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The Green Climate Fund (GCF) has approved a proposal by the African Development Bank (AfDB) for a $20m senior loan and $1m grant for a green mini-grid programme in the Democratic Republic of Congo (DRC). The AfDB is matching the package, bringing the combined funding to $42m. The loans will finance three pilot solar photovoltaic and battery-powered mini-grids with diesel back-up expected to cost a combined $87m to develop, according to the project documents.
The UK’S Renewable Energy Performance Platform (REPP), part of the Department for Business, Energy and Industrial Strategy, on 11 December announced that it had signed an agreement to invest £1m ($1.3m) of equity in renewable-powered battery rental company Mobile Power. The investment was part of a £2m series A funding round.
The Beyond the Grid Fund for Africa (BGFA) will launch a call for proposals from micro-grid developers in Mozambique later this month. BGFA will provide total funding of €6.7m ($8m) to projects over a four-year period. The projects will be developed under a pilot licensing framework developed by Mozambique’s Energy Fund.
Energy developer Cenfura has announced a joint venture with London-based DNA Global Energy to develop energy projects across Africa. The agreement is primarily a financial one which will extend Cenfura’s line of credit for project developments across the continent. The joint venture’s first project will be 14 solar PV mini-grid systems in South Africa which will be jointly developed and owned by both companies, Cenfura’s chairman and founder Pasi Nieminen told African Energy.
Russia’s Nordgold Group has confirmed that the 33MW HFO plant it is building to power its Lefa mine in the Kankan region of Guinea will be commissioned by the end of 2021
The World Bank Group’s Multilateral Investment Guarantee Agency (Miga) has issued guarantees worth up to $37.1m to African Infrastructure Investment Managers’ (AIIM) African Infrastructure Investment Fund 3. It will cover AIIM’s investment in solar home system (SHS) company Bboxx’s operations in Democratic Republic of Congo (DRC), Kenya, and Rwanda for up to ten years.
The 10MWp Adams solar PV plant is expected online in September, construction began in January following the approval of an amended generation licence from the National Energy Regulator of South Africa in December.
Miner Goviex Uranium chief executive Daniel Major told African Energy that work on the 20MW Madaouela Mine solar PV and diesel hybrid plant near Arlit, in the Agadez region, had been postponed.
Norfund has invested €10m ($11.6m) equity in solar home system (SHS) distributor Baobab+, which is active in Côte d’Ivoire, Madagascar, Mali and Senegal, where it has supplied some 220,000 households.
Local developer OnePower is awaiting financial close on its $10m Lesotho Highlands mini-grid project, pending an appraisal process by exchange control regulator the Central Bank of Lesotho (CBL), chief executive Matthew Orosz said.
The InfraCredit credit enhancement facility, sponsored by Nigeria Sovereign Investment Authority (NSIA) and the UK’s GuarantCo, has announced that it will partner with the British government on a £10m ($13.6m) programme to spur investment in off-grid renewable energy projects.
The World Bank Group (WBG) has tendered for a consultant to carry out preliminary studies for a 15MW solar PV plant in Danzi. The work – scheduled to take four months – is funded by the WBG’s concessional International Development Association through the Avance de Préparation du Projet d’Amélioration et de Renforcement du Secteur de l’Electricité (Parse). The power will be sold to the capital Bangui. For further details visit the WBG website.
Natixis Investment Managers affiliate Mirova has acquired off-grid renewables debt specialist SunFunder, as part of a plan to build up its African portfolio.
