World Bank

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.

MySol Grid Zambia, a subsidiary of Engie Energy Access (EEA), has secured $7.5 million of debt from the Facility for Energy Inclusion (FEI) to build 60 minigrids. The projects will provide electricity to more than 40,000 people in rural areas.

Solar is not only helping to keep the lights on in Ukraine – it also has a vital role as part of Europe’s energy transition and clean energy economy.

Buoyant predictions about a rosy future for African photovoltaics, based on the continent’s abundant solar resources, continue to overlook the difficulties of securing investment, as Empower New Energy co-founder and CEO Terje Osmundsen explains, referring to a report published by the Africa Solar Industry Association at the World Future Energy Summit in Abu Dhabi today.

While the climate summit held at Sharm El Sheikh last month prompted pledges of raised funding for solar lanterns and single-panel systems, the money allocated to date is woefully short of what has been estimated would be required to provide universal access to electricity this decade. Drew Corbyn of Netherlands-based global off-grid solar body GOGLA, outlines three urgent courses of action to accelerate access to electricity.

The first post-pandemic update on the state of the world’s off-grid solar industry has painted a picture of domination by European companies, but highlighted the potential for new startups in West Africa and an increasing use of PV as a backup to unreliable grid supplies.

The off-grid solar sector has shown resilience in the face of pandemic-related challenges, with 70 million people gaining access to electricity from early 2020 to the end of 2021. However, the ability to pay for solar energy kits has taken a hit.

Joules Power has said the $22 million PV project will be built on land which is submerged for most of the year and will breed fishes. The project is set to be completed in December 2023.

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.

The Nigerian state of Lagos and the World Bank have announced plans for 1 GW of rooftop PV by 2030.