Renewables are set to contribute 80% of new power capacity to 2030 in the stated policies scenario (STEPS), with solar PV alone accounting for more than half of it, according to the International Energy Agency (IEA).
The International Financing Corporation has signed a deal with Moroccan state-owned phosphate mining and fertiliser producer OCP Group to partially finance 400MW worth of solar PV.
Canadian-headquartered solar-plus-storage developer Watt Renewable Corporation has secured a US$13 million investment to deploy hybrid corporate & industrial (C&I) solar solutions across Nigeria.
As Europe is increasing its solar PV capacity to reach its goal in the REPowerEU plan, countries in the bloc are accelerating solar PV installation. But some EU countries also look at the solar potential in North Africa, as the region boasts better solar irradiance and longer sunshine hours.
UAE-based renewables developer AMEA Power has reached financial close on a 120MW solar PV project in Tunisia, the company’s first foray into the country.
