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.
UAE-based AlNowais Investments Company has been allowed to increase the size of its solar project in Kom Ombo from 200 to 500 MW. The facility will sell power to the Egyptian Electricity Transmission Company (EETC) under a long-term, bilateral PPA.
Half of the EGP1.6 billion charge will be paid up front with the balance staggered over five years, pv magazine has learned.
Researchers in Egypt have tested a new solar module cleaning technique for solar arrays in arid regions. They claim that the combination of nano-coatings with vibration mechanisms on the backs of modules can reduce manual cleaning requirements.
With the International Energy Agency publishing its latest five-year clean energy forecast today, pv magazine takes a look at the solar content of the 162-page document.
The 24-day, digital 2020 Africa Energy Forum kicked off on October 20. The event brings together African energy sector officials to identify opportunities, air their views, form partnerships, and take the necessary steps to improve the industry. For solar, challenges in policy making, procurement processes and the effects of the Covid-19 pandemic were discussed, as well as emerging trends such as solar digitalization.
Sources connected to developers at the site confirm the figure has been agreed with the Egyptian Electricity Transmission Company but said it was still subject to change. The utility is seeking raised contributions from renewables companies to cover what it says were rises in building material costs.
Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.
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