The microgrid utility has raised enough capital from Shell New Energies to deploy systems across sub-Saharan Africa.
A World Bank presentation in London drew an encouraging picture for the Nigerian market by explaining why the mini grid segment will take off in the next 12 months.
The African Development Bank last year disclosed a plan to install 10 GW of solar in the deserts of the Sahel. A recent summit held in Burkina Faso may have brought the ambitious project a step closer.
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.
In July 2016 Nigeria signed power purchase agreements with 14 utility scale PV projects with a total generation capacity of 1,075 MW. None of the projects has reached financial close and pv magazine has learned the government wants to reduce the agreed tariffs.
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.
The Japanese conglomerate is leading a $26 million equity investment in Azuri Technologies, which provides pay-as-you-go solar home solutions to off-grid communities throughout sub-Saharan Africa.
A new report analyzing 10 solar markets throughout Africa claims that the continent’s PV market could expand from about 5 GW at present to up to 30 GW by the end of the next decade.
Crossboundary Energy Access – which claims to be the continent’s first mini-grid financing facility – wants to unlock $11 billion in private capital to bring energy to 100 million people in sub-Saharan Africa. Raising capital has been a struggle despite mini-grids being lauded as a solid solution for electrification.
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