Fortis Green Renewables holds initial close at US$6m

AFRICA – Fortis Green Renewables Investment Management, an investment firm providing capital to small-scale renewable energy assets in Sub-Saharan Africa, has recently held the initial close in its Green Fund I. The Fund is raising capital from American individuals, family offices, and wealth management firms. The Fund raised US$6 million thus far and was aiming to raise US$10 million by end of August 2021, according to Jonathan Shafer, Managing Director and Co-founder. Overall, the Fund is targeting US$20 million. Green Fund I was formed to invest equity and equity-like capital…

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KfW launches US$237m financing initiative for green-hydrogen program in South Africa

SOUTH AFRICA – KfW Development Bank, a German state-owned investment and development bank, on behalf of the government, has launched a concessional financing initiative seeking to catalyse the development of a green hydrogen economy in South Africa. The request for information (RFI) has been issued by the Council for Scientific and Industrial Research (CSIR) and Meridian Economics on behalf of German development bank KfW, which has set aside up to €200 million (US$237.1 million) in concessional financing on behalf of the German government for the initiative. Information is being sought on project opportunities covering…

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Tanzania’s TANESCO to buy 19.16MW green power from IPPs

TANZANIA – Six Independent Power Producers (IPPs) which are developing renewable energy projects in Tanzania, have concluded power purchase agreements with the Tanzania Electric Supply Company (TANESCO) for 19.16 MW under the supervision of the Energy and Water Regulatory Authority (EWURA). Among the selected IPPs is Nishati Lutheran Investment, which is implementing a 36-kW hydro-power project at the Ijangala Falls in Makete. Madope Hydro which is implementing the 1.7 MW Madope Hydroelectric Project on the Madope River while Luponde Hydro is also signing a Power Purchase Agreement (PPA) with TANESCO…

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FMO signs US$598k convertible note to ZIZ Energie to improve green energy access

CHAD – FMO, a Dutch Entrepreneurial Development Bank, has signed an €500,000 (US$598,280) convertible note through its Ventures Program to ZIZ Energie (ZIZ), a privately-owned integrated power company in Chad. The investment is part of a €2 million (US$2.39m) convertible round in a co-investment with Energy Access Ventures (EAV) and marks the start of a larger investment round that aims to allow ZIZ to scale its operations and improve green energy access to households and smaller businesses in secondary towns across the country. ZIZ was established in 2006 by Chadian…

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