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.
African utilities wary of threat from renewables
The rise of clean energy and prosumers, net metering and greenhouse gas regulation all figure among the bogeymen as far as national electric companies are concerned.
Kenyan government blamed for sluggish progress of solar
Two solar farms with 80 MW of generation capacity tendered in 2017 are being built and will be commissioned this year but another two, allocated at the same time, are no nearer construction. Kenya, however, has been touted as the site of Africa’s first wind-solar-storage hybrid project.
Solarcentury chief calls for policy support for UK solar on day Boris Johnson is anointed
The London-based developer revealed blockbusting annual figures which show it is debt free, has almost £20 million in the bank, raked in more than half that figure in net profits in 2018-19 and expects twice as much in a year’s time.
Engie finishes minigrid, expands PV home system business in Zambia
French power group Engie has started up its first minigrid installation in Zambia, while also announcing plans to expand Fenix, its PV home system unit for the African market. It did not disclose the specifications or size of the minigrid system.
Shell Foundation and Rockefeller support $11bn African mini-grids fund
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.
Zambia issues RfP for 100 MW of solar
Via the tender, selected developers will be awarded 25-year PPAs for the sale of power to local utility, ZESCO.
Zambia seeks further financing for its 100 MW PV project pipeline
The African Development Bank is currently seeking consultants to arrange debt financing for five 20 MW projects it aims to develop under Zambia’s Renewable Energy Financing Framework.
International investors provide $34 million for solar plant in Zambia
The Ngonye project proposed by Italian energy giant Enel Group and Zambia’s Industrial Development Corporation, will be financially underpinned by senior loans of up to $10 million from the International Finance Corporation, up to $12 million from IFC-Canada Climate Change Program and up to $11.75 million from the European Investment Bank.
Over $50 million funding approved for solar projects in Zambia
The Green Climate Fund (GCF) has approved over US$50 million in funding for the development of up to 100 MW of renewable energy projects, primarily solar, in Zambia.
