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.
With Chinese manufacturers having warned they will pass on escalating component costs, and shipping expenses soaring since last summer, the rising price of solar is forcing some installers to redraft quotes, pv magazine has discovered.
The Kenyan financial services business has been developing rural mini grids across Africa and has announced plans to show its rivals how such networks can thrive, in a bid to accelerate access to electricity on the continent.
The first 5 MW portion of the large floating power plant was connected to the transmission system of a 404 MW hydropower dam on the Black Volta River.
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.
Solar support is on the way for businesses and communities struggling to cope as the coronavirus outbreak ripples across the continent.
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