The private-sector arm of the World Bank, which claims to leverage $3 of its own capital and $8 from third parties for every dollar invested in its blended finance funds, has attempted to quantify what devoting Covid recovery funds to green investment would mean for emerging economies.
Covid-19 rescue measures such as delaying electricity bill payments pile added pressure onto energy companies already hit by pandemic-related falls in demand in a continent which a new study suggests is too dependent on donor aid for the development of renewables.
With a previous 50-50 split between equity and debt investment funding for the off-grid market lurching to 84% borrowing, and commentators stating most of this year’s backing was agreed before the onset of Covid-19, fears are mounting about the prospects for the sector.
The Economic Community of West African States should prioritize the development of solar PV to meet surging energy demand over the next 30 years, according to a newly published study.
The African country has joined the World Bank’s Scaling Solar Program. Two PV plants will be located in Touba and Laboa, in the northeast of the country.
PEG Africa, a company offering pay-as-you-go solar to consumers and businesses in West Africa has received a $5 million investment from European Union initiative ElectriFi. The company says it has now secured more than $50 million and plans a major expansion.
The solar home system company, which enables customers to pay their solar electricity bill through an app on their mobile on a PAYG basis, has conducted a monumental funding round as it eyes expansion to become a fully-fledged pay-as-you-go utility.
pv magazine caught up with the chief exec of the pay-as-you-go solar home system provider to get his thoughts on the claim mini and microgrid business models don’t stack up and the suggestion government-driven utility scale solar should light the way in the sub-Saharan marketplace.
This time, the countries revealing their first floating PV plans are Albania and the Ivory Cost. In the first, a 12.9 MW plant is being proposed by local hydropower producer KESH, while in the second, the local government has secured funds for what it claims will be Africa’s first floating PV array.
According to the agency, a mimimum of 8 GW of solar will be deployed across the 15 countries that comprise the Economic Community of West African States (Ecowas) by the end of the next decade. Nigeria, Ghana and Côte d’Ivoire will lead the future growth of PV in the region.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.