Solar Financed Africa’s Post

The African Development Bank Group has approved a €6 million concessional financing package from the Sustainable Energy Fund for Africa (SEFA), a special multi-donor fund managed by the Bank, to accelerate the completion of Burkina Faso’s Dédougou photovoltaic solar project in support of the Bank's Desert-to-Power initiative. The project involves designing, constructing and operating an 18-megawatt solar power plant in Dédougou, located 250 kilometres west of the capital, Ouagadougou. Burkina Faso is one of five priority countries under the Desert-to-Power initiative, which aims to generate 10 gigawatts of solar power across 11 Sahelian countries by 2030, promoting socio-economic development. Under the SEFA Programme, a €2.5 million senior concessional loan and a €3.5 million reimbursable grant have been provided through its concessional finance facility. SEFA's involvement has been instrumental in unlocking additional financing from the Dutch entrepreneurial development bank, FMO - Dutch entrepreneurial development bank, including subordinated and senior loans. These funds will be disbursed to Dédougou Solaire SARL, the project company jointly developed by Qair Group, which is responsible for managing the project. “Abdoulaye TOURE, CFO at Qair Africa, acknowledged SEFA’s support and the project’s advancement: “We are pleased with this approval by SEFA and thank the African Development Bank for their support of the project. This allows us to move forward with our commitment to supporting Burkina Faso’s energy goals by developing a second solar plant, just a year after the successful commissioning of Zano. This achievement aligns with the country’s ambitions for energy supply and reinforces Qair’s vision of becoming a leading player in Africa’s renewable energy sector in the coming years.” Read more: https://lnkd.in/dM74UV3h #RenewableEnergy #Solar #BurkinaFaso #Investment

🌍⚡ Driving Africa's Energy Transformation! 🚀🔋 Standard Bank Group and Meridiam are teaming up to unlock new investment opportunities in alternative energy across Africa. This powerful partnership is already making waves, having boosted renewable energy projects and supported economic growth over the past four years. 💼 🔋 Key highlights: - Meridiam now operates 250 MW of onshore wind and solar projects in Kenya 🌞💨 - Together, they aim to address Africa’s energy and infrastructure challenges through long-term investment in sustainable projects 🏗️ - Their joint efforts align with South Africa's recently amended Electricity Regulation Act, opening doors for private sector participation in the energy sector 🚪 As Africa's energy demands grow, collaborations like this are crucial for fostering innovation, sustainable growth, and inclusive development. The future of energy in Africa is brighter than ever! 🌱🌍 Read the full article from Ventureburn here: https://lnkd.in/edMWTkfX #EnergyTransition #RenewableEnergy #AfricaGrowth #SustainableInfrastructure #StandardBank #Meridiam #PublicPrivatePartnership #GreenEconomy

InfraCredit, an infrastructure credit guarantee institution, has announced the credit enhancement of ACOB Lighting Technology Limited, a renewable energy company’s debt issue. The facility came under a co-financing arrangement with the climate finance blending facility with £10 million seed funding from the United Kingdom Foreign, Commonwealth and Development Office (FCDO). It was the third transaction under the climate facility. The InfraCredit’s Clean Energy Funding Programme (CEFP) seeks to aggregate, de-risk and unlock domestic institutional investments to support eligible clean energy projects in Nigeria to contribute towards meeting the country’s universal electrification goal by 2030, the company said. Speaking on the transaction, the Chief Executive Officer of ACOB Lighting Technology, Alexander Obiechina stated: “This funding presents a significant opportunity for ACOB to actualise its vision of bridging the huge energy poverty gap that exists in the country using decentralised renewable energy technologies. The local currency blended finance is no doubt a catalyst that unlocks the patient capital our sector has been yearning for over the years.” CEO of InfraCredit, Chinua Azubike, said: “We are pleased to have supported another indigenous Distributed Renewable Energy (DRE) company with the vision of increasing energy access in Nigeria through off-grid solar mini-grid infrastructure to access long term affordable local currency financing. The Nigerian domestic institutional investors continue to demonstrate their appetite to invest in climate-aligned infrastructure that enables more inclusive access to essential services such as energy. Read more: https://lnkd.in/dzqYSgST #RenewableEnergy #Solar #Investment #Nigeria

It was wonderful speaking with CNBC Africa about the recent $20 Million debt funding we closed with European Investment Bank (EIB) and how much more we need to deploy to bring the modern minimum energy to ~200 million people in Nigeria market alone. $20M is indeed just the beginning. We are striving to deploy $1 Billion Dollars in Sub-Saharan Africa that will help Husk Power Systems to deploy its promised 5,000 minigrids in less than 10 years and meet our UN Compact goals. And we will do it in the most capital efficient way, given our track record of deploying ~250 minigrids in two continents (Asia and Africa). https://lnkd.in/gW7sDFPT #minigrids #greenjobs #100XScale #reanigeria #eib #climatechange #netzero

Electricity is the Fibre (husk) of the growth of a community and a society :)

ON THE NEWS #BurkinaFaso 𝐀𝐟𝐫𝐢𝐜𝐚𝐧 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐁𝐚𝐧𝐤 𝐆𝐫𝐨𝐮𝐩’𝐬 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐄𝐧𝐞𝐫𝐠𝐲 𝐅𝐮𝐧𝐝 𝐟𝐨𝐫 𝐀𝐟𝐫𝐢𝐜𝐚 𝐚𝐩𝐩𝐫𝐨𝐯𝐞𝐬 €𝟔 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐟𝐨𝐫 𝐃𝐞𝐬𝐞𝐫𝐭 𝐭𝐨 𝐏𝐨𝐰𝐞𝐫 - 𝐁𝐮𝐫𝐤𝐢𝐧𝐚 𝐅𝐚𝐬𝐨 𝐒𝐨𝐥𝐚𝐫 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 The African Development Bank Group has approved a €6 million concessional financing package from the Sustainable Energy Fund for Africa (SEFA), a special multi-donor fund managed by the Bank, to accelerate the completion of Burkina Faso’s Dédougou photovoltaic solar project in support of the Bank's Desert-to-Power initiative. The project involves designing, constructing and operating an 18-megawatt solar power plant in Dédougou, located 250 kilometres west of the capital, Ouagadougou. Burkina Faso is one of five priority countries under the Desert-to-Power initiative, which aims to generate 10 gigawatts of solar power across 11 Sahelian countries by 2030, promoting socio-economic development. This project stands as one of the first independent power producers (IPPs) in Burkina Faso and has secured both senior and subordinated loans, along with a 25-year Power Purchase Agreement (PPA) with the Société Nationale d’électricité du Burkina Faso (SONABEL). However, the project encountered challenges in reaching financial close due to cost escalations resulting from the COVID-19 pandemic. The SEFA Covid-19 IPP Relief Programme (SEFA Programme) played a pivotal role in overcoming these hurdles. Through concessional financing, SEFA helped restructure the financial arrangements to absorb the pandemic-related cost increases, ensuring the project’s viability and preserving the originally agreed structure with the Government of Burkina Faso, thereby contributing to the country’s energy security. Under the SEFA Programme, a €2.5 million senior concessional loan and a €3.5 million reimbursable grant have been provided through its concessional finance facility. SEFA's involvement has been instrumental in unlocking additional financing from the Dutch entrepreneurial development bank, FMO(link is external), including subordinated and senior loans. These funds will be disbursed to Dédougou Solaire SARL, the project company jointly developed by QAIR(link is external), which is responsible for managing the project. READ MORE : https://bit.ly/4eOn8vO . . #AFRICED #EnergyNews #lwili #BurkinaFaso #SolarPowerPlant #AfDB #IPP #SDG7 #EnergyAccess #PowerAfrica

AXIAN Energy Secures €84 Million Financing for Senegal Solar Project 🇸🇳 ☀️ Axian Energy, a subsidiary of Pan-African group Axian, has secured a €84 million (approx. $89.1 million USD) financing package for the 60 MW Kolda solar project in Senegal. This ambitious project includes the construction of two photovoltaic parks and a 72 MWh battery storage facility, with an estimated overall cost exceeding €105 million. 💸 The debt financing was led by Emerging Africa & Asia Infrastructure Fund (EAAIF), FMO - Dutch entrepreneurial development bank, and DEG. EAAIF and FMO each contributed €30.5 million, while DEG provided the remaining €23 million. 🌍 Located in Senegal's Kolda region, this solar complex, expected to be commissioned by 2026, will meet the electricity demands of approximately 235,000 people annually. It will also feature an integrated battery storage system, offering up to three hours of backup power during evening peak times. 🌿 Axian’s Kolda project is poised to be West Africa’s largest solar park with battery storage and aligns with Senegal’s vision of achieving 40% renewable energy capacity by 2030, helping drive the region's clean energy goals. Congratulations to Laurent ROINEAU, Ndeye Ngoné T.! #AxianEnergy #RenewableEnergy #Senegal #SolarEnergy #SustainableAfrica

British International Investment (BII), the UK's development finance institution and impact investor, has signed a significant agreement with Meridiam to provide $15 million to Rift Valley Energy (RVE) to expand access to sustainable energy in Tanzania. This investment has the potential to increase to $25 million, reflecting BII's commitment to supporting renewable energy projects in the region. The funding will be directed towards the installation of an additional 7.6 megawatts (MW) of renewable energy capacity, which will be integrated into Tanzania's national grid. This expansion is expected to provide energy to approximately 170,000 people annually and connect 4,000 businesses and households to the grid for the first time. Additionally, the project is anticipated to create around 1,800 new jobs and avoid up to 17,000 tonnes of carbon emissions per year by the end of 2027. Rift Valley Energy, acquired by Meridiam in 2023, currently owns 30 MW of clean energy assets and operates two rural distribution networks serving over 75,000 people. The new projects funded by BII will include wind and hydropower developments, enhancing the existing renewable energy infrastructure in Tanzania. Mathieu Peller, Deputy CEO and Africa Head of Meridiam, expressed confidence in Tanzania's market and the government's ambitious economic development plans. He noted that the partnership with BII aligns with Meridiam's mandate and purpose, and they are pleased to support the growth of renewable energy projects in the country.

Latest on International Trade Magazine: British International Investment signs $15m Energy Agreement British International Investment (BII), the UK's development finance institution (DFI) and impact investor, today signed an agreement to provide $15m with the potential to increase this to $25m, to renewable energy platform Rift Valley Energy (RVE), owned and managed by Meridiam. The funding will support part of RVE's ambitious investment and development plan for future renewable energy projects in Tanzania. Read more here: https://lnkd.in/d6GS7aQe #Trade #Business #Investment #Trading #InternationalTrade

InfraCo Africa Invests in Zimbabwe's First Internationally Financed Solar IPP 🇿🇼 🌍 Investment Announcement: The Private Infrastructure Development Group (PIDG) company, InfraCo Africa, has signed an agreement with Energywise Equipment (Pvt) Ltd and Impala Power to invest US$1.5 million in the 30MWac Vungu Solar project, marking Zimbabwe’s first internationally project-financed solar IPP. ⚡Sustainability Commitment: Omar Jabri, Head of Business Development at InfraCo Africa, emphasised that the project aligns with PIDG’s mission to enhance energy access, adding 30MWac of clean power to the national grid and potentially unlocking further private sector investments in solar IPPs. 📝 Government Collaboration: Vungu Solar was selected as the preferred bidder in a national pilot program to develop standardised documents for solar IPPs. Supported by the Africa Legal Support Facility, the Ministry of Energy and Power Development prepared a standardised Power Purchase Agreement (PPA) and Government Project Support Agreement, currently under negotiation. 🚀 Future Prospects: The project aims to facilitate international financing for renewable energy in Zimbabwe, contributing to socio-economic growth through clean electricity. This initiative supports Sustainable Development Goals 7 (Affordable Clean Energy) and 13 (Climate Action). Congratulations to Omar Jabri! #RenewableEnergy #SolarPower #Zimbabwe #InfraCoAfrica #SustainableDevelopment #CleanEnergy #ClimateAction #GreenInvestment