Dubai funding commitments demonstrate rise of corporate solar
Two Emirati developers are celebrating landmark deals with a commercial and industrial focus as Yellow Door Energy secures $65 million to expand operations into new markets and Adenium – one of Yellow Door’s backers – prepares to operate the region’s first industrial self-consumption and net metering project.
First EBRD-financed slice of Benban project comes online
The 30 MW plant was developed by a consortium led by Infinity Solar Energy SAE – an Egyptian developer operating in Africa and the Middle East – with Germay’s ib vogt, investment vehicle MMID and private equity firm BPE Partners.
64 MW project connected at Benban
Alcazar Energy has announced the start of commercial operation for a project at Benban, in Egypt. Alcazar says it is the first of more than 30 planned projects in the second round of the mammoth solar park to achieve grid connection, and one of four similar sized projects the company is working on at the site.
Ethiopia launches a tender for 800 MW of solar across four states
The nation’s Ministry of Finance is tendering six large-scale projects in Afar, Somali, Oromia and Tigray. The plants will be developed under a public-private partnership framework and their construction is expected to raise around $795 million.
International investors provide $34 million for solar plant in Zambia
The Ngonye project proposed by Italian energy giant Enel Group and Zambia’s Industrial Development Corporation, will be financially underpinned by senior loans of up to $10 million from the International Finance Corporation, up to $12 million from IFC-Canada Climate Change Program and up to $11.75 million from the European Investment Bank.
