Husk Power Raises $103M for World's Biggest Mini-Grid Expansion
Husk Power Systems raises $103 million to expand their award-winning mini-grids to India, Nigeria, DRC, and other African countries. Solar and battery mini-grids will bring affordable, reliable power to households and small businesses. STOA Infra & Energy SAS leads investment round.
Oct 26, 2023 // Markets & Finance News, Grids, India, Asia, Africa, mini-grids, Husk Power
Solar-Powered SUV Drives Morocco: From Mountain Peaks to Desert Dunes
Experience the future of driving: the world's first off-road solar-powered SUV designed by a team of Eindhoven University of Technology students, tested in Morocco. 710km range with a top speed of 145km/h, light-weight and ultra-efficient. Don't miss out!
Oct 17, 2023 // Transport, Africa, Morocco, Eindhoven University of Technology
ABO Sells Final 100MW of Solar Cluster in South Africa
ABO Wind AG, a German renewables developer, sells the remaining 100 MW of a 300 MW solar project in South Africa's North-West Province. 450 acres of private land, private power purchase agreement and 4.6 GW of renewable energy projects in the pipeline. Helping Tronox Mineral Sands to use sustainable energy.
Oct 12, 2023 // Markets & Finance News, Africa, South Africa, ABO Wind AG
OCP Group Secures IFC Debt for 400 MWp Solar
Discover how OCP Group, a Moroccan producer of phosphates and fertilisers, has secured funding from the IFC and is taking the lead on North Africa's largest solar-plus-storage project. With 200MWp of solar parks and 100MW of energy storage, OCP is aiming for carbon neutrality by 2027.
Oct 11, 2023 // Markets & Finance News, Africa, Morocco, OCP Group
Mozambique: Solar-Powered Hybrid Minimizes Diesel Use
Syrah Resources Ltd is leading the way in renewable energy with full operations of its solar-plus-storage hybrid system in Mozambique. This innovative system reduces carbon emissions by 13%, while cutting diesel consumption. Solarcentury Africa Ltd and CrossBoundary Energy provided engineering, procurement, and financing services. Syrah Resources owns the system after a 10-year BOOT term.
Oct 11, 2023 // Plants, Large-Scale, Commercial, Storage, Africa, Mozambique, Syrah Resources Ltd
Adenia Acquires S.Africa Solar Financing Giant
Adenia Partners has acquired a controlling stake in Enfin Energy Finance, the leading South African solar power financing solutions provider. Their purchase marks the first investment from their 5th flagship fund and will help Enfin build over 100MW of solar systems in the next 5 years, simultaneously allowing businesses to become more reliable on grid power and support them in the energy crisis.
Oct 11, 2023 // Markets & Finance News, Africa, South Africa, Adenia
PIC to Grow Green Energy: $854m and Beyond
The PIC, Africa's top asset manager, is investing in renewable energy sources to tackle South Africa's power crisis. Their current investments have already produced 2000 megawatts for the grid, and they have invested 310 million rand in Rifuwo Energy Partners. The PIC is also looking into solar panels on property roofs to provide further renewable energy solutions.
Oct 4, 2023 // Markets & Finance News, Africa, PIC
China-Al Mada Strike $2B EV Battery Deal in Morocco
CNGR Advanced Material and Al Mada have announced plans to set up a $2 billion industrial hub in Morocco for EV battery production with an annual capacity of 1 million vehicles. Strategic initiatives by Huayou & Gotion High-Tech result in a combined $26.3 billion investment in Morocco's automotive sector.
Sep 22, 2023 // Manufacturing News, Markets & Finance News, Storage, Africa, Morocco, CNGR Advanced Material, Al Mada
Kenya: Offering Green Solutions at COP28, Not Aid
African President William Ruto is pushing for African nations to use sun, wind, and green mineral sources to combat global warming. He urges reform to fund climate efforts & low-carbon development. Other African nations struggle with fossil fuel dependence, looking for climate friendly industrialization supported by Europe & the rest of the world. Africa hopes to decarbonize the global economy.
Sep 6, 2023 // Markets & Finance News, Kenya, Africa, William Ruto
Saudi's $123M Egypt Solar Closes Financing
ACWA Power has closed financing for 200MW Kom Ombo solar project in Egypt, with $123 million of the total $182 million investment coming from international institutions. In January 2024, the plant will provide electricity to 130,000 households and help Egypt meet its 2035 goal of 42% renewable energy.
Aug 30, 2023 // Markets & Finance News, Asia, Africa, Egypt, ACWA Power, Solar Project
Morocco Launches Noor Midelt III Tender
Masen is making strides towards their goal of 52% renewable energy by 2030, with the launch of a call for pre-qualification for the 400-MW Noor Midelt III solar power project and accompanying 400-MWh battery energy storage system. Interested parties have until October 20 to submit proposals for the competitive process.
Aug 10, 2023 // Plants, Markets & Finance News, tender, Africa, Morocco
Shell-backed Daystar Shines in SA's Power-Hungry Market
Shell-backed Daystar Power is expanding its operations into South Africa to provide alternative power systems as demand increases due to record power cuts. Daystar plans to build up to 120 megawatts of solar power with 400 megawatts across Africa by 2025, targeting large-scale, bankable commercial and industrial users. An office is also opening in Tanzania.
Aug 9, 2023 // Markets & Finance News, Africa, South Africa, Daystar Power, Shell Plc
STANLIB Powers Solar, EV Push in SA
South African investment firm STANLIB has acquired a 51% stake in energy solutions provider Solareff Ltd and its electric vehicle charging infrastructure subsidiary GridCars, committing to fund ZAR 600 million in capex-free energy solutions. This move seeks to make a social and economic impact in South Africa.
Aug 8, 2023 // Markets & Finance News, Africa, South Africa, STANLIB, Solareff
Absa Backs Ghana's 100-MW Solar Plant
Absa Group provides USD-24-million corporate loan to construct a 100-MW solar power plant in Ghana led by West Africa-focused PV developer Meinergy Technology Limited. This loan supports Ghana's renewable energy capacity & energy needs.
Aug 8, 2023 // Plants, Large-Scale, Commercial, Markets & Finance News, Africa, PV Power Plant, Ghana, Absa Group
MIGA Backs BTE Investment in S. African Solar
Actis' BTE Renewables has secured MIGA guarantee for its equity investments in 75-MW South African solar power plant awarded in Round 3 of REIPPP. BTE Renewables, owned by UK growth markets investor Actis, specializes in utility-scale wind and solar projects across Africa and has been sold to French utility Engie SA and Meridiam.
Aug 2, 2023 // Markets & Finance News, Africa, Actis, South Africa, bte renewables, MIGA