Inspired Evolution has signed off on a deal to invest up to US$36 million in Alten RE Developments Africa, the Sub-Saharan African subsidiary of Alten Energías Renovables.
The platform will look to grow off-grid energy service companies spanning solar home systems, large solar, and metering applications such as pumps and mini-grids.
The West African Development Bank (BOAD), Emerging Africa Infrastructure Fund (EAIF), the National Bank of Agricultural Development of Mali (BNDA), Green Africa Power (GAP) and GuarantCo have agreed to finance a 50MW PV project in Mali.
Africa’s largest private equity firm has led a round of financing for Off Grid Electric to fuel the microgrid provider’s expansion in the continent, with investors including an arm of General Electric (GE).
InfraCo Africa has partnered France-based developer Solvéo Energie by committing up to US$3.1million for a 45% equity interest in the development of a 40MW solar project in the Republic of Guinea.
A five-point Plan has been devised by The South African Photovoltaics Industry Association (SAPIA) to support development starting, with a target of building 1.5GW of PV annually.
Private equity asset manager Apis Partners and its partners will provide US$60 million in funding for Greenlight Planet — a provider of off-grid solar products and financing to underserved rural populations across Africa and Asia.
African safari lodges are increasingly taking up solar and storage options, not only to minimise environmental impacts of diesel generators, but also to improve power supply reliability, which can affect customer reviews for these holiday lodges.
