Inspiring Sustainable Business in Africa
EGYPT – Lafarge Egypt, part of cement giant Holcim Ltd, has signed a US$93 million deal with Lumika Renewables to offtake electricity from a solar park. Lumika Renewables is a joint venture of South Africa-based industrial group Reunert and A.P. Moller Capital. The joint business was created in 2021 to develop a portfolio of cost-efficient, renewable energy solutions for commercial…
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SOUTH AFRICA – SolarWorld Africa, an importer and distributor of solar products, has partnered with European manufacturer of solar cells and modules Meyer Burger Technology, to bring renewable energy solutions to Southern Africa. Switzerland-headquartered Meyer Burger is primarily known for its production facilities in the photovoltaic industry. The company develops and produces systems with which solar cells can be manufactured…
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BENIN – Social impact investor Oikocredit is providing long-term project financing to Weziza Benin, an off-grid distributed energy enterprise, to connect 40,000 people in rural Benin to solar electricity. With the funding, Weziza Benin will provide 21 rural communities with clean, affordable, and reliable electricity generated through renewable energy systems designed as solar photo voltaic-powered mini-grids. The project has been…
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NIGERIA – Westa.solar, a leading provider of solar power solutions to commercial and industrial companies in West Africa has secured US$1.58 million mezzanine loan to develop solar projects in Nigeria. The loan has been provided by the Development Bank of Austria (OeEB) provided by the African-Austrian SME Investment Facility (AAIF) of the Federal Ministry of Finance. The fund will allow…
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AFRICA – Sun King, a solar home systems provider, has closed a US$260 million funding round to expand its operations in Asia and Africa. The funding raised from several investors will help accelerate rural electrification in Asia and sub-Saharan Africa. This is one of the largest deals in the solar home systems segment in the world, and in Africa in…
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MOROCCO – French renewable power plants operator, Voltalia has been awarded a contract to develop two photovoltaic (PV) solar plants with a combined total capacity of 117MW in Morocco. The contracts have been awarded under the competitive tendering process for the Noor 2 PV Program which will see Voltalia develop a 69 MW plant in Ain Beni Mathat and a…
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TANZANIA – TotalEnergies Marketing Tanzania Limited officially launched its new identity and the first solarized service station, TotalEnergies Samora service station. The station makes TotalEnergies the first and only Oil Marketing Company in Tanzania with solarized service stations. To meet the company’s ambition, TotalEnergies Marketing Tanzania Limited launched its first solarized service station in Dar es salaam Tanzania, TotalEnergies Samora…
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MOROCCO – Dubai-based AMEA Power has won a contract to build two solar power plants in Morocco as the North African country continues to boost its renewables portfolio. The solar projects are part of a large international tender launched by the Moroccan Agency for Sustainable Energy (Masen) and the Ministry of Energy Transition and Sustainable Development. The company tends to…
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SIERRA LEONE – West African solar energy solutions provider, Easy Solar has secured a US$5 million local currency credit facility from the Energy Inclusion Facility’s Off-Grid Energy Access Fund (EIF OGEF). The credit facility provides primarily secured financing to support the growth of innovative off-grid energy companies. Managed by Lion’s Head Global Partners (LHGP), the fund is part of the…
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BURKINA FASO – The Beyond the Grid Fund for Africa (BGFA) is providing US$2.5 million in funding to Oolu for distribution of solar kits in Burkina Faso. Oolu Solar is one of the fastest-growing off-grid solar companies in West Africa that provides energy solutions and innovative services which improve the lives of communities and in the region. The BGFA funding…
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