Standard Bank, Citi, Norfund and CDC Group partner to fund US$75m sustainability-linked facility in Kenya

KENYA – Standard Bank Group, Citi, CDC Group and Norfund have partnered to provide a US$75 million Sustainable Finance Facility for Greenlight Planet Kenya. The landmark facility is one of the first sustainability-linked deals in Kenya, and one of the largest syndicated sustainable finance deals in the region to be provided in local currency. The transaction will allow Greenlight Planet to expand access to off-grid solar solutions to off-grid communities throughout Kenya and support its ambitions to reach an additional 10 million households globally in the next 5 years by…

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Renewvia Energy secures US$10m from Claritas Capital to accelerate its growth in the US and Africa

AFRICA – Renewvia Energy, a global solar developer with operations in the US and Africa, has received US$10 million from Claritas Capital to accelerate its growth across the globe in multiple solar development sectors. Renewvia, a mini-grid utility and commercial solar developer, provides reliable, affordable, and clean energy sources to individuals and small businesses in multiple countries in Sub-Saharan Africa. Trey Jarrard, Chief Executive Officer, Renewvia Energy said: “Partnering with Claritas aggressively advances Renewvia’s mission of creating value for our commercial clients and increasing quality of life to more people…

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Imperial and Sasol ink pact to co-develop hydrogen mobility ecosystem

SOUTH AFRICA – Imperial Logistics (Imperial) and Sasol South Africa (Sasol) have entered into an agreement to collaborate in exploring options and solutions for improving freight sustainability and efficiency in Southern Africa. The two companies will also be evaluating potential cross-border collaboration. Sasol’s aspiration is to play a leading role in the co-creation and development of hydrogen ecosystems, which aims to decarbonize hard to abate sectors such as transportation, using green hydrogen produced at its operations facilities leveraging existing process equipment and proprietary technology. Decarbonizing heavy-duty long-haul trucking using fuel…

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Co-operative Bank and AGF ink US$6.8m deal to boost green energy financing in Kenya

KENYA – The Co-operative Bank of Kenya has signed a loan portfolio guarantee agreement with the African Guarantee Fund (AGF) for small and medium-sized enterprises amounting to Ksh750 million (US$6.8 million) to boost financing of green transactions in Kenya. The guarantee facility will enable the bank, on the one hand, to strengthen its commitment to financing Micro, Small and Medium-Sized Enterprises (MSMEs), and promote emerging corporates in Kenya that are involved in green energy and solar installation projects. According to data from the International Renewable Energy Agency (IRENA), increased demand and…

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Vodacom goes solar with US$563,234 investment

SOUTH AFRICA – Vodacom has invested over R8 million (US$563,234) in three new solar-powered sites as part of the telco’s energy and carbon management strategy. The company says the new sites – in Polokwane, Vereeniging and Bloemfontein − form part of the 1,088 solar-powered sites across all of Vodacom’s markets. The company also installed rooftop solar at its Century City offices in Cape Town in 2012, and Vodacom Lesotho’s head office has been powered by solar energy since 2017.   This, the telco says, is part of Vodacom’s long-term strategy to…

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Sanlam Investments launches sustainable infrastructure fund

SOUTH AFRICA – Asset manager, Sanlam Investments, has launched its Sustainable Infrastructure Fund (SIF) which will target investments in sustainable infrastructure projects including renewable energy.  Sanlam Investments says its fund will deliver stable, inflation-beating returns to investors over the long term via an easy-to-access fund structure.  Sanlam Investments has launched Sanlam Investments Sustainable Infrastructure Fund with commitments of R500 million (US$34.7 million). Ockert Doyer, the fund’s lead portfolio manager commented said: “Capital investment into South African infrastructure projects is vital for recovery and a return to solid growth. Efficient infrastructure brings faster…

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Hybrid solar system powers Tanganda Tea Company in Zimbabwe

ZIMBABWE – South African renewable energy company, Blockpower, has announced the completion of the second phase of the installation of 4.6 MWp/1.44 MWh hybrid solar plus storage system for Zimbabwe’s Tanganda Tea Company (TTC). The system will provide power to the company’s agricultural estates in the Chipinge District of Zimbabwe. Tanganda Tea Company Limited is the largest producer, packer and distributor of tea products in Zimbabwe and additionally operate several estates which also cultivate coffee, macadamia nuts and avocadoes. Due to the inconsistent power supply in Zimbabwe, Blockpower was tasked to come up…

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Sustainable Power Solutions gets US$40m from Gridworks to expand clean energy supply

SOUTH AFRICA – Distributed renewable energy company Sustainable Power Solutions (SPS) is receiving US$40 million from Gridworks Development Partners and New GX to expand the supply of clean energy to commercial and industrial (C&I) customers in sub-Saharan Africa. Gridworks Development Partners, an investment company of CDC Group, a company, which specializes in the financing of electricity networks, is contributing US$22 million to SPS’ capital while the remaining funds are being provided by New GX, a wholly black-owned and managed investment holding company in South Africa. These equity investments will enable…

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Huawei launches home energy storage system in Kenya

KENYA – Global technology giant Huawei has launched a new home energy storage solution in Kenya. With a growing number of homeowners jumping on the solar bandwagon, the home energy storage system dubbed Luna 2000 is a device that stores electricity as chemical energy. Speaking during the launch of the new solution, Huawei CEO Will Meng said the company is keen on investing in solar energy research and development. “We pride ourselves for working towards reducing our carbon footprint and for accelerating carbon neutrality in the countries we operate in,” Zhengfei said.…

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Fortress REIT launches US$61.3m sustainability-linked bonds on JSE to scale-up

SOUTH AFRICA – Hybrid fund Fortress Reit said it had launched sustainability-linked bonds of R900 (US$61.3 million) million aligned to its ongoing strategic environmental, social and governance plan to scale up its renewable energy outputs and deliver more solar energy to the national grid. The Johannesburg Stock Exchange had granted Fortress the listing of a three-year sustainability-linked bond of R495 million (US$33.7 million) and a five-year sustainability-linked note of R405 million (US$27.6 million). It said. “Although the bonds do not have specific use-of-proceed requirements, the funds will assist Fortress with…

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