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Top 10 solar projects in Africa
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Norfund and KLP to invest USD in CrossBoundary Energy
According to a July 2022 press release, the Norwegian Investment Fund for Developing Countries (Norfund) and Norway’s largest pension company, KLP, will jointly invest USD 40 million in equity in CrossBoundary Energy (CBE) to help the company expand its renewable energy solutions for businesses in Africa.
US government approves $5 million grant to support the fight against methane gas emissions in Africa
According to an African Development Bank (AfDB) September 2022 press release, the US government, through its special envoy, John Kerry, has announced that it is supporting the African Development Bank in its fight against methane emissions across the continent with a $5 million grant.
Eskom and the South African Renewable Energy Technology Centre (SARETEC) sign MOA
According to an Eskom August 2022 press release, Eskom is partnering with the South African Renewable Energy Technology Centre (SARETEC) by signing a Memorandum of Agreement (MOA) that outlines their joint intention to work together with the aim of developing artisanal renewable energy skills in South Africa.
Is Egypt open for business or is foreign investment scuppered?
Egypt is most certainly open for foreign investment. As part of the country’s attempts to boost foreign investment, the Egyptian government recently announced that it has granted a special golden licence to foreign investments in specific industries.
British International Investment, Standard Bank and H1 Holdings back a South African renewable energy technology project
According to a July 2022 press release, British International Investment (BII), Standard Bank, and H1 Holdings are backing a $1 billion renewable energy technology project in South Africa.
Norfund and KLP to invest USD in CrossBoundary Energy
According to a July 2022 press release, the Norwegian Investment Fund for Developing Countries (Norfund) and Norway’s largest pension company, KLP, will jointly invest USD 40 million in equity in CrossBoundary Energy (CBE) to help the company expand its renewable energy solutions for businesses in Africa.
Infinity Group and Africa Finance Corporation to acquire Lekela Power
According to a July 2022 press release, the Infinity Group and Africa Finance Corporation (AFC) will acquire Lekela Power. Lekela Power is Africa’s largest independent renewable energy producer, with a portfolio of 2.8 GW of projects across Africa.
Rwandan Community Abroad and MTN Rwanda connect 1700 households to electricity
The Rwandan Community Abroad (RCA) and MTN Rwanda connect 1700 additional households to electricity.
Zimbabwe receives 175 MVA transformer
Zimbabwe has successfully taken delivery of a 175 MVA transformer which will significantly improve the quality and reliability of power supply in the region.
BII and Norfund invest ZAR 600 million in renewable energy development SA
British International Investment and Norfund will invest ZAR 600 million in H1 Capital to develop renewable energy in South Africa.
South Africa released Phase 1 of the National Infrastructure Plan 2050
South Africa’s ministry of Public Works released phase 1 of the National Infrastructure plan 2050. Deteriorating infrastructure, widespread damage from devastating floods and poverty are some of the issues being addressed
UNESCO launches a $45 million renewable project in Zimbabwe
A new USD 45 million renewable energy project for Zimbabwe is scheduled to start this month and run for four years
DBSA announced the first debt drawdown for Redstone CSP
The Development Bank of Southern Africa has announced that the Redstone Concentrated Solar Power Project has completed its first debt drawdown.
Eskom plans to add 4 GW of renewable power to the national grid
Eskom has launched a request for a proposal to lease land to add an estimated 4,000 MW of new renewable generation capacity to the national grid.
“Desert to Power” project receives a $5.5 million grant to fund phase 2
Half of the 340 million people living in the Sahel region do not have access to electricity. The African Development Bank’s “Desert to Power” initiative aims to provide electricity to 250 million people.
A $25 Million Nationwide Renewable Cooking Fuel Utility in Rwanda
The Rwanda Development Board reported that the Rwandan government signed an agreement with KOKO Networks to develop a $25 million nationwide renewable cooking fuel utility
Chinese funding dominated Africa’s project market in 2021
Despite disruptions of the COVID-19 pandemic, Africa started construction on more than $160 billion worth of projects in 2021. The Export-Import Bank of China is funding projects worth more than $15 billion that started construction work in 2021.
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