Crossboundary Energy Access (CBEA) was established in January with large investment contributions from Rockefeller and Shell Foundations. The funding facility, which said it would work to unlock $11 billion in funding for the electrification of 100 million people in Africa, has penciled its first transaction with PowerGen Renewable Energy.
The African Development Bank is providing around $56 million to fund a program to bring electricity to around 900,000 households in sub-Saharan Africa by 2025. The financial institution will also provide African distributed energy service companies with critical technical guidance and credit enhancement.
Two corporate heavyweights have announced investments in the New York-based developer and operator of peer-to-peer energy platforms. The funding will allow LO3 to scale its blockchain-based community energy networks worldwide.
As one of the most energy-intensive industries, the ‘resource sector’ is getting serious about adding cheap solar and wind energy into its mix, to boost returns. Although still predominantly underpinned by gas or diesel, mine operations are increasingly deploying hybrid solutions, highlighting the potential of renewables – particularly as momentum builds for green hydrogen to play a role in future microgrids.
A public enterprise grade energy blockchain has powered up with the promise to accelerate a low-carbon, distributed electricity future. For the first time, energy sector companies are hosting validator nodes on a decentralized network as they seek to adapt to a more digitalized and decentralized energy system.
While market experts suggest solid-state battery technology will not play a significant role in the storage industry until 2025, one company may be leading the race. Blue Solutions, electrical energy storage award winner at The smarter E Europe in Munich, Germany, says it has developed the only commercialized solid-state lithium battery. pv magazine caught up with the company around the European trade show to discuss its award-winning technology and unique position in the market.
The German EPC contractor built the 1.9 MWh energy storage system for the automaker as part of a micro smart grid project on the EUREF Campus, a green innovation hub in Berlin.
The government of Haiti and the World Bank have put in place a financial instrument to provide access to capital for companies active in clean off-grid energy solutions. The aim is to power 200,000 households over 10 years.
The off-grid solar system supplier has received the finance in Rwandan francs to mitigate currency risk and expand operations in its biggest market.
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