Rockefeller and Ikea foundations pledge $1bn for small scale renewables
With ‘shovel-ready’ projects across India, Africa and Latin America in line for a mix of grants, cheap loans, equity investment and financial guarantees from this year, the two bodies hope to trigger $20 billion in total funding and bring reliable power to a billion people.
Finance for 49 mini-grids in Sierra Leone and Uganda
Winch Energy has announced the project, which it hopes will be a significant bridgehead towards building $100 million worth of off-grid systems within two years, alongside Franco-Japanese partner Neot Offgrid Africa.
Crossboundary offers up its mini grids business model for African peers to benefit
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.
Off-grid solar funding concentrated in just three companies
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 emerging as best bet for West Africa’s future energy mix
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.
PowerGen closes funding for electricity access for a million people
The microgrid utility has raised enough capital from Shell New Energies to deploy systems across sub-Saharan Africa.
Ivory Coast moves forward with first solar park
The 25 MW project is planned for the town of Benguébougou, in the Korhogo department, in the north of the west African nation.
Sierra Leone begins construction on its first solar park
The 6 MW Solar Park Freetown will be built with the support of the Abu Dhabi Fund for Development (ADFD).
Rapper Akon lights up Africa with solar
Akon, the platinum-selling rapper, is lighting up Africa with solar lighting and other products thanks to a reported $1 billion credit line with Chinese manufacturers and a skill for celebrity networking.
Solar Era seeks EPC for 5 MW in Sierra Leone
The project is the first phase of a 25 MW hybrid PV-thermal project that will be located near Bo, the second largest city in the country.
