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.
In conjunction with its New Deal on Energy for Africa, the African Development Bank has committed US$324 million in loan support for a pair of renewable projects in Africa, setting aside US$265 million for an 800MW PV and CSP hybrid project in Morocco.
The president of African Development Bank (AfDB), Akinwumi Adesina, arrived in Burkina Faso’s capital city of Ouagadougou and pledged to financially support a 50MW PV portfolio to electrify rural areas within the country, per AllAfrica.com.
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.
In this week's Movers & Shakers segment, PV Tech focuses mainly on executive shifts in US solar companies involved in storage, trackers, residential loans and more. The African Development Bank is also revamping its management board, with a new head of Renewables.