African Trade Insurance Agency invests in Malawi’s Salima Solar plant

MALAWI – The African Trade Insurance Agency (ATI), under its Regional Liquidity Support Facility (RLSF), has supported the Salima Solar PV plant, by providing a revolving liquidity guarantee that can be drawn following any payment delays by the national off-taker – Electricity Supply Corporation of Malawi Limited (ESCOM). This is the second project in the country to benefit from RLSF, the first project being Phase 1 of the Nkhotakota Solar Power Plant, with an initial installed capacity of 21MW. The 60MW Salima Solar PV plant, being one of the most…

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InfraCo Africa and RVE.SOL partner to install 22 solar mini-grids in Busia County, Kenya

KENYA – InfraCo Africa, an investment company of the Private Infrastructure Development Group (PIDG) and Rural Village Energy Solutions (RVE.SOL) have signed a shareholder agreement for the continuation of a rural electrification project using stand-alone solar systems in Busia County, Kenya. Rural Village Energy Solutions (RVE.SOL) previously held all the shares in KPEA. Under the agreement, the company that finances, builds and operates off-grid clean energy systems is 40% owned by InfraCo Africa. The funds injected by the investment company will be used to finance the expansion of KPEA in…

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State-owned company EDG to buy 40 MWp solar power from InfraCo Africa

GUINEA – The state-owned company Electricité de Guinée (EDG) has signed a power purchase agreement to buy power from 40 MWp Khoumagueli Solar Plant. The solar project is being developed by InfraCo Africa, a Private Infrastructure Development Group (PIDG) company and Solveo Energie, a renewable energy producer based in Fenouillet, France. InfraCo Africa is investing in the project through its contracted developer, Aldwych Africa Developments (AADL). The consortium has set up Khoumagueli Solar S.A., an ad hoc company to develop, build and operate the future 40 MWp facility. “The signing…

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Infrastructure credit guarantee InfraCredit secures US$27m equity investment from InfraCo Africa

NIGERIA – InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has completed an approximately US$27m equity investment into InfraCredit, a specialised local currency infrastructure credit guarantee institution based in Lagos, Nigeria. InfraCo Africa’s equity investment, made through its dedicated investment vehicle, makes InfraCo Africa an equivalent shareholder alongside the Nigeria Sovereign Investment Authority (NSIA) and Africa Finance Corporation. Gilles Vaes, CEO of InfraCo Africa, and Claire Jarratt, CIO of InfraCo Africa, will join InfraCredit’s Board of Directors. “Our equity investment in InfraCredit marks the first major transaction of…

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