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Nigeria has secured a $500 million loan from the African Development Bank Group (AfDB) to upgrade its electricity infrastructure and increase access to cleaner energy sources. This funding will support the initial phase of the Economic Governance and Energy Transition Support Program (EGET-SP), which aligns with Nigeria's new Electricity Act and Energy Transition Plan. The program's objectives include enhancing power infrastructure, expanding renewable energy capacity, and promoting clean cooking solutions by 2030.   Fadekunayo Adeniyi Darious Mumba Denis Uche Akabogu. Terseer Ugbor Abba Abubakar Aliyu ENEFIOK EDWIN NKAN Damilola Ogunbiyi Petlong Dakhling Ikechukwu Promise Obialor Dakim Dung Follow The African Energy Council for more energy news. #NigeriaEnergy #aecouncil #CleanEnergy #EnergyTransition #RenewableEnergy #AfDB #WorldBank #SustainableDevelopment #ElectricityInfrastructure #EnergyReform #ClimateAction

The State Bank of Pakistan (SBP)'s concessional renewable energy financing scheme emerged as a catalyst, channeling approximately USD 350 million between 2017 and 2020. This renewables revolution promised to reshape the nation's energy future. But as concessional funding phases out and financing costs escalate, a crucial question emerges: ✳️ What lies beneath the surface of renewable energy economics? ✳️ How do complex risk layers - from currency fluctuations to sovereign uncertainties - truly impact the viability of Pakistan’s renewables ambitions? Join us for the launch of "𝐃𝐞𝐫𝐢𝐬𝐤𝐢𝐧𝐠 𝐏𝐚𝐤𝐢𝐬𝐭𝐚𝐧'𝐬 𝐑𝐞𝐧𝐞𝐰𝐚𝐛𝐥𝐞 𝐄𝐧𝐞𝐫𝐠𝐲 𝐅𝐮𝐭𝐮𝐫𝐞" - a comprehensive study that promises to unravel the intricate financial mechanisms powering our sustainable transformation. RSVP here: https://lnkd.in/dRKncmyZ (RSVP does not guarantee an invite) #RenewablesFirst #CleanEnergy #EnergyFinance #DeRiskingFinance #RenewableEnergy #SustainableEnergy

Nigeria is currently grappling with economic difficulties, stemming from ongoing government reforms related to exchange rate unification and the removal of subsidies on premium motor spirit. Read more : https://lnkd.in/d9Ahvih7 #RenewableEnergy #SustainableDevelopment #NigeriaEnergy #CleanEnergy #GreenEconomy #ClimateAction #EnergyTransition #Renewables #SustainableGrowth #DevelopmentGoals

The Solomon Islands of Oceania are an archipelago with a rich history, some of it not so good for the residents there. A new partnership could lead the way toward decarbonization and energy independence for the nation of nearly 750,000 people spread across dozens of islands. The Asian Development Bank (ADB) and the Government of Solomon Islands along with other partners will enable Solomon Islands transition to renewable energy with a transformational project, the Solomon Islands Renewable Energy Development Project, to accelerate renewable energy generation and battery storage system installation, support power sector reforms, and promote private sector participation in the renewable energy generation. While the project is funded by a $10 million concessional loan, a $5 million grant is secured from the Asian Development Fund, which considers ADB’s poorest and most vulnerable developing member countries. Moreover, the Saudi Fund for Development (SFD) and Solomon Power are providing $10 million each and the Government of Solomon Islands is offering $7 million in exempted duties and taxes. Almost all of Solomon Islands’ grid electricity is diesel generated, with renewables accounting around 2 percent of the energy mix. The project backs other ADB energy sector interventions helping install more renewable energy generation, including the Tina River Hydropower Project as well as another project converting five diesel-powered provincial grids to solar hybrid systems. Utility Solomon Power has developed several solar projects in the recent past dating back to 2017. Those solar farms were built in the Seghe Western and Choiseul provinces. Solomon Islands was the site of numerous World War II battles between the United States and Japan, including the Battle of Guadalcanal. The nation still suffers from a lack of infrastructure and health and well-being initiatives. To save energy & cost for your business, contact me at https://buff.ly/2EjAMbu. #Reliability #EnergyStorage #EnergyEfficiency #Renewables #EnergyAudit #Procurement #Resilience https://buff.ly/3Bjz8GN

ACWA Power Secures Financing Agreements Totaling USD 533 Million for Tashkent Riverside Project in Uzbekistan Saudi-listed ACWA Power, the world’s largest private water desalination company and a leader in energy transition and green hydrogen, has announced the completion of the dry financial close for the USD 533 million Tashkent Riverside project in Uzbekistan. This project includes a 200MW solar photovoltaic (PV) plant and the largest battery energy storage system (BESS) in Central Asia, aimed at stabilizing the Uzbek grid. The financing documents were signed with six lenders, including the European Bank for Reconstruction and Development (EBRD), Islamic Development Bank (IsDB), DEG, Proparco, Standard Chartered, and KfW-IPEX Bank. Total debt from the signings stands at USD […] Read the full story here: https://lnkd.in/dWrBxDqU #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #asia #greenenergy #greenhydrogen #renewableenergy #solarenergy #uzbekistan

Supporting Nigeria’s #naturalgas agenda is crucial for our nation’s energy strategy and economic development. By supporting the penetration of #LPG and #CNG, we can enhance energy security, drive industrial growth, offer new local content development opportunitioes, and promote a more sustainable energy future. #NaturalGas #EnergyPolicy #Nigeria https://lnkd.in/eFsiv-Jz

🌍 I want to address a critical aspect of our renewable energy landscape in South Africa: the necessity of curtailing projects that do not reach financial close. **Why is this important?** 1. **Resource Efficiency**: By focusing on viable projects, we ensure that our financial and human resources are allocated effectively, driving real progress in the sector. 2. **Risk Mitigation**: Projects without secured funding introduce significant risks. Curtailing these initiatives protects investors and maintains market stability. 3. **Regulatory Compliance**: Adhering to regulatory frameworks is essential for energy security. Projects must meet financial benchmarks to contribute effectively to our grid. 4. **Market Alignment**: Prioritizing financially viable projects allows us to respond dynamically to market demands, fostering a sustainable energy mix. 5. **Long-term Growth**: Emphasizing projects that are financially sound encourages further investment and innovation in renewable energy, paving the way for a resilient future. Together, we can build a sustainable energy landscape that benefits all South Africans. Let’s focus on projects that are ready to deliver! #RenewableEnergy #Sustainability #EnergyTransition #SouthAfrica

Nigeria, Africa’s largest economy, plays a pivotal role in advancing sustainable energy across the continent. With vast natural gas reserves, the country is well-positioned to support the global energy transition. Government initiatives such as the Decade of Gas and the National Renewable Energy and Energy Efficiency Policy (NREEEP) aim to expand gas infrastructure and promote renewable energy, fostering economic growth while reducing carbon emissions. #ZenLtd #GlobalStandards #LPGIndustry #SafetyFirst #QualityControl #SustainablePractices #EcoFriendly #ContinuousImprovement #IndustryCollaboration #EnergyEfficiency #LPGSolutions #SaferFuture #SustainableEnergy

I'm excited to announce the soft launch of a new research initiative with the Center on Global Energy Policy, the Gulf Renewable Power Tracker. If you know my work, I have been drawn to creating accessible data trackers on Gulf economic diversification, foreign economic intervention (aid, investment and direct support) for a decade. This one is unique, in that it attempts to give a picture of outward Gulf sovereign and SRE investment & development in renewable power generation on a global scale. https://lnkd.in/e3UJFxDm The capacity to develop renewable power projects rests on access to capital, technology and component supply chains, as well as the political initiative to secure off-take agreements with state-owned or controlled utilities across emerging market developing economies. Here the GCC states, and especially state-owned or state-related entities in Saudi Arabia and the United Arab Emirates, are at an advantage. The Gulf states are not only attracting investment in clean energy but also seek to become development players themselves, using their sovereign funds and state-owned energy firms to invest aggressively in renewable energy and carbon-intense projects in the region and beyond. The funding gap between need and investment in clean energy in the developing world is massive. Gulf states are positioning themselves to help fill that gap. Gulf states typically invest in high-growth, high-population areas that will likely need more energy from the Gulf in the future—not only oil and gas but also electricity. The Gulf states and their renewable energy firms and investment vehicles have the capacity and the interest to shape the direction and pace of the energy transition across the wider Middle East and a growing geography of emerging market developing economies, each reliant on investment and financial intervention from the Gulf states, along with more traditional forms of infrastructure investment and aid. Owning, operating and controlling a country’s power production is a mighty—and durable—political tool, as typical power projects are financed for as long as 30 years. Transitioning to renewable energy can lower the price of reliable electricity, allowing people and commerce to thrive as long as investors ensure that the projects they back meet standards of transparency and accountability. This research initiative has three aims in its data visualizations and subsequent analytical output: First, it tracks the deployment of renewable power projects on a global scale that are led by Gulf state-backed entities; Second, it seeks to analyze the pace and structure of renewable energy development inside of the Gulf states; Third, it brings together consideration the geopolitics of emerging partnerships in investment, manufacturing and technology transfer in renewable energy between the Gulf and China. Special thanks to: Alice Baudin, Megren Almutairi, Rawan Alfehaid and Kyu Lee

https://lnkd.in/eY79X8N Power Reports Kenya The Impact Investors’ Blind Spot: Local Clean Energy Entrepreneurs in Kenya Impact investment aiming at generating both financial and socioeconomic returns is critical to achieve universal energy access. Off-grid energy access companies have absorbed about US$1.7 billion worldwide in disclosed investments in the period 2010 to 2018. The pace of investment has accelerated in the last few years. At the same time, impact investors have been criticized for investing only in foreign-owned companies and not local entrepreneurs, particularly in Africa. #africanpowerplatform #africapowerplatform #energyaccess #PowerAfrica #PAYG #energy #cleanenergy #Africa #renewables #renewable #renewableenergy #electricity #electrification #minigrids #microgrids #offgrid #solar #wind #biomass #solarpower #solarenergy #windpower #windenergy #hydropower #hydroenergy #SE4ALL #SDG7 https://lnkd.in/eY79X8N