The International Finance Corporation (IFC) and the government of Niger have announced that they will be developing up to 50MW of grid-connected solar power. The power generated will be equivalent to roughly 20% of the country’s installed capacity.
GreenCape have launched the latest Market Intelligence Reports which highlight investment opportunities in key sectors of the green economy.
Business and markets
The BUILD Fund has made its inaugural investment, setting up a $500,000 working capital facility for Kenyan distributor of solar products, Mwezi, which concentrates on last mile energy access measures.
The World Bank Board of Executive Directors has approved $200million in International Development Association (IDA) funding for Benin to improve access to electricity services for households, businesses and basic public services.
The Africa Renewable Energy Fund II (AREF II) has raised $180 million from seven investors. The fund, managed by Berkeley Energy, will finance renewable energy in sub-Saharan Africa.
Madagascar’s state utility Jirama has announced plans to extend the capacity of Ambatolampy solar PV power plant as well as add battery storage.
Finance and Policy
Despite a historic decline of 4% in primary energy demand as the COVID-19 pandemic ravaged the world’s economies, polluting G20 countries barely met and still missed their unambitious renewable energy targets.
Finance and Policy
The South African Photovoltaic Industry Association (SAPVIA) has endorsed last week’s announcement by the South African president to raise the licensing threshold for embedded generation plants to 100MW.
The Board of Directors of the African Development Bank (AfDB) have approved an $116 million loan to fund the second phase of Egypt’s Electricity and Green Growth Support Program. This programme seeks to enhance the power sector’s financial sustainability, governance and operations.