Africa

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.

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.

A French-Egyptian consortium is exploring the potential of building two solar energy plants to serve Egypt's metal and aluminum industry. Orascom Construction PLC and Engie met with Egypt's public business sector minister to discuss the renewable energy projects, which could further the country's renewable energy goals.

PNE AG sells 208MW solar projects to TotalEnergies Renewables, part of TotalEnergies' expansion into Eastern Europe. Markus Lesser, CEO of PNE, confirms the Scale Up 2.0 strategy, extending their business model while enhancing company value. 510MW already sold & 1GW under development in Romania. Purchase price undisclosed.

Globeleq has agreed to acquire a 75% stake in Mozambique's 41 MW Mocuba solar plant, showcasing its commitment to African power production. The company is also in the process of commissioning two additional projects with a total capacity of 400 MW.

Morocco's Masen announces pre-qualification of six consortiums to construct 400 MW solar plant in the Atlas Mountains aiming to reduce dependence on fossil fuels. Leading consortiums include Cobra, EDF, Enel, Iberdrola, International Power and Acwa Power with a two-hour storage capacity. Morocco's goal is to reach 80% renewable energy by 2050, and Noor Midelt II is a major contributor to that effort.

TotalEnergies and Sonatrach have signed a cooperation agreement to explore solar, hydrogen and low carbon energies in Algeria. The agreement also includes a R&D programme for the energy transition, as well as increased gas production.

Renewable energy-powered metrogrid company Nuru has secured $40 million in Series B equity funding to construct 13.7 MWp of projects in the eastern Democratic Republic of the Congo, providing reliable and renewable energy to urban communities and promoting climate resilience and sustainable development.

Angola is set to develop photovoltaic electricity networks for rural areas with a EUR 1.3bn Standard Chartered Plc loan, bringing renewable energy to 203,000 households in 60 communities. Supported by German Export Credit Agency Euler Hermes, this project is a major step towards Angola's renewable energy transformation.

Scatec Solar has closed financing on 3 Grootfontein solar projects in South Africa with a combined capacity of 273MW. Construction to begin Q1 of 2024 and estimated to power 100,000 households. Financed by equity and $241m of project finance debt.

The Export-Import Bank of the USA (EXIM) will certainly extend a direct car loan to back the building and construction of two solar parks in the Republic of Angola amounting to more than 500 MW.

Africa-focused lasting power remedies supplier WATT Renewable Corporation said on Tuesday that it won a USD-10-million (EUR 9.33 m) contract to install solar arrays and also power storage in Nigeria for an unnamed financial institution.

German renewable resource investor as well as service provider GRIPS Energy has actually introduced its very first photovoltaic (PV) solar plant in Senegal, a 604-kWp ground-mounted facility at a farm had by regional agricultural company la Societe des Cultures Legumieres (SCL).

British independent energy business Savannah Energy Plc has authorized a Memorandum of Agreement (MoA) with the government of Niger to establish as much as 200 MW of solar projects in the Western African nation.

The President of Burundi, Evariste Ndayishimiye, has actually authorized an intended doubling of the capacity of the nation's initial large-scale solar farm, a ribbon-cutting ceremony for which was held today.