Redavia, which leases plug-and-play solar systems to commercial clients in Africa, secured the fresh credit line after settling a previous $2 million loan supplied by the EDFI ElectriFI European development finance institution.
Huawei Digital Power Technologies, a unit of Chinese multinational tech giant Huawei, recently signed a deal with Ghana-based solar developer Meinergy Technology to build a 1 GW solar plant coupled with 500 MWh of storage in Ghana over the next years. Under the terms of the deal, Huawei will supply solar-plus-storage systems for the project. Meinergy will be responsible for the development and construction of the facility. pv magazine recently spoke about the project with Kevin Wu, CEO of Meinergy, and Peter Acheampong, Deputy Director of Renewables for the Bui Power Authority, which owns the installation.
Huawei and Meinergy plan to build a facility that could end up being Africa’s largest solar-plus-storage project. Huawei will supply its storage tech for the installation.
A business based at a Namibian mine has signed a 15-year power purchase agreement which will back the construction of a 5.4MW solar project. Elsewhere, the AfDB wants to roll-out solar panels to provide electricity access to six million people across six nations over the next six years.
The closing day of the African Energy Week event held in South Africa this month heard voices casting doubt on a renewables-only energy transition and calling for a gradual change and continued investment in petrochemical production.
The move will encourage private sector renewables companies to be part of the national energy industry, a representative of the regulator told a recent webinar which considered how to accelerate clean energy roll-out in Africa.
With pressure mounting on the world’s governments to turn their back on the fossil fuel, China and peers in South East Asia, Europe and South Asia could help deliver a coal-free future at the COP26 climate summit planned in Glasgow in November.
Swedish platform Trine, which offers people the chance to invest in solar from as little as €25, has announced plans to generate €5 million credit for South African solar leasing partner Solarise Africa.
The latest global PV industry outlook published by trade group SolarPower Europe, has indicated tight supply of the solar panel raw material is expected to persist this year but the trade body said it would be unlikely to drive further price rises.
The private-sector arm of the World Bank says it will lend up to $150 million to Johannesburg-based Absa Bank for green project funding.
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