african development bank

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).

Saudi Arabian power company ACWA Power has reached financial close for its 200MW Kom Omba solar project in southern Egypt.

Solar developer ACWA Power has secured a total US$114 million from financial institutions to fund the construction of what it claims will be Egypt’s largest private solar plant.

A round-up of the latest solar project news from around the world, including updates from Hanwha Q CELLS and Capital Dynamics.

The funding will support technical feasibility, environmental and social impact studies and financial advisory for a 9MW solar-hydro plant duo being developed by Songa Energy and private investment firm Virunga Power.

AfDB's Sahel programme will sponsor the development of four 52MWp plants to help the energy-impoverished West African nation boost capacity by 15%.

Development finance duo sponsor US$154m scheme to support government of drought-stricken African nation as it deploys 100MW green energy pipeline with the help of feed-in tariffs.

The financing for the Tunisian Electricity and Gas Company (STEG) will go partly towards helping integrate renewables to the grid.

32MW Djermaya is contracted to sell power to the diesel-monopolised national utility and will mark series of debuts for African state, including its first electricity private-public-partnership.

The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) has approved a US$965,000 grant to Oxygen Energy Private Limited to support the development of a 20MW off-grid solar rooftop project atop buildings owned and managed by Old Mutual Property Group Zimbabwe countrywide.