Lake Victoria’s passenger transport Waterbus secures US$3.8m from Infraco

EAST AFRICA – InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a Shareholders’ Agreement with Globology, committing US$3.8 million through its dedicated investment arm, to support the expansion of the company’s Waterbus passenger transport operations on Lake Victoria. Waterbus is the first passenger-focused service to deliver scheduled ferry routes on the Lake, currently operating two 132-seater…

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EkoRent and Strathmore University join hands to expand access to solar charging for EVs in Nairobi

KENYA – EkoRent Africa (EkoRent), a business supported by  Private Infrastructure Development Group (PIDG) company InfraCo Africa and EEP Africa, a clean energy financing facility, has signed a Solar Charging Project Collaboration Agreement with Strathmore Energy Research Centre through Strathmore Research and Consultancy Centre, establishing a framework for setting up Kenya’s first Nopea SolarHub Electric Vehicle Charging Station. EkoRent operates NopeaRide, an all-electric taxi-hailing service in the city…

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JCM Power begins construction of 20MW solar power park in Malawi

MALAWI – Investment Fund for Developing Countries (IFU), a development financial institution owned by the Government of Denmark through one of its portfolio companies, JCM Power Corporation (JCM Power), has started the construction of a 20-megawatt PV solar power park in Golomoti village, around 100 kilometers from the capital Lilongwe in Malawi. This is the company’s second solar power park…

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InfraCo, DOB and Mobility54 invest in Zembo’s Electric Motorcycles

UGANDA – Investment firm InfraCo Africa has partnered with Dutch investor DOB Equity and Mobility 54 to invest €3 million (US$ 3.43m) in Zembo Motorcycles SMC’s electric mobility solution, to improve its operations. InfraCo Africa continues to roll out its green finance in Africa. The Private Infrastructure Development Group (PIDG) investment company is entering into an agreement with DOB Equity,…

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African Trade Insurance Agency invests in Malawi’s Salima Solar plant

MALAWI – The African Trade Insurance Agency (ATI), under its Regional Liquidity Support Facility (RLSF), has supported the Salima Solar PV plant, by providing a revolving liquidity guarantee that can be drawn following any payment delays by the national off-taker – Electricity Supply Corporation of Malawi Limited (ESCOM). This is the second project in the country to benefit from RLSF,…

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InfraCo Africa partners with fund manager Cardano Development to develop credit enhancement facility in Kenya

KENYA – InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a Joint Development Agreement (JDA) with Cardano Development (CD), an incubator and fund manager committing up to US$1 million to the development of a credit enhancement facility in Kenya. The investment is being made through the company’s dedicated investment vehicle which is backed by the UK Government’s…

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Malawi to construct its first solar-plus storage project

MALAWI – The government of Malawi, in collaboration with Sungrow, JCM Power, InfraCo Africa, RINA and Innovate UK, will construct its first solar-plus storage project, a first in Sub-Saharan Africa. Located in the Dedza district of Malawi near the town of Golomoti, the 20MWac solar PV and 5MW/10MWh energy storage project is set to become a leading project in sub-Saharan Africa in…

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Energy firm GreenCo floats tender for 40MWp solar plant in Zambia

ZAMBIA – Energy provider GreenCo Power Services, a subsidiary of Africa GreenCo Group, is launching the pre-qualification process for the selection of an independent power producer (IPP) that will build a solar photovoltaic power plant with a capacity ranging from 10 to 40 MWp. Interested IPPs have until March 21st, 2021 to apply. This comes after Africa GreenCo’s subsidiary was…

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InfraCo Africa to finance construction of Golomoti solar project in Malawi

MALAWI – Sub -Sahara infrastructure fund InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), and its project partner, JCM Power (JCM), have announced their commitment to finance construction of the 20MWAC Golomoti Solar project with a 5MW/10MWh lithium-ion battery energy storage system (BESS) in Malawi. Golomoti Solar will be the first commercial-scale solar photovoltaic plant in Malawi to…

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InfraCo Africa becomes anchor investor in Acorn Holding’s US$10m REIT

KENYA – InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has subscribed to the Acorn Holdings Ltd (Acorn) Real Estate Investment Trust (REIT) by investing US$10 million enable Acorn to scale its business. The investment will help build the company’s track record of delivering purpose-built student housing in Kenya and helping to mobilise local capital markets. “This subscription marks our first…

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