AfDB secures US$115m from German government for its SEFA projects

AFRICA – The German government will contribute €100 million (US$115.83m) to the African Development Bank’s Sustainable Energy Fund for Africa (SEFA), affirming its commitment to efforts to tap Africa’s renewable energy potential and drive its transition to clean energy sources. The funding will go to unlock private sector investment in green-baseload projects, a SEFA priority focus. Specifically, it will support…

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German solar company Ecoligo acquires Namene Solar West Africa

GHANA – Ecoligo, a German solar utility that provides low-cost solar energy to local businesses in emerging markets, has announced the acquisition of the solar power projects for commercial and industrial customers (C&I) of Namene Solar West Africa. The company remains a wholly owned subsidiary of the Namene Group. There is movement around the commercial and industrial (C&I) solar power…

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Egypt, German sign US$70m financing agreement grant for six projects

EGYPT – The government of Egypt and Germany have signed €57.7 million (US$70.29m) development financing agreement grant with the plan of implementing six projects in different sectors. Egypt’s Minister of International Cooperation Rania Al-Mashat signed the agreement with German Ambassador in Cairo Cyrill Nunn. This comes within the framework of the 2019 Financial and Technical Cooperation agreements signed between the…

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