Evolution II Fund reaches final close at USD216 million.

Inspired Evolution has successfully secured a further USD87.75 million in commitments from CDC Group Plc, Cyane Holdings Ltd, European Investment Bank, KLP Norfund Investments AS, Morgan Stanley Alternative Investment Partners and a US healthcare system to reach total capital commitments of USD216 million at final closing of its Evolution II Fund.

Co-Managing Partner, Wayne Keast, said “We are pleased to have secured commitments from 12 leading investors comprising of a mix of strategic international DFIs, specialised fund-of-funds, institutional investors, pension funds and family offices”. Mr Keast added “growing investor confidence in Inspired Evolution’s offering, consolidates its market position as one of Sub-Saharan Africa’s leading specialised clean energy and resource efficiency investment advisory businesses”.

Setor Lassey, a Director in CDC’s Funds and Capital Partnerships team covering Africa noted, “Investing in clean energy is a key priority for CDC and investing in Evolution II Fund will increase access to rewewable energy across Sub-Saharan Africa, helping to tackle climate change. We look forward to a collaborative and productive partnership.”

“Access to reliable energy is a prerequisite for economic development. This investment is expected to contribute towards improved energy access and reduced carbon emissions across Sub-Saharan Africa. We are pleased to have mobilized institutional capital from KLP (Norway’s largest pension fund) to co-commit USD29 million into Evolution II,” said Mark Davis, EVP Clean Energy at Norfund.

“Climate positive solutions and energy access are key pillars of our impact strategy and our investment in Inspired Evolution – a team we have known since 2011 – underscores our commitment to deploy capital to deliver commercial returns and tangible, sustainable impact,“ said Vikram Raju, Head of Impact, AIP Private Markets, Morgan Stanley.  

“We welcome our new investor partners onboard the Inspired Evolution platform. We are delighted with this additional support and recognition given by the market to Inspired Evolution. These final commitments are testament to the successful demonstration of our investment thesis and performance having achieved top-quartile returns under our first Evolution One Fund,” said Christopher Clarke, Co-Managing Partner at Inspired Evolution.

The Inspired Evolution platform was established in 2007 by Christopher Clarke and Wayne Keast who raised USD90 million for Evolution One Fund in 2008. Evolution One made 12 investments and has developed and sold more than 922 MWs of clean energy projects. Both funds are specialised clean energy infrastructure and resource efficiency growth funds, currently active across 11 Sub-Saharan African countries. The funds invest in affordable, least-cost, low-carbon clean energy infrastructure projects and promote growth in resource efficiency technologies, products and businesses. Inspired Evolution’s measurable development impacts, which to date have achieved 23 times investment multiple for every US dollar invested, will improve energy access and reduce industry footprint, contributing to a brighter future for Sub-Saharan Africa’s people. Since inception, the Inspired Evolution platform has achieved 17 exits.  

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. For more information, please visit www.inspiredevolution.co.za.

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Abuja, Nigeria – This week, the U.S. Trade and Development Agency built on its 27 years of support for Nigeria’s energy sector by funding three projects that will help to electrify dozens of rural communities and deliver critical gas resources to support economic activity and job growth.

“Nigeria is a dynamic market with many opportunities for cooperation between our private sectors,” said USTDA Acting Director Thomas R. Hardy.  “USTDA’s support for these energy projects will strengthen important business ties between our countries and deliver important results for the Nigerian people.”

USTDA committed funding for a feasibility study to help Xenergi Nigeria Ltd. expand and construct a natural gas gathering and processing plant that will substantially increase access to customers in the Niger Delta region.  The opportunity for U.S. firms to conduct the study will be posted on the U.S. Federal Business Opportunities website at www.fbo.gov.

USTDA also committed funding to help the Abuja Electricity Distribution Company provide electricity to underserved communities through the implementation of up to 1,370 solar-powered minigrids with energy storage systems. Colorado’s Rocky Mountain Institute will carry out the study. In addition, USTDA is funding a study to assist Havenhill Synergy Limited develop off-grid solar and storage minigrid sites in up to 110 Nigerian communities. That study will be completed by Colorado-based Odyssey Energy Solutions, Inc.

These activities all support Power Africa, a U.S. government-led initiative to increase electricity access across the continent, and Prosper Africa, a U.S. government initiative to substantially increase two-way trade and investment between the United States and Africa. USTDA has now funded more than 70 projects in Nigeria focused on energy, telecommunications, transportation, healthcare and agribusiness.     

About USTDA

The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority development projects in emerging economies.  USTDA links U.S. businesses to export opportunities by funding project preparation and partnership building activities that develop sustainable infrastructure and foster economic growth in partner countries.

MEDIA INQUIRIES: 

Dianne Quebral at (703) 875-4357

Dr. Akinwumi Adesina, president of the African Development Bank, has arrived in Ouagadougou, capital of Burkina Faso, ahead of the G5 Sahel Summit, and was received by Burkina Faso’s president, Mark Roch Christian Kaboré.

The Burkinabe president applauded the Bank’s Desert to Power initiative, and also highlighted his country’s excellent relationship with the Bank, expressing his thanks for the portfolio of projects implemented. The Bank president is an invited guest at the G5 Sahel Summit of heads of state and government on 13 September.

President Adesina praised President Kaboré’s commitment, vision and leadership in agreeing to host the summit. He stressed the importance of political will in the success of the “Desert to Power” initiative, whose goal is to guarantee universal access to electricity for over 60 million people through solar energy. It will also provide an opportunity to strengthen the south-south partnership as well as stimulate worldwide involvement in the initiative beyond the G5 Sahel countries. At least $20bn must be raised from development partners.

The two presidents also discussed issues relating to the cotton sector, and agreed on a policy of strengthening the domestic cotton industry, so important for the economy of Burkina Faso. The African Development Bank’s president also expressed his sympathies for the terrorist acts that Burkina Faso has recently suffered and reaffirmed the Bank’s support to the country.

During the summit, the Bank will present its Desert to Power initiative to heads of state and government. President Adesina has drawn attention to the paradox that one of the world’s sunniest regions lacks access to electricity: “Now, more than ever, cooperation and cross-border trade in energy are essential to maintaining a secure supply over the long term given the challenges of climate change,” he said, adding that “in Burkina Faso, significant steps have been taken with the Bank-supported Yeleen rural electrification project.”

As part of its electrification strategy for Africa, the Bank is firmly committed to accelerating access to high quality, low cost energy for the continent’s people. Critical network connections have been approved by the Bank’s Board: Mali-Guinea, Nigeria-Niger-Benin-Burkina Faso and Chad-Cameroon.

The “Desert to Power” initiative spans 11 countries: Burkina Faso, Eritrea, Ethiopia, Mali, Mauritania, Niger, Nigeria, Sudan, Djibouti, Senegal and Chad. It will have a significant impact on the standard of living of 250 million people. The goal is to install 10 gigawatts of solar capacity between now and 2030, which will take a big step towards the achievement of the Bank’s High 5 goals, since access to energy cuts across all Africa’s development needs. It is also in line with the Sustainable Development Goals, the Paris Agreement on climate change and the Africa Renewable Energy Initiative. 

The G5 Sahel is a strategic framework for regional cooperation created in 2014. It includes Burkina Faso, Mali, Mauritania, Niger and Chad. The G5 Sahel countries are convinced of the interdependence between security and development, particularly in the service sector (energy, transport, telecommunications, and hydraulics).     

USADF’s new partnership with an innovative energy finance company will enable the agency to build on its investments to bring off-grid energy solutions to underserved communities in Africa.

Washington, D.C. – September 13, 2019 – The U.S. African Development Foundation (USADF) and Nithio Holdings (Nithio) announce a new partnership to provide access to affordable and clean energy to households in Kenya. The partnership illustrates the commitment USADF and Nithio share to create opportunities for communities and energy suppliers in Africa, to scale the use of off-grid solar energy technology, and to support investors in the renewable energy market.

This opportunity places USADF and Nithio at the forefront of the “blended finance” movement in Africa, a concept that brings together private sector investments and public sector de-risking capital through investments that complement each other. The two partners will co-fund early-stage African energy companies, with USADF providing grant funding and Nithio providing loans. This three-year partnership will fund up to 15 off-grid solar energy operators in Kenya.

“USADF is proud to announce this innovative and impactful initiative with Nithio,” C.D. Glin, USADF President and CEO, stated. “Since the inception of our off-grid energy program, the demand for our support in the sector has increased dramatically, reflecting both the sizable need and opportunities to catalyze African innovators and help them realize renewable energy solutions across Africa. Our partnership with Nithio means we can maximize our investments in Kenya, increase energy access for both household and agricultural productive use, and importantly, contributes to the Government of Kenya’s Big Four Agenda, particularly its pillars on food security and light manufacturing.”

As part of its business model, Nithio provides unparalleled consumer credit intelligence that can unlock capital at scale and enable energy access for millions of people in Africa.

“This partnership with USADF is an opportunity to catalyze the sustainable growth of local Kenyan off-grid solar operators,” said Hela Cheikhrouhou, Co-Founder and CEO of Nithio. “With this support, local operators can now access a risk-intelligent financing solution that strengthens their portfolios and supports their long-term growth, allowing them to compete at a world-class level. We look forward to partnering with USADF on this exciting initiative to support household energy access in Kenya.”

The partnership will enable USADF to build on its successful energy investments in Kenya. Since 2014, USADF has provided grant funding and local project management assistance to 16 off-grid energy enterprises in Kenya, including Boma Safi, an energy distribution business that helps women become entrepreneurs, selling energy products in their rural towns through an order-and-delivery system; and Deevabits Green Energy, which provides solar home systems to customers on a pay-as-you-go basis, propelling families to switch from kerosene to the clean energy of solar while saving on energy costs. These energy investments are in addition to nearly 20 agribusinesses and seven youth entrepreneurs USADF is currently supporting in Kenya. 

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About the United States African Development Foundation (USADF)

USADF is the U.S. Government’s independent African enterprise development agency. The agency invests in African grassroots and small- and medium-sized businesses; promotes local economic development; and creates pathways to prosperity for underserved communities. Utilizing a community-led development approach, USADF provides seed capital and local project management assistance to early-stage African enterprises and entrepreneurs addressing Africa’s biggest challenges around food insecurity, insufficient energy access, and unemployment, particularly among women and youth. Annually, USADF’s grant assistance generates approximately $100 million in new economic activity throughout 20 African countries. 

Learn more at www.usadf.gov. Communications contact: Jarvis Holliday, This email address is being protected from spambots. You need JavaScript enabled to view it. , 202-233-8856. 

About Nithio

Nithio provides household-level risk analytics to unlock scalable household financing in Africa. The company uses its highly accurate geospatial credit scoring algorithms to offer financing and analytical insights for off-grid solar operators and their investors. Its predictive credit risk model is offered through a scalable, standardized platform. Nithio’s impact will support access to clean, modern energy for millions of households across the African continent.

Learn more at www.nithio.com. Communications contact: Robert Colvin, This email address is being protected from spambots. You need JavaScript enabled to view it., 202-670-2050.

MBAKAOU: CAMEROON'S FIRST SMALL PRIVATE HYDROELECTRIC POWER PLANT

Paris, on September 25: Following the recent financial close, IED Invest is delighted to announce the beginning of the construction phase of the 1.4 MW Mbakaou Hydro Power Plant. Based on the new Electricity Framework Act more favorable to renewable energy production, IED Invest decided to develop, build and operate a small hydroelectric power plant on the Mbakaou Carrière site, in line with the objectives of Cameroon authorities to promote private sector involvement in the production of renewable energy-based electricity.

With a total cost of EUR 6.8 million (XaF 4.5 billion), the project has benefited from a grant support from the State of Cameroon, the European Union. The remaining funds have been provided by the sponsor with the support of the French Facility for Global Environment (FFEM) and BGFI, one of the largest commercial banks in Francophone Africa, which provided around EUR 1.78 million debt financing. Finergreen acted as the exclusive financial advisor of this project.

The Mbakaou Carrière project is a good example of the liberalization of the electrification of Cameroon. Denis Rambaud Measson, co-founder of IED Invest said :"Aware of the challenges ahead, we wanted, from the outset, to establish sustainable partnerships in order to successfully develop the Mbakaou Carrière project, which constitutes, in our knowledge, the first project of less than 5 MW in Cameroon carried by a private operator, combining electricity generation by renewable energy and rural electrification".

As of end 2020, the small hydroelectric plant will cover two main localities (Tibati and Mbakaou) and six small towns (Makendao, Boninting, Liboum, Naskoul, Gantang and Comb). The project will connect 300 new households in the 6 unelectrified communities, 1,500 new households in the already electrified communities of Tibati and Mbakaou, and enable a reduction of 3200t of CO2 emissions in the first year. The injection of electricity onto the distribution network from the hydroelectric plant will reduce the power outages currently faced by users, by increasing the quality of the electrical service. The operation and management of this plant will be carried out by IED Invest Cameroon that will sell the electricity to ENEO, as part of a 20-year power purchase agreement (PPA) from the commissioning date.

Jean-Jacques Ngono, Managing Partner of Finergreen Africa, explains: "We are glad to have been able to contribute to the realization of this impactful project. It is the first of its kind in Cameroon, gathering the private and public sectors to increase the energy access in rural area. Last but not the least, the project has been founded in local currency by a local bank with a non-recourse loan"

About IED INVEST

IED is an independent consulting and engineering firm. IED has been involved in the provision of sustainable energy services since its incorporation in 1988. Its involvement extends from the study phase right through to the construction and commissioning of infrastructure such as distribution networks and renewable energy production plants.

The main activity of IED is engineering of small-scale electrical systems (less than 5 MW). But the group has gradually adapted its activities as a developer. In that objective, IED INVEST was created in 2010 with the assignment of developing, financing and operating small scale renewable energy projects.

About BGFI BANK

BGFI Bank is a large financial services conglomerate in Central, West and East Africa, with subsidiaries in ten countries. The member institutions serve both individuals and businesses, with emphasis on small-to-medium enterprises (SMEs). BGFI Group was rated the first-largest bank group in Central Africa, by assets.

About FINERGREEN

Finergreen is a financial advisory boutique specialized in the renewable energy sector (solar, wind, hydro, biomass). Founded in 2013, the company has already realized EUR1,5 billion of transactions representing 2 GW of assets.With over 30 people based in 6 offices all over the world, the company provides Mergers & Acquisitions, Project Finance and Strategic Advisory services. www.finergreen.com 

AMEA Power Signs Power Purchase Agreement and Concession Agreement for 50MW Solar Power Project in Togo

Dubai, UAE December, 2019 - AMEA Power has signed a concession agreement with the Ministry of Mines and Energies of Togo and a 25-year power purchase agreement (PPA) with La Compagnie Energie Electrique du Togo (CEET), for a 50MW solar PV project in the country (the Project).  

The project documents were signed by His Excellency Marc Dèdèriwè ABLY-BIDAMON, Minister of Mines and Energies of Togo, Mr. Mawusi KAKATSI, Director General of CEET, and Mr. Hussain AL NOWAIS, Chairman of AMEA Power, on November 26th 2019.

The Project is the country’s first utility scale renewable energy project developed by an independent power producer. It is part of the solar program being developed under the national electrification strategy through which the government intends to build four power plants in the country.

The Project was launched further to a Memorandum of Understanding (MoU) signed in March 2019 between the Ministry of Mines and Energies and AMEA Power. AMEA Power will build, own, operate and transfer the solar power plant in Blitta, which is about 267km away from the capital city Lomé.

The power plant, expected to be commissioned in 2020, will be able to supply power to approximately 159,180 people in Togo thanks to a planned production of nearly 90,255 GWh per year. The Project confirms the dedication of AMEA Power to support the country’s firm goal of increasing the renewables contribution to its energy mix by 2022.

Earlier this year, AMEA Power signed a PPA with Chad’s Ministry of Energy for a 60MW solar PV project. Furthermore, the company has two projects in Jordan under construction; a 50MW solar power plant and a 51.75MW wind power plant. 

Speaking at the signing ceremony, AMEA Power’s Chairman, Hussain Al Nowais, said “We are delighted to move this project forward together with the Government of Togo and our partners. We are thankful for the support that we have received in the country and we look forward to supporting Togo’s economic growth and social development through this project”.

About AMEA Power

Headquartered in Dubai, AMEA Power acquirers, develops, owns and operates power assets in Africa, the Middle East and Asia. The company has built a strong pipeline across technologies and at different stages of development in emerging markets. AMEA Power is led by a highly experienced international team with a proven track record in the power sector.

For more information, please visit: www.ameapower.com.

Press contact:

Barbro Ciakudia

Business Development Manager

AMEA Power

T: +971 4 31 07 050

E: This email address is being protected from spambots. You need JavaScript enabled to view it.

AMEA Power Signs Power Purchase Agreement for 500 MW Wind and 200MW Solar Power Projects in Egypt

Cairo, Egypt December, 2019 – AMEA Power, (a subsidiary of Al Nowais Investments (ANI)), has signed a power purchase agreement (PPA) with The Egyptian Electricity Transmission Company (EETC) for a 200MW solar PV project and a 500MW wind power project in Egypt. 

The PPA was signed by Eng. Sabah Mashali, President of EETC and Mr. Hussain Al Nowais, Chairman of AMEA Power, on December 10th 2019, in the presence of Egypt’s Prime Minister, His Excellency Dr. Mostafa Madbouly; the Minister of Electricity and Renewable Energy, H.E. Mohamed Shaker and the UAE Ambassador to Egypt H.E. Jomaa Al Junaibi, amongst others.

Abyodos Solar Power Company (ASPC), a company fully owned by AMEA Power, will build, own and operate the 200MW solar project in the Kom Ombo region of Aswan under the 25 year take-or-pay agreement. Whilst, Amunet Wind Power Company (AWPC), also fully owned by AMEA Power, will build, own and operate the 500MW wind power project in the Ras Ghareb area under the 20 year take-or-pay agreement.

The power plants, expected to be commissioned in Q4 2021 for solar and Q3 2023 for wind, will be able to supply power to approximately 830,000 homes, with planned production of nearly 2.9 GWh per year.  The Project confirms the dedication of AMEA Power to support the country’s firm goal of increasing the renewables contribution by 42% to its energy mix by 2035.

November 26th 2019, AMEA Power signed a PPA with Togo’s national utility company, La Compagnie Energie Electrique du Togo (CEET) for a 50MW solar PV project. This project is now under construction. A PPA with Chad’s Ministry of Energy for a 60MW solar PV project was also signed earlier this year. Furthermore, the company has two projects in Jordan under construction; a 50MW solar power plant and a 51.75MW wind power plant.

Speaking at the signing ceremony, AMEA Power’s Chairman, Hussain Al Nowais, said “As we continue to expand our global presence, we are delighted to embark on these renewable energy projects in Egypt. We are thankful for all the support that we have received in the country and we look forward to continuing to support Egypt in its drive to diversify its energy mix.” 

About AMEA Power

Headquartered in Dubai, AMEA Power acquirers, develops, owns and operates power assets in Africa, the Middle East and Asia. The company is a subsidiary of Al Nowais Investments (ANI). It has built a strong pipeline across technologies and at different stages of development in emerging markets. AMEA Power is led by a highly experienced international team with a proven track record in the power sector.

For more information, please visit: www.ameapower.com 

Press contact:

Barbro Ciakudia

Business Development Manager

AMEA Power

T: +971 4 31 07 050

E: This email address is being protected from spambots. You need JavaScript enabled to view it.

When it comes to Concentrated Solar Power (CSP), SENER prides itself as a world leader in innovative and sustainable solutions for clean energy. This year has seen us achieve some of our most outstanding milestones since the start of operations in South Africa’s Northern Cape Province.

SENER reached a critical milestone in the construction project of the Kathu Solar Park, where synchronisation was successfully achieved in November 2018. This means that we are now connected to the grid and are generating electricity but for purpose of testing and ensuring that the plant can supply electricity to the national grid.

Synchronisation to the grid is one of the last steps before the plant starts commercial operation reassuring CSP as an efficient solution in the renewable energy sector with its high efficiency and performance to deliver energy to the South African grid during the evening peak.

Once fully operational, the plant will provide clean and reliable energy to the local community of the John Taole Gaetsewe District Municipality, in the Northern Cape Province.

SENER is also proud of the progress at the Ilanga1 Plant, that is the first and only CSP project that was conceived and developed by a 100% black owned South African developer. The Operations & Maintenance training provided by the Ilanga CSP1 partners is a first in the Renewable Energy Independent Power Producer Programme (REIPPP) and is in line with government’s four accords, emanating from the New Growth Path (NGP); namely basic education, skills development, local procurement and the green economy.

Our professional team in the country is currently finishing the commissioning tests for the solar plant, which is made up of 266 loops, conforming 870,000 mirror sqm approximately.

The Northern Cape MEC for Economic Development MacCollen Jack pointed out that the province is host to 51 of the country’s 102 Independent Power Producers with more than 19 projects already connected to the grid at a capacity of more than 900MW, has identified all renewable energy technologies including CSP as key in unlocking job opportunities for our youth, women and the transformation of our economy.

The technology group Wärtsilä announces the first order of its innovative new Wärtsilä Modular Block solution for power generation to Aggreko, a global provider of mobile, modular power, temperature control and energy services. Four Wärtsilä Modular Block enclosures with one medium-speed Wärtsilä 32 engine in each, will provide 40 MW of energy to Resolute Mining’s Syama off-grid gold mine in Mali, Africa. The Modular Block order was placed by Aggreko in November 2019.  This contract is the first one signed under the cooperation agreement between Wärtsilä and Aggreko, that was announced in June this year.

The Wärtsilä Modular Block solution will replace the existing diesel generators currently powering the mine. Thanks to the high efficiency of the engines the new solution will create substantial monthly savings in fuel costs. Fast-starting and load following capabilities will facilitate the integration of renewables into the mine’s energy system. The mine will be powered by a reliable, flexible and affordable solution, which will help to enhance the mine’s environmental impact.

Three Wärtsilä Modular Blocks, providing a total of 30 MW of power will be installed next to the existing power station in 2020. The fourth 10 MW Modular Block will be installed in 2022. The agreement with Aggreko includes an option to add a fifth 10 MW unit to the power plant. The scalability of Wärtsilä Modular Block solution enables the mine to add additional power capacity if needed to support the future growth.

“The Wärtsilä Modular Block supports our technology investment strategy and when included as part of a hybrid solution, has enabled us to offer Resolute an extremely cost-effective solution for 16 years,” addresses Stephane Le Corre, Strategy and Development Director at Aggreko.

“The Wärtsilä Modular Block solution opens up exciting new opportunities, both for permanent and rental electricity generation. We are delighted to be partnering with Aggreko in this rapidly growing market, and this first order is encouraging for the future success of our cooperation,” added Jean Nabb, Director, Strategic Partnerships, Wärtsilä Energy Business.

Aggreko is working at the forefront of a rapidly changing energy market and is focused on solving its customers’ challenges to provide cost-effective, flexible and greener solutions across the globe. More information here.

Caption text: The Wärtsilä Modular Block is a pre-fabricated, modularly configurated, and expandable enclosure for sustainable power generation.

For more information, please contact:

Christophe Demay

Senior Business Development Manager

Wärtsilä Energy Business

Mob. +33 6 78892182

This email address is being protected from spambots. You need JavaScript enabled to view it.  

Mirja-Maija Santala

Manager, Marketing & Communications

Wärtsilä Energy Business

Mob: +358 400 793 827

This email address is being protected from spambots. You need JavaScript enabled to view it.   

Wärtsilä Energy Business in brief

Wärtsilä Energy Business is leading the transition towards a 100% renewable energy future. As an energy system integrator, we understand, design, build and serve optimal power systems for future generations. Wärtsilä’s solutions provide the needed flexibility to integrate renewables and secure power system reliability. Our offering comprises engine-based flexible power plants – including liquid gas systems – hybrid solar power plants, energy management systems and storage and integration solutions. We support our customers over the lifecycle of their installations with services that enable increased efficiency and guaranteed performance. Wärtsilä has 70 GW of installed power plant capacity in 177 countries around the world.

https://www.wartsila.com/energy/

Wärtsilä in brief

Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2018, Wärtsilä’s net sales totalled EUR 5.2 billion with approximately 19,000 employees. The company has operations in over 200 locations in more than 80 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.

www.wartsila.com

The African Development Bank’s Board of Directors has approved a grant to the government of Sudan to accelerate the adoption of solar-powered irrigation pumps in the country’s West Kordofan and North Kordofan states.

The project will enable farmers’ adoption of renewable energy technology through the installation of 1,170 photovoltaic (PV) irrigation pumps, the establishment of maintenance and repair workshops for the pumps, and the supply of equipment for a pump testing laboratory to provide certification and training.

Agriculture is an important economic sector in Sudan. In 2016, nearly 40% of the country’s GDP came from farming. For the sector, and for the wider economy, the project offers significant and numerous knock-on benefits. As a result of the expected phasing out of diesel-fueled pumps, participating farmers will realise cost savings from no longer needing to purchase diesel, which is scarce in rural areas. Productivity also would increase: diesel generators require time consuming maintenance and repair. Pollution and greenhouse gas emissions from agriculture, the country’s largest contributor, would fall.

Mr. Paul Baldeh, the Bank’s Director for Power Systems Development, noted that “by extending farmers a grant covering 75% of installation costs, the government, with Bank support, will overcome the most significant hurdle of adopting clean PV technology: high upfront costs.” The remaining 25% will be payable in installments over three years. He added that the project will conduct a ground water survey and sustainability assessment that will inform the development of subsequent projects in Sudan.

The project meets the Sudanese government’s renewable energy and poverty reduction objectives as well as the Bank’s High Five and Energy Sector Policy. Moreover, the project has strong potential to be replicated and scaled up in other parts of the country.

Contact: 

Olufemi Terry - This email address is being protected from spambots. You need JavaScript enabled to view it. |Communication and External Relations Department | African Development Bank.

The investment secures a share in Rensource, a company which develops decentralized solar energy systems for small businesses and micro-companies. The plan reinforces the strategy to widen access to sustainable energy in the african continent.

EDP Renováveis will invest $3 million in Rensource, a company that develops and manages decentralized solar energy systems, to support its expansion in Nigeria. With this investment, EDP reinforces the group's strategy for universal access to sustainable energy, which has been promoted through the A2E (Access to Energy) program.

Rensource, established in 2015 in the US and operating in Nigeria since 2016, is a company specialized in implementing and managing decentralized solar energy systems, which enable the generation and distribution of electricity as well as the trading of energy services in the different communities in which it is present. The company is already in seven states of the country, focusing on small businesses and micro-companies, and has more than 200 employees.

This $3 million investment (about € 2.6 million) - which was the result of a financing initiative completed by EDP Renováveis and other international investors such as CRE Ventures, Omidyar Network, Inspired Evolution, Proparco, I&P, Sin Capital and Yuzura Honda - will allow EDP Renováveis to participate in Africa's largest market. The goal now is to support the company's expansion in Nigeria, the initial focus of Rensource's strategy, and to bring sustainable, low-cost energy solutions to more communities.

“EDP has long been committed to supporting solutions that promote universal, affordable and sustainable access to clean energy, especially in disadvantaged and developing communities”, as António Mexia, CEO of EDP, explains. “The Rensource project reflects this ambition by developing systems that support a fair energetic transition and contribute to the growth and sustainability of local economies through access to renewable energies.”

With this new investment, EDP continues the strategy defined in the A2E program, in which it has committed to investing 12 million euros by 2020, impacting 200,000 people, mainly in developing countries. In addition to promoting sustainable energy for all, this strategy enables EDP to become a relevant A2E operator in emerging markets.

This commitment is alongside the investment of one million euros in social responsibility activities that, through a philanthropic fund, aim to reduce electricity exclusion, something that still affects nearly one billion people.

These ambitions are in line with Rensource's own growth plan. Ademola Adesina, founder and CEO of the US-based company, believes that simultaneously greening and decentralising its power infrastructure is the only way to navigate Nigeria to break out of its current state of energy poverty. He adds that pursuing this with a focus on the millions of small businesses that drive the Nigerian economy creates a massive multiplier effect whose benefit accrues to all. “The push into O2O (offline to online) is a natural step that takes advantage of Rensource's existing infrastructure to further empower the merchants we serve. Our goal is to connect 500,000 merchants over the next five years and, in this context, we welcome EDPR to the Rensource project and look forward, together, to achieve our ambition goals.”

The Ministry of Industry, Trade and Energy has issued an expression of interest to pre-qualify developers for two 5 MW solar plants. The facilities will be on the islands of Sal and São Vicente.

Cape Verde’s Ministry of Industry, Trade and Energy is seeking developers for two 5 MW generation capacity ground-mounted PV projects.

The government wants to use the tender to select independent power producers for projects on the islands of Sal and São Vicente. The plants will be built on a build, own and operate basis.

Developers have until January 31 to pre-qualify for the tender. Notice of publication of the tender did not include any further financial or technical details.

According to the International Renewable Energy Agency, Cape Verde had 8 MW of installed solar capacity at the end of 2018.

The government expects to generate 30% of its electricity from renewables in 2025 and 50% in 2030.

Government is set to facilitate the creation of a financial institution in Rwanda that will be solely dedicated to funding projects that promote climate change resilience.

The development was first announced during the 25th Conference of Parties to the United Nations Framework on Climate Change which was held in Spain recently.

Speaking to The New Times, Doreen Nakure, a communication specialist at Rwanda Green Fund (FONERWA), said that the Fund has already contracted experts who will come up with a clear picture of how the bank will look like. According to Nakure, FONERWA has contracted the Coalition for Green Capital (CGC), which provides lead expertise on green bank design internationally, to provide an outlay of the bank. She said the bank will be called the Rwanda Catalytic Green Investment Bank (RCGIB), adding that other details, like the initial capital, will be determined by the CGC study currently underway.

The Coalition for Green Capital is a non-profit organization focused on accelerating the growth of clean energy markets through the creation of Green Banks. It offers a unique and proven capacity as the leading creator, advocate, and expert on Green Banks since 2009 and works directly to support the formation of Green Banks with governmental and civil society partners, and provide on-going consulting and guidance to operating Green Banks.

The Rwanda Green Bank proposal follows one South Africa, which has set up the same bank that also finances green projects undertaken in the country with initial balance sheet of over $100 million. “This initiative aims at promoting green investments in Rwanda, with a unique and specific focus on financing, unlocking and expanding private investment like debt and equity in the local green sectors”, Nakure said. The initiative, she said,  is being designed with a set of guiding principles particularly independent investment decision-making, ability to raise financing from Development Financial Institutions as well as the private sector based on best practices from international Green Banks and facilities, as well as strategic input from FONERWA and other market participants. Asked whether it will be state-owned or a private-owned bank, she said it was not clear at the moment. “Since it’s a project under study, we cannot tell with certainly and it will depend on a lot of issues under discussion but it might be a privately-owned initiative. It will all depend on the outcomes of the consultations currently underway”. She said that once set up, the Green Bank will finance both public and private green projects as long as they meet the set criteria. She clarified that while FONERWA is a government fund that invests in financing green projects, the other will operate more like a financial institution.

Over 138,000 green jobs have been created by FONERWA since its inception in 2013.

The Fund has enabled protection of over 21.1 million hectares of land against erosion. At least 41,116 hectares were covered with forestry and agroforestry while 26.3 million hectares of watersheds and water bodies were protected.

The green fund says 65,340 households have since got access to clean energy as 65 million tonnes of global warming gases (carbon emissions) were avoided.

Gabiro said that 108,038 people were supported to cope with climate change effects.

Rwanda has set up the ambition to be a developed, climate-resilient and low carbon economy by 2050.

The African Development Bank (AfDB) has approved a US$20mn investment in the Metier Sustainable Capital International Fund II, which channels funds to renewable energy and resource-efficient infrastructure projects across sub-Saharan Africa

The Bank’s funding will contribute to production of an additional 178.5MW of renewable power for commercial and residential use. It will also create opportunities for industrial wastewater treatment and waste-to-energy generation. The Fund will meet the Bank’s strict environment and safeguards standards to ensure potential risks are adequately mitigated.

Wale Shonibare, AfDB’s acting vice-president for power, energy, climate change and green growth, said, “Metier has extensive experience in developing and financing renewable energy projects with strong technical partners and co-developers in Southern Africa. We are pleased to join other investors in supporting their expansion into new African markets to help unlock the vast renewable potential of the continent.”

He said the investment was part of the Bank’s efforts to alleviate financing constraints in the renewable energy sector.

Metier is a well-established fund manager with a track record of deploying more than US$550mn in African countries, including solar, wind and hydropower projects in Southern and East Africa.

The company has been an important player in South African solar power, a maturing technology that offers significant benefits in terms of storage and dispatchability to the grid, unlike traditional photovoltaic options.

Uganda has released a revised draft of the National Energy Policy, which seeks to replace the older one of 2002, by, among other things, embarking on strategies that can promote new forms of energy such as solar and geothermal power.

By promoting the supply of new energies, government says the new policy will also focus on growing domestic demand and tapping into regional markets. The idea of growing demand is partly to influence a drop in power tariffs.

According to government statistics, biomass energy contributes 88 per cent of the total primary energy consumed in the country. This biomass energy is consumed mainly through firewood, charcoal and crop residues.

Electricity, especially hydropower, contributes approximately two per cent, while fossil fuels (oil products) account for 10 per cent of the national energy mix. The increased use of biomass, especially in the rural areas, is largely because many of the people there cannot afford to pay for electricity.

“There is limited productive use of electricity especially in rural areas which negatively affects demand growth, affordability and uptake. Low demand growth compared to planned generation capacity is likely to exert pressure on consumer tariffs”, the draft energy policy notes.

“Affordability is also impacted by other factors including pricing that is in turn affected by foreign exchange rate fluctuations, inflation and the performance of energy service providers”.

To attract more investments into the sector, the energy policy intends to gradually shift from primarily private sector led growth to public-private partnerships, and increased public financing of sector developments aimed at increasing affordability.

Even then, the government is cautious about the future of hydropower. The energy policy talks about the impact of formulating innovative financing mechanisms for private geothermal resource development through provision of fiscal and other incentives, on top of soliciting funds for the management of geothermal exploration risk in order to attract investors.

UK firm Bantu RG Energy, through its local subsidiary – Bantu Energy Uganda Limited – is looking to become the first company to put up a geothermal power plant in Uganda connected to the national grid.

The company has written to the Electricity Regulatory Authority over its plans of building a 10MW geothermal power plant in the Panyigoro area of Nebbi district. The company plans to first undertake feasibility studies before applying for a generation license.

Uganda plans to promote solar energy through different interventions, with the policy mentioning the provision of tax incentives and waivers for solar thermal equipment as a key strategy that the government will use.

The U.S. African Development Foundation (USADF) and All On have officially opened the application window for the 2020 Nigeria Off-Grid Energy Challenge, which will provide up to $100,000 in blended finance per enterprise for successful applicants. The 2020 application window opens on January 15 and closes on February 29, 2020.  The Rockefeller Foundation is also providing funding support for the 2020 edition of the program. 

USADF, a founding member of Power Africa established by Congress to support and invest in African-owned and led enterprises, and All On, an off-grid energy impact investing company seeded by Shell in Nigeria, established the Challenge as a multi-year partnership to identify and help scale innovative off-grid solutions to “power up” unserved and underserved areas in Nigeria. 

Now in the third year of the partnership, the parties will jointly provide funding to 100% African-owned and operated small- and medium-size enterprises that improve energy access through off-grid energy solutions spanning solar, wind, hydro, biomass, and gas technologies.  The enterprises may be developers of their own technology and/or acquiring and implementing technologies developed elsewhere. To benefit, applicants need to be legally registered in Nigeria, demonstrate the capacity to track and manage project resources, and operate in good standing with the local governments in their areas of operation. Up to $50,000 per selected company will be provided in the form of convertible debt, along with up to $50,000 of grant capital.   

Sixteen Nigerian companies have been selected through the 2018 and 2019 editions.  The winners of the 2019 Nigeria Off-Grid Energy Challenge were ICE Commercial Power, Sosai Renewables, Greenage Energy, Pirano Energy, Sholep Energy, Entric Power Systems, ACOB Lighting, NexGen Energy, and Protergia Nigeria.  In the first edition of the Challenge in 2018, the recipients were Prado Power Ltd, Darway Coast, Auxano, Eastwind Labs, Alyx, Creeds Energy, and iKabin.  

According to 2018 Challenge winner Ola Abraham, CEO of EastWind Labs, “The USADF-All On blended finance has enabled my company to profitably provide solar-powered Refrigeration as a Service (RAAS) to Ile-Ife, touching hundreds of families and businesses daily.  The USADF and All On due diligence process is brutally thorough. You'd think they want to deny you the funding. On the contrary; that's just the secret sauce for your business success. APPLY, COMPETE, WIN.”  

Aaron Esumeh, CEO of Enugu-based 2019 Challenge winner Greenage Energy, added, “The selection process for the USADF-All On Off-Grid Energy Challenge was very detailed and transparent, and winning the Challenge has inspired us greatly.   This opportunity will make us more impactful to society, providing electricity to the underserved.” 

To access the application form, visit: www.usadf.gov/off-grid or https://www.all-on.com/the-all-on-hub.html 

All general inquiries and applications should be sent to: This email address is being protected from spambots. You need JavaScript enabled to view it. 

The application closes on February 29, 2020. 

The difficulties involved in implementing infrastructure projects in most Sub-Saharan African countries are well-known: political risks, cost of mobilizing capital, weakness of existing electric grids, inadequate assets management capacities, insufficient training of local authorities, insufficiencies with the regulatory frameworks, lack of planning, liquidity shortages in the financial sector, financial robustness of the off-takers, etc.

While there is a general consensus that the massive and rapid deployment of power generation facilities in Africa is essential to the continent’s economic and human development, there are several ways to achieve this goal. A long term view could mean favouring the deployment of large hydropower dams, decarbonised solutions that take a long time to implement and are not necessarily suitable for all regions. Conversely, the pressing urgency may encourage decision makers to opt for easier solutions: the use of thermal power generation plants (coal, gas or diesel fired power plants) that are quicker to deploy but generate more CO2. Although complementary, these two strategies each appear unable to provide a single response to the future needs of a population that will count an additional 1.3 billion people in thirty years’ time: the first option has the disadvantage of a development phase that is too long for the state of urgency observed, the second is inadequate in both climatic and economic terms, due to the increasing prices of fossil fuels.

For almost a decade, the development of photovoltaic solar power generation technologies offers new perspectives for electrifying the African continent. The falling prices of solar panels and batteries, the exponential growth of solar energy world-wide, and various initiatives, including the Africa Renewable Energy Initiative (AREI) or Jean-Louis Borloo’s public addresses, have implied that the problem of access to energy in Africa had been resolved, or is at least in the process of being so. In fact, the truth is quite different. Today, only around ten solar power plants of more than 5 MW have been connected to the grid in the whole of Sub-Saharan Africa (excluding South Africa), four of which are in Senegal. Africa remains notably absent from the global wave of solar power plant deployment. This is a collective failure for which the underlying reasons must be analysed.

Nithio Holdings, Inc. (“Nithio”) is excited to announce the disbursement of its first debt facility to Winock Solar headquartered in Abuja, Nigeria. This financing agreement is the result of a partnership between Nithio and Solar Nigeria, a program funded by UK aid implemented by Adam Smith International that aims to accelerate access to solar power in Nigeria.

Nithio provides financing to off-grid solar energy companies through receivables purchases as well as corporate loans backed by receivables and inventory. Utilizing its proven credit scoring algorithms, Nithio is uniquely positioned to value off-grid solar companies’ portfolio risk and channel commercial and concessional financing at scale. Nithio targets a broad range of off-grid solar companies, with initial target markets including Nigeria, Kenya, and Uganda and aims to scale beyond in the next five years.

“The successful execution of our first loan agreement is an important milestone in Nithio’s role to provide financing to off-grid solar energy sector,” said Hela Cheikhrouhou, Nithio’s CEO. “As the off-grid solar companies further scale and expands into new markets, Nithio helps investors improve their performance by leveraging geospatial data and predictive analytics to better manage energy users’ credit risk. Nithio serves as a conduit that allows investors to provide scalable funding to the off-grid solar sector in Africa, blending concessional and commercial capital to achieve sustainable future growth of the industry.”

Nithio supports both multi-country and local off-grid solar energy companies, providing access to much needed growth capital.

“We are excited to partner with Nithio towards providing off-grid solar access to a market of 37 million Nigerian micro-businesses. Lack of access to clean and sustainable energy is the bane of environmental, social and economic sustainability in Sub-Saharan Africa. The opportunity is apparent, but the poor availability of data and capital makes it difficult to achieve scale. Nithio’s predictive data analytics will help Winock Solar and its industry peers to organize their deep knowledge of consumer behavior and climatic conditions to develop insight that can be utilized by investors and project developers to solve lack of access to energy in Sub-Saharan Africa.” Sanmi Lajuwomi, CEO Winock Solar.

“This is an important initiative to support emerging solar providers in the Nigerian market. The Nithio- Winock collaboration is in line with Solar Nigeria’s goal of expanding the solar market and consequently improving access for under-served households,” Bodunde Onemola, Programme Manager Solar Nigeria.

Schneider Electric Solar Spain S.A., the Spanish entity of the Schneider Electric solar business division has entered into a strategic alliance with Qbera Capital LLP, a leading asset management & independent advisory firm, to further support solar energy growth across selected frontier & emerging markets.

The Qbera-Schneider Electric Solar alliance provides a distinctive technical and financial proposition – further facilitating transition to net-zero carbon and specific UN Sustainable Development Goals (SDGs).

UN SDG 7 focuses on a global effort to achieve universal access to affordable, reliable, sustainable and modern energy by 2030. According to the recent Energy Progress Report, by 2030, there will still be about 650 million people without access to electricity, and 9 out of 10 of them will live in Sub Saharan Africa. Often the biggest hurdle to deploying renewable energy in Sub-Saharan Africa is the lack of holistic approach including financing and technology.

Following recent successes in the Commercial and Industrial (C&I) segment, particularly in Sub Saharan Africa, the alliance provides corporates with a one stop solution integrating technical, financing, digital and equipment solutions supporting clean energy transition across frontier & emerging markets.

The first round of projects of 15MW will be rolled-out across in Mali, Ghana and Burkina Faso. Additional deployments of over 60MW will further target six countries. Both parties have successfully focused on financing and developing solar energy & energy efficiency projects in Sub Saharan Africa (SSA), with potential to cover a greater part of all Sub Saharan continent.

“I am very excited about this new business model that has already materialized into the first success,” said Robert Immelé, CEO and Chairman of Schneider Electric Solar. “With this alliance, we are removing one of the biggest roadblocks in green energy deployment, aligning customer needs, advisory, technology and financing.”

“I am very excited about our alliance with Schneider Electric Solar. We continue to see an underserved market for solar across frontier & emerging markets, as such we are aiming to support a vast network of commercial and industrial companies with a complete solar solution,” said Ali Shafqat, CEO of Qbera Capital.

The alliance also deepens both organization’s commitments & tangible deliverables towards multiple Sustainable Development Goals (SDGs)

VentureBuilder and the United States African Development Foundation (USADF) announced today (17 February 2020) their partnership to sustainably help scale up indigenous off-grid solar enterprises across Africa. With over 100 million African households still lacking access to modern energy services, this new partnership will support the development of off-grid solar enterprises to meet the demands of underserved populations on the continent. 

Under this new partnership, announced ahead of the Global Off-Grid Solar Forum, VentureBuilder will continue to pioneer its innovative business model by providing ‘patient’ early-stage capital and Enterprise Development Services to its local partners in Africa, while USADF will provide grant funding and local in-kind technical support to further strengthen the local partners’ ability to scale in less mature markets. 

VentureBuilder and USADF target the same types of African-owned enterprises that improve the lives of the most vulnerable and poor in Africa through investments and technical assistance to foster local economic development. VentureBuilder and USADF only consider enterprises that are legally registered in their country of operation, are locally-owned and -managed, and meet rigorous due diligence standards related to governance, operations, and fiduciary matters.  

Via their collaboration, VentureBuilder and USADF will streamline the sourcing, vetting, and post-investment support process. USADF will provide grant financing, while VentureBuilder will provide early-stage equity and a suite of Enterprise Development Services to off-grid solar enterprises. 

“We’re thrilled to announce this collaboration with USADF, given that have a shared mission to catalyze a new generation of indigenous off-grid solar businesses across Africa,” said Dan Murphy, Managing Director of VentureBuilder. “USADF’s grant resources will enable VentureBuilder to more efficiently deploy equity into partner companies, and our Enterprise Development Services will accelerate companies’ path to sustainable scale and impact”.  

“USADF is proud to partner with VentureBuilder to help local entrepreneurs thrive in the off-grid sector and increase their impact locally,” according to C.D. Glin, USADF President and CEO at USADF. “Our partnership with VentureBuilder will enable us to maximize our investments in Africa and reach underserved community enterprises.” 

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About VentureBuilder: VentureBuilder provides flexible, long-term early-stage financing as well as Enterprise Development Services to African-owned and managed distribution enterprises. VentureBuilder will catalyze a new generation of businesses that deliver affordable, reliable, and sustainable electricity access across Africa. VentureBuilder co-developed by Catalyst Off-Grid Advisors and Open Capital Advisors since 2017, leveraging both companies’ decades of experience in building, advising, and financing off-grid solar companies. The development phase was made possible with support from Facebook, who also committed additional financing alongside the DOEN Foundation, Shell Foundation, and USAID for VentureBuidler’s implementation phase. To learn more, visit www.venture-builder.com. 

About the United States African Development Foundation (USADF): The U.S. African Development Foundation (USADF) is an independent U.S. government agency established by Congress to invest in African grassroots organizations, entrepreneurs and small- and medium-sized enterprises. USADF's investments promote local economic development by increasing incomes, revenues and jobs, and creating pathways to prosperity for marginalized populations and underserved communities. Utilizing a community-led development approach, USADF provides seed capital and local project management assistance improving lives and impacting livelihoods while addressing some of Africa's biggest challenges around food insecurity, insufficient energy access, and unemployment, particularly among women and youth. Over the last five years, throughout Africa, with an emphasis on the Horn, Sahel and Great Lakes regions, USADF has invested more than $115 million dollars directly into over 1000 African-owned and operated entities and impacted over four million lives. 

Contact:  

In Paris: Thao Fabregas: This email address is being protected from spambots. You need JavaScript enabled to view it. 

In Washington: Jarvis Holliday: This email address is being protected from spambots. You need JavaScript enabled to view it. 

Website: www.venture-builder.com  

Website: www.usadf.gov  

LinkedIn: VentureBuilder | USADF 

Facebook: @VentureBuilderAfrica | @USADF 

Twitter: @VB_Africa | @USADF