4.5 mn People in Africa to Benefit With Off-Grid Power by 2025

AfDB has approved an innovative financing program for DESCOs, which would see 4.5 million people in sub-Saharan Africa gain access to solar power by 2025. The Board of Directors of the African Development Bank (AfDB) Group has approved an innovative multinational financing program for Distributed Energy Service Companies (DESCOs), which would see 900,000 households in sub-Saharan […]

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AfDB Receives €40 Mn Investment From EU to Scale Renewables in Africa

AfDB has announced a €40 million investment from the EU for the FEI, a new platform for financing small-scale renewables in Africa. The African Development Bank (AfDB) has announced a €40 million investment from the European Commission (EU) for the Facility for Energy Inclusion (FEI), a new platform for financing small-scale renewables in Africa. The […]

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2018 a Record Breaking Year For Wind Turbine Manufacturers in Africa: Report

2018 was a record-breaking year for wind turbine manufacturers in Africa, boosted by strong demand and supply in South Africa. 2018 was a record-breaking year for wind turbine manufacturers in Africa. The South African government signed long-pending PPAs in April 2018, which helped independent power producers (IPPs) to announce final investment decisions (FID), according to […]

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Wind Majors Come Together For Africa Task Force

The Global Wind Industry Council (GWEC) has set up a new Task Force to speed up and facilitate the development of wind energy in Africa. The Task Force brings together leading developers, manufacturers and associations that are active in the African market, including Siemens Gamesa Renewable Energy, Vestas, the South Africa Wind Energy Association, Africa […]

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World Bank Approves $200 Mn Regional Off-Grid Electrification Project 

The World Bank Group has approved the Regional Off-Grid Electrification Project (ROGEP) to help expand off-grid access to electricity for populations in 19 countries in West Africa and the Sahel region. The Board of the World Bank Group approved  the Regional Off-Grid Electrification Project (ROGEP), which includes $150 million in the form of credit and […]

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World Bank and AfDB Commit $ 47 billion For African Climate Finance

The World Bank and the African Development Bank have together committed close to $47 billion to African countries, for the period up to 2025 to fight climate change. In a significant announcement to provide much-needed financing for African countries likely to face the increasing effect of climate change, the funds’ pipe from the World Bank […]

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UK Augments Funding for African RE Projects by £30 million

Harriett Baldwin, the UK Minister for Africa, announced additional new funding to give more people and companies across Africa access to affordable, clean energy. Minister Ms. Harriett Baldwin announced that the new funding will see £30 million added to the Transforming Energy Access program, taking total British investment to £100 million, and allowing it to […]

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Africa’s First Commercial Floating Solar Farm Commissioned

The plant, besides generating enough electricity to take the farm nearly off the grid will also reduce its carbon emissions by half. New Southern Energy, a leading South African-based, full-service renewable energy provider for distributed energy projects throughout Africa, has installed the continents first commercially operated floating solar PV power plant at the Marlenique fruit […]

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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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