News Update - November 2024: Part 2

For more bi-weekly updates and sign up for our newsletter here, follow the latest news as many other professionals in Africa's Renewable Energy Space.

South Africa

• Volkswagen Group Africa expanded its solar capacity by 3 MW, bringing the total to 5.9 MW. The company has invested nearly $5.5M USD in solar energy so far. (cc Martina Biene )
• Scatec ASA completed a transaction, selling ownership in Kalkbult, Linde, and Dreunberg projects to STANLIB , earning $24M USD in the second phase and $51M USD in total. (cc Aidan Wildschut )
• Chateau Gateaux (Pty) Ltd partnered with SOCO CAPITAL to develop a 700 kWp solar PV system for its production facilities. (cc Amit Abraham )
• A consortium of Mulilo , TotalEnergies Renewables South Africa, Reatile Group (Pty) Limited reached financial close for a 260 MW solar and wind project, valued at $414.6M USD, with debt financing from Standard Bank Group , Absa Group , and Nedbank . (cc Sunette Smith )
• Pele Green Energy achieved financial close on the 100 MW Sonvanger solar project, marking the first utility-scale project closed by a sole sponsor and single IPP in South Africa. (cc Ronald Chindeka )

Rest of Sub-Saharan Africa

• Benin - Construction of a $25.8M USD, 25 MW solar plant began, in partnership with the Beninese government, Agence Française de Développement , and the European Union .
• Kenya - RUBiSOL, a joint venture by Solarise Africa and RUBiS Energy Kenya , will offer renewable energy solutions to commercial and industrial clients. (cc Jan Valk )
• Nigeria - The European Union and Enugu Government launched a $2.6M USD solar project to electrify 25 Primary Health Centres and support small-scale businesses.
• Senegal - JUWI South Africa secured financial close for a $31.5M USD off-grid solar project with 20 MWp capacity and 11 MWh storage for Eramet's mineral sands mine. (cc Richard Doyle )
• Senegal - Solarbox Africa , an eMobility startup, raised $1M USD in pre-seed funding from multiple investors Digital Energy Facility, Launch Africa Ventures , JLL Foundation and Teranga Capital .
• Zimbabwe - Grid Africa signed a $180M USD deal to build a 200 MW solar plant to power mining operations. (cc Norman Moyo )

• The IFC - International Finance Corporation committed $25M USD to Acumen’s H2R Initiative to provide solar power and catalyze market growth in Africa.
• Norway announced $175M USD in state guarantees for renewable energy investments in developing countries, managed by Norad - Norwegian Agency for Development Cooperation with Norfund ’s support.
• The Rockefeller Foundation invests $10.9M USD to advance clean energy in Africa, building on $10M USD in prior commitments to energy transition projects through The Global Energy Alliance for People and Planet (GEAPP) . (cc Naomi Wagura )

For more bi-weekly updates and sign up for our newsletter here, follow the latest news as many other professionals in Africa's Renewable Energy Space.