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 partners with fund manager Cardano Development to develop credit enhancement facility in Kenya

KENYA – InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a Joint Development Agreement (JDA) with Cardano Development (CD), an incubator and fund manager committing up to US$1 million to the development of a credit enhancement facility in Kenya. The investment is being made through the company’s dedicated investment vehicle which is backed by the UK Government’s Foreign Commonwealth and Development Office (FCDO). The facility will be designed to unlock local currency investment from institutional investors and once established, is expected to support infrastructure development across a…

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Malawi to construct its first solar-plus storage project

MALAWI – The government of Malawi, in collaboration with Sungrow, JCM Power, InfraCo Africa, RINA and Innovate UK, will construct its first solar-plus storage project, a first in Sub-Saharan Africa. Located in the Dedza district of Malawi near the town of Golomoti, the 20MWac solar PV and 5MW/10MWh energy storage project is set to become a leading project in sub-Saharan Africa in demonstrating the value of solar PV coupled with energy storage. The project will fully adopt Sungrow’s one-stop solar-plus-storage MV solution comprised of PV inverter, MV station, all-in-one Power Conversion System,…

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Energy firm GreenCo floats tender for 40MWp solar plant in Zambia

ZAMBIA – Energy provider GreenCo Power Services, a subsidiary of Africa GreenCo Group, is launching the pre-qualification process for the selection of an independent power producer (IPP) that will build a solar photovoltaic power plant with a capacity ranging from 10 to 40 MWp. Interested IPPs have until March 21st, 2021 to apply. This comes after Africa GreenCo’s subsidiary was given the go-ahead by the Zambian authorities to play a major role in Zambia’s electricity sector, along with the state-owned Zambia Electricity Supply Corporation (ZESCO). Unlike ZESCO, which distributes electricity…

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InfraCo Africa to finance construction of Golomoti solar project in Malawi

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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InfraCo Africa becomes anchor investor in Acorn Holding’s US$10m REIT

KENYA – InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has subscribed to the Acorn Holdings Ltd (Acorn) Real Estate Investment Trust (REIT) by investing US$10 million enable Acorn to scale its business. The investment will help build the company’s track record of delivering purpose-built student housing in Kenya and helping to mobilise local capital markets. “This subscription marks our first investment into affordable housing, and I am delighted to take this step with Acorn, a well-respected developer of high quality student accommodation,” InfraCo Africa’s CEO, Gilles Vaes noted. “Expanding Acorn’s…

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InfraCo partners GLS to construct commercial warehousing facility and operations

LIBERIA – InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), and Global Logistics Services (GLS) have signed an Engineering, Procurement and Construction (EPC) contract with Liberian contractor, BMC Group, to enable construction to commence on the Liberia Inland Storage Facility (LISF) project. InfraCo Africa will be the majority shareholder in the project which will develop Liberia’s first open-access commercial warehousing facility and operations. LISF is being developed by InfraCo Africa, with CPCS Transcom (CPCS) acting on their behalf, in partnership with Liberian logistics company GLS Group. “The LISF…

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