africa

Renewable energy is now a competitive alternative to fossil fuels, and more than 800 coal plants in smaller economies could be replaced by PV.

This week, a number of solar developers have raised funds for a number of projects, including Sonnedix in Europe and Origis in the US.

Mini-grids are expected to play a crucial role in achieving complete electrification in Sub-Saharan Africa.

Masdar plans to develop including over 6GW of new solar capacity and 4GW of new solar manufacturing capacity in Egypt.

The EAAIF, FMO and DEG have invested €84 million (US$89.2 million) into AXIAN Energy’s Kolda solar-plus-storage portfolio in Senegal.

Scatec has published its latest financial results, which include revenues of NOK2.97 billion (US$270 million) in the third quarter of 2024.

A surge in rooftop solar has helped resolve load shedding in South Africa, but this has led to a decline in the demand for residential PV.

Sonangol and Qinghai Lihao Clean Energy plan to build a polysilicon plant, which will produce PV modules made of quartz ore, in Angola.

Construction of the cell plant in Ethiopia is expected to start in November 2024, with the start of production aimed at the end of the first quarter of 2025.

DNV's report shows that 2024 is a landmark year, but the energy transition still faces financial and political headwinds.