africa

AMEA Power, the Middle Eastern renewable energy company, has closed financing on 1GW of renewable energy projects to be deployed in Egypt, constituting a 500MW solar PV plant and a 500MW wind farm.

The Asian Infrastructure Investment Bank (AIIB) has joined a partnership agreement with the Egyptian government, expected to mobilise US$10 billion in investments to deploy 10GW of solar and wind by 2028.

German solar developer Juwi is in the final stages of commissioning a 36MW solar farm, accompanied by a 7.5MW battery energy storage system (BESS), at the Sukari gold mine in Egypt.

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.

Solar and wind trade bodies have united to organise the Africa Renewables Investment Summit to drive renewable energy financing in the continent.

Investors Harith General Partners and African power provider Anergi Group have partnered to establish the Pan-African Renewable Energy Fund (PAREF) to accelerate renewable energy deployment across Africa and close the continent’s investment gap.

Management firm Mirova has acquired solar finance business SunFunder in a push to expand its investment platform in emerging markets.

Solar PV will lead new capacity additions in Africa, reaching a total installed capacity of 125GW by 2030, according to a report from the International Energy Agency (IEA).

Project financing facility CrossBoundary Energy Access (CBEA) has raised US$25 million to finance solar powered mini-grids in Africa.

British energy company Savannah Energy has signed an agreement with the government of Chad for the development of up to 500MW of utility-scale renewables.