Inspiring Sustainable Business in Africa
AFRICA – d.light, a financer of residential solar energy solutions and transformational household products, has announced the appointment of Nick Imudia as its new Chief Executive Officer. With over two decades of experience scaling complex organizations, Mr. Imudia brings a high level of Africa expertise to d.light as the social impact company enters a new chapter of growth. Current CEO…
Read More
KENYA – KCB Bank Kenya, a financial service, and BasiGo Ltd, Kenyan electric vehicle start-up, have announced a partnership that will see customers access financing to buy electric buses. KCB customers will be able to access financing to buy BasiGo electric buses. KCB SAHL Banking customers, who under the Shariah-compliant banking model, will also be able to purchase the electric…
Read More
MALAWI – The US International Development Corporation (DFC) has committed to a US$25 million loan for Golomoti Solar, expanding renewable energy generation and storage in Malawi. The DFC’s Chief Executive Officer Scott Nathan signed a commitment letter for a US$25 million loan to support the Golomoti Solar project, a 20MW solar photovoltaic power plant and 5MW/10MWh battery energy storage system…
Read More
AFRICA – Empower New Energy, a Norwegian solar development and investment company, has signed an agreement to raise US$74 million from a consortium led by Climate Fund Managers to develop solar projects in the Africa Commercial and industrial (C&I) sector. The partnership will develop, finance, own and operate an initial 150MW of solar projects over the next three years. Norfund…
Read More
DRC – InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed an agreement with Equatorial Power (EP), committing US$1.7 million to scale the company’s innovative mini-grid model in the Democratic Republic of the Congo (DRC) and Rwanda. The project will see the companies co-develop four new mini-grids and four agri-processing hubs (APHs) on Idjwi Island, DRC, followed…
Read More
NIGERIA – CrossBoundary Energy Access Nigeria (CBEA) and ENGIE Energy Access Nigeria (ENGIE) have announced a project finance agreement to build a US$60 million portfolio of mini-grids that will connect over 150,000 people to electricity in Nigeria. ENGIE has developed a pipeline of mini-grids to build over the next four years. As part of the agreement, CBEA will finance all…
Read More
SOUTH AFRICA – Royal Dutch Shell, a multinational oil & gas company is set to purchase African solar provider, Daystar Power, as it expands its global renewables footprint and seeks to work towards its carbon emission reduction policy. Shell is one of the most influential oil producers in Africa, but the Daystar purchase is its first power acquisition on the…
Read More
SOUTH AFRICA – Independent Power Producer (IPP) EDF Renewables, a subsidiary of the Electricité de France (EDF) group, has signed power purchase agreements (PPAs) for Koruson 1 projects, a set of three wind farms in South Africa. As a result, EDF Renewables has signed power purchase agreements with the South African Department of Energy and Mineral Resources in Pretoria. The…
Read More
SOUTH AFRICA – Renewable energy services provider, Starsight Energy, and South African-based solar firm, SolarAfrica Energy, have announced their merger agreement. This merger makes them one of the continent’s leading solar players with a genuine pan-African footprint to provide competitive, full-service renewable energy and energy efficiency solutions to the C&I sector The merger, which is subject to standard regulatory approvals…
Read More
BOTSWANA – Renewable energy solutions provider Scatec and the Botswana Power Corporation (BPC) have signed a binding 25-year power purchase agreement (PPA) for the construction of a solar photovoltaic (PV) facility with a contracted capacity of 50 MW at Selebi Phikwe. Scatec owns 100% of the project and will be the designated engineering, procurement and construction company, asset manager, and…
Read More