Whilst African solar is still firmly an emerging market, investors have confirmed that issues remain with development finance, insofar as it is holding back the market from truly taking off. Whilst development finance institutions (DFIs) are a crucial part of allowing the market to find its feet, the continent’s economic infrastructure needs to move beyond the realm of development finance for commercial financiers to be enticed.
Recently, PV Tech sat down with David Zhao, senior vice president at Sungrow Power Supply and president of the company’s PV & storage division, to gain an insight into the company’s market expectations for 2017, notably outside China, and understand key market and technology trends within the APAC and South East Asia regions, areas that have been key to its continued growth in recent years.
Spanish IPP Alten Energías Renovables has won the tender issued by NamPower, Namibia's state electricity company, to develop, construct and operate what will be the largest PV project in Namibia and Sub-Saharan Africa outside of South Africa.
Emerging market project developer, owner and operator Access Power has announced the shortlist of winners for financing under its Access Co-Development Facility (ACF) fund, with solar forming the largest share of projects.
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.
News in Brief: Vivint Solar is taking advantage of Rhode Island's optimal residential solar conditions and expanding into the state, BBOX and Aeris are partnering to provide plug-and-play solar systems with IoT connectivity in East and Central Africa, Sri Lankan energy ministers are allocating funding to install solar systems in selected public buildings and India's Space Research Organisation has developed a new solar app for Android.
The US Trade and Development Agency (USTDA) is continuing its mission of funding priority development projects in emerging economies, this time by signing two grants that leverage US technology and investment to increase access to affordable, reliable electricity in Kenya.
Ecoligo is a Berlin-based crowdfunding start-up for solar projects in Africa’s commercial and industrial (C&I) market. Even though it is a company still very much in its infancy, it is already making waves by providing competitive alternatives to traditional bank loan products and connecting German private investors to tailored off-takers.
A 50MW grid-tied solar PV plant in Nigeria’s Kaduna state has been selected as one of the winners for financing under Access Power’s Access Co-Development Facility (ACF) fund – the first crowdsourcing origination platform of its kind that provides funding to local developers.