22 October 2024: Madica, a structured investment program designed for pre-seed stage startups in Africa, has announced its investment in Earthbond, a climate tech startup unlocking affordable, reliable solar energy for Nigerian SMEs via an integrated clean energy marketplace. Following the investment, Earthbond will participate in Madica’s comprehensive investment program which includes 18 months of dedicated company-building support.

Launched in 2022 and affiliated with Flourish Ventures, a global Fintech venture capital firm with purpose, Madica provides investment funding of up to $200,000 and delivers support to portfolio companies through a highly personalised startup curriculum, hands-on mentorship, and fully-funded week-long founder immersion trips. Selected startups also stand to gain executive coaching opportunities, and access to Madica’s global network of investors for follow-on funding – all designed to spur growth and ensure the long-term viability of the startups.

Founded in 2023 by Chidalu Onyenso, an experienced product manager with an MBA degree from Harvard and more than 10 years in the field, Earthbond is tackling Nigeria’s $14B off-grid generator market by leveraging group financing and carbon accounting to reduce costs and risks in the energy transition. Between 2017 and 2023, Nigeria’s grid collapsed 46 times, forcing about 86% of companies to rely on costly and polluting fossil-fuel generators, which cost businesses over $29 billion annually. Solar power offers a cheaper and more sustainable alternative, but high installation costs deter small and medium businesses (SMBs) from its adoption. To address this challenge, Earthbond enables businesses to go solar through access to embedded solar finance and a marketplace of accredited solar installers and suppliers.

Since launch, Earthbond has completed audits for more than 100 qualified customers in Lagos, representing a potential pipeline of $1 million in solar projects. More than 1,800 Nigerian SMBs have also expressed interest by joining the waitlist, highlighting the gap and product-market fit. The rising startup has established partnerships with four local commercial and microfinance banks to facilitate loans for SMEs seeking to transition to solar power.

Madica’s investment will help drive Earthbond’s ambitious growth by boosting its financing capacity, enabling $10 million in targeted loan originations over the next 3 years. The funds will also enhance sales and marketing efforts and develop innovative maintenance and payment tools to enhance the customer experience. Additionally, EarthBond plans to create a unique revenue stream by offering discounts based on carbon credits, incentivising businesses to join the program.

Chidalu Onyenso, Earthbond CEO, said: “This is a pivotal moment for Earthbond, and a powerful endorsement of our mission. We’re really excited to be joining the Madica portfolio family. Leading the charge of energy transition is no easy feat and we are glad to be joined by renowned investors who share our passion and drive. We look forward to the doors this support opens and also to a greener and cleaner future”.

Emmanuel Adegboye, Head of Madica said, “We are excited to be investing in this exceptional startup as it tackles some of today’s biggest climate challenges. We won’t be able to continue the advancements of the African tech ecosystem without addressing power, and we are impressed by the team at Earthbond, their vision, and the technology that provides an affordable and eco-friendly solution. Earthbond has tremendous potential to drive an equitable clean energy future and positively impact our region.

“Investing in Earthbond reaffirms our mission to demonstrate that exceptional founders and products exist beyond the usual homogeneous groups, and we remain devoted in our quest to support underrepresented founders and fuel the growth of pioneering startups across underserved African regions.”

Earthbond recently joined fellow Madica portfolio companies Kola Market, GoBEBA, and Newform Foods and mentors on an immersive trip to London, showcasing Madica’s dedication to founder growth. This fully-funded, week-long initiative, coming on the back of the previous trip to South Africa was designed to fully immerse founders in the UK entrepreneurial ecosystem, opening up investment and partnership opportunities within the Afro-European corridors. Founders engaged in expert-led sessions, networked with potential investors and stakeholders, and participated in deep-dive workshops on investment readiness, organizational culture, and team building. As part of the carefully curated itinerary, the team also participated in various tech startup events and Africa & Diaspora-focused activities, including Africa Ignite x London Africa Network, Africa Tech Summit London Edition, London Startup Ecosystem Mixer by Hoaq and Wimbart, among others.

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About Madica: Launched in 2022, Madica is an Africa-focused pre-seed investment program empowering underrepresented and underfunded mission-driven founders on the continent. The sector-agnostic platform, affiliated with Flourish Ventures, aims to empower entrepreneurs with the provision of funding and also democratize access to world-class company-building support.

15 October 2024: A new study from CrossBoundary’s Innovation Lab shows that reducing electricity tariffs for mini-grid customers in rural Sierra Leone significantly increased energy use. The study focused on “mini-grids” – self-sufficient electricity grids that serve households and businesses isolated from or integrated with the main grid. The Innovation Lab’s analysis suggests that while tariff reduction can drive energy consumption and benefit low-income consumers, it needs to be strategically implemented with supporting policies to ensure mini-grid sustainability.

Tombo Banda, CrossBoundary Managing Director & Innovation Lab Lead, explained the significance of the findings: “Lowering electricity tariffs makes power more affordable for rural communities. We saw average energy use per customer increase by 58% where tariffs were reduced, compared to just 6% in areas without tariff cuts. This demonstrates how making electricity more affordable can boost energy access and economic activity in rural areas.”

However, Banda cautioned that simply cutting tariffs isn’t a complete solution. “Reducing tariffs in countries where currency values are unstable and inflation is high can create challenges for mini-grid operators, especially if they have expenses in foreign currencies. We need additional de-risking measures to help these operators reduce their tariffs confidently.”

The study suggests several ways to support tariff reductions on a larger scale:

1. Optimized subsidy programs to maximize impact to end-users and minimize longterm dependency;
2. Financial tools such as hedging funds to offset macro-economic risks, such as currency devaluation;
3. Increased access to local currency financing for mini-grid projects.

Despite the 41% tariff reduction, revenues per customer did not drop; however, the study found that high inflation and currency devaluation did impact the real value of revenue collected. These economic factors also increased operating costs, which can affect the reliability of electricity supply.

“Our findings underscore the need for a comprehensive approach to developing mini-grids,” Banda concluded. “By making electricity both affordable for rural communities and sustainable for operators, we can unlock the full potential of mini-grids to drive rural electrification and economic growth across Africa.”

For more details on the study and its recommendations, visit: https://crossboundary.com/mini-grid-innovation-insight-harmonizing-tariffs-in-sierra-leone/.

15 October 2024: The International Energy Agency (IEA) estimates $110 billion will be invested in energy across Africa in 2024, as global players leverage the continent’s potential for solar, wind and natural gas production.

Continued growth is dependent on significant investment, targeted at improving African energy infrastructure and human skill sets to support the global energy transition from fossil fuels to renewables.

According to Risana Zitha, Managing Director and Head of Africa at investment bank DAI Magister, emerging technologies, falling costs and digitalisation are paving the way to a profitable renewable business case across Africa. However, to successfully leverage this potential, a combination of attractive investment frameworks and policy development must be employed to relieve energy poverty in Africa, while strengthening its position in the global energy supply chain.

Zitha said: “A lack of investment in African energy infrastructure and maintenance has led to low-energy supply with high electricity costs, contributing to extreme energy poverty and notable ‘white space’ across the continent.

“Secondary impacts of a lack of affordable, reliable power include the reduced provision of education and public health, constricted economic development, and lower living standards. Establishing a framework that can scale to meet demand is essential if we are to improve household access to electricity and lessen the repercussions of energy poverty. Once in place, the foundations for a fully functioning energy market will deliver benefits on many fronts, creating jobs and attracting investment in the process.

“Spanning 54 countries of varying policies, regulations and levels of development, no single approach to energy accessibility can be applied across the whole continent. However, that does not make it less of a priority. While improved access will undoubtedly lead to a more resilient and prosperous economy, additional measures to drive digitalisation, including the adoption of online payment platforms, will aid in alleviating financial barriers for investors and end-users.

“Africa has no choice but to skip directly to renewable energy. Nigeria, Angola, Mozambique, Equatorial Guinea, Namibia and a very small number of other countries have oil and gas reserves of any significance and South Africa has coal reserves. Therefore, most other countries simply have no choice but to directly target renewable energy. The reward for energy companies that champion this approach is very high profit margins once they work out how to successfully scale their offering.

“After a reliable domestic energy pipeline is established, the next phase in the process is to export energy to neighbouring markets and bolster the global supply chain. In doing so, Africa can reap the full benefits of its renewable potential and convert abundant resources into genuine assets.”

Zitha concluded: “Efforts must be made to prioritise the development of modern, resilient and sustainable energy systems in Africa. Provided obstacles are navigated successfully and tackling energy poverty remains a key focus, Africa is at a pivotal point where its resources could redefine its global economic standing.”

13 October 2024: In an effort to drive domestic green energy investments, GET.invest launched its new service EDGE Finance (Enabling Domestic Green Energy Finance) at the Global Off-Grid Solar Forum & Expo 2024 in Nairobi. EDGE Finance specifically targets domestic financial institutions, such as commercial banks, microfinance institutions, and pension funds, providing them with the necessary knowledge, tools, and network to support green energy initiatives in their markets.

Green energy investments must increase significantly to meet universal energy access and global climate goals. However, many green energy projects and companies face significant barriers in accessing adequate funding which, when available, often comes with high costs, short tenors, and additional risks due to currency mismatches between inflows and outflows. Domestic financial institutions are well-positioned to address these challenges – given their deep market knowledge, financial assets, and ability to provide local currency funding – but they often struggle with limited experience in green finance, pipeline development, risk assessment tools, and the availability of tailored financial products for green energy projects.

EDGE Finance aims to support domestic financial institutions in overcoming these challenges by offering a comprehensive capacity building package that includes tailored coaching, training and advisory services. It will be implemented through a new and innovative combination of on-site staff coaching over several months and online training modules for deepening or reinforcing specific topics. The overall capacity building will target all green energy finance-relevant groups within financial institutions, from management level to risk, communication, SME, or corporate loan officers as well as other related teams.

The new service is part of GET.invest’s efforts to mobilise funding for clean energy and is closely linked to the GET.invest Finance Access Advisory (FAA), creating a comprehensive support system from project preparation to financial closure.

“EDGE Finance directly addresses the lack of capacity among domestic financial institutions to finance green energy projects. This capacity gap often leads to missed opportunities, as many institutions are unable to structure appropriate financial products or assess the unique risks of this kind of investments. Equipping domestic financial institutions with the right knowledge, tools and support is key to ensuring that they can be drivers of the green energy transformation.” - Sebastian von Wolff, Head of Finance Systems Advisory at GET.invest.

EDGE Finance’s activities will start with Kenya and later expand to additional countries where GET.invest operates. The service will be implemented by a consortium led by Internationale Projekt Consult GmbH (IPC), with support from the Renewables Academy (RENAC) AG. IPC brings over 40 years of expertise in helping banks and microfinance institutions strengthen their business models, explore new client segments, and capture emerging market segments such as green energy finance. RENAC complements this with over 20 years of excellence in green energy and sustainable finance training. Together, both partners have extensive experience working in GET.invest target regions and supporting financial institutions worldwide.

Financial institutions interested in receiving support can reach out at This email address is being protected from spambots. You need JavaScript enabled to view it. to express their interest, check the eligibility criteria and request application materials. Read more about our offer to domestic financial institutions here.

8 October 2024: Off-grid solar is the most cost-effective way to power 41% of people globally by 2030 who are still living without energy access. The sector already provided 55% of the new connections in sub-Saharan Africa between 2020 to 2022 – where over 80% of the unelectrified population lives.

The latest Off-Grid Solar Market Trends Report (MTR) 2024, published today by the World Bank’s Energy Sector Management Assistance Program (ESMAP) and GOGLA, warns that a 6-fold increase over current investment levels – or $21 billion – is required to realize off-grid solar’s potential to contribute to universal energy access, or this opportunity will be missed. Under the current trajectory, 660 million people are projected to still be without electricity by 2030.

“We must rewrite this story,” remarked Qimiao Fan, the World Bank’s Country Director for Kenya, Rwanda, Somalia and Uganda. “Providing access to affordable, clean electricity is critical for lifting people out of poverty on a livable planet, and we must be bold in our commitment to doing so. The World Bank Group has therefore partnered with the African Development Bank to connect 300 million people to electricity across Africa over the next 6 years, under the Mission 300 initiative. Off-grid solar will play a critical role in reaching households, as well as accelerating electricity access for businesses, schools, and health centers, unlocking development across sectors.”

“With the Off-Grid Solar Market Trends Report, off-grid solar is again proven as the most effective route to reach almost 400 million unelectrified people, delivering life-changing energy solutions to power their homes, farms, businesses, and public services. The industry has shown tremendous resilience in challenging macroeconomic conditions. Companies, investors, governments, and development partners need to work together NOW to unlock the $21 billion needed to create a financially sustainable off-grid solar sector, that can scale, serve the hardest-to-reach and help achieve energy access and climate goals and ambitious initiatives like M300.” said Sarah Malm, Executive Director at GOGLA.

KEY FINDINGS

• 685 million people are still living in energy poverty. The number has grown for the first time in two decades and, without immediate action, 660 million people will remain without access by 2030. Off-grid solar solutions would be the most cost-effective way to reach 41% of them (398 million people).
• The off-grid solar sector has shown tremendous resilience over the past two years in challenging macroeconomic conditions. As of 2023, off-grid solar solutions were estimated to benefit over 560 million people. Despite soaring inflation and extreme currency devaluations, among other factors, more than 50 million OGS products were sold in 2022 and 2023. Market turnover reached 3.9 billion USD in 2022 and 3.8 billion USD in 2023.
• Affordability remains a critical barrier for households: Only 22% of households lacking electricity can afford the monthly payment for a Tier 1 solar energy kit on PAYG (a monthly payment system that increases affordability for those users who can’t afford an upfront cash payment). In conflict-affected areas, where 64% of people lacking access live, prices to offer PAYG are 57% higher, making them even less affordable.
• Investment into the off-grid solar sector reached a high of $1.2 billion during the 2022–23 period, largely driven by debt financing. However, a 6x increase in public funding is necessary: $21 billion to electrify all the 398 million people who would be most efficiently connected via off-grid solar. A further $74 billion would cover the addressable markets for solar water pumps, cold storage solutions, and Tier 2+ OGS solutions for Micro, Small and Medium-sized Enterprises (MSMEs).
• Initiatives like Mission 300 from the World Bank and the AfDB to electrify 300 million people across Africa and integration of OGS in national electrification plans and energy transition plans indicate off-grid solar is increasingly being recognized in the international agenda.

Companies, investors, governments and development partners need to work together to ensure off-grid solar fulfills its potential, enabling the achievement of SDG 7, and having a transformative impact on households, businesses, farmers and social infrastructure.

The MTR was presented at the plenary session of the biennial Global Off-Grid Solar Forum and Expo in Nairobi to over 1500 attendees, including 100+ policymakers, 100+ investors and development actors, and hundreds of companies across the distributed renewables sector.

Read the full report.

27 September 2024: Technology group Wärtsilä will supply the engines and auxiliary equipment for a power plant being installed at the Boto gold mine in Senegal. The order, which was booked by Wärtsilä in Q1 2024, has been placed by Africa Power Services (APS), the France based main contractor for the engineering, procurement and construction of the power plant. The mine has been recently acquired by Managem, an international mining group with operations in eight countries across Africa.

"The mine is remotely located and has no connection to the grid. This power plant is therefore crucial for its operations, and we needed to find a partner capable of providing reliable supply of electricity. Wärtsilä's track record is outstanding and they were offering the best equipment and best delivery times for this fast-track project," said Romain Darracq, Head of Sales Support at APS.

The 17 MW power plant will operate with six Wärtsilä 32 engines to be delivered on an engineered equipment (EEQ) basis.

"The configuration provides good flexibility and optimal performance of the power plant under varied load demands. Wärtsilä has a strong presence in Africa with its regional setup in Dakar effectively supporting the customers' operations throughout the lifecycle of their power plants," commented Sameer Poredi, Business Development Manager, Lifecycle at Wärtsilä Energy.

The Wärtsilä 32 engine generating set has established a reputation for reliability during 30 years of successful operations, delivering more than 8,000 MW of energy to customers around the world. Its fast-starting flexibility supports the integration of intermittent supplies of renewable energy, such as wind and solar, into power systems by enabling efficient grid balancing.

The equipment deliveries are targeted to be completed by December 2024, and the plant is expected to be commissioned during Q1, 2025.

26 September 2024: Ignite Power, a leading distributed renewable energy (DRE) provider in Sub-Saharan Africa, has signed a Term Sheet with SEFE, an international energy company, for a carbon off-take transaction targeting carbon markets under Article 6. The facility is a key milestone in Ignite’s journey to connect 100 million people to clean, sustainable energy by 2030. This innovative transaction, which represents a significant advancement in climate finance and energy access, will drive the company’s expansion across both West and East Africa, where it is deploying off-grid solar systems to underserved and unserved communities.

This funding allows the company to improve end client affordability, and scale more rapidly across multiple countries. By receiving payments in hard currency, Ignite Power also mitigates the financial risks associated with currency depreciation in local African markets, ensuring a stable revenue stream as operations expand.

SEFE, a leading player in carbon market solutions, has extensive experience in structuring innovative financial mechanisms that unlock capital for climate impact. The transaction is part of a larger strategy to create scalable, replicable carbon finance models that drive both environmental and social benefits. Through this agreement, SEFE will facilitate the generation, verification, and trading of emission reductions tied to the deployment of Ignite Power’s solar systems. This not only provides capital to Ignite but also positions the company to generate additional revenue through the sale of emission reductions on global markets.

The carbon market in Africa has tremendous growth potential. While the global voluntary carbon market is currently valued at over $2 billion and projected to reach $50 billion by 2030, Africa remains a largely untapped frontier for carbon finance. According to recent reports, Africa accounts for less than 5% of the world’s carbon credits, despite its vast potential for carbon sequestration and renewable energy projects. Transactions like this one have the potential to show the pathway to unlock billions in carbon financing, not only for the African continent, which could be reinvested into sustainable infrastructure projects that drive long-term economic growth and social prosperity while combating climate change.

Disruptive Potential in the Off-Grid Solar Sector

The off-grid solar sector in Africa has grown exponentially in recent years, driven by the urgent need to provide affordable and sustainable electricity to the 600 million people on the continent who still lack access to power. By 2030, the global off-grid solar market is expected to surpass $25 billion, with Africa representing the largest growth opportunity. As one of the market leaders, Ignite Power has already connected over 3 million people across nine countries. The new facility will enable Ignite to further accelerate its deployments, increasing energy access in both established markets and new regions across West and East Africa.

This first-of-its-kind off-take agreement is not only a financial milestone but also a disruptive force in the off-grid solar sector. The agreement demonstrates the power of carbon markets to attract large-scale private investment into decentralized energy solutions. While traditional energy financing models have often struggled to scale due to high up-front capital costs and complex infrastructure requirements, by integrating carbon credits into the financial model, Ignite is able to mobilize new sources of capital, reduce deployment costs, and pass on savings to end-users, making off-grid solar even more affordable for low-income households.

As part of the broader global effort to achieve universal energy access, the World Bank’s ASCENT program aims to connect 300 million people across Sub-Saharan Africa to electricity by 2030. Ignite Power’s plan to connect 100 million people aligns closely with this vision, contributing to the collective goal of large-scale electrification. The ASCENT program, backed by significant international funding, emphasizes the need for innovative financing mechanisms like this carbon transaction to make universal energy access a reality.

Technology Driving Impact

Central to Ignite Power’s success is its advanced Monitoring, Reporting, and Verification (MRV) digital platform, which allows for seamless real-time data collection and reliable verification of the carbon savings generated. This technology ensures full transparency, traceability and accountability, a set of key requirements for generating high-quality carbon credits. The platform’s ability to track carbon savings in real-time, even in areas with limited or no connectivity, gives Ignite a significant competitive advantage. By leveraging this data-driven approach, the company is able to ensure compliance with international carbon standards and optimize the value of carbon credits sold on the market.

Yariv Cohen, CEO of Ignite Power, highlighted the far-reaching potential of this collaboration: “Africa presents a unique opportunity to build the next generation of utility infrastructure—one that is 100% clean, renewable, and sustainable. If we fail to establish the sector in this way, the alternative is adding extremely polluting projects at a high cost. On the other hand, off-grid solar solutions have proven to be the most impactful, affordable, and scalable option for large-scale electrification efforts and have a critical role in providing hundreds of millions with electricity. This $24 million off-take agreement with prepayment, made possible through our partnership with SEFE, is just the first step, as the combination of advanced financial structures, carbon markets, and cutting-edge technology is a game changer for Africa’s energy future. The road to connecting 100 million people is challenging, but with the right partners and financial tools, we’re confident in our ability to achieve this ambitious goal and redefine what’s possible in the off-grid solar sector.”

Frederic Barnaud, Chief Commercial Officer at SEFE highlights: “At SEFE, we are deeply committed to supporting only the highest quality projects with the utmost integrity, and our partnership with Ignite Power perfectly embodies this commitment. Beyond the substantial CO2 emission reductions this project will achieve, we are particularly proud of the profound impact it will have on the lives of countless African families, providing them with clean and affordable energy instead of relying on harmful kerosene for lighting. This initiative holds tremendous developmental potential, and we are optimistic that it will bring lasting, positive change to these communities.”

26 September 2024: Technology group Wärtsilä has signed a renewal of its Operations & Maintenance (O&M) agreement covering the 105 MW power plant owned by Independent Power Producer Ndola Energy Company Ltd (NECL) in Zambia. The previous agreement had been in force since 2013. By ensuring the reliability and availability of the plant, NECL can meet its Power Purchase Agreement obligations with Zambia's utility, ZESCO. The order was booked by Wärtsilä in Q2, 2024.

"We have worked closely with Wärtsilä for a number of years, and we are confident that they will continue to successfully operate and maintain the plant to ensure reliable supply of electricity," says Dr. Brian Mushimba, CEO at NECL.

The plant operates with six Wärtsilä 32 engines and six Wärtsilä 32 twin turbochargers. Hydropower is the main source of electricity in Zambia. However, the country is facing an electricity shortage due to a devastating drought that has impacted hydropower generation. The NECL plant is, therefore, an important contributor to maintaining a reliable electricity supply.

"We value long-term partnerships and collaboration with our customers. This agreement renewal is a good example of our commitment to support our customers throughout the lifecycle of their installation and ensure continued productivity and profitability of their operations. Our long-term presence also allows us to support the local economy and community in countries such as Zambia," comments Marc Thiriet, Energy Business Director, Africa at Wärtsilä Energy.

O&M Agreements are an important element of Wärtsilä's lifecycle support strategy. They represent a partnership with the customer, with shared power plant performance goals. An O&M Agreement is an efficient lifecycle solution that covers every aspect of a power plant's day-to-day operation and all related maintenance for the generating sets and administration tasks. Each agreement aims to maximise the productive lifetime of the installation and deliver a valuable return on investment. The solution is tailored to the customer's specific needs.

28 August 2024: Trinasolar, a global leader in smart PV and energy storage solutions, further solidified its commitment to South Africa's renewable energy future with an insightful customer event in Cape Town on August 26th. This event not only emphasized Trinasolar's ongoing expansion in the region but also highlighted its transformative impact on the country's energy landscape.

The event featured a keynote address by Kadri Nassiep, the City of Cape Town's Energy Executive Director, who provided an insightful overview of the city's energy strategies. Mr. Nassiep's address tackled the critical challenges of power outages and outlined innovative solutions that align with Trinasolar's mission to deliver reliable, sustainable energy to communities across South Africa.

Zaheer Khan, Regional Director for South Africa at Trinasolar, spoke to the company's significant milestones in the region, reflecting on Trinasolar's growing leadership in the renewable energy sector. "Our journey in South Africa is one of partnership and progress. Trinasolar's advanced technologies and strategic collaborations are not only addressing the immediate energy needs but also laying the foundation for a sustainable energy ecosystem in the country," Khan stated. He further emphasized Trinasolar's role as a catalyst for positive change, driving both economic growth and environmental stewardship in South Africa.

Peter Pan, Trinasolar's Storage Sales Manager, presented the company's cutting-edge energy storage solutions, which have been instrumental in ensuring energy resilience across different regions. His presentation highlighted Trinasolar's ability to offer full-process solutions that adapt to the diverse and dynamic needs of South African customers, further reinforcing the company's pivotal role in the country's energy transition.

In a surprise highlight, legendary South African cricketer Dale Steyn shared his journey of overcoming challenges, drawing parallels between his career and the resilience required in the energy sector. Trinasolar also announced the establishment of the Trinasolar SA Padel Club, an initiative designed to strengthen business relationships with key partners in South Africa's renewable energy industry. The club will serve as a platform for collaboration and networking among industry leaders, fostering a community dedicated to the shared goal of sustainable energy advancement.

The evening concluded with a gala dinner and a captivating performance, leaving guests with a renewed sense of purpose and a commitment to driving forward South Africa's renewable energy agenda, with Trinasolar at the helm.

Since its founding in 1997, Trinasolar has emerged as a world-leading photovoltaics technology provider. With a robust presence in South Africa, the company continues to innovate and expand, playing a crucial role in the country's transition to a sustainable energy future.

28 August 2024: Ener-G-Africa (EGA) has significantly expanded its operations by relocating to a new, larger manufacturing hub in Paarl, Western Cape. This state-of-the-art facility now includes a cutting-edge solar assembly line capable of producing TÜV Certified 550W and 275W solar panels, alongside the existing 20W, 50W, and 360W panels. These products are designed to serve both the South African market and export needs across Africa.

The 550W and 275W panels will be available for purchase starting in October 2024.

EGA continues to lead in the development of innovative solar energy solutions, offering a comprehensive range of off-grid residential products in the region. These solutions are tailored for both local and export markets, including countries such as Malawi, Mozambique, Angola, Ghana, Zimbabwe, Zambia, Kenya, Tanzania, Uganda, Rwanda, Namibia, and Botswana.

Andre Moolman, CEO of EGA, highlights the company’s commitment to advancing solar technology in Africa. “Our investment in state-of-the-art German technology allows us to produce highly advanced and reliable solar panels specifically designed for the African environment. We are equally dedicated to training, upskilling, and employing women and young people from local communities in our solar assembly and manufacturing processes. By integrating automation in key areas, we ensure superior quality control and cost efficiency. This approach not only empowers individuals but also ensures that high-grade solar products are more affordable and accessible across Africa,” says Moolman.

Dave Lello, Chief Business Development Officer at EGA, emphasised the strategic importance of their new panel offerings. “With our modules being manufactured locally, it means we have been able to adapt our design, specifically for the requirements of the African market, particularly the 275W panels,” says Lello.

“No other manufacturer currently makes 275W panels configured quite like this. They have been designed with flexibility in mind while maintaining the voltage output of larger panels in order to integrate with most standard industry inverters,” says Lello. “They are specifically tailored to offer higher capacity in a smaller area,” says Lello. “For example, on an unusually shaped roof, you can fit more panels, which means more power.” The flexibility allows one to more easily match the needs of the inverter while also maximising the benefit.

Lello also notes the practicality of the 275W panels for residential use. “One panel can replace a 2x150W configuration at a lower cost whilst requiring less space. Likewise, 2x275W panels will generate better performance than three of the 150W panels currently on the market, reducing the number of panels needed,” Lello explains.

EGA’s innovation extends to integrating different panel types within the same system. “The flexibility of our 550W and 275W panels allows for combined use within the same string, optimizing performance for various configurations, including east-west orientations, which are beneficial for maximizing energy use throughout the day,” Lello explains.

Other applications that can be powered by solar include water pumps, lighting and remote security solutions, such as community cameras, electric fences, and access control automation.

Built in South Africa for the local and African market

All EGA panels will be manufactured in South Africa under internationally recognised certification (by TUV NORD ) and according to ISO and IEC Standards.

EGA solar panels are sold with a 12-year limited product warranty and a 25-year limited performance warranty. The company’s local production not only reduces lead times but also ensures that customers and installation partners across Africa receive reliable support services.

“Our mission is to deliver the latest in renewable energy technology at an affordable price, ensuring that even households with limited access to grid services can benefit from clean, sustainable energy,” Moolman concludes.

27 August 2024: Hotspot Network Limited, a leading last-mile connectivity and telecom tower operator in Nigeria, and Solarkiosk Solutions GmbH, a Pan-African leader in off-grid solar energy access, entered into a ground-breaking Joint Venture to implement first-of-its-class energy and connectivity solutions in rural Nigerian communities.

The Hotspot-Solarkiosk Joint Venture is established both as an Energy Service Company (ESCO) and an Engineering, Procurement, and Construction (EPC) contractor, dedicated to delivering state-of-the-art technology solutions and services for connectivity and solar energy in Nigeria. The Joint Venture´s mission is economic empowerment of rural off-grid communities with solar energy and connectivity.

The first focus will be on providing solar energy for Hotspot´s telecom tower network, thereby enhancing internet access and connectivity in remote Nigerian villages, as well as implementing Solarkiosk’s proprietary E-HUBB technology, which leverages solar power to distribute essential goods and services to underserved communities.

The Joint Venture will use unparalleled proprietary remote monitoring and remote control, and state of the art IT technology to ensure seamless operations and enhanced service delivery. Furthermore, Solarkiosk´s E-HUBBs will serve as a platform for introducing telecommunication and solar products and services to rural markets.

The JV also offers innovative energy solutions to private sector and government clients in Nigeria, addressing the increasing demand for renewable energy amidst rising energy prices.

Thomas Rieger, CEO of Solarkiosk Solutions GmbH: “We are incredibly excited about this Joint Venture with our esteemed partners and friends at Hotspot, as it brings together two perfectly mission-aligned and outstanding companies with a long and proven track-record. The synergy we create through this collaboration is extraordinary. By combining connectivity and essential services, we are poised to transform rural Nigeria, driving true economic empowerment in off-grid communities.”

Morenikeji Aniye, CEO of Hotspot Network Limited: “This Joint Venture brings to fruition years of developing and iterating different models for building sustainable rural ecosystems, infused with Information and Communications Technology as well as Energy access in a sustainable manner. Income enhancement, significant Gender participation, 21st century knowledge and skills required to function in today’s ecosystem is primarily driven by Energy and internet access. This milestone marks a conscious effort to improve the socio-economic indices of rural Nigeria.

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About Hotspot Network Limited: Hotspot Network Limited is a telecommunications service provider in Nigeria, dedicated to delivering innovative and reliable connectivity solutions. Founded in 2008, the company has built and operated a raft of connectivity infrastructure solutions across Nigeria. Hotspot’s current focus includes building and operating small cells in across Rural Nigeria as part of our commitment to enhancing digital access and bridging the connectivity gap.

About Solarkiosk Solutions GmbH: Solarkiosk Solutions GmbH is a pioneer and leading expert in off-grid energy access, with more than 300 productive-use projects across Africa and Asia. The success of the company stems from their innovative technologies, such as the award-winning EHUBB—a multi-functional solar-powered “business-in-a-box.” The E-HUBB provides energy and connectivity for telecom towers, mini-clinics, schools, water purification, internet cafés, and local entrepreneurs, acting as a B2B mini-grid. With more than a decade of expertise, Solarkiosk delivers solar-powered solutions that meet the needs of remote rural communities, driving sustainable development and economic growth.

• d.light is the first off-grid solar provider to introduce a customer loyalty program, rewarding loyal customers with benefits including free energy and discounts on future purchases

20 August 2024: d.light, the global provider of transformational household products and affordable finance for low-income households, has launched its new customer loyalty program – the first of its kind in the off-grid solar space.

d.light officially launched the loyalty scheme, called “d.light Points Program”, in Kenya on 7 August, with plans to extend it to customers in Uganda, Tanzania and Nigeria later this year. d.light’s aim is that more than 500,000 customers will benefit from the program before the end of 2024.

The d.light Points Program rewards customers who make regular and frequent payments towards their PayGo products with points that can be redeemed for discounts on future purchases and other rewards such as tokens for free days of power. d.light will add more rewards as it rolls out the program to its other markets in Africa.

d.light launched the program following 12 months of in-depth customer research involving focus groups, surveys, and one-to-one interviews. Information on points and rewards are available to customers at all times via SMS or USSD messaging or on the d.light mobile app. Customers can redeem the points they earn over the phone or using the app.

Commenting on the launch of the program, Donal Connolly, Director of Credit at d.light, said, “Our customers have had a tough time lately. Months of high inflation in many of the countries we operate in, along with job and income uncertainty in climate-impacted rural areas, have put pressure on households and communities. This includes being able to access and pay for their energy at home.”

Connolly continued, “Our customers come first here at d.light, and we want to help them deal with these pressures and acknowledge their loyalty and support as well. We’ve devised the d.light Points Program for our customers to easily earn points and then redeem them for tailor-made rewards that add value and save them money. For example, customers who make payments across a number of consecutive days earn points which they can redeem for credit towards future purchases or free days of power.

“With this new loyalty program, we are providing d.light customers with the tangible, practical benefits that they themselves have asked for and which help them to more easily access reliable solar energy that improves their day-to-day lives.”

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About d.light: Founded in 2007 at Stanford in California, d.light is a global leader in making transformative products available and affordable to low-income families. d.light has sold nearly 30 million products, including solar lanterns, solar home systems, TVs, radios, and smartphones, impacting the lives of over 150 million people. Our vision is to transform the lives of one billion people with sustainable products by 2030. For more information, visit: www.dlight.com.

19 August 2024: Technology group Wärtsilä's renewal of its existing Operations and Maintenance (O&M) agreement with QIT Madagascar Minerals S.A (QMM), part of the Rio Tinto group, has been expanded to include a Decarbonisation Agreement.

The Agreement is a groundbreaking offering in the energy sector, and allows for optimising all of the assets in the microgrid, including renewable energy usage, thereby not only reducing emissions but also producing notable cost savings.

The continued O&M agreement covers QMM's 24 MW engine power plant located at the company's ilmenite mineral sands mine at Fort Dauphin in south-eastern Madagascar. The order was booked by Wärtsilä in June 2024.

The key elements of the agreement include optimised dispatch of the plant's six Wärtsilä 32 engines and QMM's battery energy storage and renewable assets with Wärtsilä's GEMS Digital Energy Platform. The GEMS software uses machine learning technology to optimise multiple energy generation assets and ensure maximum utilisation of renewable energy.

"The O&M Agreement with Wärtsilä has been in place since 2008 and we have been pleased with Wärtsilä's performance. The reliability and efficiency of the power plant are critical to our operations, and we are therefore excited to extend this agreement. The renewed agreement allows us take advantage of Wärtsilä's competence in power system optimisation and use renewables in the most efficient way, supporting Rio Tinto's decarbonisation objectives and sustainable mining vision," says Jean-Francois Richer, Director Integrated Operational Services at QMM.

The hybrid power plant supplies the electricity required to operate the mine and also to the nearby town of Fort Dauphin.

"Our Decarbonisation Agreement is taking energy optimisation to a new level by enabling cost savings, a reduced environmental footprint, and higher efficiency. What is more, the partnership is outcome-based with mutual incentives. This is the way forward in making decarbonised operations a viable reality," says Christoffer Ek, Director of Decarbonisation Services at Wärtsilä Energy.

"This agreement strengthens our long-lasting partnership with QMM. We are delighted to continue to support their operations, both with our technology and our regional service network. By working in close cooperation with the customer, we are able to ensure a reliable and sustainable power supply to the mine," adds Kenneth Engblom, Vice President, Africa & Europe at Wärtsilä Energy.

12 August 2024: Open Access Energy (OAE), a South African software company focused on optimizing energy transactions, has secured a $750,000 investment from Factor E Ventures. The funding marks the initial tranche of a $1.5m seed round for the company, which is developing software solutions to address South Africa’s chronic energy challenges.

South Africa’s reliance on coal-fired power generation has resulted in a grid plagued by instability and high costs, limiting access to cleaner, renewable sources. OAE’s technology offers a solution by connecting electricity generated from distributed renewable sources with unmet demand. This approach can enhance grid reliability, reduce emissions, and create new revenue streams for independent power producers (IPPs).

Founded in 2021, Open Access Energy has quickly become a major player in energy management software. The company’s Amptera and Energypro platforms facilitate real-time energy transactions and enhance energy management for IPPs and municipalities. With this initial funding, OAE aims to expand its technological capabilities, refine its software platforms, and increase its market presence in South Africa and beyond. The investment is expected to enable the company to scale operations, develop new features, and strengthen its position in the energy sector.

“Factor E Ventures’ investment arrives at a crucial juncture for both our company and South Africa’s energy sector,” said Gerjo Hoffman, CEO of Open Access Energy. “As we strive to decentralize energy and ensure universal access to clean power for all South Africans, this support will accelerate our innovation capabilities and market reach.”

“Open Access Energy is addressing significant inefficiencies in South Africa’s energy sector with its innovative software,” said Tenbite Ermias, Partner at Factor E Ventures. “We are excited to lead this initial investment in their $1.5 million seed round. OAE is well-positioned to tackle the country’s energy challenges and drive its transition to renewable sources. Our support highlights our belief in their potential to make a substantial impact.”

South Africa, with one of the world’s largest domestic grids, is at the forefront of a significant energy transformation. The Southern African Development Community (SADC) region’s leadership in cross-border energy trading complements this shift, highlighting the substantial climate and social impact of decarbonizing South Africa’s power sector through distributed renewable energy. As the country rapidly transitions toward greater reliance on renewables and distributed generation, Open Access Energy’s technology is strategically positioned to support this evolution, offering crucial tools for market participants to effectively navigate and thrive in the changing energy landscape.

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About Open Access Energy: Open Access Energy, established in 2021, provides software solutions that facilitate private sector energy transactions, from generation to consumption. OAE serves private entities interested in energy wheeling, using existing grid infrastructure to transmit energy from generation sites to various consumption points. For more information, visit: www.openaccess.energy.

About Factor E Ventures: Factor E is an impact investment firm that identifies and invests in solutions to some of the world’s toughest climate and development problems. Working at the intersection of risk capital, technology, and emerging markets, Factor E accelerates the pace at which innovation impacts economies, communities, and the environment.

• Off-grid solar provider d.light and impact investor African Frontier Capital partner on new financing to support consumer loans for solar and high efficiency appliances in East Africa

17 July 2024: d.light, the global provider of transformational household products and affordable finance for low-income households, today announced the closing of a new securitization facility that will purchase USD$176 million of receivables in Kenya, Tanzania and Uganda. The new financing is being provided by social impact-focused asset management company African Frontier Capital.

d.light will use the facility to scale up its PayGo consumer finance offering to make solar-powered products available to more low-income households and communities without access to electricity. The facility is multi-currency and will enable access to reliable, renewable energy for an estimated six million people across the three countries over the next three years.

With this new facility, d.light has now closed securitized financing with a total combined purchasing value of USD$718 million across five separate facilities since 2020.

Commenting on the news, d.light CEO Nedjip Tozun said, “This new facility is another landmark step in d.light’s mission to provide people with affordable energy that is also clean, safe and sustainable. It lets us expand our reach so that millions of off-grid families across Kenya, Tanzania and Uganda can experience the benefits of solar energy.

“Facilities like this make possible our pioneering PayGo consumer financing model with which we are able to offer solar home systems and high efficiency appliances to the people that need them most in a way that is affordable and sustainable.”

Tozun continued, “With this new facility, d.light has for the first time in its history receivables-based financing facilities in each of our PayGo markets – Kenya, Uganda, Tanzania, and Nigeria. These facilities allow d.light to remain consistently cash flow positive and remove the requirement for further external equity fundraising to fund our growth.”

d.light has a proven track record in the use of securitized finance to support its solar-powered household products in sub-Saharan Africa. It has previously set up four facilities, beginning in 2020 and including two in Kenya and one each in Nigeria and Tanzania. The combined purchasing value of these existing facilities plus the new facility is USD$718 million.

Earlier this year, in February, d.light announced that its USD$110 million securitization facility, Brighter Life Kenya 1 Limited (BLK1) successfully repaid its entire senior debt in full and ahead of schedule from internally generated cash flows – the first facility in the off-grid solar sector to do so.

d.light has been working with distribution partners in Kenya, Uganda and Tanzania since 2010, and has had its own operations in Kenya since 2011, in Uganda since 2015 and in Tanzania since 2016.

Eric De Moudt, AFC’s founder and CEO, said, “This milestone is a testament to how data-driven financial innovation can play an important role in bringing financial inclusion to the world’s most vulnerable communities, helping them to gain access to clean and modern energy and the ensuing social and economic benefits that come about as a result. We are grateful to d.light for its ongoing leadership in the off-grid solar sector and proud to partner with such a visionary company.”

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About d.light: Founded in 2007 at Stanford in California, d.light is a global leader in making transformative products available and affordable to low-income families. d.light has sold nearly 30 million products, including solar lanterns, solar home systems, TVs, radios, and smartphones, impacting the lives of over 150 million people. Our vision is to transform the lives of one billion people with sustainable products by 2030. For more information, visit: www.dlight.com.

About AFC: African Frontier Capital (Mauritius) LLC and its subsidiary companies are a dedicated impact investment group focused on bringing financial inclusion to people living at the bottom of the pyramid in a socially and environmentally sustainable way. For more information, visit: www.africanfrontiercapital.com.

10 July 2024: Cultiver Group (www.cultivergroup.co.za), a Cape Town-based sustainability consultancy, today launched ENGAGE!, a community engagement platform that ensures authentic inclusivity and minimises social risk for large scale renewables, mining and other infrastructure projects. After one year of successful pilot implementations for global clean energy leader, Enel Green Power’s 147 MW Karusa and 147 MW Soetwater Wind Farms, the solution is now available for wider rollout to large-scale project developers and mines in South Africa and the rest of southern Africa.

“While mining, renewable energy, and infrastructure projects are vital for economic development and community upliftment, marginalised communities often remain excluded from the benefits of these projects and are vulnerable to potential negative impacts,” said Fezeka Stuurman, CEO of Cultiver Group.

“In turn, mismanaged or insufficient community engagement is a leading cause of project-related social unrest, project delays, development and construction delays and profit losses for project owners. ENGAGE! bridges the gap between large public and private projects and local communities, ensuring that projects advance in a manner that is truly inclusive, just, and socially responsible.”

The tech-supported ENGAGE! platform offers a toll-free number and trained community ambassadors through which community members can voice project-related concerns, challenges, or inquiries in any of the 11 official languages. In developing the platform, Cultiver Group drew from more than a decade of experience working on-the-ground with communities and providing innovative and impactful solutions to social challenges for clients, including Enel, Scatec, Implats and Conservation SA, among others.

The pilots show that the platform enhances project and community interactions significantly. It raises community awareness of project benefits, such as job creation and sustainable development, while also improving relationships between all project stakeholders, including communities, project owners, and local organisations like municipalities and nonprofits. This fosters improved engagement on all project-related matters, enhancing overall project execution and community satisfaction.

Additionally, by acting as both an advocacy and information-sharing tool, ENGAGE! reduces social risk and opens up opportunities for community members. It equips project owners with actionable insights that enhance social impact, enterprise development, and ESG initiatives. This holistic approach bolsters relationships with existing stakeholders and also attracts new partnerships, thereby strengthening the social fabric around large infrastructure projects.

“At the Laingsburg Thusong Centre we know the importance of serving the needs of rural communities, building connections and giving a voice to individuals who might be unheard, in order to promote the resilience and prosperity of the community. The ENGAGE! platform has provided the community with great support and indispensable resources, narrowing the gap and strengthening the relationship between communities and infrastructure project owners to help advance economic development efforts,” said Shirene Gouws, Senior Clerk, Thusong Centre, Laingsburg.

“ENGAGE! is an innovative tech-supported platform that really excites me. By enabling the real-time lodging of information and grievances, it can strengthen project owners’ relationships with communities and complement engagement strategies in natural resource-based businesses for better social performance,” said Dr. Holle Wlokas, Co-founder & Managing Director, Initiative for Social Performance in Renewable Energy (INSPIRE), NPC.

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About ENGAGE!: The ENGAGE! platform offers several innovative features designed to ensure comprehensive community support and effective communication between project developers and local communities. Available at no cost to host communities, the platform operates a toll-free number, accessible from Monday to Friday, 08:30 to 16:30, allowing community members to voice concerns, challenges, or inquiries. Community members can communicate in any of the 11 official languages, ensuring inclusivity and accessibility.

Adhering to ISO principles, ENGAGE! guarantees transparency, fairness, and integrity in all interactions. Additionally, the platform employs specially trained ambassadors who are embedded within the communities to act as liaisons, enhancing effectiveness. These ambassadors help to maintain a secure, unbiased, and inclusive communication channel. For project owners, ENGAGE! provides reliable, evidence-based insights through regular community engagement reports, which aid in proactive and informed decision-making. Furthermore, the platform ensures that urgent matters are immediately escalated through appropriate channels, helping to minimise risks and build trust within the community.

About Cultiver: Cultiver is a sustainability consulting and advisory house that works with private and public sector projects to create sustainable, equitable, innovative solutions to community-related challenges. With a focus on the inclusion of underserved communities, primarily in the Just Energy Transition, through stakeholder engagement, community and enterprise development, capacity building, research and advisory services, Cultiver clients include mines, independent power producers, nonprofits, and financial and academic institutions.

5 July 2024: Stichting Clean Energy and Energy Inclusion for Africa (CEI Africa) is illuminating the path towards a brighter future for underserved communities across Sub-Saharan Africa. Today, the organization announced its intention to award a total of USD 5.6 million in results-based financing (RBF) grants to three green mini-grid (GMG) developers: OnePower, KUDURA, and EP. These grants will unlock approximately 10,221 green mini-grid connections, bringing clean and reliable electricity to residents of the Democratic Republic of Congo (DRC), Benin, and northern Kenya.

Powering Diverse Communities with Green Mini-Grids

Expanding Benin’s Energy Landscape: OnePower (1PWR), a leader in solar minigrid development, received an RBF grant of up to USD 672,000 to establish 1,120 connections in Kotokpa and Aglamidjodji, Benin. Building on the success of their initial projects, OnePower plans to construct a large-scale portfolio of 68 minigrids across Benin. Beyond household electrification, these projects aim to enhance critical services at educational and healthcare facilities, while boosting the productivity of women-owned businesses.

Championing Electrification for All in Turkana County: KUDURA Power East Africa Ltd (KUDURA) secured an RBF grant of up to USD 2.8 million to illuminate the lives of 5,600 residents in Turkana County, Kenya. This expansion builds upon KUDURA’s successful presence of 11 GMG sites serving over 4,000 customers in Busia County. In Turkana, KUDURA is constructing another 21 mini-grids, co-funded by RVE.SOL S.A. (Portugal) and InfraCo Africa (UK). According to KUDURA Founder Vivian Vendeirinho, the developer seeks to “accelerate progress towards meeting the Turkana County Government’s rural electrification goals,” while also extending a critical lifeline – reliable, affordable electricity – to the Kakuma Refugee Camp.

Empowering a Remote Town in the DRC: EP, a pioneering decentralized energy infrastructure company, received an RBF grant of up to USD 2.1 million to unlock 3,501 connections in Bulungu, DRC. This project will install a 400 kWp solar PV and 1,000 kWh battery system, aiming to unlock the potential of Bulungu, a remote town of 140,000 inhabitants heavily reliant on farming and fishing for livelihoods. Currently lacking reliable energy sources, EP’s project promises to provide uninterrupted power to homes, the town’s sole hospital, a large water pump, and small milling activities. Dario Fallara, CEO of EP Assetco DRC, emphasized their enthusiasm to “meet the massive demand for reliable and affordable energy in Bulungu.”

CEI Africa has allocated EUR 21 million to support project developers financing GMGs through RBF, along with technical assistance. This latest round of RBF funding expands CEI Africa’s support to include Mali, DRC, and Benin. With additional funding anticipated in 2024, further expansion is planned for Sierra Leone, Madagascar, and other countries.

The three RBF grant awards are pursuant to fulfillment of certain conditions precedent agreed to between CEI Africa, OnePower, KUDURA and EP, respectively. The RBF grant funding will be disbursed upon completion of new electricity connections.

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About CEI Africa: CEI Africa was established by the German development finance institution KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) in 2021 to improve access to energy for rural and peri-urban households and enterprises in sub-Saharan Africa. CEI Africa is managed by Triple Jump B.V., Persistent, and GreenMax Capital Group. It is a one-stop shop for mini-grid developers and other off-grid energy companies, offering a variety of financing instruments. The implementation of the Foundation’s Crowdlending window, which provides debt and investment products in collaboration with European Crowdlenders, is led by Persistent. CEI Africa has allocated EUR 28M to support off-grid energy companies and mini-grid project developers through co-financing with Crowdlenders, including the provision of Technical Assistance. GreenMax manages the Results-based and impact-based financing window, offering results-based financing grants and forgivable loans.

About OnePower: OnePower (1PWR) is a leader in solar minigrid development, bringing clean and affordable electricity to underserved communities. They boast a well-established presence in Lesotho and a growing portfolio in Benin. OnePower’s expansion plans aim to electrify 68 communities, impacting over 100,000 people.

About KUDURA Power East Africa Ltd: KUDURA Power East Africa Ltd (KUDURA) is a social-for-profit minigrid developer operating in rural East Africa. Their mission extends beyond simply providing electricity. KUDURA offers a multi-utility service model, transforming economies and lifestyles through access to clean, reliable energy. With operations in Busia and Turkana counties, KUDURA is on track to serve over 30,000 metered consumers by 2026.

About EP Assetco DRC: EP Assetco DRC, a joint venture between Equatorial Power, a next-generation developer and operator of decentralized renewable energy (DRE) infrastructure, and Infraco Africa, a developer of infrastructure projects in Sub-Saharan Africa, is committed to co-developing, building, and operating isolated hybrid solar systems across the DRC. Their innovative business model focuses on the productive use of electricity to empower communities.

4 July 2024: Odyssey Energy Solutions, an end-to-end platform for financing, procuring solar equipment, and operating distributed solar assets, announces a new credit offering, Construction Credit, designed for solar companies.

Construction Credit addresses a significant challenge faced by EPCs and developers: the need for upfront capital to procure equipment and execute projects. Construction Credit provides solar companies with off-balance sheet working capital that aligns with their project payment milestones, giving EPCs and developers the working capital they need to procure equipment and deliver projects, with the flexibility to make repayments once the project is commissioned.

Maxime Eon, Odyssey’s Vice President of Revenue explains, “having spent a decade of my career as a developer, I know the frustration of trying to line-up the right capital to cover equipment costs, months – or years – before the end-client pays. Construction Credit aims to fill the gap, making it possible for solar companies to take on more projects.”

To begin, solar companies can access credit of up to $5M per project, with a 15-50% downpayment. Interest rates are determined on a project-by-project basis. Once a solar company has been onboarded to the Construction Credit platform, they can access on-demand credit for additional projects.

This credit solution was presented as part of the World Economic Forum’s South Africa Energy Transition working group, a unique public-private collection of 50+ energy and finance experts who collaborated to identify barriers to clean energy investments and surface policy, and non-policy solutions to increase the flow of clean energy capital for South Africa. You can learn more about Construction Credit here.

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About Odyssey Energy Solutions: Odyssey Energy Solutions is a climate tech company transforming distributed energy globally with the goal of bringing low-carbon power to the 3.5 billion people worldwide whose electricity needs are unserved or underserved. Odyssey offers an end-to-end solution to finance, procure equipment for, and operate distributed energy projects at scale across the globe. The company is facilitating more than $1.6B of finance into the sector, delivering tools and services to over 2,600 developers and is backed by leading investors. For more information, visit: odysseyenergysolutions.com.

1 July 2024: Trinasolar, a global leader in smart PV and energy storage solutions, participated in the Africa Energy Forum held in Barcelona, Spain, from June 25-28, 2024. This premier event brought together industry leaders, policymakers, and innovators to discuss the future of energy in Africa. Trinasolar's sponsorship underscores its commitment to supporting sustainable energy development across the continent.

Zaheer Khan, Trinasolar's Regional Director for South Africa, was a distinguished speaker at the exclusive Corporate Leadership Roundtable titled "Energy Systems of the Future – Balancing Africa's Needs with Global Goals." This pivotal discussion, attended by over 40 industry experts, addressed critical topics such as increasing the scale and pace of projects and investment in Africa, the role of decarbonization policies in enhancing private sector participation in energy-intensive industries, and the impact of global climate goals on Africa's investment capabilities for its future.

Trinasolar's comprehensive solar solutions are designed to meet these challenges head-on. The company's portfolio includes industry-leading Vertex N modules with advanced n-type i-TOPCon technology and 210mm product technology platform, the state-of-the-art TrinaTracker system, and cutting-edge energy storage solutions. These innovations ensure optimal performance and adaptability to varying project requirements, providing reliable, cost-effective, and scalable solar solutions. Trinasolar aims to significantly advance the solar energy sector in Africa, facilitating the continent's transition to renewable energy and supporting sustainable economic growth.

Zaheer Khan commented: "Trinasolar is thrilled to participate in this influential forum and contribute to the dialogue on Africa's energy future. South Africa is a key market for Trinasolar, and the company is dedicated to advancing solar energy solutions that not only meet the growing energy demands but also align with global sustainability goals. Trinasolar's latest innovations in solar technology are designed to increase efficiency, reduce costs, and support the continent's transition to renewable energy."

With abundant solar resources and a strong need for sustainable energy solutions, South Africa is poised to be a leader in solar energy deployment. Trinasolar's advanced photovoltaic (PV) technologies and comprehensive energy solutions are tailored to meet the unique energy challenges and opportunities in South Africa. Trinasolar's participation at the Africa Energy Forum will provide a platform to showcase the company's latest products, foster partnerships, and engage with stakeholders to drive the renewable energy agenda forward.

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About Trinasolar: Founded in 1997, Trinasolar Co Ltd (stock symbol: Trinasolar; stock code: 688599) is engaged mainly in PV products, PV systems and smart energy. PV products include R&D, production and sales of PV modules. PV systems consist of power stations and system products. Smart energy comprises mainly PV power generation and operations and maintenance, smart solutions for energy storage, smart microgrid, and development and sales of multi-energy systems. We are committed to leading the way in smart PV and energy storage solutions and facilitating the transformation of new power systems for a net-zero future.

On June 10, 2020, Trinasolar was listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange (SSE). It was the first PV and energy storage company to go public on the STAR Market providing PV products and systems, as well as smart energy. For more information, visit: www.trinasolar.com.

26 June 2024: ENGIE Energy Access, Africa’s leading Pay-As-You-Go (PAYGO) and mini-grid solutions provider, has officially commenced the construction of 15 solar mini-grids in Zambia’s Eastern Province. This initiative is a crucial part of the transformative Increase Access to Electricity and Renewable Energy Production (IAEREP) programme, funded by the 11th European Development Fund and the European Union.

By expanding the adoption of off-grid energy solutions in Zambia, ENGIE Energy Access will provide reliable electricity to underserved families and small businesses, creating economic growth and increasing socio-economic welfare in local communities.

MySol Grid Zambia, a unit of ENGIE Energy Access, is responsible for constructing, owning, operating, and maintaining these mini-grids. This ensures that residential, commercial, and productive-use customers have access to dependable and renewable power along with value-adding services.

“We are excited to announce this significant milestone, which brings ENGIE Energy Access closer to achieving its goal of operating 60 mini-grids across five provinces in Zambia. This project supports several United Nations Sustainable Development Goals, particularly SDG 7, by delivering affordable, reliable, and sustainable clean energy to 40,000 people living in rural areas. Our work is an important element of the national electrification plans, and we are committed to collaborating with the authorities to expand energy access and promote sustainable development in Zambia,” said Gillian-Alexandre Huart, CEO of ENGIE Energy Access.

The first sites in this groundbreaking project include: Lusinde, Kandongwa, Nyimba Mwana, Chidiwa, Chataika, Kanyanga, Petulo, Kasamba, Chidiwa, Mphole, Mung’omba, Kalambana, Mtore, Kondwelani, Lunga, and Luamphande and are scheduled to be operational by the end of 2024.

In 2023, MySol Grid Zambia signed a USD 7.5 million debt facility with Facility for Energy Inclusion (FEI), managed by Cygnum Capital. This funding will provide the company with the necessary resources and flexibility to construct a total of 60 mini-grids under the IAEREP programme. This is a significant step for the mini-grid sector, with these assets having attracted non-recourse long-term financing.

ENGIE Energy Access established its presence in Zambia in 2017. It currently has over 250 employees, 650 independent sales agents, and more than 60 points of presence across the country. The company has sold over 300,000 shs kits and has 1 mini-grid operational in Chitandika.

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About ENGIE Energy Access: ENGIE Energy Access is the leading Pay-As-You-Go (PAYGO) and mini-grids solutions provider in Africa. The company develops innovative, off-grid solar solutions for homes, public services and businesses, enabling customers and distribution partners access to clean, affordable energy. The PAYGO solar home systems are financed through affordable instalments and the mini-grids foster economic development by enabling electrical productive use and triggering business opportunities for entrepreneurs in rural communities. With over 1,800 employees, operations in nine countries across Africa (Benin, Côte d’Ivoire, Kenya, Mozambique, Nigeria, Rwanda, Tanzania, Uganda and Zambia), 2.5 million customers and more than 12.5 million lives impacted so far, ENGIE Energy Access aims to impact 20 million lives across Africa by 2025. For more information, visit: engie-energyaccess.com.