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.
IFC opens $1.8m credit line to get big DR Congo project over the line
A 100 MWac solar farm planned in the Katanga region will be boosted by an additional credit line after the International Finance Corporation and the British and Norwegian government-owned Globeleq came on board.
Niger joins the Scaling Solar club
The government wants 30% of its power from clean energy sources by 2035 and the 50 MW of solar targeted by the World Bank would make up two-thirds of that ambition.
Romania sees first green bonds
World Bank arm the International Finance Corp has now extended almost €76 million of credit into two sustainable lending facilities launched via Raiffeisen Bank.
