Tag: Clean Energy

Swedish investment platform Trine and Altech Group join forces to bring clean energy to DRC

Frank

DRC – Swedish-based investment platform Trine has partnered with Altech Group, a market leader in the Democratic Republic of Congo (DRC), distributing world-class clean energy products and services to bring clean energy to the country. This comes at a crucial time where nearly 90% of the population of over 80 million are without access to electricity. The first debt financing round will reach over 14,000 people with clean energy across 21 of Democratic Republic of Congo’s 26 provinces and is estimated to reduce 1,300 tons of CO2.  The new partnership, totaling US$6…

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InfraCo Africa to finance construction of Golomoti solar project in Malawi

Frank

MALAWI – Sub -Sahara infrastructure fund InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), and its project partner, JCM Power (JCM), have announced their commitment to finance construction of the 20MWAC Golomoti Solar project with a 5MW/10MWh lithium-ion battery energy storage system (BESS) in Malawi. Golomoti Solar will be the first commercial-scale solar photovoltaic plant in Malawi to include a BESS, and along with its sister project, Salima Solar, Golomoti is among the first commercial-scale solar photovoltaic plants in the country. “As part of our commitment to Malawi’s renewable…

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AfDB approves US$42.9m loan to finance second phase of power transmission project in Madagascar

Frank

MADAGASCAR – The African Development Bank (AfDB) has approved a US$42.9 million loan to finance the second phase of a major power transmission and interconnection project in Madagascar. The Power Transmission Network Reinforcement and Interconnection Project in Madagascar (PRIRTEM-II) includes the construction of a 135-km, 220 kV interconnection line between the capital Antananarivo and the central industrial city of Antsirabé. The project will help to feed the power generated by the Sahofika Hydropower Plant into the national grid, supplying some 8 million people with affordable, clean energy. The financing comprises…

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Evolution II Fund and partners close US$35m commitment to establish and finance energy services firm ESCOTEL

Frank

SOUTH AFRICA – Inspired Evolution, an Africa-focused investment advisory firm that specialises in clean and renewable energy, has led a US$35 million equity investment by its Evolution II Fund and co-investors, Norfund and Sagemcom, to establish and finance ESCOTEL, an energy services company currently focused on Sub-Saharan Africa countries. Headquartered in Mauritius, ESCOTEL has been set up to provide energy services to mobile tower owners and operators, owning and operating decentralised renewable energy infrastructure across Africa. ESCOTEL will initially supply, install, operate, and maintain decentralised solar and storage hybrid power…

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Clean energy businesses in Somalia secure US$8.5m grant from AECF

Frank

SOMALIA – Africa Enterprise Challenge Fund (AECF) has unveiled a US$ 8.5 million grant facility to support clean energy businesses – adoption and diversification of renewable energy in Somalia. The grant is a component of the REACT Sub-Saharan program which is aimed at reducing poverty by increasing the use of renewable energy by off-grid households. The World Bank Sustainable Development Goals tracking report estimates that 11 million Somalis lack access to electricity services, with a mere 3% having access to clean cooking. “We will work with businesses at different developmental…

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Kenya drops IPPs for KenGen to generate clean and affordable energy

Frank

KENYA – Kenya has dropped Independent Power Producers (IPPs) as private project partners in geothermal power production due to their perceived “sluggishness” in supporting government efforts to generate clean and cheaper energy. Energy Cabinet Secretary Charles Keter told The EastAfrican that the government will, instead, work with the state-owned power producer KenGen in the second and third phases of the 465MW geothermal power production at Menengai Geothermal fields, about 185 kilometres northwest of the capital Nairobi. The initial phase involves generation of 105MW of geothermal power while the second and third phases…

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Energy Access Ventures makes follow-on investment in Solarise Africa for clean energy

Frank

AFRICA – Energy Access Ventures (EAV) has announced a follow-on investment in Solarise Africa, a pan-African clean energy and energy efficiency leasing company. The round was led by French development finance institution, Proparco, which invested the US$4.74 million in quasi equity through the AFD Group EU-funded African Renewable Energy Scale-Up facility, alongside existing investors, EAV and EDFI ElectriFI, an EU-funded impact investment facility. “We are grateful for the support we have received by EAV as our anchor investor and by the confidence our existing investors EAV and Electrifi have shown…

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Uber partners with Nissan to introduce all-electric cabs in UK

Frank

UNITED KINGDOM –  Uber, the world’s largest ride hailing app, has entered into an agreement with Nissan to introduce a fleet of 2,000 Leaf hatchbacks for its drivers. The ride hailing giant said in a statement that the decision was part of a broader push from the company to tackle air pollution by ensuring all of its vehicles in London are all-electric by 2025. The CNBC report quoted Uber as saying that it would offer drivers in the UK electric cars from Nissan at a discount, even as it faced…

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Ras Ghareb inaugurates Egypt’s first private & largest wind farm, prepares for a 500MW wind project

Frank

EGYPT- Ras Gharab Wind Energy, one of the leading private power firms in Egypt has announced that the construction and commissioning of the 262.5 MW Ras Ghareb wind farm in Egypt is complete 45 days ahead of schedule. According to a statement distributed by APO, the wind farm is now fully connected to the grid and is ready for commercial operation at maximum capacity. Ras Ghareb Wind Energy SAE is owned by ENGIE (40%) and its consortium partners Toyota Tsusho Corporation/Eurus Energy Holdings Corporation (40%) and Orascom Construction (20%). Yoven…

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Nigeria secures US$500,000 to support the development of clean energy

Frank

NIGERIA – NIGERIA has secured a US$500,000 grant from the African Development Bank (AfDB) to support the development of clean energy in Nigeria. The grant was approved under the AfDB’s Sustainable Energy Fund for Africa (SEFA), according to a statement issued by the bank in September this year. The AfDB’s Sustainable Energy Fund for Africa is a multi-donor facility established to generate private sector investments in clean energy projects in Africa. AfDB Acting Vice-President for Power, Energy, Climate Change and Green Growth, Wale Shonibare, in the statement said the grant…

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