African solar looks beyond donor nations for investment
Multilateral organizations the World Bank and African Development Bank (AfDB) have played a key role in the development of African solar and want to attract more private capital to a continent with at least 40% of the world’s solar irradiation but currently only 1% of its PV generation capacity.
Egyptian solar set to expand beyond the massive 1.8 GW Benban PV project
In this edition of the Weekend Read, we turn to Egypt. The gigawatt-scale Benban project showcases the North African country’s solar potential, and premium prices for gas exports make the case for a more diverse energy mix. A nation with grand renewables targets – but slow installation rates – may finally be weaning itself off fossil fuel resources.
African utility secures cash for floating solar studies
Electricidade de Moçambique (EDM) will obtain $2.5 million from the African Development Bank (AfDB) to fund studies into floating solar and battery systems.
AfDB announces cheap loans to back off-grid solar in Africa
The African Development Bank has announced that European and US donors will provide $20 million of concessional loans to support pay-as-you-go solar companies in sub-Saharan Africa.
Desert to Power secures $300 million of public money
Private Infrastructure Development Group recently made a non-binding commitment in Brussels to a provide funds for a project that aims to bring 10 GW of solar to Africa’s Sahel region.
African Development Bank offers local-currency credit to Nigeria’s clean power developers
Lack of locally-denominated finance, and of sufficiently long-term loans, are well established hurdles to the development of photovoltaics in Africa.
Zinc miner goes solar as African Development Bank pushes off-grid finance
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.
Africa’s winners and losers in the bid to go solar
While East Africa – and Kenya is particular – has made great strides in the provision of off-grid solar systems, Central Africa is a long way behind, according to a new report from IRENA and the African Development Bank. In terms of investment, the study’s authors wrote, much, much more will be required to achieve universal electricity access this decade.
Chad’s first solar-plus-storage project secures funding
The development entity driving the first stage of a planned 60 MW solar plant has announced a doubling in the amount of borrowing secured for a project which was supposed to be operational in 2018.
Biden administration aims to ramp up climate change funding for Africa
A webinar held to discuss the role of donor funding in the African energy sector was told the U.S. president has ambitious plans to ramp up donations to developing economies – provided he can get Congress on side.
