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 ...
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 ...
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 ...
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 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 ...
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
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
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
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 ...
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 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 ...
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, 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 ...
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
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
