Solar Financed Africa

🌍 Africa's Finance and Investment Solar highlights for early November. Nigeria Paras Energy & Natural Resources Dev. Ltd. signs PSA with Empower New Energy to develop, finance, construct, and operate a hybrid solar PV and battery plant for UMZA. Rural Electrification Agency of Nigeria commissions 100 kW solar hybrid mini-grid. (cc Doris Uboh) 🇿🇦 South Africa Asian Infrastructure Investment Bank (AIIB), along with IFC - International Finance Corporation and Proparco, will provide the $79M USD green sustainability-linked loan facility to enhance ENGIE ’s clean energy assets in Poland and South Africa. (cc Léa Giroux) Teraco – A Digital Realty Company commences construction on 120 MW utility scale solar power plant. (cc Jan Hnizdo) 🌍 Rest of Sub-Saharan Africa Namibia - Solarcentury Africa partners with Sino Energy for $19M USD solar plant. (cc Chris Kanani) Senegal - AXIAN Energy secures EUR 84m in debt financing from Emerging Africa & Asia Infrastructure Fund, FMO - Dutch entrepreneurial development bank and DEG for solar-storage park in Senegal. (cc Frederic SISMONDI) Many more updates in the newsletters. For more bi-weekly updates and sign up for our newsletter here: https://lnkd.in/eb_du9Ec and follow our newsletter as many other professionals in Africa's Renewable Energy Space. #RenewableEnergy #Solar #Africa #SouthAfrica #Investment

🌍 Africa's Finance and Investment Solar highlights for late November. 🇿🇦 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) 🌍 Rest of Sub-Saharan Africa 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) 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) Zimbabwe - Grid Africa signed a $180M USD deal to build a 200 MW solar plant to power mining operations. (cc Norman Moyo) 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) Many more updates in the newsletters. For more bi-weekly updates and sign up for our newsletter here: https://lnkd.in/eb_du9Ec and follow our newsletter as many other professionals in Africa's Renewable Energy Space. #RenewableEnergy #Solar #Africa #SouthAfrica #Investment

Pele Green Energy (PGE) has announced that it has successfully reached financial close of the Sonvanger Solar PV Power Plant for the Glencore Merafe Venture’s operations in the Free State province. This African renewable energy project marks a significant milestone for both PGE and South Africa’s energy landscape, solidifying the company’s position as a leading Independent Power Producer (IPP) in the country. The Sonvanger Solar PV Power Plant, a 100 MW facility located 4 km southwest of Theunissen in the Masilonyana Local Municipality, contributes to South Africa’s clean energy future. PGE is the lead sponsor of the plant, which will provide clean, reliable, and sustainable power for Glencore Merafe Ferrochrome smelters in South Africa. This launch is particularly significant as it is the first utility-scale project closed by a sole sponsor and single IPP in South Africa. This achievement represents another milestone in PGE’s vision of becoming a pioneering force in renewable energy. Glencore Merafe Venture’s approach with this project has shown a dedicated commitment to addressing its Scope II emissions from industrial operations, signifying how sustainable practices are crucial to the future of mining. This partnership underscores a shared vision for a low-carbon future. Glencore Merafe Venture’s dedication to reducing their environmental impact and choosing to do so in partnership with a South African IPP demonstrates a joint perspective with our goals at Pele Green Energy. We are excited to be part of achieving these critical sustainability milestones for this industry. Gqi Raoleka, CEO, Pele Green Energy. The Sonvanger Solar PV Power Plant is more than just a power generation facility—it is an engine of economic growth an a catalyst for job creation. With construction and operational phases creating numerous employment opportunities, the project will benefit local communities, contributing to infrastructure development and long-term socio-economic prosperity. Adhila Mayet, Head of Project Development, Pele Green Energy Read more: https://lnkd.in/dgXNRnbn #RenewableEnergy #Solar #SouthAfrica #Investment #Financing

Solarise Africa; a pan-African energy-as-a-service company and RUBiS Energy Kenya have established RUBiSOL, a joint venture that will provide renewable energy solutions to commercial and industrial clients in East Africa. This agreement, according to the companies, marks a key milestone in accelerating transition efforts to renewable energies and de-carbonisation. According to a statement from the parties, this initiative will considerably improve the energy landscape by offering East African businesses with reliable and affordable decentralised energy options. Jan Valk, co-founder and CEO of Solarise Africa, commented on the collaboration, saying: "Our expertise in decentralised solar and other energy solutions, combined with RUBiS's strong market presence, will unlock new possibilities and empower businesses to thrive." Olivier Sabrié, CEO of RUBiS Energie East Africa and group managing director of RUBiS Energy Kenya, stated, "RUBiS Energie's strategic aim is to expand the renewable energy agenda in Africa. By collaborating with Solarise Africa, we are taking a crucial step towards a more sustainable future. RUBiSOL will not only expand our energy range, but also provide our clients with innovative and sustainable energy solutions." Read more: https://lnkd.in/dqivcmwu #RenewableEnergy #Solar #Kenya #Investment

Independent UK law firm Burges Salmon LLP has advised the Facility for Energy Inclusion (FEI) on its $10 million long-term senior debt financing to Cicada Solar Limited (Cicada), a leading provider of commercial and industrial solar solutions in Zimbabwe. Zimbabwe’s current growth trajectory is constrained by limited power supply, and needs to be supported by sustainable and affordable energy solutions. Cicada aims to provide much needed support to commercial and industrial businesses in Zimbabwe, in bridging the capacity gap. The financing will support Cicada to scale up its operations across Zimbabwe, providing credible businesses with renewable energy and vendor financing solutions. The multi-disciplinary team from across Burges Salmon’s Energy and Infrastructure sectors advising on the transaction comprised Stuart McMillan, Luke Addison, James Horton, Uba Emole, Emily Cranston, Alice Burns, and Zar Wilson. Maria del Carmen De Castro Ovejero, Managing Director of FEI, comments: “Further demonstrating its leading role in the C&I sector in Africa, the Facility for Energy Inclusion has been able to leverage its experience to deliver this milestone transaction in Zimbabwe. Read more: https://lnkd.in/dC2z42BK #RenewableEnergy #Solar #Zimbabwe #Investment

A three-party consortium has reached financial close on a 260-MW wind and solar project in South Africa and launched construction of the facilities at a site in Northern Cape province. The news was announced on Tuesday by South African independent power producer Mulilo and TotalEnergies Renewables South Africa, part of French multi-energy group TotalEnergies SE (EPA:TTE). The pair developed the two-part project in a consortium with Johannesburg-based black-owned investment holding Reatile Group (Pty) Limited. The combined capital cost of the installations is approximately ZAR 7.5 billion (USD 414.6m/EUR 394.2m), with lenders including Standard Bank Group , Absa Group, and Nedbank providing debt financing. The funds will be used to build the 140-MW De Aar 2 South wind farm and the 120-MW Paarde Valley PV2 solar farm in the De Aar region, which, according to Mulilo, boasts exceptional renewable energy potential. Mulilo and TotalEnergies are in charge of the construction, operation and maintenance of the facilities. They will also build the Kestrel Main Transmission Substation, which will be used to connect the wind and solar farms. Once completed, the substation will be handed over to South African state-owned utility Eskom Holdings SOC Ltd, according to a statement from Mulilo. Read more: https://lnkd.in/d2e88hhd #RenewableEnergy #Solar #SouthAfrica #Investment

Senegal’s eMobility solutions provider and energy startup Solarbox Africa on Thursday announced the closing of its $1m Pre-Seed round. The funding was led by early-stage investors Digital Energy Facility (a collaborative initiative led by Agence Française de Développement, IetP and Gaia Impact Fund), Launch Africa Ventures, JLL Foundation as well as Teranga Capital. The company said in a statement that the funding will enable it to satisfy massive demand for its solutions in Senegal and neighbouring regions. SolarBox, incubated by Wuri Ventures, designs, assembles and deploys custom-made light electric vehicles (2 and 3-wheelers) for corporates – with solar charging, financing and fleet management solutions. In less than a year, SolarBox Africa partnered with industry leaders across Senegal, including Orange Energies, FedEx, Paps Logistics, Plastic Odyssey, Swiss Fresh Water, Health in a Box, and Fleetch, demonstrating its unique ability to accelerate the transition to clean mobility for many African businesses. “In less than a year, Solarbox Africa demonstrated that it could win over big corporates with a win-win offer, while assembling and designing solutions that truly fit local realities and customers’ needs. We believe this Pre-Seed round positions Solarbox as the fastest growing, profitable, and well funded electric mobility leader in Senegal” says Paul-François Cattier, senior venture partner at On.Capital, the first institutional investor in Solarbox. Read more: https://lnkd.in/dx8C8PnC #RenewableEnergy #Solar #Investment #Senegal

The Rockefeller Foundation has announced grants totaling $10.9 million to advance African-led clean energy solutions. Announced at the United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, the funding will build on the foundation’s $10 million in earlier commitments to energy transition projects across sub-Saharan Africa through the The Global Energy Alliance for People and Planet (GEAPP). The latest investments include $2.1 million to bolster its African Energy Futures Initiative; $3 million to the African School of Regulation; $400,000 to launch a Clean Cooking Alliance (CCA) delivery unit in Kenya; $300,000 to help integrate off-grid solar into national electrification strategies in nearly two dozen countries; and $5 million to advance the Republic of Zambia’s effort to deploy more than 1,000 mini power grids in rural communities. “Access to clean, low-cost renewable energy in Africa underpins economic development, creates jobs, builds climate resilience, powers digital connectivity, and supports food security,” said Global Off-Grid Lighting Association executive director Sarah Malm. “[We are working] with the Rockefeller Foundation to advocate for the hardest to reach populations and build the political will and technical capacity of national governments to accelerate access to clean renewable energy.” Read more: https://lnkd.in/dQjHNEVR #RenewableEnergy #Solar #Africa #Financing

French multinational miner Eramet’s subsidiary, Eramet Grande Côte, and renewable-energy company JUWI South Africa Renewable Energies have closed a €30-million, or R600-million, deal to build a solar PV and battery storage solution for Eramet’s mine in Diogo, Senegal. “Sustainable mining technologies are crucial in reducing the environmental impact of industrial operations, especially as many African mining operations rely on hydrocarbon fuels owing to the continent’s limited grid infrastructure. “By integrating renewable energy and storage into mining, we reduce carbon footprints, improve operational efficiency and strengthen long-term energy resilience,” comments Eramet Grande Côte CEO Frederic Zanklan, PMP®. Read more: https://lnkd.in/d5GxAJsi #RenewableEnergy #Solar #Senegal #Investment

Chateau Gateaux (Pty) Ltd South Africa, a proud subsidiary of Dr. Oetker South Africa and renowned for its premium, handcrafted frozen cakes and desserts, is excited to announce a significant partnership with SOCO CAPITAL. Through a 25-year Power Purchase Agreement (PPA), SOCO CAPITAL will develop and install a 700kWp grid-tied solar PV system at Château Gâteaux’s production facilities, marking a major milestone in our sustainability journey. “Our handcrafted cakes and desserts bring joy to countless celebrations, and now, we’re celebrating our responsibility to the planet,” said Rogers Palamattam, Head of Supply Chain for Château Gâteaux South Africa. “This partnership with SOCO CAPITAL allows us to align our operations with our sustainability goals, ensuring that every cake we create leaves a lighter impact on the world. Renewable energy is the future, and we’re proud to lead this transition within our industry.” SOCO CAPITAL, a leader in sustainable energy solutions, shares our vision for creating a cleaner, greener world. Their expertise will enable Château Gâteaux to harness the power of the sun to produce clean energy, further strengthening our commitment to sustainability and resilience. “We are delighted to partner with Château Gâteaux South Africa on this exciting project,” said Amit Abraham, CEO of SOCO CAPITAL. “This collaboration underscores our shared commitment to renewable energy adoption and reflects our belief in building a sustainable energy future. By implementing this 700kWp solar PV system, Château Gâteaux is demonstrating true leadership in environmental stewardship.” Read more: https://lnkd.in/dUR-8GPe #RenewableEnergy #Solar #SouthAfrica #Financing