Amea Power begins construction on 1 GW/600 MWh solar-plus-storage plant in Egypt
According to the developers, the $700 million giant project will be Africa’s largest single-site hybrid renewable facility. Amea Power began construction before financing was completed.
Armenia’s largest solar plant comes online
Spain’s FRV has commissioned a 62 MW solar plant in Armenia under a long-term power purchase agreement (PPA) with Electrical Networks of Armenia CJSC. The project is the country’s biggest operational PV facility to date.
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.
Africa-focused solar fund raises $92.7 million
Rgreen Invest and Echosys Invest have raised €87.5 million ($92.7 million) through the Afrigreen Debt Impact Fund. They said they will use the money to finance on-grid and off-grid solar projects for small- and medium-sized commercial and industrial customers in Africa.
The weekend read: Central Asian solar on the rise
Utility-scale solar is stirring in the region, with support from development banks. Following a series of competitive auctions, PV projects have been commissioned and are under development in Uzbekistan and Kazakhstan. In the latter nation, corporate interest in distributed, small-scale renewables is growing but for further market uptake, additional incentives should be introduced, practitioners say.
Vietnamese government fears legal action from solar investors
The Vietnamese government is reportedly concerned about legal action from solar investors if its new power development plan does not prove ambitious enough.
IFC announces $150m credit line, with focus on African solar
Egypt’s Elsewedy Electric, which has developed solar and storage projects on its home continent, has secured a new financing package, according to International Finance Corp.
IFC boosts green lending in Poland
International Finance Corp. has underwritten potential credit losses on part of a $730 million loan book held by the Polish operations of Santander, freeing up finance to be issued for more green projects, including renewables.
Scatec brings containerized solar-plus-storage system to Cameroon
Two projects in the northern region of the African nation are set to bring 36 MW of solar and 20 MW/19 MWh of storage online, with the first facilities due to start generating within days.
