A new fund established by the African Development Bank could attract $650 million of private money into the sector, according to the lender.
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.
The African Development Bank is seeking consultants to explore how two hydropower projects and an associated grid planned in Burundi can incorporate solar power. The addition of photovoltaics is intended to reduce the country’s dependency on hydro, level out generation during dry and wet seasons and mitigate the effect of droughts.
The South Sudan Electricity Corporation is seeking consultants to define the nation’s Renewable Energy Development Program and its related tender mechanism. The plan could put the world’s youngest country – which is in the grip of a long, brutal civil war – on a path to sustainability.