Colorado-based mini-grid specialist Husk Power has secured more than US$100 million in equity and debt funding aimed to grow its community solar mini-grids in rural sub-Saharan Africa and South Asia.
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.
Ghana will look to deploy around 150GW of solar PV capacity to achieve its net zero emissions target by 2060, a plan that represents US$550 billion in investment opportunities for companies and other nations
Clean energy investment across Africa has to double the current US$90 billion target by 2030 and reach nearly US$25 billion per year, according to a report by the International Energy Agency (IEA) and the African Development Bank Group (AfDB).
