• EDP will focus on the Just Energy Transition through a more focused social investment strategy aligned with its purpose;
• All projects will be framed under a new common identity – EDP Y.E.S. – You Empower Society, a global brand across all countries where EDP invests in social impact initiatives;
• EDP’s ambition is to invest annually more than 30 million euros and a new area will ensure the global strategy and coordination;
• The launch of the 4th edition of the A2E (Access to Energy) fund – which supports clean energy access projects in developing countries – is one of the initiatives to go ahead with doubling the amount of funding in previous editions.

11 April 2022: With the main focus on Just Energy Transition, EDP will invest in initiatives to combat energy poverty, promote access to energy and energy efficiency, and implement solutions for access to solar energy or electric mobility. EDP is committed to investing more than 300 million euros by 2030 through a new global social investment program that will develop, promote, and coordinate the different initiatives in this area.

EDP thus demonstrates its commitment to accelerate decarbonization and achieve carbon neutrality, but without leaving anyone behind. These initiatives to promote a just energy transition are expected to represent around 45% of total investment by 2030.

In parallel, EDP maintains access to Culture as a key axis of its social strategy. The group has a long history of investment in this area, which is reflected in its role in assets such as the MAAT, the Tejo Power Station and the Portuguese Language Museum in Brazil, and believes in the importance of culture for the development of societies.

All social projects developed in the group will, from now on, have a new common identity – EDP Y.E.S. – You Empower Society – a global and transversal brand that will allow us to tell an integrated narrative about EDP’s various social projects, highlighting their positive impact on society.

The investment, over 30 million euros per year, will be made through different vehicles, such as the foundations in Portugal, Spain and Brazil and the different business units.

“The climate emergency demands ambition, commitment and a collective effort towards a fair and faster energy transition. No one should be left behind and that is why EDP is reinforcing its commitment to a more ambitious social program with greater impact on communities. We want to do it through initiatives to fight energy poverty and ensure access to energy, while promoting education and culture. At EDP, we’ve made it our mission to bring positive change, and I am confident that Y.E.S. is an important contribution to achieving this goal”, says Miguel Stilwell d’Andrade, CEO of EDP.

Strategy with new global coordination

In 2022, the planned actions include the Futuro Ativo Sines (Sines Active Future) program, an example of projects to reconvert thermoelectric power plants into green energy production centers, with support for sustainable entrepreneurship initiatives, training in renewable energies or improving energy conditions for families.

Another of the planned initiatives involves promoting solar solidarity in different countries through the Foundations in Portugal, Spain (with Fundación EDP) and Brazil (with Instituto EDP), which consists of providing photovoltaic panels for energy production to NGO’s, families or more vulnerable groups.

With the new strategy, EDP also assumes the fight against energy poverty and the promotion of energy efficiency in poorest communities as one of its priorities. In Spain, several projects have already been launched in this area, with similar initiatives planned for Portugal this year with an overall investment of more than one million euros. Additionally, EDP has strengthened its partnership with the NGO Just a Change, with which it has collaborated since 2018 in the fight against energy poverty.  

In addition to the reinforced investment, a Social Impact Coordination Office (SICO) was set up to maximize the EDP Group’s social impact by defining the global strategy and coordinating social projects in the different countries and areas of activity, including volunteer work and partnerships with other entities.

A2E Fund doubles funding for projects in Africa

The focus on projects that promote access to clean energy in developing countries is another commitment that is reinforced by EDP’s new social impact strategy. Created in 2018, the A2E Fund (Access to Energy) launches its fourth edition this Tuesday, April 12th, with double the amount of funding: one million euros to support projects in five African countries – Mozambique, Nigeria, Malawi, Angola and Rwanda.

Besides the reinforcement of the global amount, the value to be attributed per selected application is also increased to an amount that can go from 50 thousand to 150 thousand euros. It is a significant change that will allow the development of more robust projects with greater impact on communities, both in the number of organizations supported and in the number of people benefited.

The application phase, that has just started through the EDP website, ends on May 16th, and the results will be announced at the end of the year. In the last three editions, the A2E Fund has allocated 1.5 million euros to 20 projects, generating direct and indirect benefits for more than one million people in seven African countries.

12 April 2022: Hybrid 90kW mini-grid connects households and small businesses to clean, reliable power | Launch directly impacts 1,500 people in Niger State | Inauguration attended by African government and energy industry dignitaries.

ENGIE Energy Access, a leading provider of solar homes systems and mini-grid solutions, has inaugurated its hybrid 90kW mini-grid to connect unelectrified households and small businesses in Nigeria.

With this mini-grid, ENGIE Energy Access connects the people of Gbangba community in Niger State to an electric power supply for the first time ever and empowers over 300 customers, comprising households, and micro and small enterprises (MSEs). The mini-grid directly impacts over 1,500 people by providing them with affordable, reliable and clean electricity.

The mini-grid was formally inaugurated today in the presence of Commissioner of Works and Infrastructure, Honourable Mamman Musa, who acted as representative for the Executive Governor of Niger State, His Excellency, Alhaji (Dr) Abubakar Sani Bello, and the Ambassador of France to Nigeria, Her Excellency, Mrs Emmanuelle Blatmann, during the launch event attended by dignitaries from the Nigerian government, power sector, traditional institutions, youth, media and the local community.

Speaking at the launch, Bankole Cardoso, the Managing Director of ENGIE Energy Access Nigeria, said that Nigeria’s electricity challenge remains a huge gap that needs to be filled in the country’s journey to fulfill its full potential as a nation.

Cardoso said that the power challenge in Nigeria requires the support of the private sector, and the construction of the Gbangba mini-grid demonstrates how private investment can help to address the infrastructure gap in the energy industry.

Cardoso added: “This mini-grid will foster socio-economic development and prosperity in the Gbangba community, its people and its neighbors. It will serve private households and commercial businesses – provision shops, grocery sellers, bakeries, mobile phone chargers etc. It will boost the productivity of farmers and food production by powering agricultural loads such as irrigation pumping and cold storage, productive loads such as grind mills and wood or metal working shops, and semi-industrials such as telecom towers and processing plants.”

Gillian-Alexandre Huart, CEO of ENGIE Energy Access, said that this mini-grid is not only a win for Gbanga community but a win for Nigeria at large, as it demonstrates ENGIE Energy Access’s strong commitment to meeting the growing decentralized energy needs with an ambition to build 100+ mini-grids throughout the country.

“The launch of our first mini-grid in Nigeria means that we have now installed mini-grids in five African countries, with other ENGIE Energy Access mini-grid sites in Benin, Uganda, Tanzania and Zambia. Our plan is to further expand our mini-grid business on the continent over the coming months and years – adding other countries to our footprint,” said Huart.

“The launch of the Gbangba mini-grid is a further demonstration of ENGIE Energy Access’s commitment to improving the quality of life and economic potential of people in rural communities, by increasing their capacity for productivity.”

Sub-Saharan Africa has the world’s lowest energy access rate, with more than half of its people unconnected to electricity. In Nigeria, about 43.5% of people live without access to energy. This presents an opportunity to employ grand-scale innovation and the intervention of renewable energy solutions within the electricity sector in Nigeria.

12 April 2022: Solar Sister illuminates the lives of three million people in sub-Saharan Africa with solar products.

The Solar Sister network of women entrepreneurs has brought clean energy to three million people. Now three million more people can breathe easily, their children can study at night and get a better education, and their day doesn’t end when the sun sets. Communities are thriving, and women, in particular, are safer and have a better chance for equality. Access to energy is a crucial element of social equity and poverty alleviation.

“Without the solar lights, our health clinic relies on mobile phone light. We were virtually unable to treat patients at night. This makes it especially difficult for expecting mothers to deliver in our clinic at night”. - Dr. Crispian Ndibalema, a leading physician at Mafuleta Clinic, Tanzania.

Delivering access to energy to people in underserved communities opens up economic opportunities for women and has a positive impact on the women, their families, their communities, and even the world at large. When women have more agency they make better choices for their lives, including caring for their families and communities. When they have income of their own they invest in better education for their children, better healthcare for themselves and their families, and accumulation of savings to build resilience.

Solar Sister invests in women’s leadership and enterprise in off-grid communities. By engaging with women who deeply understand their communities, Solar Sister reaches people who have been missed by business-as-usual energy models. Centering women as leaders in the growing clean energy sector is essential to eradicating poverty and achieving sustainable solutions to the climate crisis and many development issues.

Nanbet is a young maize farmer and single mother raising five children in a rural Nigerian village with no electricity. She’s one of 6,800 entrepreneurs trained and supported to run clean energy technology businesses. Since Nanbet started her business, she’s brought in enough income to stop laboring on other people’s farms. She earns an income to provide for her family and says people see her differently now that she is a businesswoman.

“Before, my life wasn’t like this. People have since been surprised to see my children and me with meat on our bones, looking healthy. With the profits from selling solar lamps, I paid for two grandchildren to go to school”.

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About Solar Sister: Solar Sister drives impact by investing in women’s clean energy businesses in off-grid communities in Africa. Solar Sister eradicates extreme energy poverty by empowering African women with economic opportunity, providing essential services and training that enable women entrepreneurs to build sustainable businesses. Solar Sister is a climate solution that also improves human well-being, boosts equity, and helps usher in prosperity for people in sub-Saharan Africa who are least responsible for the climate crisis. To date, over 6,800 Solar Sister Entrepreneurs have reached over three million people with clean energy access. Products sold by Solar Sister Entrepreneurs have eliminated over 946,763 metric tonnes of CO2 emissions.

13 April 2022: Easy Solar, a leading last mile distribution and asset financing company that sells solar systems, productive appliances & consumer electronics, has secured a USD 5 million senior secured debt facility to expand its reach across Sierra Leone. The funding was advanced in local currency by the Facility of Energy Inclusion’s Off-Grid Energy Access Fund (“FEI-OGEF”, managed by Lion’s Head Global Partners Asset Management (“Lion’s Head”) and with support from The Currency Exchange Fund (”TCX”), that provided the hedging instrument.

Easy Solar began operations in 2016, focusing on solar-powered lanterns and home systems for low income, rural customers without access to electricity. The facility will enable Easy Solar to continue to finance its core range of solar products and deepen penetration across rural communities in Sierra Leone.

In 2020, the company expanded its “Buy Now, Pay Later” model to finance a wider range of energy efficient appliances and consumer electronics, which includes smartphones, cookstoves and appliances such as TVs, fans and freezers. Through its extended distribution network and innovative partnerships (local banks, government-backed payroll deduction for civil servants, and mini-grid companies), Easy Solar addresses the needs of both off-grid and on-grid customers looking for reliable, life-improving products. Since 2021, Easy Solar has also been catering to the needs of larger residential, commercial and industrial customers through its “Power Solutions” business unit and is on track to have installed over 1.5MW of power by the end of 2022.

According to Alexandre Tourre, co-founder and CEO of Easy Solar, “Despite the challenges of a global pandemic, Easy Solar grew by more than 300% between 2019 and 2021, demonstrating the scale of the demand for energy access, reliable backup power and affordable consumer electronics in West Africa. Access to affordable local currency debt financing has been one of the main constraints to accelerating our expansion in our core markets and beyond. The partnership with FEI-OGEF will allow us to strengthen and simplify our balance sheet while bringing access to energy to hundreds of thousands of people in Sierra Leone.”

FEI-OGEF was set up by the African Development Bank (“AfDB”) as part of its New Deal for Africa initiative. In addition to the investment by the AfDB, FEI-OGEF received equity funding from KfW, the Nordic Development Fund (“NDF”) and All On. The AfDB also invested on behalf of the Global Environment Facility and the European Commission.

Commenting on the investment, Alix Graham, Fund Manager for FEI-OGEF at Lion’s Head said, “I am excited to see and support the continued growth of the Off-Grid sector in Sierra Leone. With access to energy in Sierra Leone sitting at around 23% of the population, it is imperative that companies like Easy Solar can scale. We were impressed by Easy Solar’s strong management team that has successfully steered and grown the company over the past five years, and we look forward to seeing continued growth. To help support their business, we were able to structure a facility that provides access to local currency funding, which will, in turn, help them manage their foreign currency risk and ultimately provide affordable products, at scale, to reach more off-grid households in Sierra Leone.“

Power Africa provided legal support and technical advice to Easy Solar for the debt transaction with FEI-OGEF, assisting with negotiations and the review of guarantee documents through a team from Norton Rose Fulbright.

Ruurd Brouwer, CEO of TCX: “We are delighted to have supported this debt transaction in local currency for Easy Solar in Sierra Leone together with our long-standing partner Lion’s Head. TCX is committed to support the off-grid energy sector by de-risking local currency transactions for our clients and their investees. Through this facility, Easy Solar can expand its business in Sierra Leone and provide more households with access to energy without having to bear foreign currency risk.”

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About Easy Solar: Founded in 2016, Easy Solar is a last-mile distribution company and asset financier making high quality energy products affordable & accessible. As of March 2022, the company powers the lives of 750,000 people in Sierra Leone and Liberia. Easy Solar has invested in the deployment of more than 470 points of sales in communities, and is capable of handling physical inventory and to receive cash transactions. To ensure its products are affordable to most, Easy Solar allows customers to pay overtime through a “Buy Now, Pay Later” financing structure enabled by pay-as-you-go technology. For most of its customers who remain unbanked, this is their very first step toward financial inclusion.

Easy Solar has over 300 full time staff across Sierra Leone and Liberia, with 50% of women in senior management. In 2019, Easy Solar was awarded Social Entrepreneurs of the Year by the Schwab Foundation and World Economic Forum for its commitment to advancing SDG7 in last mile communities, ensuring no-one is left behind in the clean energy transition. For more information, visit: https://www.easysolar.org.

About Lion’s Head: Lion’s Head is a specialized investment bank based in London, Lagos, Nairobi, New York, Dubai and Amsterdam, which provides financial advisory and investment management services across a range of sectors, including agriculture, energy, financial services, and infrastructure with a focus on innovative ways to increase capital markets engagement for businesses and governments in sub-Saharan Africa. As a fund manager, Lion’s Head AUM is approximately $600m . In addition to the Off-Grid Energy Access Fund, Lion’s Head is the fund manager for the parallel FEI On Grid facility, offering debt on a project finance basis to developers, IPPs and other renewable energy platforms in Africa, the Africa Go Green Fund (AGG) that provides debt funding to energy efficiency and renewable energy businesses in Africa, and the African Local Currency Bond Fund (ALCBF), created by KfW and supported by FSDA and various DFI and private investors to anchor public debt issuances.

About TCX: TCX is a global development finance initiative structured as a fund that counts among its shareholders FMO, IFC, EBRD, EIB, KfW and AFD together with the Dutch, Swiss, British and German governments and the European Union as first loss providers. TCX offers medium- to long-term cross-currency swaps and FX forwards to hedge 100+ currencies where such products are not available or poorly accessible. TCX started its operations in 2007 and has since then provided hedging instruments with a total volume of USD 8 billion, spread over 3,000 transactions in over 60 currencies. Today, the fund has a total exposure of over USD 5 billion on 55 frontier market currencies. For more information, visit www.tcxfund.com.

13 April 2022: Speaking last week at the Smart Energy Forum in Lagos and Abuja in the presence of Nigeria’s top energy decision-makers, senior energy experts from Wärtsilä presented the latest results of an in-depth study which models the most cost-effective and reliable energy mix that can be built each year in Nigeria.

Nigeria is the largest and one of the fastest growing economies in Africa, yet despite a wealth of natural resources, the country continues to struggle with acute electricity shortages, which constrain its economic development. To combat this, last year the Nigerian government formally launched “the Decade of Gas”, setting gas development and utilization as a national priority. Identifying the most cost-effective and sustainable power generation strategies was the theme of this week’s Smart Energy Forum in Lagos.

Modelling long-term energy system solutions 

One of the highlights of the event was the presentation of Wärtsilä’s most recent 2022 to 2040 Analysis of Nigeria’s National Power System, using the advanced Plexos modelling tool to quantify system level benefits of different technologies in the Nigerian power system. The model is used to analyse and identify the optimal capacity expansion for the country.

The model shows that the country requires more aggressive capacity additions than the current situations, referred as business-as-usual scenario, in order to achieve the country’s stated 30-30-30[1] vision. But looking beyond 2030, and by mapping the country’s solar and wind potential for renewable energy, together with transmission data from five major regions, an advanced 30-30-30 scenario can be envisaged which would generate additional power and significant cost savings.

This advanced scenario recommends the installation of 45 GW of low-cost renewables in the north and west of the country by 2040, while concentrating 43 GW of gas-fired internal combustion engine (ICE) power plants in the southern regions with access to low-cost locally sourced gas. Strengthening the transmission capacity between north and south will greatly benefit the central regions as well.

As more capacity is added to the system, the cost of electricity is predicted to fall drastically within the first years, as locally sourced gas fuels more cost-efficient gas power generation to overtake expensive diesel. With the advanced scenario, cumulative saving to 2040 of up to $430 billion can be achieved when compared to the business-as-usual scenario.

A flexible solution to meet the needs of the Nigerian market 

For Wärtsilä, the choice of power generation technology is as important as the choice of fuel. In a system that maximizes the use of low-cost renewables, being able to rely on flexible power technologies becomes paramount.

In this context, ICE power plants become the technology of choice because they are flexible by design. They have a high operating efficiency, even at partial load, and are made to cope with regular start and stops. On the other hand, combined cycle gas turbines (CCGT) lack the flexibility to match the fluctuations in electricity demand. They rely on a consistent and pressurised gas supply and are most efficient when operated close to full capacity. They are not suited to offset the intermittent supply of renewables.

Detailed technology comparison between CCGT and ICE power plants show that for an equivalent 350 MW plant running 8,000 hours per year, Wärtsilä’s solution saves between 11 to 17 million US dollars per year compared to CCGT solution, thanks to its better performance in hot climates, better part-load efficiency and lower investment cost.

But there is more. Flexible ICE power plants offer several other advantages relevant in Nigeria. Thanks to their modular design, ICE power projects are easy to construct, fully scalable and can be deployed in phases. They can be ramped-up or down quickly to adjust to demand, and also provide a great hedge against fuel supply risk, as its engines can be operated on natural gas, Diesel, HFO or biofuels. What is more, they require little water to operate: Their water consumption is less than 1 % compared to the CCGT technology.

Today, Nigeria’s electricity system faces a perfect storm. Small, inefficient, expensive, and polluting diesel generators are widely used to compensate for weaknesses in the country’s grid capacity. Despite recent improvements, the gas supply system is not fully stable, which places additional strain on country’s still fragile electricity network.

Wärtsilä is convinced that building flexibility into the system by investing in gas engine power plants can provide a stable and reliable long-term solution to Nigeria’s energy challenges. As Wale Yusuff, Managing Director of Wärtsilä M&P Services Nigeria Ltd, concluded at the end of the event: “It is clear that IPPs can provide an important source of investment for new power projects. A prototype has been established and electricity tariffs are crystalizing at a fair price for the Nigerian economy and for consumers. At Wärtsilä, we understand the need to be innovative and mindful regarding off-take and financing. With flexibility and reasonably sized projects, we are convinced that together with our Partners and Stakeholders, we can generate sustainable power with improved impacts for the environment and the economy of Nigeria.”

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About Wärtsilä Energy: Wärtsilä Energy leads the transition towards a 100% renewable energy future. We help our customers in decarbonisation by developing market-leading technologies. These cover future-fuel enabled balancing power plants, hybrid solutions, energy storage and optimisation technology, including the GEMS energy management platform. Wärtsilä Energy’s lifecycle services are designed to increase efficiency, promote reliability and guarantee operational performance. Our track record comprises 74 GW of power plant capacity and more than 80 energy storage systems delivered to 180 countries around the world. For more information, visit: https://www.wartsila.com/energy.

About Yusuff Wale: Yusuff Wale is the Managing Director, Wärtsilä Nigeria. Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. He is a seasoned professional in Management, Sales, Marketing and Business Development in the Nigerian Oil and Gas and Power Industry. He started his career as a process engineer in one of the Nigerian Petroleum Oil Refineries. Over the years, he has been actively involved in large transactions of Turbo-Machineries into major FPSO projects in Nigeria as well as Internal combustion engines for both Industrial and Captive Independent Power Plants. He has presented technical papers at both local and international Oil, Gas and Power Conferences. He holds a MSc. and Bachelor of Engineering degrees in Chemical Engineering from the prestigious University of Lagos and Federal University of Technology, Minna, respectively. He has attended many trainings both in Nigeria and abroad. He is a corporate member, Nigeria Society of Engineers (MNSE).

13 April 2022: The Beyond the Grid Fund for Africa (BGFA) has signed its first agreement in Burkina Faso with Oolu Burkina Faso to support the scale-up of high-quality solar home systems for people living in rural areas of Burkina Faso and improve energy access in these areas.

The company will provide energy solutions and services, including various solar home systems and large standalone systems for residential, commercial and institutional customers in Burkina Faso. These solutions reduce greenhouse gas emissions, decrease indoor air pollution and increase the reliability of power supplies for customers in remote areas. The total value of the contract is EUR 2.5 million, with a total project budget of at least EUR 5 million.

“This first BGFA contract reinforces Sweden’s commitment to Burkina Faso and the importance of supporting the development of the country’s energy sector. Burkina Faso is beset by security problems and is experiencing difficult times. Over 60% of its young and dynamic population does not have access to electricity. The private sector plays an important role in helping the country achieve its ambitions, particularly with regard to access to sustainable energy. Mobilising financing through innovative mechanisms such as BGFA, will help to scale up affordable and sustainable energy solutions in the country,” commented Maria Sargren, Swedish Ambassador to Burkina Faso.

Oolu is a company that has been developing solar home systems for the African market since 2015 and is today active across six West African countries. The Burkina Faso subsidiary was established in 2018 and is the leading company in the country selling PAYGO-based renewable energy services. With the support of BGFA, Oolu will scale up its current business activities in Burkina Faso, aiming to establish over 28,000 additional subscriptions over a four-year period by providing solar home systems for lighting, mobile phone charging, TVs, fridges and freezers as well as power sources for commercial customers.

“We are thrilled to collaborate with BGFA to further scale up our business activities. In recent years, many communities in Burkina Faso have endured worsening economic, security and climate conditions. With the support from BGFA, we can improve people’s lives in these underserved communities by providing modern and renewable energy access at affordable rates, often for the very first time,” said Dan Rosa, Co-Founder and Chief Executive Officer at Oolu.

With the BGFA funding, Oolu will expand its operations across eight regions where it is already operating: le Centre, la Boucle du Mouhoun, les Cascades, les Hauts Bassins, le Sud Ouest, le Centre Est, le Centre Ouest and l’Est, as well as commence operations in four additional regions. It is estimated that the project will help to bring clean off-grid energy solutions and lighting equipment to over 27,600 households and over 560 businesses and institutions. In the long term this will enable a higher standard of education and create numerous new employment opportunities in the country.

“We are very pleased to announce our first project in Burkina Faso, which will support access to clean energy solutions in several regions across Burkina Faso and is estimated to benefit over 155,000 people,” commented Dennis Hamro-Drotz, Senior Programme Manager at Nefco.

The Beyond the Grid Fund for Africa opened its first funding round in September 2020, in Burkina Faso, Liberia and Zambia (BGFA1); it also opened two more funding rounds, in Mozambique (BGFA2) and Uganda (BGFA3), in spring 2021. The facility is currently concluding the first round of funding and, in addition to the initially announced contracted companies in Liberia and Zambia, further supported projects in Burkina Faso, Liberia and Zambia are expected to be announced during spring 2022.

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About BGFA: The Beyond the Grid Fund for Africa is a multi-donor facility established and managed by the Nordic Environment Finance Corporation (Nefco). Nefco is an international financial institution based in Helsinki, Finland, focusing on environmental and climate investments. BGFA is implemented in partnership with the Renewable Energy and Energy Efficiency Partnership (REEEP), an international multilateral partnership based in Vienna, Austria, working to accelerate market-based deployment of renewable energy and energy-efficiency solutions in developing countries.

The current EUR 107.6 million BGFA programme was established in 2019 on Sweden’s initiative through the Swedish International Development Cooperation Agency (Sida). Sweden contributes SEK 835 million (EUR 80 million) from the Swedish embassies in the target countries. It has since been developed by Nefco into a multi-donor programme. Denmark, through the Ministry of Foreign Affairs, joined the BGFA programme in December 2020 and is now providing DKK 117.5 million (EUR 15.8 million) to support the programme in Uganda. Power Africa, an initiative administered by USAID, is providing an in-kind technical assistance contribution worth USD 4.5 million (approx. EUR 4 million) over three years to help operationalise the initiative and develop a pipeline of commercially viable projects within the framework of BGFA. Germany, through its development bank KfW, has joined the BGFA country programme for Zambia with a focus on mini-grids, providing EUR 7.5 million.

19 April 2022: The Konrad-Adenauer-Stiftung (KAS) and the Alliance for Rural Electrification (ARE) have formed a partnership to demonstrate the potential of decentralised renewable energy (DRE) to generate green jobs in the West African region.

According to the International Labour Organization, young men and women between the ages of 15 to 24 comprise 34% of the working-age population in Sub-Saharan Africa, with youth representing 10-20% of those unemployed. DRE can act as a prime catalyst for green job creation in Africa and beyond, creating direct green jobs in manufacturing, assembly, distribution & sales, operations & maintenance, as well as derived jobs in related sectors relying upon a stable source of electricity, such as rural agricultural industries and fisheries.

With increased support for the green recovery after the COVID-19 pandemic, especially towards long-term skills development programmes, the DRE sector can thus be a gamechanger, creating jobs for millions of people, especially in Sub-Saharan Africa. The creation of these new and enhanced jobs will boost GDP, support local socio-economic development, lighten the workload in various sectors such as agriculture, and contribute to long-term sustainability by fostering skills development across the workforce.

In this regard, the partners will team up to reinforce evidence based data of DRE to massively boost job creation at scale in West Africa. They will work together to identify the job creation potential of DRE in the region and disseminate the findings to key stakeholders, particularly policymakers and international funding partners.

David Lecoque, CEO of ARE underlined that: “We are thrilled to enter into this partnership with KAS focusing on DRE job creation in West Africa. As the least-cost electrification option for most missing connections, DRE provides rural and peri-urban communities with sustainable and clean electricity services while catalysing socio-economic development, local green job creation and effectively addressing climate change. By 2030, ARE strives to enable the private sector to catalyse the creation of more than 5 million green jobs.”

Anja Casper-Berretta, Head of Regional Program for Energy Security & Climate Change in Sub-Saharan Africa of KAS said that: “Climate change remains one of the biggest challenges of our time. At the same time, economic growth is a development priority for the African continent. KAS is therefore glad to partner with ARE in order to demonstrate how access to affordable and reliable clean energy as outlined in SDG-7 and sustainable economic growth can go hand in hand. In addition, the current global political situation has demonstrated that DRE and renewable energies are pivotal to energy security.“

27 April 2022: The Board of Directors of the African Development Bank has approved two loans amounting to $180 million to co-finance a major energy project that will extend electricity access to rural areas and reduce greenhouse gas emissions in Rwanda.

This follows the 26 May 2021 approval for $84.2 million from the resources of the African Development Fund (ADF), the concessional window of the Bank Group, for the same project.

Financing for the Transmission System Reinforcement and Last Mile Connectivity project comprises $140 million from the African Development Bank sovereign window and a $40 million co-financing from the Africa Growing Together Fund (AGTF), as well as resources from the ADF.

The project will entail the construction of over 1,000 km of medium voltage and 3,300 km of low voltage lines to boost last mile access. It will also build 137km of high voltage line and six substations required to strengthen the grid. Other features of the project include the installation or upgrading of more than 1,200 distribution transformers and related infrastructure.

The project will connect 77,470 households to the electricity network for the first time. It will also connect 75 schools, eight health centers and 65 administration centers, while enabling the evacuation of 125MW of clean energy from hydropower plants. It will create 455 permanent jobs and 760 part-time jobs, with 30% of these going to women.

“The rationale for the Bank’s intervention is to support the country’s pursuit of 100% access to electricity by 2024. the Project will contribute to enhancing the quality of life by facilitating improved education and health provision as well as promoting private sector growth, hence contributing to Rwanda’s social and economic transformation agenda which aims to transition Rwanda from a developing country to a middle-income country by 2035,” said Aissa Tour-Sarr, the African Development Bank’s Country Manager in Rwanda, during the approval of the project.

The Bank-financed grid access component of the project will target households in southern Rwanda, where connection rates are below 34%. The main cities targeted are Gisagara, Huye, Nyamagabe, Nyanza, Nyaruguru, and Ruhango.  The project will also strengthen the network in Nyarugege city, Nyamata, Kigali Hub, and other zones across the country where rising commercial activity has increased electricity demand.

Bank Vice President for Power, Energy, Climate & Green Growth, Dr. Kevin Kariuki, remarked: “The Bank is pleased to play an important role in actualizing Rwanda’s Transmission Reinforcement and Last Mile Connectivity Project, which will not only contribute to addressing the country’s energy poverty, including pursuit of universal access by 2024, but also aligns closely with the Bank’s High 5 priorities.  Moreover, the project exemplifies the transformational impact of effective coordination amongst development partners.”

The Transmission Reinforcement and Last Mile Connectivity project is a component of the $670 million multi-donor Rwanda Universal Energy Access program, which is being co-financed by the World Bank Group, OPEC Fund for International Development, Saudi Fund for Development, Agence française de développement, and the European Investment Bank.

The African Development Bank Group’s contribution, including last year’s approval funding resources of $84.2 million from the African Development Fund, the Bank Group’s concessional window, represents around 40% of the program’s costs.

The project aligns with two of the Bank’s High-5s – “Light Up and Power Africa” and “Improve the Quality of Life for the People of Africa.”

As of March 2022, the African Development Bank has financed over $1.4 billion worth of projects in Rwanda, of which $498 million has been directed towards energy project projects.

27 April 2022: Today, Sun King, the largest provider of solar energy products for off-grid homes in Africa and Asia, announced it has raised $260 million in Series D funding, led by BeyondNetZero, the climate investing venture of General Atlantic, a leading global growth equity firm, along with M&G Investments’ Catalyst team and Arch Emerging Markets Partners. Founded in 2007 as Greenlight Planet, the company recently rebranded as Sun King, the name under which its products have long been sold.

Sun King is leading a transformation in how electricity is provided across Africa and Asia, where 1.8 billion people still lack access to a reliable electrical grid. To date, Sun King has powered the lives of 82 million people across 40 countries.  The company’s solar home systems power lights, mobile phones, radios, and larger home appliances. Sun King systems are dramatically more affordable and sustainable than kerosene or new power lines, allowing customers to leapfrog electrical grids and fossil-fuel energy sources entirely.

Today, Sun King operates the world’s largest direct-to-consumer, pay-as-you-go (PAYG) solar distribution network, growing at a rate of 150,000 new clients per month across seven countries.  In Kenya, one in five people use Sun King today, with 18 million Kenyans having benefited over a decade of operations. In Nigeria, the company’s user base has tripled in the past year alone. While growing rapidly, the company has remained consistently profitable.

Sun King now accounts for 38% of total industry-wide PAYG solar revenue according to the latest data collected by GOGLA, the global association for the off-grid solar energy industry. As a result of Sun King’s growth, the company has eliminated 22 million tons of carbon dioxide emissions while saving consumers $4.4 billion in energy costs.

The $260 million financing includes $100 million in primary investment for Sun King’s continued expansion. Sun King’s founders retain voting control of the board. In addition to the company’s plans for continued geographical expansion, the funds will also be allocated towards product-line expansion, including larger solar systems equipped with AC-electricity inverters (capable of powering larger appliances like refrigerators) and new products such as mobile phones.

“This investment in Sun King marks an incredible inflection point for the global off-grid solar industry,” said T. Patrick Walsh, co-founder, and CEO of Sun King. “Over the last 15 years, we have delivered solar energy and light to over 82 million people, enabling kids to study for school, helping entrepreneurs run small businesses, and allowing families to power their lives, free from the danger and high cost of kerosene lanterns. This landmark investment allows us to continue scaling our technology, service, and financing capabilities so we can meet the needs of the next billion energy consumers.”

“Sun King is leading a global transformation in the way we provide electricity to consumers in Africa and Asia,” said Sun King co-founder Anish Thakkar. “It’s now dramatically more affordable to power a home with a solar system than to extend the electrical grid: for less than the cost of a single electrical pole, we can install an entire solar energy system in-home. This funding will further unlock our ability to scale this revolution to the 1.8 billion people who need these products today, and the next billion who will need them tomorrow.”

“BeyondNetZero is excited to back Sun King, an industry-leading company that offers consumers accessible and affordable solar products, supported by fair and sustainable business practices,” said Eli Aheto, Managing Director on the BeyondNetZero team at General Atlantic. “We look forward to partnering with the company and its leadership as they bring innovative and affordable off-grid solar products to new markets and continue to grow their meaningful contribution to the global net-zero transition.”

Ekta Partners acted as the lead financial advisor for this transaction. Goodwin Procter LLP provided legal counsel to Sun King, and Freshfields provided legal counsel to BeyondNetZero.

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About Sun King: Sun King is the world’s largest off-grid solar energy company, serving the 1.8 billion people across Africa and Asia who lack access to reliable electricity. Through innovative product design, affordable pay-as-you-go financing, and a grassroots field team of 15,000 agents providing installation and service, Sun King has powered the lives of over 82 million people.  Founded in 2007 as Greenlight Planet, Sun King sets the gold standard for off-grid solar technology as part of its mission: powering access to brighter lives. For more information, visit: www.sunking.com.

About BeyondNetZero: BeyondNetZero is the climate investing venture of General Atlantic, a leading global growth equity firm. BeyondNetZero invests in growth companies delivering innovative climate solutions that have the potential to meet and exceed net zero emissions targets, with a focus on decarbonization, energy efficiency, resource conservation and emissions management. This venture combines General Atlantic’s growth equity experience and global network with a team of experienced climate investors, advisors and industry executives who bring decades of experience in both addressing climate-focused problems and building pioneering growth companies. For more information, visit: https://beyond-net-zero.com.

About General Atlantic: General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $84 billion in assets under management inclusive of all products as of December 31, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, and Stamford. For more information, visit: www.generalatlantic.com.

About M&G Investments: M&G Investments’ Catalyst strategy is investing up to £5 billion into innovative privately-owned global businesses working to create a more sustainable world. For over ninety years M&G Investments has been helping its customers to prosper by putting investments to work, which in turn creates jobs, homes, and vital infrastructure in the real economy.   Its investment solutions span equities, fixed income, multi asset, cash, private debt, infrastructure, and real estate. M&G Investments is part of M&G plc, a FTSE-100 listed company with over £370 billion of assets under management (as of 31 December 2021), and customers in the UK, Europe, the Americas, and Asia, including individual savers and investors, life insurance policy holders and pension scheme members.

28 April 2022: Finergreen, a leading transaction boutique specialized in renewable energies and energy transition, demonstrates its unwavering commitment to the biogas industry in France and its positioning as the leading financial advisor for the sector with the recent closing of 4 landmark transactions for over €75m in total. These transactions were carried out on behalf of both industrial and agricultural clients and range from senior project finance to corporate level hard equity. Biogas projects shape our rural territories thanks the unyielding implication of farmers and the cooperation of local private and public stakeholders. In an increasingly complex and challenging environment, the successful closings of those transactions come as a reward of our longstanding commitment alongside biogas project developers. We have been committed to help project developers since 2013 and look forward to further supporting all industry players in France but increasingly so across Europe.

In November 2021, Finergreen advised Waga Energy and Meridiam on the successful closing of the first non-recourse project finance related to a large asset portfolio in France, using the proprietary Waga Box technology, designed to recover gas from landfills. The senior package was provided by BNP Paribas and Banque Populaire Grand Ouest.

In December 2021, Finergreen advised CVE in its €30m equity fundraising with Swen Capital Partners (Project CRONOS). With the support of this new shareholder, CVE Biogaz aims to reach an installed capacity of 1,5 TWh/year in France (c. 10% market share) by 2030. This partnership has already proven successful following CVE Biogaz’s recent acquisition of Ecovalim, a local integrated player of the biowaste collection and recovery industry.

In February 2022, Finergreen successfully implemented a senior debt facility to finance the construction of a 200 Nm3/h biomethane unit owned by Eiffel Gaz Vert and a group of local farmers (Project METHA VAL DE SAÔNE). The debt was provided by BNP Paribas and Banque Populaire Bourgogne-Franche-Comté.

In March 2022, Finergreen advised the 72 farmers behind the Oudon Biogaz project in securing (i)  equity co-investors, (ii) a junior facility through crowdfunding, and (iii) a senior debt facility, for the construction of the project, for a total CAPEX of €25m. Located at the heart of Pays de Craon in Mayenne, Oudon Biogaz is one of the most important agricultural biogas projects in France with a production capacity of 55 GWh/year and a yearly recovery of over 140 000 tons of organic waste. 

Equity co-investment was subscribed by Ter’Green and TEM53 who joined forces as minority shareholders with the 72 farmers and feedstock suppliers – who keep a majority ownership. Junior crowdfunding was secured via the crowdfunding platform Lendosphere. Senior financing was closed with a bank consortium led by BPGO/Helia Conseil and also includes Caisse d’Epargne Pays de la Loire and BNP Paribas.

Matthieu Kuzdzal, Vice President at Finergreen comments: “Our experience and understanding of the market specificities have been key in allowing us to provide tailor-made solutions to each of our clients towards a successful outcome. We are currently leading other transactions for major industry players in France and Spain and look forward to further supporting biogas players in an increasingly uncertain economic environment. Public support for the biogas industry is ramping up across Europe and we are hopeful that this trend will prevail in the long run. In France, the organization of new tenders for an additional capacity of 1,6 TWh over the next 18 months sends a positive signal, although much remains to be done. Those tenders will complement the existing support scheme for small and medium size projects, which already benefit from long term feed-in-tariffs.”  

With nearly 10 years of experience, Finergreen stands out for its innovative and proactive approach. Passion, enthusiasm, and entrepreneurship define its commitment towards clients, supporting them from project inception to financial closing.

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About Finergreen: Finergreen is a financial advisory boutique specialized in energy transition and renewable energies. Founded in 2013, the company has already completed more than 150 transactions for a total of 3 billion euros. With 70 people based in 10 offices all over the world, the company provides Mergers & Acquisitions, Project Finance and Strategic Advisory services.

In 2021, the company was ranked #1 in Inframation international League Table, with 30 transactions executed in the renewable energy industry. For more information, visit: www.finergreen.com.

28 April 2022: Energy Catalyst, a UK government-funded programme, has announced its next wave of promising clean energy innovations.

This is Round 8 of the funding programme, designed to accelerate access to sustainable energy in sub-Saharan Africa and Asia, with all innovations geared to tackle climate change.

This latest round of awards is part of Energy Catalyst’s efforts to support developing economies by increasing access to clean reliable power and transition from fossil fuels through the commercialisation of new clean energy technologies and business models.

This latest round of funding winners represents market-focused technologies across a range of innovations including next-generation storage batteries, state-of-the-art ventilation and air-cooling system for schools, healthcare facilities and offices, to use of AI and machine learning, and a mobile mini-grid that can be transported from village to village to bring clean energy to remote communities.

Round 8 of Energy Catalyst is targeting innovations that address the energy ‘trilemma’: clean energy, affordable energy and accessible energy, to transform the energy landscape while also addressing gender equality and social inclusion in sub-Saharan Africa and Asia.

The programme ambitions are in line with the gathering momentum around energy access, evidenced during COP26 with a sharpened focus around the need for an inclusive global clean energy transition, in line with UN Sustainable Development Goal 7.

Innovate UK, Innovation Lead – Energy, Alice Goodbrook said: “I am really encouraged by the overwhelming interest that the programme has continued to receive, and the high standard of applicants in this latest round of funding. The programme’s progress to date serves to underline the vital importance of this type of funding to help clean energy innovators bridge the gap to commercialisation.

“The impact of Energy Catalyst supported companies is already being felt in nearly 30 countries around the world, furthering access to clean energy and improving the lives of people in developing economies. I am excited to see how the Round 8 companies can take this impact even further.”

Energy Catalyst is an Innovate UK programme with co-funding from the Foreign, Commonwealth and Development Office, Global Challenges Research Fund, the Department of Business, Energy and Industrial Strategy and the Engineering and Physical Sciences Research Council.

The Carbon Trust leads the accelerator programme for Energy Catalyst companies with support from Energy 4 Impact, Power for All, Intellecap and Open Capital Advisors.

Launched in 2014, Energy Catalyst has supported over 566 organisations, including 119 international partners. The programme has provided £60m of funding for energy access technologies and business models and improved energy access in 36 countries.

Details of the Energy Catalyst Round 8 projects:

• Smart Villages – Innovative mobile mini-grid-scale service and storage for rapid scaling of rural energy access in Kenya;
• InvestinGreen.Energy – Renewable Energy Independent Power Producer innovating advanced battery expansion for scalable, sustainable mini-grids;
• Solveteq – Sustainable alternative to informal recycling of Lead-acid batteries;
• Queen Mary University of London – Sea Wave Energy powered micro-grid for remote islands and rural coasts;
• Pilio – Establishing an insetting scheme in Pakistan to provide affordable renewable energy to communities of rural cotton pickers in extreme poverty with the support of fashion brands;
• Nova Innovation – Feasibility of Larantuka and Indonesian Tidal Energy (FLITE);
• Green Fuels Research – PoWGEN – Pangasius and other Waste for Green Energy Needs;
• Aquatera – IESSLA Integrated Energy Systems Site seLection Assessment for Accelerated Business and Project Development in Off-Grid Islands;
• Blockchain Climate Policy Studies Ltd – Blockchain-based off-grid energy trading system to enhance the sustainability of less affluent communities in Indonesia;
• Free running buildings – FREECOOL+ – Adapting passive ventilation and zero-energy cooling for sub-Saharan Africa;
• Integrals Power – NexGen Battery (NGB);
• Aceon – Development of innovative off-grid energy storage for sub-Saharan Africa using portable and affordable Sodium (Na)-ion battery system;
• Verditek – Development of robust, ultra-lightweight portable solar energy system – providing scalable, renewable power (50w-1.5kw) to off-grid communities in Zimbabwe and SSA;
• Technovative Solutions – Implementation of photovoltaics through an innovative mini-grid expansion model for rural African & Asian communities – (IMPHORAA);
• enee.io – Increasing access to energy through improved battery life and performance;
• Azuri Technologies – Unplugging the generator: solar power tackling intermittent grid in Nigeria.

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About Energy Catalyst: Energy Catalyst, an Innovate UK programme, helps early- to late-stage innovators develop market-based technologies and business models that accelerate access to clean, modern and affordable energy in Africa and Asia. For more information, visit: https://energycatalyst.ukri.org.

About Innovate UK: Innovate UK is part of UK Research and Innovation, a non-departmental public body funded by a grant-in-aid from the UK government.

• The strategic partnership, forged through a memorandum of understanding signed in late November 2021, officially launches in Johannesburg on the 5th of May 2022 and paves the way for the two companies to work together on commercial initiatives in the African region that contribute to energy optimization, decarbonization and net-zero pathways for African cities, business and industry.

5 May 2022: Inspired Evolution, a leading specialized African investment advisory business dedicated to bespoke climate-driven investment themes: clean energy infrastructure; energy access; and energy and resource efficiency – and the value chains that support them, and Schneider Electric, the global leader in the digital transformation of energy management and automation, have agreed to collaborate on various energy-related solutions for the African region. The agreement provides for the exploration of a multi-faceted collaboration across a number of business opportunities, including Energy-as-a-Service (EaaS) solutions as well as energy efficiency, microgrid and decarbonization.

The partnership will explore these opportunities across identified priority countries, industries, and market segments, through a combination of Schneider Electric’s technical expertise and EaaS solutions with offices across Africa, and Inspired Evolution’s deep networks, business model and financing expertise.

Schneider Electric is well-positioned to address these opportunities, given its leading position in EaaS with global presence, cross industry experience, and full-suite best-in-class technology and service offerings.

Inspired Evolution, as a specialized climate mitigation and energy transition investment advisory business with a broad African footprint, offers over 15 years of proven track record in clean energy, energy access and energy efficiency investments, with award-winning ESG impact performance.

The collaborative partnership will be officially launched by Christopher Clarke, Managing Partner at Inspired Evolution, Steven Faure, Partner and EaaS Lead at Inspired Evolution, and Devan Pillay, Cluster President Anglophone Africa at Schneider Electric.

Christopher Clarke said, “This joint venture is an important and strategic development in our climate finance strategy and approach that includes forging strong and meaningful partnerships with global players like Schneider Electric to help us to decarbonize, decentralize and digitize innovative and affordable clean energy solutions, financed through our Evolution funds, in contribution to transforming Africa’s energy landscape.”

As part of Schneider Electric’s promise to reduce CO2 emissions and help organizations around the world shift to become carbon positive, the company proactively works with partners to create new business models that will promote a more resilient and sustainable future.

“Partnerships are fundamental to the goal of achieving a greener, more sustainable world, and Inspired evolution have pioneered new approaches to sustainable business,” said Devan Pillay. “We believe that, by combining our areas of expertise, we will be able to make significant progress in the space of clean energy and energy efficiency and scale up these ideas to benefit organizations and societies globally.”

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About Schneider Electric: Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries. We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values. For more information, visit: www.se.com/za.

About Inspired Evolution and Evolution Funds: Inspired Evolution, investment advisor to Evolution I and Evolution II Funds, and currently raising Evolution III Fund, is a specialised clean energy infrastructure and resource efficiency investment advisory platform with offices in Cape Town, London, Nairobi, Abidjan and Mauritius. Inspired Evolution has been involved in financing the development and operations of more than 2 GW of renewable energy infrastructure generation projects and multiple growth equity investments across Sub-Saharan Africa. Evolution II Fund’s investors include the African Development Bank, CDC Group, Cyane Holdings Ltd, European Investment Bank, the Dutch Development Bank FMO, the Finnish Fund for Industrial Cooperation, the European Initiative on Clean, Renewable Energy, Energy Efficiency and Climate Change related to Development SICAV, SIF – Compartment Global Renewable Energy and Energy Efficiency Fund, Swedfund International AG, KLP Norfund Investments AS, Morgan Stanley Alternative Investment Partners, Swiss Investment Fund for Emerging Markets managed by Obviam and a US healthcare system. Evolution III Fund is expected to comprise the majority of its existing investors as well as new global and regional institutional investors, endowments and family offices. For more information, visit: www.inspiredevolution.co.za.

5 May 2022: As the world talks about the energy transition, South Africa’s Department of Mineral Resources and Energy (DMRE), through its IPP Office has recently announced the REIPPPP BW6 Request for Proposals (RFP).  This bid round will add 2,600 MWs of new capacity to the energy mix, the second to be released in line with the Ministerial Determination, promulgated on 25th September 2020, which seeks to procure 11,813 MW of power from various sources including renewable energy, storage, gas and coal.

BW6 follows on from the announcement of preferred bidders under the REIPPPP BW5 which are currently in the process of preparing for financial close later this year. The Timeline for the REIPPPP BW6 process is as follows:

•  2 June 2022 – BW6 virtual Bidders’ Conference
• 14 July 2022 – Last date for compulsory Bid Registration for BW6
• 11 August 2022 – RFP Bid Submission Scheduled for BW6

For any further IPP Procurement Programme updates please go to the South African IPP Office website at www.ipp-projects.co.za.

At the Africa Energy Forum (aef22) next month, the IPP Office will host a workshop focusing on investor-centric requirements of BW6, as well as participating in a number of deep dive sessions focused specifically on procurement programmes regionally.  Additionally, supporters of the programme will be invited to a networking function to further enable deeper sharing of insights to better equip investors as they prepare for the August submission deadline.

“The IPP Office is an example of how to increase clean energy adoption across the continent. It stands out as a world leading programme for investor engagement and the advancement of renewable projects and we’re delighted that the Office, under the leadership of the Mr. Tshifhiwa Bernard Magoro, will join us at aef22 to further enable investors to have every opportunity to understand the requirements of BW6.” Shiddika Mohamed, Group Director, EnergyNet.

Join the IPP Office and over 2000 attendees, 300+ expert speakers, 100+ leading sponsors & exhibitors, over 4 days, at this year’s 24th annual Africa Energy Forum on 21-24 June at Tour & Taxis in Brussels, as we return to our full scale event, catering for all your business development needs. Special rates available when you register by Friday 20th May.

6 May 2022: The first and largest manufacturer of syringes in the Middle East, the family-owned Arab Medical Equipment Company (AMECO), has signed agreement to receive 2.5 MW of solar power from the roof of its manufacturing plants in Ramadan City, Cairo. The contract is signed with the Norwegian renewable investment company – Empower New Energy and the Egyptian company - Gree Solar. This week marked the start of construction of the first 0,5 MW phase of this large rooftop solar plant which is Empower’s fifth investment in Egypt.

The Government of Egypt has committed to increase the share of renewables in the country’s electricity mix from 20 % in 2020, to 42 % in 2030. As a result of this 25-year contract AMECO, who have implemented European standards for design and manufacturing of medical equipment, will contribute to this goal by producing 4,4 GWh solar power yearly, equal to saving an estimated 2,125 thousand tons of CO2 annually.

Hisham El Fata Chairman of AMECO says” offering rapid deployment of clean energy with no up-front cost to the customer is a value proposition that resonates greatly with Egyptian energy buyers and as a company, saves us electricity costs and enables sustainable operations with use of clean energy.

Terje Osmundsen CEO of Empower “this an important step closer to realizing our ambition to be one of the foremost independent solar power providers in the C&I industry in Africa”.

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About Empower New Energy: Empower New Energy is an award – winning impact investor in African renewable energy with proven business and operating mode. The Company serves C&I clients and communities by mobilizing international capital and operating assets effectively. For more information, visit: https://www.empowernewenergy.com.

About AMECO: AMECO is the first and largest single-use syringe manufacturer in the Middle East. In addition to disposable syringes, AMECO produces hypodermic needles and IV and transfusion sets. For more information, visit: http://www.amecoegypt.com.

About Gree Solar: Gree Solar is a leading solar PV developer that specialises in developing rooftop and ground mounted solar PV for businesses in Egypt. For more information, visit: https://www.greesolar.com.eg.

6 May 2022: Starsight Energy (Starsight), a Nigeria-based, Africa-focused solar energy provider, announced the conclusion of a competitive local currency agreement with Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF), for a 10-year, NGN8 billion refinancing of US$20 million of current debt with two development finance institutions (DFIs) invested in the energy sector in Africa.

The new facility – Starsight’s second with NIDF – replaces Starsight’s current facilities with Norfund (the Norwegian Government Investment Fund for Developing Countries) and Finnfund (the Finnish Fund for Industrial Cooperation Ltd).

Paul van Zijl, Starsight’s Group Chief Financial Officer, explains: “The DFI facilities were secured when we were a much smaller company when most funders did not show substantial interest in Starsight. Norfund and Finnfund were invaluable funders to the company in its early guise and we remain very grateful for their support to date. The logic for refinancing the US dollar debt in local currency was just too compelling to ignore”.

The increased difficulty in sourcing US dollars in Nigeria, together with the devaluation of the Nigerian Naira in the parallel market over the past five years, has made US dollar debt increasingly expensive, van Zijl adds.

Starsight’s objectives in securing the Nigerian refinancing have been met successfully:

• removal of currency mismatch and associated foreign exchange (FX) volatility from its Nigerian business;
• reduction of its cost of debt in local currency terms; and
• an increase in its debt tenor with favourable debt covenants.

The Nigerian refinancing, negotiated in just two months amid substantial interest from Nigerian debt-funders, “keeps things local”, says van Zijl, supporting Nigerian green energy players and the country’s economy. The refinancing was made possible through close collaboration by the Starsight and NIDF teams with the necessary flexibility to ensure closing on the targeted date.

van Zijl adds: “As we continue to expand in Africa, we closely monitor the local economic situation and currency trends, ensuring our capital structure and FX exposure is optimal for that specific market.”

“The Nigerian economy has some similarities to that of South Africa – local currency income and local currency expenses necessitate local currency debt.”

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About Starsight Energy: Starsight is an unlisted provider of solar energy to governments, utilities and businesses in Africa. Starsight is backed by Helios Investment Partners, which manages geographically diversified portfolios of private equity and credit investments in more than 30 African countries; and African Infrastructure and Investment Managers (AIIM), a member of Old Mutual Alternative Investments, which manages investments in East, West and Southern Africa, with US$2.4 billion equity under management and a track record across seven African infrastructure funds.

Technology-driven Starsight offers the provision of clean, green energy, end-to-end services – from planning to construction, to operational management, wind-down and re-deployment – with no upfront capital investment to investors, plus significant energy savings. For more information, visit: www.starsightenergy.com.

About Chapel Hill Denham Nigeria Infrastructure Debt Fund: Nigeria Infrastructure Debt Fund is Nigeria’s largest and Africa’s first-ever listed infrastructure fund, providing long-term, Naira-denominated financing for infrastructure projects in Nigeria. NIDF enables project sponsors to avoid the unsustainable mismatches of currency and tenor between their financing and their revenues/cash flows.

NIDF’s investor base includes the African Development Bank (AfDB), Nigeria Sovereign Investment Authority (NSIA) and nearly all the pension funds operating in Nigeria. For more information, visit: www.chapelhilldenham.com.

9 May 2022: More than one million people in Sub-Saharan Africa have been connected to electricity for the first time through the UK-funded Renewable Energy Performance Platform (REPP), managed by Camco Clean Energy.

According to figures released in its latest quarterly impact report today, REPP has provided clean energy access to approx. 1,083,000 people through its diverse portfolio of solar mini-grids, solar home systems and isolated grid projects (metro grids).

The new connections are providing far-reaching health and socio-economic benefits to rural communities and businesses, as well as directly supporting individual countries’ national climate action targets set out in their Nationally Determined Contributions.

Up until REPP’s intervention, most of the newly connected households had to either typically rely on kerosene, candles and diesel for their energy needs or go without. With access to a clean, reliable and more affordable energy supply, they are now able to enjoy improved air quality while benefiting from increased educational and income-generating opportunities through round-the-clock lighting and the productive use of energy (PUE) activities.

Ben Hugues, Investment Director and REPP Lead at Camco Clean Energy, said: “Passing one million connections is a huge achievement for REPP and reflects all the hard work and determination of the Camco team, REPP’s board and investment committee and, of course, the developers themselves.

“But we mustn’t lose sight of the fact that around half of Africa’s population – with some 600 million people in Sub-Saharan Africa alone – still do not have access to electricity. REPP has been instrumental in developing a thriving and dependable market for the region’s small-scale and decentralised renewable energy sector. Now we just need to scale it up by 600 times.”

REPP was set up in 2015 to stimulate the growth of Sub-Saharan Africa’s small scale and distributed renewable energy market through investing in a mix of off- and on-grid projects that would have either never been realised or which would have faced extensive delays. In addition to the new connections, REPP’s portfolio of on-grid projects has improved the stability of the national grid supply for a further 97,000 people.

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About REPP: The Renewable Energy Performance Platform (REPP), managed by Camco Clean Energy, works to mobilise private sector development activity – and investment – in small to medium-sized projects (typically up to 25MW) in Sub-Saharan Africa. It is supported with funding from the UK’s International Climate Finance through the Foreign, Commonwealth and Development Office (FCDO) and, to date, has agreed contracts with 37 renewable energy projects across 18 countries, employing seven different technologies, from SHS and PV mini-grids to onshore wind and run-of-river hydro. For more information, visit: https://repp.energy.

About Camco Clean Energy: Camco Clean Energy is a specialist climate and impact fund manager, leading the clean energy transition in emerging markets. We offer clean, secure investments, pairing the conscience of a development bank with the agility of a private company. Camco is an Accredited Entity of the Green Climate Fund and is authorised and regulated by the UK Financial Conduct Authority. The company has offices in Accra, Auckland, Helsinki, Johannesburg, London, Nairobi, Singapore, Sydney and Toronto. For more information, visit: https://camco.energy.

12 May 2022: For the development of the Kenyan market, EcoPhi was selected as a participant in the RES program of the German Federal Ministry of Economics and Climate Protection within the framework of the Export Initiative Energy. Renewable energies play a very important role in the expansion of energy supply in rural regions worldwide – also in Kenya. They are a driver for sustainable economic development there. However, a particular challenge with remote plants is that they are prone to faults and frequently stand still. By digitizing the plants, they can be operated more sustainably and their service life increased. The first projects in Kenya have already been put into operation. 

Hundreds of millions of people still do not have access to reliable electricity and water supplies. Renewable energies play a very important role in the climate-friendly expansion of this supply in rural regions without grid connections. New off-grid and on-grid solar installations and solar pumping systems are coming online every day, but not all of them are operating properly. “Many of the systems installed today will not operate reliably within the first year,” says Sebastian Zenz, EcoPhi’s managing director. The systems are often located in remote regions far from major cities and in harsh environments. Good skilled workers are not sufficiently available in many regions. Getting to the plants is therefore time-consuming and expensive. It is no surprise, therefore, that some of the plants come to a standstill after only a short time.

Furthermore, especially in the case of widely distributed plants, the management of the systems poses great challenges for the operators and requires high capacities. Digital solutions can help to operate the plants more efficiently and sustainably.

The EcoPhi products – modular and versatile in use

Only if the plants are operated sustainably and also function properly they can contribute to climate protection and economic development. This is the goal pursued by the company EcoPhi. It offers remote monitoring and digitization solutions specifically for plants in rural regions and harsh environments. EcoPhi systems are characterized by the fact that they are robust and easy to install.

Installers, operators and end customers can thus keep an eye on the plants at all times and intervene quickly in the event of problems or even carry out remote maintenance without having to travel long distances. This saves time and money and ensures that the plants are in operation for longer in the end.

A special feature of the EcoPhi systems is also their modularity and flexible applicability. Thus, the systems can already be used economically in small solar home systems – but also in large and complex installations such as minigrids or C&I projects.

Kenya as an interesting market and hub for the entire East Africa region

This flexibility is also evident in one of the company’s current projects in Kenya. Together with the Kenyan company Lean Energy Solutions, EcoPhi is monitoring sustainable biomass heating systems used in various industrial processes in Nairobi. Three new systems were commissioned here in March 2022.

“Kenya is strategically a very interesting market for EcoPhi. Both the on-grid market and the off-grid market are developing very quickly and dynamically,” says Zenz. In the short term, the country serves primarily as a sales market for EcoPhi products. In the long term, Kenya can establish itself as a hub for activities on the continent and especially in East Africa.

In April 2022, EcoPhi was awarded the ‘Solar Company of the Year: Monitoring Solutions’ award at the 2022 KENYA SOLAR WEEK LEADERSHIP AWARDS.

By participating in the program, EcoPhi aims to establish itself even further on the Kenyan market and expand its local activities. In doing so, the company is relying heavily on cooperation with Kenyan partners and companies in the fields of solar energy, water supply and agriculture. As part of the market development, the company will conduct sales and product training to strengthen local partners. In May, EcoPhi will showcase its products and services at the Solar Africa Expo.

The RES project Kenya is funded under the Renewable Energy Solutions Program of the Export Initiative Energy of the German Federal Ministry of Economics and Climate Protection.

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About German Energy Agency (dena): dena is the centre of expertise for energy efficiency, renewable energy sources and intelligent energy systems. As the Agency for Applied Energy Transition we contribute to the attainment of energy and climate policy objectives. We develop solutions and put them into practice, both nationally and internationally. In order to achieve this, we bring together partners from politics and industry across all sectors – with an enthusiasm for one of the most exciting challenges of our time. dena’s shareholders are the Federal Republic of Germany and the KfW Group. For more information, visit: www.dena.de/en.

About German Energy Solutions Initiative: The transfer of energy expertise, the promotion of foreign trade and the facilitation of international development cooperation are part of the German Energy Solutions Initiative, which is coordinated and financed by the German Federal Ministry for Economic Affairs and Climate Action. The initiative offers networking and business opportunities in Germany and abroad, it showcases reference projects and facilitates capacity building. For more information, visit: www.german-energy-solutions.de.

About Renewable Energy Solutions Programme (RES Programme): With the RES Programme, the Deutsche Energie-Agentur (dena) – the German Energy Agency – helps German renewable energy companies enter new markets. The installation of climate-friendly energy technology projects in attractive target markets is accompanied by comprehensive information dissemination, marketing and training programmes. These flagship projects, supported by the Federal Ministry for Economic Affairs and Climate Action within the German Energy Solutions Initiative, aim to showcase high-quality German renewable energy technology and help participating companies gain a foothold in new markets. For more information, visit: http://www.german-energy-solutions.de/en/res.

13 May 2022: InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed an agreement committing to provide US $15 million by way of convertible loan notes to Bboxx, a next generation utility ramping up the provision of clean, reliable, and affordable energy access to underserved communities in Africa.

To date, Bboxx has successfully delivered clean energy solutions for over 2.5 million people globally, with substantial operations in countries including Rwanda, Kenya, Togo, Nigeria, and the Democratic Republic of Congo. This investment will enable Bboxx’s acceleration in existing and new markets across sub-Saharan Africa to provide clean energy solutions to millions of people in the region.

Bboxx’s systems run on its comprehensive management platform Bboxx Pulse®, enabling clean energy access to be scaled to places previously considered too expensive or difficult to reach via traditional grid infrastructure.

InfraCo Africa has a strong track record in the off-grid solar space, with mini-grid initiatives in Uganda, Sierra Leone and Kenya and the company also supports solar-powered irrigation in Senegal. This agreement with Bboxx marks the company’s first investment in the SHS space, in line with InfraCo Africa’s desire to broaden access to clean energy across rural areas and communities using alternative models.

With this transaction, Bboxx and InfraCo Africa are also aligned in their commitment to contribute to United Nation’s Sustainable Development Goals: Affordable and Clean Energy for all (SDG 7), Gender Equality (SDG 5) and Climate Mitigation (SDG 13) through increasing access to clean and reliable energy.

Today’s announcement follows the investment of InfraCo Africa’s sister PIDG company, GuarantCo, which provided a KES 1.6bn (US$15 million) loan partial guarantee in support of Bboxx’s operations in Kenya.

Mansoor Hamayun, CEO and Co-Founder of Bboxx, said: “The global problem of insufficient energy access can only be solved sustainably through the provision of innovative financing solutions. We are therefore delighted to announce this transaction with InfraCo Africa, significantly aiding our mission to transform the lives of millions in the developing world and helping to reach the UN’s SDG7 – clean energy for all. We thank InfraCo Africa for their vote of confidence in our operations, joining us in the recognition that energy is the key to unlocking inclusive and sustainable economic development in these markets.”

Claire Jarratt, InfraCo Africa’s Chief Investment and Risk Officer, said: “Bboxx is clearly a well-established and exciting player in the clean energy sector, especially in the solar home systems’ space. Today’s investment by InfraCo Africa will further support Bboxx in its continued growth, supplying clean energy solutions for hundreds of thousands of customers across sub-Saharan Africa in the coming years. Our investment will also enable Bboxx to unlock further private sector finance, a key driver of the PIDG and InfraCo Africa mandate.”

18 May 2022: Climate and impact fund manager Camco Clean Energy has partnered with Energy Peace Partners (EPP) to manage the Peace Renewable Energy Credit (P-REC) Aggregation Fund to expand renewable energy investment in fragile states in Sub-Saharan Africa.

P-RECs are international renewable energy certificates (I-RECs) with a supplementary label from Energy Peace Partners as the issuer certifying the co-benefits associated with the new renewable energy generation in countries that are fragile, climate vulnerable and energy poor. Since 2020, P-REC transactions have unlocked a new stream of private sector capital to support emerging renewable energy projects in the Democratic Republic of the Congo (DRC) and South Sudan.

Trading in P-RECs, the Fund is designed to unlock up front funding for high impact renewable energy projects in countries where political and economic uncertainty is constraining investment and deployment of renewable energy infrastructure, and where lack of access to electricity is hindering sustainable development.

With each credit representing one megawatt hour of renewable energy, the P-RECs monetise the environmental and social attributes of renewable energy generated in fragile, energy-poor countries. The Fund offers renewable energy developers in fragile states – where access to affordable finance remains a key challenge – a portion of construction capital upfront, helping new projects come online by de-risking them and catalysing financing from other sources.

Today’s announcement coincides with this week’s Sustainable Energy for All Forum in Kigali, Rwanda, which aims to accelerate progress towards the delivery of Sustainable Development Goal 7 (SDG7) to end energy poverty and advance a just energy transition in every corner of the world.

The Fund is designed to directly support SDG7, as well as SDG13 (climate action) and SDG16 (peace, justice and strong institutions); its USD 10.25m pilot phase – being raised as a mix of first-loss grants and concessional capital – is projected to unlock USD 90m in additional financing and support the deployment of 57MW of new renewable energy capacity, providing energy access to 325,000 households as well as creating 10,000 jobs and avoiding 650,000 tons of greenhouse gas emissions.

The Fund is initially targeting countries with high impact potential including DRC, South Sudan, Chad, Somalia and Uganda. In the future, as the P-REC market matures, the Fund will be expanded to include commercial capital and draw in other financing facilities, providing even more financial support to developers and expanding energy access in the regions where it is needed most.

Geoff Sinclair, Managing Director, Camco Clean Energy, said: “We’re thrilled to be partnering with Energy Peace Partners as the manager of the P-REC Aggregation Fund. This has real potential to help raise standards of living in conflict-affected states, building a brighter future, today.

“EPP’s domain expertise combines well with Camco’s proven track record in trading environmental instruments and renewable energy finance in emerging markets, and I look forward to achieving real impact on this fund while building the market for Peace RECs.”

Sherwin Das, Managing Director, Energy Peace Partners, said: “The P-REC Aggregation Fund leverages an innovative financing instrument to increase the flow of finance for a growing portfolio of high impact renewable energy projects in fragile states in Sub-Saharan Africa. It will send vital market signals to crowd-in other funders and resources, providing peace positive investment that contributes to achieving global goals to mitigate climate change and end energy poverty.

“We are excited to be partnering with Camco as we operationalise the P-REC Aggregation Fund. Camco’s deep expertise in environmental markets and renewable energy finance in Africa’s emerging economies, along with its focus on transformational impact, aligns perfectly with EPP’s goals to extend the renewable energy revolution to some of the hardest-to-reach communities.”

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About Energy Peace Partners: Energy Peace Partners leverages climate finance solutions to support peace in places affected by violent conflict. We believe that a paradigm shift toward climate-sensitive development can deliver enduring benefits to the planet’s most vulnerable populations. The Energy Peace Partners team brings together expertise in international peacebuilding, renewable energy, and climate security. Our efforts create an enabling environment for introducing renewable energy that can serve as the building blocks for peace. For more information, visit: https://www.energypeacepartners.com/.

About Camco Clean Energy: Camco Clean Energy is a specialist climate and impact fund manager, leading the clean energy transition in emerging markets. We offer clean, secure investments, pairing the conscience of a development bank with the agility of a private company. Camco is an Accredited Entity of the Green Climate Fund and is authorised and regulated by the UK Financial Conduct Authority. The company has offices in Accra, Auckland, Helsinki, Johannesburg, London, Nairobi, Singapore, Sydney and Toronto. For more information, visit: https://camco.energy.

18 May 2022: Power Africa, through the United States Agency for International Development (USAID), and in partnership with the Smart Communities Coalition (SCC), announces it has awarded two grants totaling $840,000 to off-grid energy companies to install solar mini-grids and deliver 1,300 new electricity connections to homes and businesses in western Uganda’s Rwamwanja refugee settlement. Beyond supplying more reliable and affordable electricity to households and businesses, the grantees will also promote productive use of energy (PUE) technology. PUE equipment — such as cold storage, grain mills, welding machines, and computers — will take advantage of the mini-grids’ generation capacity, stimulate electricity demand, and allow residents to establish or expand micro-enterprises to generate greater income.

The global population of forcibly displaced people passed the 80 million threshold in 2020 for the first time. Of those who went on to live in refugee settlements, approximately ten percent had access to electricity. Today, many refugees cannot obtain basic electric lighting or cooking, relying instead on kerosene or walking long distances to find fuel.

In Uganda, which hosts the greatest number of refugees in Africa, the United Nations Refugee Agency (UNHCR) identified that 89 percent of refugee households were in need of electricity. Limited energy access often means that refugee settlements are denied economic opportunity. Introducing electric lighting solves part of this problem: Light from a solar home system allows learners to study after dark, improves safety, and saves the user effort and money. However, modern off-grid technology can go further to promote economic development.

The two grants aim to meet displaced people’s demand for higher tiers of energy access by developing mini-grids and demonstrating to residents how to turn PUE into a business. Previous initiatives by USAID Power Africa, the SCC and Chatham House to supply energy to refugees demonstrate the potential for demand stimulation and show that increased generation capacity and more advanced PUE require larger, longer-term investments. To develop new business models to meet refugees’ need for energy and PUE — improving economic outcomes for individuals and mini-grid operators — Power Africa funds will be used to install three mini-grids in Rwamwanja, where the grantees will promote PUE to make the most of the energy supplied. The Rwamwanja settlement is home to 70,000 mostly Congolese refugees.

Power Africa assessed each of the grantees’ applications according to their economic benefit, particularly for women; operations and maintenance plans covering at least five years; and social utility (such as the number of public services electrified). Power Africa also selected the grantees using technical guidance provided by officials with Uganda’s Rural Electrification Program, overseen by the Ministry of Energy and Mineral Development.

With its grant funding, Aptech Africa will install two mini-grids to supply uninterrupted electricity to households and businesses in Ntenungi village and Kyempango village in Rwamwanja. Aptech will also establish two farmers’ enterprise centers that will provide cooperative cold storage facilities and offer training on post-harvest processing and how to market produce. The company will provide a wide range of PUE equipment such as water pumps, information technology, and sewing, carpentry, and hairdressing tools through established and new entrepreneurs. Aptech sized its mini-grids to allow the households and businesses to scale their energy use as the settlement’s energy demand grows. The company will charge customers a tariff covering operation and maintenance costs and ensure continuous power supply from the system.

Winch Energy will develop a 120 kWp mini-grid in Kyempango village’s central market in Rwamwanja. With this mini-grid, Winch Energy will introduce a source of electricity that is more affordable and reliable than the options available to the locality. After visiting this site, Winch identified households and businesses clustered around a trading center that will offer residents the most benefit when electrified. These benefits include more extensive lighting and longer business hours. Winch Energy will partner with Mobile Power to offer battery bank rentals for those outside the immediate reach of the mini-grid, and will also implement a program to stimulate demand for PUE. To do so, the company will supply, market, and finance PUE equipment (prioritizing women-owned enterprises) and train residents in financial literacy.

With these grants, Power Africa is delivering needed household electricity while also introducing larger generation capacity and more advanced forms of PUE to benefit refugee communities, in alignment with objectives of the SCC. By extending cleaner, more reliable energy across the continent, Power Africa and the SCC are prioritizing those who live beyond the reach of national power grids, including vulnerable refugees. The grants aim to further demonstrate that mini-grids and PUE are viable in displacement settings while raising residents’ quality of life and increasing opportunities for economic activity.