The World Bank announced last week that its Board of Executive Directors approved the Second Energy Sector Project, which will help strengthen Mongolia’s electric grid and develop a 10MW installation within the country.
New York-based fixed tilt and solar racking manufacturer GameChange Solar has expanded its capital introduction programme to fund solar projects across the US to over US$2 billion of available capital.
Renewable energy is indeed the future, according to Bloomberg New Energy Finance’s latest report, which forecasts technologies such as wind and solar to “dominate” the future of electricity by 2040, making up 48% of the world’s installed capacity and 34% of electricity generation.
Solar module technology provider Solaria and CleanFund Commercial PACE Capital – the leading Commercial Property Assessed Clean Energy (C-PACE) financier – have announced a partnership on building-integrated solar (BIPV) known as SolarPACE.
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.
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.