Standard Bank, Citi, Norfund and CDC Group partner to fund US$75m sustainability-linked facility in Kenya

KENYA – Standard Bank Group, Citi, CDC Group and Norfund have partnered to provide a US$75 million Sustainable Finance Facility for Greenlight Planet Kenya. The landmark facility is one of the first sustainability-linked deals in Kenya, and one of the largest syndicated sustainable finance deals in the region to be provided in local currency. The transaction will allow Greenlight Planet to expand access to off-grid solar solutions to off-grid communities throughout Kenya and support its ambitions to reach an additional 10 million households globally in the next 5 years by…

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Multinational effort brings the first solar field to Burundi

BURUNDI – A multinational effort to bring solar power to Burundi has been realized with the commercial operation of the country’s first-ever solar field.   The pioneering 7.5 MW solar PV plant has increased Burundi’s generation capacity by over 10% and is the country’s first substantial energy generation project to go online in over three decades, supplying clean power to tens of thousands of homes and businesses – just before the start of COP26 in Glasgow, Scotland. The plant near the village of Mubuga supports international efforts to increase renewables…

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Africa REN starts construction for 38MW Burkina Faso solar project

BURKINA FASO – West Africa-focused renewable energy independent power producer, Africa REN, has commenced construction for the 38 MW Kodeni Solar power plant in Burkina Faso after reaching financial close. Once completed, the renewable energy facility will be the largest solar power plant in the West African country. The plant is scheduled to be commissioned in August 2022 and Kodeni Solar plant will supply power to Burkina Faso’s state-owned electricity utility, SONABEL, via a  25-year power purchase agreement (PPA).  INEO by EQUANS, a subsidiary of French energy company, Engie Group, has been…

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Eskom join hands with coal giants Exxaro & Seriti to develop renewables

SOUTH AFRICA – State-owned electricity utility Eskom, has signed a Memorandum of Understanding (MOU) with two of its largest coal suppliers, Exxaro and Seriti Resources, to jointly develop renewable energy projects to lower carbon footprint at their operations. Exxaro and Seriti supply around 80% of Eskom’s coal requirements annually and by implementing renewable energy solutions at their Eskom-tied operations and at related Eskom sites, Seriti and Exxaro aim to achieve both carbon reduction and cost savings in the generation and use of electricity at these mines. This is symbiotic with…

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Frazium Energy seals deal to develop 100MW solar plant in Eswatini

ESWATINI – Australian renewable energy independent power producer, Frazium Energy, has signed an agreement with the government of Eswatini (formerly known as Swaziland) for the development of a 100 MW solar plant in the Southern African Kingdom.  Frazium Energy says the development will require around €100 million (US$115 million) in investment and will include a battery energy storage system (BESS). The agreement signed with Eswatini grants Frazium Energy rights to operate the renewable energy facility for 40 years. “We are so grateful to the government of Eswatini for their support, confidence, and belief…

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Kipeto Wind Power gets US$10m funding for biodiversity conservation

KENYA – Independent Power Producer (IPP) BTE Renewables (BTE) and The Nature Conservancy (TNC) have signed a US$10 million loan agreement for biodiversity conservation around the Kipeto wind farm in Kenya. The facility recently went into commercial operation in July 2021 and the wind farm, the third in operation in the country, has a capacity of 100 MW. The recently signed loan agreement between independent power producer (IPP) BTE Renewables (BTE) and The Nature Conservancy (TNC) will enable biodiversity conservation around the Kipeto Wind Farm. The agreement is a US$10…

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French firms Qair & STOA set up renewables investment platform for Africa

AFRICA – French renewable energy independent power producer Qair, and STOA, the investment holding company created by the Caisse des Dépôts et Consignations (CDC) and the Agence Française de Développement (AFD), has launched a renewables investment platform for Africa, MIHIA Holding (Make It Happen In Africa), in which they respectively hold 51% and 49%, reports Renew Africa. “We have high hopes for the MIHIA platform, dedicated to electricity generated from renewable energy sources on the African continent. This long-term partnership is based on the trust and the quality of the…

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Total Eren joint venture with Sonangol & Greentech to build 35MW solar plant in Angola

ANGOLA – Renewable energy Independent Power Producer, Total Eren, has concluded an agreement with Angola’s state oil giant Sonangol, and energy company Greentech, to jointly develop the 35 MW Quilemba solar photovoltaic (PV) power plant in the Huila Province of Angola. According to the agreement, Sonangol will be acquiring a 30% interest in Quilemba Solar Lda (Quilemba Solar), while Total Eren and Greentech will own 51% and 19% respectively.  “The signing of this agreement represents, on one hand, the strengthening of the partnership with TotalEnergies in Angola and Greentech and, on the other,…

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EDFI and GET.invest to inject US$12.34m in renewable energy in Burundi

BURUNDI – The European Union (EU) is launching its EDFI ElectriFI and GET.invest programs with the aim of encouraging private investment in renewable energy in Burundi. The aim of this funding is to support the electrification of Burundi, one of the least developed countries on the African continent. The first is the EDFI ElectriFI (Electrification Financing Initiative) program, which is an impact investment facility that finances start-up companies and private projects, focusing on new or improved electricity connections and generating capacity from clean energy sources. EDFI ElectriFI supports the development…

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Solar power provider d.light secures US$15m financing round to bolster its growth plans

AFRICA – d.light, a leading innovator of solar, lighting and sustainable products has secured a US$15 million financing round led by Inspired Evolution via its Evolution II Fund.  Other investors that participated in the round included Shell New Energies, FMO, Norfund, Swedfund, and KawiSafi Ventures.   This capital raise will bolster the company’s plans to continue growing its Pay-Go consumer finance business in key markets across Africa.   “We are pleased to support the company with additional capital for growth and to secure the support from many of the existing shareholders during these difficult Covid-19 times,” Wayne Keast, Co-Managing Partner of Inspired…

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