Africa

OPIC Provides Initial Financing to $85 Mn Solar Energy Transformation Fund

The fund supports businesses providing solar solutions to some of the millions of people in India and Sub-Saharan Africa who lack access to electricity. The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, has provided initial financing to SunFunder’s $85 million Solar Energy Transformation Fund which supports businesses providing solar solutions to […]

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UKCI Pledges to Invest R500 Million for Renewable Projects in Africa

UK Climate Investments (“UKCI”) today announced a planned R500 million (£28 million) cornerstone investment in a dedicated African renewable energy yieldco, Revego Africa Energy Limited. The U.K. Climate Investments (UKCI) has announced that it will invest 500 million Rand (Rs 250 crore) in Revego Africa Energy Limited, an investment vehicle dedicated to renewable energy projects in […]

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‘Desert to Power Initiative’ to Provide Solar Electricity to Sahel Region

Tapping in the vast solar energy potential of the region, the initiative is slated to provide green electricity including in some of the world’s poorest countries. In a bid to eradicate energy poverty for 250 million people in the Sahel region of Africa, the African Development Bank (AfDB) is spearheading the ‘Desert to Power Initiative’ […]

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UK Government Gives £100 million for Renewable Energy Projects in Africa

The new investment triples funds for the Renewable Energy Performance Platform (REPP), to support up to 40 more renewable energy projects over the next 5 years UK Government has earmarked a fund of £100 million for the development of renewable energy projects in Africa. The new investment triples funds for the Renewable Energy Performance Platform […]

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Niger PM Brigi Rafini Inaugurates its First Ever Solar Plant

Developed with the support of Indian government, the 7 MW facility is located near Malbaza, a rural village in central Niger. In a proud moment, Niger’s prime minister Brigi Rafini and the minister of energy Amina Moumouni have inaugurated the nation’s first solar power plant. Developed with the support of Indian government, the 7 MW […]

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AFRICA: World Bank invests in batteries to boost solar energy

The World Bank has decided to invest $1 billion for energy storage in Africa. The objective is to support the production of batteries to stimulate the production of solar energy. Africa is increasingly relying on solar energy to increase the rate of access to electricity for its population. Intermittence is the main disadvantage of the […]

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ADB Raises €600 Mn via Green Bond to Spur Climate Financing

Further, the bond has a coupon rate of 0.35 percent p.a. payable annually and a maturity date of July 16, 2025. It was priced at 99.924 percent to yield 43 basis points (BPS) over the DBR 0.5 percent February 2025. Philippines-based Asian Development Bank (ADB) has raised €600 million to help finance climate change mitigation […]

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GCL New Energy Inks PPA for 110 MW Solar Project in Colorado

Further, this project is located on 611 acre site 35 miles east of Denver, Colorado where the land is flat and has good irradiance. Clean energy conglomerate GCL Group arm GCL New Energy has inked a long-term power purchase agreement (PPA) with Intermountain Rural Electric Association (IREA) for its Pioneer 110 MW greenfield project in Colorado. Further, this […]

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Small African Nations Seek Indian Support Through ISA

Speaking on the sidelines of Fourth Smart Cities India 2018 Expo, underway at the Pragati Maidan, Gambian Ambassador said that they are seeking technical support from India through ISA. She was referring to small population nations of the African continent. To build up their solar capacity, small African nations are looking towards India for assistance […]

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