment Risk for Renewable Projects

The Regional Liquidity Support Facility (RLSF) has signed agreements with five African countries to provide financial assistance to their independent power producers (IPPs) against payment risks, noting that the lack of ...
/ / Other, Renewable Energy