West Africa hogged more than twice as much investment as the east in a year which saw stock market backing plunge an ‘alarming’ 46%, leaving donor grant funding and debt to pick up the slack during a Covid-hit year, according to off-grid industry body GOGLA.
In a recent GOGLA discussion paper, 25 GOGLA members discussed the way forward on how end-user subsidies can be modeled to accelerate universal energy access in underserved markets.
The development lender has established a Covid-19 Off-Grid Recovery Platform with impact investors from the Netherlands, U.S. and U.K., to offer affordable loans to off-grid solar companies operating in Africa.
Offgrid solar expert GOGLA has just issued an E-waste Toolkit as part of its drive to establish a circular-powered renewable energy economy. Tying into the UP initiative’s Q4 circular manufacturing theme, pv magazine interviewed Drew Corbyn, GOGLA’s head of performance and investment, and the project manager in charge of the non-profit’s new e-waste management project.
The latest edition of the Global Off-grid Solar Market Report by the World Bank and GOGLA has called for regulatory and financial support to help off-grid distributors create jobs lost to the Covid-19 pandemic.
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.
Koen Peters has been the executive director of global offgrid solar association GOGLA since 2014. He has more than 20 years of international work experience, with more than 12 years in relation to energy access. He has gathered insights from many different perspectives and organizations, including government, consulting, startup businesses, and international finance organizations.
Benin has obtained a $21.1 million loan from the investment and development bank of the Economic Community of West African States and Burundi will benefit from a $160 million World Bank donation, $100 million of which will be dedicated to solar energy.
Industry body Gogla and the World Bank’s Lighting Global program said the last six months set a record for off-grid solar deployment. Solar home systems and other small off-grid appliances are being used in ever larger numbers.