International Finance Corporation

Ethiopia has concluded the tender process for the first round of its Scaling Solar program. The winning bid is the lowest in the continent to date, according to the finance ministry.

A €38 million loan will be provided by Proparco, the International Finance Corporation and the European Investment Bank. A PV plant in Tauba will sell power for €0.0380/kWh and a second facility in Kahone which will sell electricity for €0.0398.

The 21st Africa Energy Forum, this year in Lisbon, kicked off yesterday and will run until Friday. The meeting offers an insight into the continent’s energy markets.

A government ministry reportedly announced 16 operational solar plants with a total capacity of 780 MW have been connected, along with three more projects that are expected to bring another 150 MW of capacity online this month.

Developers have until May 29 to register for the first stage of the process to procure four solar projects. With work under way on the second round of the IFC’s Scaling Solar program in the nation, 12 bidders have been identified to compete for the two projects previously offered under the initiative.

World Bank Group member the IFC has signed an agreement to implement tendered projects with the Egyptian Electricity Transmission Company. The tender for the solar complex was launched at the end of 2017.

By 2050, energy use for cooling is projected to triple, according to the World Bank. And by 2050, demand for cooling in countries such as India, China, Brazil and Indonesia will grow fivefold, putting pressure on already strained energy systems and hampering efforts to curb climate change.

The association that represents developers operating at the 1,465 MW solar project in Egypt – due for completion in June – say they have been told nothing about a rumored rise in investment costs caused by more expensive construction materials.

World Bank sister organization the IFC has made a $75 million commitment to a green bond recently issued by Philippines based developer AC Energy. Vietnam’s sub-standard financial sector performance has prompted the Asian Development Bank to suggest green bonds could best leverage the country’s renewable energy targets.

State-owned energy company Uzbekenergo has issued a request for pre-qualification for the projects, planned for the Navoiy region in southwestern Uzbekistan. The tender process is expected to be finalized by the end of June.