Africa

At the United Nations COP27 conference, the European Investment Bank (EIB) and AllianzGI have announced the mobilisation of US$100 million to Alcazar Energy Partners II, a fund which facilitates the development, construction and operation of renewable energy projects in the Middle East, North Africa, Eastern Europe and Central Asia.

The European Investment Bank (EIB) and the Development Bank of South Africa (DBSA) have launched a financing programme to support €400 million (US$413 million) worth of renewables investment in South Africa.

The Energy Transition Accelerator Financing Platform (ETAF) has gained three new partners this week at the United Nations COP27 conference in Egypt. The Asian Infrastructure Investment Bank (AIIB), Masdar and Swiss Re all signed partnerships on site in Sharm-El-Sheikh.

Bank of America and CrossBoundary Energy will explore financing solutions to expand the latter’s renewable energy portfolio across Africa, the commercial and industrial (C&I) solar developer announced at the COP27 conference this week.

Talesun, the Chinese-headquartered solar manufacturer, and South African company ARTSolar have commenced operations at a 325MW PV module manufacturing facility.

The World Bank has approved funding for a US$497 million renewable energy project in South Africa that will see 150MW of solar and 70MW of wind capacity installed in place of the coal-fired Komati power plant.

Independent power producer (IPP) Scatec targets to invest NOK10 billion (US$946 million) of equity for new renewable power plants through 2027.

South African public utility Eskom has signed lease agreements with four independent power producers for the production of renewable energy.

Voltalia has signed a corporate power purchase agreement with mining company Richard Bay Minerals, subsidiary of Rio Tinto, in South Africa.

Anglo American and EDF Renewables have partnered to form a new jointly owned company, Envusa Energy, to develop renewables projects in South Africa.