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A rarity until a few years ago, battery and renewable power plants have more recently outcompeted fossil fuel projects without subsidy in several African markets. The AIX: Financing Battery Storage meeting heard about the extent Bess projects are making headway, despite financiers’ reservations.
Issue 446 - 23 September 2021
Kenya, Somalia, South Sudan, Madagascar, South Africa, Mali
Renewables, Power, Off-grid, Finance
The African Development Bank (AfDB) announced on 29 June that South Korea’s Ministry of Economy and Finance (MoEF) and the Export-Import Bank of Korea had signed an agreement to provide $600m to co-finance energy projects in Africa. It adds to the glut of funds targeting the African power sector, but oversupply of donor money – or undersupply of projects – is driving interest rates down and causing concern amongst financiers.
Issue 442 - 08 July 2021
Politics, Power, Finance, Renewables, Off-grid
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