29 January 2025: Ignite Power, an Abu Dhabi-based leader in distributed renewable energy (DRE) solutions today announced the signing of a Share Purchase Agreement to acquire 100% of ENGIE Energy Access, one of Africa’s most recognized and impactful energy providers. This transaction will create Africa’s largest provider of the full range of distributed renewable energy (DRE) solutions. The combined entity will be launched as “Ignite Energy Access,” expanding operations to 14 African nations and providing sustainable energy solutions to more than 15 million people.

“By integrating EEA’s strengths with our own proven model, we will be creating a full-spectrum energy access company that can scale to meet the continent’s immense energy needs” — Yariv Cohen, CEO of Ignite Power.

While the agreement has been signed, the transaction is subject to regulatory and antitrust approvals, which are expected to be completed within the coming months.

ENGIE Energy Access’s broad footprint, strong customer base, and market-leading operational capabilities make it an invaluable addition to Ignite. With a shared mission of transforming lives through sustainable energy, this transaction represents a transformative opportunity to accelerate electrification across Africa.

With the purchase from ENGIE, the French energy utility company, Ignite would more than double its footprint across Africa. This would be Ignite’s fourth transaction in the past 24 months, solidifying its position as the leading consolidator in the energy access sector. By combining EEA’s robust on-ground experience with Ignite’s scalable business model, the newly formed Ignite Energy Access is positioned to set new standards for sustainable energy delivery.

With a dramatic drop in the cost of solar panels and batteries along with the increasing adoption of mobile payment systems, Ignite provides an easy-to-install, affordable, sustainable, and reliable source of power for homes, businesses, farmers, schools, and other institutions. With over 600 million African people lacking access to electricity and billions more reliant on unstable and unsustainable grids, Africa offers a tremendous opportunity for accelerated growth.

This transaction would reinforce Ignite Power’s leadership in Africa’s DRE sector, unlocking unprecedented opportunities to transform lives and communities. By leveraging its scalability and proven operational excellence, Ignite is poised to accelerate access to clean, reliable, and affordable energy for 100 million people by 2030.

Yariv Cohen, CEO of Ignite Power, stated: “Acquiring ENGIE Energy Access would mark a transformative milestone for our company and Africa’s energy sector. ENGIE Energy Access has built an exceptional legacy of innovation, operational excellence, and commitment to sustainable impact. By integrating their strengths with our own proven model, we will be creating a full-spectrum energy access company that can scale to meet the continent’s immense energy needs. Together, we will not only connect millions of people to clean and reliable energy but also drive economic growth, create jobs, and empower communities across Africa. This transaction accelerates our journey to achieving our vision of providing sustainable, affordable energy solutions to 100 million people by 2030.”

Strengthening Market Position:

This transaction would significantly increase Ignite Power’s total addressable market to more than 250 million people, supported by economies of scale, enhanced digital operations, and a proven business model. Ignite’s advanced digital capabilities and operational excellence ensure reliable and efficient energy delivery, offering unmatched affordability and reliability. With proprietary platforms for mobile payments, fleet management, and data analytics, Ignite is driving unmatched efficiency and portfolio performance across all markets.

The transaction would also confirm Ignite’s recent success in securing $15 million from Afrigreen to support its growing Commercial & Industrial (C&I) solar projects, demonstrating strong investor confidence and financial stability. With over 50 megawatts of deployed capacity, a rapidly growing footprint, and a full spectrum of distributed solar solutions, the unleveraged combined entity will be well-positioned to meet the diverse and growing energy needs of African markets, including both underserved rural areas and emerging urban markets. This dual approach will ensure the company maximizes its growth potential while delivering impactful solutions at scale. With plans to connect millions more households annually, Ignite is set to connect 100 million people by 2030, solidifying its role as a central player in Africa’s energy transformation.

28 January 2025: During the Mission 300 Africa Energy Summit, the Global Energy Alliance for People and Planet (GEAPP) and The Rockefeller Foundation introduced nearly two dozen new energy access projects in 11 African countries and across the Common Market for Eastern and Southern Africa (COMESA), the largest regional economic organization in Africa. The projects are funded through an initial US$10 million commitment by the two organizations to the Mission 300 Technical Assistance Facility (TA Facility), which was launched in September 2024 to provide more flexible, short- and medium-term technical assistance (TA). This collaboration is in support of the World Bank Group and African Development Bank’s (AfDB) ambitious initiative to provide improved electricity access to 300 million Africans by 2030.

“The Rockefeller Foundation created the Mission 300 Accelerator to demonstrate how philanthropy can break through bureaucratic obstacles to jumpstart World Bank and African Development Bank energy projects. In just a few short months, we have worked with the Global Energy Alliance for People and Planet, Sustainable Energy for All and the banks to advance two dozen projects, putting us on track to bring reliable electricity to 300 million people across Africa at unprecedented speed,” said Andrew Herscowitz, CEO of the Mission 300 Accelerator.

“We are delighted to have made significant strides on a series of impactful projects that GEAPP and The Rockefeller Foundation are developing with strategic partners across Africa. The design and preparation of these initiatives is advancing an Africa-led mission that unlocks power where it is needed most. By improving local skills, capacity, and implementation efforts, GEAPP supports African governments, institutional partners, and businesses with new financial tools and bankable projects that boost cooperation and innovation and fuel sustainable growth for communities across the continent,” said Woochong Um, CEO at GEAPP, which has more than 50% of its current portfolio by value invested in Africa. In addition to GEAPP’s support for the Accelerator’s new investments, the Alliance, which has 63 projects in more than 20 African countries, is already working intensively with the AfDB and World Bank to design and accelerate electrification efforts in several African markets.

Currently, Africa has an average electrification rate of 50% and is home to approximately 600 million people without access to reliable electricity. Co-housed within GEAPP and RF Catalytic Capital (RFCC), The Rockefeller Foundation’s public charity launched in 2020 to pool and align resources, the Accelerator is designed to swiftly deploy philanthropic capital for TA across sub-Saharan Africa. In support of African governments’ and the two multilateral development banks’ efforts to accelerate the pace and efficiency of electricity access projects across the continent, the TA Facility’s first projects are expected to include:

• Burkina Faso: Providing support for public-private partnership models focused on rural electrification efforts where currently power access rates are one of the lowest in West Africa (AfDB). TA will also provide feasibility studies and design for the Global Electrification Management Platform (GEMP), which aims to implement an integrated digital solution, designed to serve as a centralized information and management system to streamline the planning, implementation, monitoring and evaluation of grid investments while monitoring private sector involvement and identifying non-electrified areas.
• Chad: Supporting a feasibility study for low and medium voltage electrical distribution under the Cameroon-Chad Interconnection Project (PIRECT), an AfDB-led effort that aims to connect the Southern and Northern power systems of Cameroon. Assistance will enable electricity trade between the two countries and increase access to electricity in N’Djamena, Chad’s capital city, through the construction of three different new transmission lines in the area. TA will also improve performance of the local utility, SNE, through a series of recommended actions to address the utilities inefficiencies and constraints by a senior energy consultant. As a result of this support, roughly 256,000 people will have new access to electricity by 2030, where currently there is an average electrification rate of around 7% (AfDB).
• COMESA: Providing a combination of financial, technical, legal, environmental and carbon finance advisory services to support the Trade and Development Bank (TDB) and its subsidiaries under the World Bank’s Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) program Regional Energy Access Financing Platform (REAF) to accelerate access to sustainable and clean electricity targeting 5 million people. The assistance is focused on enhancing the capacity of TDB and its borrowers to manage complex Distributed Renewable Energy (DRE) transactions by providing comprehensive due diligence, transaction structuring, and strategic advisory services for renewable energy projects and clean cooking companies under the TDB debt financing facility and the regional result-based financing facility.
• Côte d’Ivoire: Supporting studies for Ivoirian social infrastructure electrification, including gathering education and health center energy access data, along with evaluating the operation of existing mini-grids, which will additionally include recommendations for the prospective financing, operation, and management models for future mini-grids. While Cote d’Ivoire has an access-to-electricity rate of 71% (World Bank), thanks to sustained investment by the World Bank, AfDB, other lending institutions, and the Ivorian public and private sectors, these studies will allow access developers to reach those schools, health centers, and communities that remain unelectrified.
• Democratic Republic of Congo (DRC): Strengthening the capacity of the rural and peri-urban electrification agency, Agence Nationale d’Électrification (ANSER), to implement its Mwinda Fund This support aims to mobilize private sector participation in electrification projects. The TA includes developing operational processes, capacity building, and providing strategic and technical assistance. The broader objective is to mobilize additional resources, targeting US$500 million by the end of 2030, contributing to the DRC’s ambitious electrification goals​. The TA will support private sector led DRE projects in the DRC.
• Liberia: Assisting the World Bank’s electricity sector strengthening and electricity access program can deliver new or enhanced electricity services to 5.3 million people by 2030, where currently only 33.2% of the population has access to electricity (World Bank). The TA will also support the Liberia Electricity Corporation (LEC) to prepare electric network planning and design manuals, incorporate relevant and applicable international standards, and procure operational and maintenance manuals for local transmission and distribution networks to be adopted as national reference documents. These documents will guide LEC to plan, design, construct, operate, and maintain its transmission and distribution networks in accordance with internationally accepted standards, while simultaneously enabling LEC to plan and design substation, transmission, and distribution system upgrades in identified gap communities.
• Madagascar: Updating and integrating national and regional electrification plans, where on average 3 out of 10 people having have access to electricity (World Bank). TA will also provide the government with recommendations on promoting the commercial sustainability of its solar kit distribution program (e.g., providing reliable after-sales service for solar kits) and its results-based financing (RBF) program, as well as on-the-ground support for local businesses that will be responsible for providing after-sales service for solar kits distributed through the social distribution and RBF programs.
• Malawi: Advancing peri-urban electrification planning to improve efficiency in implementing both grid and off-grid electrification programs through cost reduction and a higher pace of connections, where only 23% of the population has access to electricity (World Bank).
• Mozambique: Providing support across the value chain for scaling up renewable energy generation and implementing institutional reforms to ensure that the proposed electrification plan is sustainable and does not compromise quality and reliability of energy supply. Assistance will contribute to developing a plan to ensure that environmental, social, and stakeholder plans are developed to support the World Bank’s ASCENT Mozambique Currently, around 40% of the population have access to electricity through the grid or mini/off-grid systems (IEA).
• Nigeria: Supporting the Nigeria Distributed Renewable Energy Enhancement Facility (DREEF), which seeks to provide project preparation and sponsor support to pathfinder DRE developers including interconnected mini-grid projects, mini-grid projects, and standalone solar system as a service business model. The TA will also support project preparation for transmission and projects under the AfDB’s Desert to Power program in the country, where the rate of population growth has outpaced the increase in electrification (World Bank). The support will also provide technical and quality review of projects under the Desert to Power program and provide a project coordination office for all electrification projects.
• Tanzania: Reviewing lessons learned and providing recommendations for improving the Renewable Energy Investment Facility’s (REIF) operating guidelines to accelerate off-grid access, which has made tremendous progress in increasing the electrification rate from 7% in 2011 to 38% in 2020 (World Bank). The TA will also help improve legal and regulatory frameworks for private investment in the power sector and provide support for the Tanzania Accelerating Sustainable and Clean Energy Access Transformation in Eastern and Southern Africa Program (ASCENT Tanzania), which targets 4 million new connections.
• Zambia: Updating the Electricity and Energy Regulation Acts to align with recent policy changes in the energy sector to promote the use of metering and deploying tariffs that will help improve the performance of the utility. With an overall electrification rate of 42%, these updates are expected to benefit over one million existing grid connections and facilitate the target of 1 million new grid connections by 2030 through various planned access to electricity interventions.

To sustain the momentum of Mission 300, GEAPP, The Rockefeller Foundation, and RFCC, along with Sustainable Energy for All (SEforALL), are assisting with its implementation and are co-developing philanthropic interventions to help advance the effort. This includes, but is not limited to, promoting productive use of energy, local currency financing, providing support to project developers, and global advocacy.

• Solar installations have reached new heights across the globe in 2024 with a whopping 503 GWp of estimated capacity. This represents a 44% increase compared to 2023. In Africa, the growth is more modest but new installations maintain a solid level at 2.5 GWp after 2022 and 2023 being record years for solar in Africa.

16 January 2025: Thanks to new solar installations, Africa is now home to 19.2 GWp (excluding residential installations). This is the 3rd year in a row that more than 2 GWp are being installed, which is testament to the good health of the industry. But solar in Africa did however not grow as much as the global solar market and still represents less than 1% of all solar currently installed across the globe.

Solar continues to spread across Africa

More and more African nations are adopting solar in their energy mix. Some already install massively, while other are making their first steps with solar. In 2024, 2 African nations installed more than 100 MW (one more than 2023), 16 installed more than 10 MW (stable) and 29 installed at least 1 MW (2 more than 2023). The best performers in terms of installed capacity include South Africa with an estimated 1,235 MWp, Egypt with 707 MWp, Zambia with 74.8 MWp, Nigeria with 63.5 MWp and Angola with 53.8 MWp. All these figures exclude residential installations as these are currently not tracked by AFSIA. It is estimated that these residential installations could represent 10% to 20% additional capacity.

But while solar conquers more African countries, the business nevertheless remains highly concentrated. In 2024, South Africa and Egypt represented almost 80% of all the new solar installed, respectively representing 50% and 29%. But with multiple projects already announced and at various stages of development in several countries which are new to solar, we may witness a more distributed spread of solar in Africa in the years to come.

If we look at the prevalence of solar in the overall national power generation, the Central African Republic still leads the ranking of countries where solar contributes the most to the overall electricity mix, with more than 40% of all grid electricity consumed in the country originating from solar. And another 6 African countries already have solar contribute more than 10% of their power consumption, which is a remarkable performance at global level. These countries are Mauritania (20.7%), Namibia (13.4%), Somalia (11.6%), Malawi (11.4%) The Gambia (10.6%) and Cape Verde (10.5%).

In terms of solar per capita, the 2024 top 5 remains almost unchanged. Wealthy islands Seychelles, Mauritius and Cape Verde are joined by African solar champions South Africa and Namibia. In the overall ranking, The Gambia lands at #16 and is the country that progresses the most (+25 spots) thanks to the commissioning of its 23 MWp Jambur Solar Plant Solar.

The boom of storage

Storage is becoming a key element of the African solar eco-system. From 2017 to 2022, storage in Africa represented on average only around 50 MWh per annum. In 2023 this capacity grew to 150 MWh+ and in 2024 it grew to more than 1,600 MWh.

This exponential growth is to thank to sharply decreasing prices for lithium-ion storage solutions. Industry-leading research firm Bloomberg NEF estimates that the cost of such storage has decreased by 20% in 2024, after decreasing 13% in 2023. This is the strongest price decrease in the last 7 years.

The reason behind this significant decrease is a combination of production overcapacity and heightened competition between manufacturers. Several gigawatt factories were put online across the globe in recent years to address the expected boom of electric mobility. These investments also benefit the market of stationary storage thanks to the economies of scale they have created. And because electric vehicles sales have not delivered as promised, production overcapacity has added an element of intense price competition between manufacturers.

Therefore, the market experiences a real boom of storage within African solar projects, and within the power generation landscape at large. A few large-scale projects have been recently announced or have even started construction. Such projects include for example the 2nd phase of Soma Project in The Gambia with 100 MW / 130 MWh, the Lolda Solar Farm in Senegal comprising of 60 MWp of PV and 72 MWh of storage, and the impressive 900 MW PV / 720 MWh storage in Egypt developed by Masdar and Infinity Power.

Africa Solar Outlook report, a wealth of information country-by-country

Next to highlighting the most notable projects and trends, the Africa Solar Outlook 2025 report also provides a unique overview of the status of solar in each African country. The “Country Vignettes” describe the national eco-system of solar across its key parameters including country objectives for renewables energy, solar policies, current electricity tariffs, national electrification rate, key electricity institutions and current installed capacity in the country. These key parameters make it extremely easy to get familiar with the reality of solar in each country and compare national performance and opportunities.

The 2025 report can be downloaded at https://www.afsiasolar.com/data-center/outlook-report/

14 January 2025: EDFI Management Company announced today a significant investment in Moon Togo, a pioneering solar energy company operating in Togo. This investment through the Electrification Financing Initiative – ElectriFI aims to support Moon’s innovative community model and expand access to clean, affordable energy across the country.

Moon Togo is a pioneering solar energy company licensed under the Togolese government’s CIZO program, which facilitates the deployment of solar photovoltaic kits. The company operates a unique model that focuses on forming and hiring local members in each community, providing them with long-term employment contracts instead of relying on commission-based agents. With this investment, Moon aims to expand its operations significantly, increasing its reach from 20,000 to 60,000 connected households across 15 new prefectures, thereby enhancing clean energy access in Togo and setting a precedent for similar initiatives globally.

Rodrigo Madrazo Garcia de Lomana, CEO of EDFI Management Company, stated: “By supporting Moon’s expansion, we’re supporting the advancement of sustainable electrification in Togo and contributing to a model that could become a benchmark for similar initiatives globally. We believe this approach has the potential to transform lives and serve as a model for other undertakings.”

The investment will enable Moon to accelerate its deployment of solar home systems in rural areas of Togo. Moon’s innovative business model allows customers to pay for their solar kits through affordable monthly instalments. This approach makes clean energy accessible to low-income households and promotes financial inclusion through the use of mobile payments. Moon also manages the repair and collection of end-of-life products to facilitate recycling with a local Togolese partner. With a 15-year operating license and a strong partnership with the Togolese government, Moon is well-positioned to make a lasting impact on the country’s energy landscape.

Thomas Samuel, CEO of Moon, added: “”Partnering with EDFI Management Company and being supported by ElectriFI proves our model and our capacity to join forces with major financing institutions. The investment will allow us to significantly expand our reach in Togo, bringing clean, reliable energy to tens of thousands more households. Our model ensures that we’re providing a service that builds lasting relationships within communities, which is key to long-term success and impact.”

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About EDFI Management Company: EDFI Management Company (EDFI MC) is a multilaterally owned impact asset manager which delivers innovative development finance solutions that enable European DFIs, development banks and private sector investors to increase the scale and impact of their work. The company focuses on business models, technologies and geographies where other investors have not been able to operate at the desired scale given their resources and investment criteria.

The Electrification Financing Initiative – ElectriFI, managed by EDFI Management Company, is an impact-first investment facility, funded by the European Union, USAID’s Power Africa programme, the Government of Sweden and the Government of Italy. ElectriFI is investing in early-stage private companies and projects that increase or improve access to and supply of sustainable energy in developing countries. For more information, visit www.edfimc.eu.

23 December 2024: Trinasolar, a global leader in smart PV and energy storage solutions, proudly announces its strategic partnership with AMEA Power to supply 300MWh of its cutting-edge Elementa 2 platform (5MWh) for Abydos Battery Energy Storage Project in Aswan, Egypt. This landmark project is the largest solar PV initiative in Africa and the first to incorporate a utility-scale Battery Energy Storage Solution (BESS) in Egypt.

Developed by AMEA Power, the Abydos Solar PV Project is a transformative expansion of the existing 500MW Abydos Solar PV power plant currently, which is in operation, in Kom Ombo, Aswan Governorate. By pioneering the integration of a 300MWh BESS, the project underscores Egypt's commitment to sustainable energy innovation and resilience.

The inauguration ceremony for the 500MW Abydos Solar Power Plant, organized by AMEA Power, was attended by esteemed dignitaries, including His Excellency Dr. Mostafa Madbouly, Prime Minister of Egypt, and His Excellency Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy in Egypt, alongside Trinasolar executives.

As Trinasolar's first energy storage project in the Middle East and Africa (MEA), Abydos represents a major milestone for the company and the region. Highlighting Trinasolar's commitment to the MEA market, Vincent Wu, Global Sales VP & MEA MU Head at Trinasolar, stated: "This groundbreaking project highlights Trinasolar's vital role in driving innovation, ensuring safety, and supporting the region's transition to a more sustainable and dependable energy future. We are proud to contribute to such a transformative endeavor, bringing clean energy to Egypt and setting a benchmark for utility-scale energy storage solutions in North Africa."

Hussain Al Nowais, Chairman of AMEA Power, added: "AMEA Power is dedicated to advancing renewable energy projects that make a significant impact. The integration of Trinasolar's innovative Elementa 2 technology at the Abydos Solar PV Project represents a key step forward in Egypt's energy landscape and exemplifies the power of collaboration in achieving sustainability goals."

Energy China ZTPC, founded in 1958, is a subsidiary of Energy China Construction Group Co., Ltd. With decades of experience, ZTPC has evolved into a comprehensive enterprise specializing in thermal power stations, nuclear power plants, clean energy projects, power plant maintenance and repair, and power grid construction. The 500MWh Abydos Solar Power Plant, a key project in the region, is now commercially operational. Zhang Dan, Vice President Director, stated: "Abydos project is a milestone for Egypt as well as for ZTPC. We will fully dedicate ourselves to the project construction, contributing to the energy transition in the Egyptian region."

The deployed Elementa 2 platform (5MWh), featuring Trinasolar's in-house vertically integrated LFP cells, is an advanced grid-scale battery storage system built for efficiency, safety, and reliability. Key features include an innovative module design to enhance energy density and compatibility with multiple PCS systems, precise thermal management through smart liquid cooling technology, and comprehensive safety systems with advanced fire mitigation and suppression features. Engineered for adaptability, efficiency, and cost-effective maintenance, this platform optimizes performance while reducing overall project costs.

As the first utility-scale energy storage project in North Africa, Abydos marks a new era of energy innovation. By integrating renewable energy with advanced storage solutions, the project enhances grid stability, minimizes outages, and accelerates the region's shift toward a sustainable energy future.

Trinasolar remains at the forefront of the renewable energy revolution, delivering smart solar and energy storage solutions designed to empower a more sustainable future. With its Trina Storage portfolio, the company is setting new benchmarks in safety, efficiency, and innovation, enabling transformative projects like Abydos to enhance energy resilience and support the global transition to renewable energy. Together with its cutting-edge technology and commitment to excellence, Trinasolar continues to power sustainability across the world.

9 December 2024: Climate and impact fund manager Camco has reached first close on USD 107 million for its new REPP 2 debt fund to invest in the African grid of the future, with a further USD 78 million committed subject to conditions.

With backing from the Green Climate Fund (GCF), Norfund, FMO, BIO, Ceniarth and the Renewable Energy Performance Platform (REPP), which is funded by UK International Development, the achievement marks a significant milestone in Camco’s commitment to leading the transition to a net zero future in emerging markets.

REPP 2 is a pioneering fund aimed at delivering significant climate, economic and gender impacts while ensuring sustainable returns for investors in Africa’s fast-growing market for renewables. The fund is structured as a blended finance vehicle to leverage public and private investors to invest in Sub-Saharan Africa’s distributed and small-scale renewable energy market. In doing so, REPP 2 is supporting the decarbonisation of the African energy system while contributing directly towards closing the USD 22 billion annual investment gap needed to meet SDG7 and deliver reliable electricity access to all.

Ben Hugues, REPP 2 Director at Camco, said: “Africa’s energy transition is happening. It is critical to invest in the businesses building the African energy grid of the future, which is decentralised, renewable and reliable.

“This requires significant and urgent scaling up of finance to enable innovative companies to scale and generate both attractive returns and significant climate impact. It is so exciting to have so many world-leading investors on board who share our vision for Africa’s future and recognise the critical role of blended finance in the sector.”

Over its lifetime, REPP 2 aims to support the addition of 330MW of new capacity and the mitigation of over 12.7 million tCO2e in emissions. This will provide clean energy access to more than 7.7 million people and enhance the resilience of approximately one million beneficiaries.

REPP 2 will be supported with a technical assistance facility funded by Norad to accelerate market growth in the sector by addressing both the financial and non-financial barriers that are currently impairing project development and slowing down investments.

Additional quotes from investors:

Diane Isenberg, Founder and Managing Director of Ceniarth, said: “As a private investor in the energy access sector for the past decade, Ceniarth has seen firsthand the opportunities and challenges in bringing reliable electrification to underserved communities in Africa. We are proud to be supporting Camco as the firm brings the right mix of hard-earned experience and expertise to finance the deployment of a range of energy solutions, from solar PV mini-grids to grid-connected projects, at scale.”

Tellef Thorleifsson, CEO of Norfund, said: “Norfund firmly believes that decentralised and small-scale renewable energy will play a central role in delivering the energy access needed for African countries to grow sustainably. We believe REPP 2 can be instrumental in enabling and unlocking financing for such projects under development that would otherwise often struggle to attract capital.”

Marnix Monsfort, Director of Energy at FMO, said: “There is a significant shortage of debt and equity financing for small independent power producers and for companies that provide last-mile energy delivery solutions in Africa, especially in Least Developed Countries. Camco’s strong commitment to high ESG standards and its dedication to delivering reliable electricity access in underserved areas make the REPP 2 blended finance fund an important player in closing this financing gap. For FMO, the fund aligns closely with our mission to reduce global inequalities and support initiatives that promote energy access.”

Kavita Sinha, Private Sector Facility Director at the GCF, said: “The Green Climate Fund is proud to be supporting REPP 2. By catalysing innovative business models and capital for clean energy solutions in a region most vulnerable to climate change, we are not only advancing the region’s sustainable development, but also contributing to global efforts to combat climate change. This commitment represents a significant step forward in building a low-carbon, resilient future for the communities of Sub-Saharan Africa while unlocking new opportunities for economic growth and energy access.”

Andrew Lucas, REPP Board member, said: “REPP is proud to be an anchor investor in REPP 2, which builds on what we’ve learned from REPP. The blended finance structure of REPP 2 has attracted a range of investors, from DFIs to private, underlining the critical role blended finance has in building the African grid of the future.”

9 December 2024: Since its launch in 2019, the BRILHO programme, funded by the governments of the United Kingdom (FCDO) and Sweden (Sida) and implemented by SNV, has reached a historic milestone by delivering off-grid energy solutions to 3 million Mozambicans. This impact includes solar home systems, mini-grids, and improved cooking solutions, transforming lives and fostering a sustainable future in Mozambique.

The BRILHO programme was launched with the vision of catalysing Mozambique’s off-grid energy market by promoting affordable, efficient, and clean technologies to meet the needs of communities without access to the national electricity grid. This innovative initiative has been essential in reducing dependence on fossil fuels and firewood, improving health outcomes, enhancing quality of life, and protecting the environment.

Key Achievements of the BRILHO Programme in Five Years (2019–2024):

• Energy access for 3 million people: Significant impact on off-grid communities previously reliant on polluting and unsafe energy sources.
• Supporting the Government of Mozambique in the development of the first off-grid energy regulatory framework.
• Over 350,000 connections through solar home systems and mini-grids: providing reliable electricity in off-grid areas.
• Distribution of more than 250,000 improved cooking solutions: Reducing firewood and charcoal use in average by up to 70%, with positive effects on public health and environmental preservation.
• Over £39.6 million in private co-investment: Stimulating local entrepreneurship and empowering micro, small, and medium enterprises (MSMEs) to distribute and maintain clean energy technologies.
• Carbon emissions reduction: Avoiding more than 763,000 tonnes of CO2 equivalent, directly contributing to national and global climate mitigation efforts.

To highlight its impact and outline the next steps, BRILHO has recently launched the report Transforming Off-Grid Energy Access in Mozambique: The BRILHO Programme Contribution. This publication showcases the programme’s results and introduces market “game-changers” and enablers that are fundamental for achieving universal energy access in Mozambique by 2030.

BRILHO reaffirms its commitment to continue transforming lives and promoting economic and social inclusion in Mozambique. With the goal of benefiting even more communities by 2026, the programme will continue fostering the adoption of clean and accessible energy technologies, aligned with the goals of the Government of Mozambique and the Sustainable Development Goals (SDGs), particularly SDG 7 – Affordable and Clean Energy for All.

Partnerships between funders, implementers, and local communities have been the driving force behind BRILHO’s success. As the programme progresses, it will remain a catalyst for sustainable development in Mozambique.

For more information about the BRILHO programme and its results, read the full report here.

4 December 2024: Ventures Platform, an early-stage venture capital fund investing in innovative startups across Africa has published its landmark climate tech whitepaper entitled, “Innovating for a Sustainable Future: Leveraging venture capital and startup Innovation to combat climate change in Africa.” Formally launched at the recently held Africa Prosperity Summit in Lagos, the paper explores how the agility and innovation of startups, combined with the strategic deployment of venture capital, can catalyse the development and scaling of climate-smart solutions tailored to the specific needs and challenges of African communities and ecosystems. Furthermore, the paper offers insights to climate tech startups on how to secure and maintain venture capital support, while providing an in-depth analysis of how venture capital and startup ecosystems can act as powerful engines of progress in the face of environmental adversity.

Since launching in 2016, Ventures Platform has funded over 90 startups, with at least one in every region of the continent and across various sectors including climate tech. Many of its startups are category leaders in fintech, healthtech, and insurtech, including Moniepoint, Mdaas Global and Tanel Health. While not primarily a climate fund, Ventures Platform recognises the importance of sustainable investments for long-term prosperity and has factored this into its investment guidelines by prioritising businesses that implement sustainable practices, reduce environmental impact and drive long-term ecological benefits. Drawing from its own learnings as a key player in Africa’s tech ecosystem and from broader research, Ventures Platform has published this climatetech white paper to better equip non-climate Venture Capitalists (VCs) and startups with insights and tools to support Africa’s climate resilience through strategic investments and operational choices.

According to the United Nations, Africa contributes under 4% of the global greenhouse gas emissions yet suffers disproportionately from climate change. In this white paper, Ventures Platform proposes a simplified framework focusing on adaptation, mitigation and enablers, to guide the African VC and startup ecosystem in addressing climate challenges. Adaptation strategies include developing climate-resilient infrastructure and agricultural practices. Mitigation efforts focus on reducing greenhouse gas emissions through renewable energy adoption and sustainable land use while ‘enablers’ encompass financing mechanisms, policy frameworks, educational programs, and technological innovations.

Presenting the white paper at the Africa Prosperity Summit, Dotun Olowoporoku, Managing Partner, Ventures Platform, shared, “African VCs often prioritise impact and livelihoods along with traditional metrics, but there is an urgent need to focus on climate-resilient business models. After months of hard work and collaboration, we are proud to present our landmark climatetech white paper which provides an in-depth analysis of the challenges and opportunities of climate tech in Africa, our role as Venture Capitalists and startups, and the critical importance of taking a holistic and coordinated approach to fostering climate innovation”.

He continued, “Climate change poses formidable threats with potential for severe impacts across multiple sectors; however building climate-resilient business models can unlock business, societal and environmental sustainability. As Venture Capitalists, we can drive change in Africa’s climate action by providing funds, encouraging innovation, and scaling climate-smart solutions. Startups like MAX, Rana Energy, and ThriveAgric, which was recognised in the 2024 TIME 100 Climate list, show how tech-driven solutions can address local issues and help global climate efforts. At Ventures Platform, we are deeply committed to investing in companies that are not only commercially successful but also actively contribute to solving some of society’s collective challenges”.

Commenting further on the landmark paper, Dolapo Morgan, Senior Investment Associate, Ventures Platform, shared, “Africa is at the receiving end of the world’s climate disaster and it is important for us to turn this challenge into opportunities. It is time for entrepreneurs to focus on building climate-resilient business models for long term sustainability while creating innovative climate solutions to tackle climate challenges. We are already beginning to see some startups and investors move in this direction and that is a good start. This white paper is a call for a coordinated Africa response towards scaling the opportunities that climate change presents to our technology sector, emphasizing the pivotal role non-climate funds can play in complementing and amplifying the efforts of climate-focused investments.

For climate tech startups in Africa to secure and maintain venture capital support, it is crucial to demonstrate both the potential for significant climate impact as well as the ability to achieve venture scale economics. This dual focus is essential in the context of addressing climate change while also delivering the rapid growth and high returns that VCs expect. To optimise this key positioning, Ventures Platform via this white paper, outlines key goals, strategies, challenges, and ecosystem support needed to enhance the impact of African climate tech startups, providing a comprehensive guide for non-climate VCs and entrepreneurs in the technology sector. It also proposes a framework for a coordinated climate response in the African tech sector.

Some key recommendations offered include:

• The need to establish an inclusive climate innovation fund to support underrepresented groups in climate entrepreneurship.
• Development of Africa-specific metrics for measuring the success and impact of climate-focused startups, considering both environmental and socio-economic factors.
• The facilitation of cross-border collaborations between different types of VCs through networking events, joint investment programs, and knowledge-sharing platforms.
• Conduction of sector-specific climate opportunity assessments to identify and prioritise high-potential sectors for climate innovation in Africa.

Venture Platform’s Innovating For a Sustainable Future climatetech white paper can be accessed in full here.

For additional information and interview requests, email contact This email address is being protected from spambots. You need JavaScript enabled to view it..

27 November 2024: Acumen’s Hardest-to-Reach (“H2R”) initiative has invested USD$5 million in “Brighter Life by d.light” (“BLd”), the first multi-country receivables financing facility formed by d.light and African Frontier Capital (“AFC”). BLd purchases customer receivables generated from d.light’s solar home system sales in Uganda, Kenya, and Tanzania, enabling these subsidiaries to grow faster and reach more customers. H2R’s investment will fund d.light’s Ugandan receivables and is expected to serve 2.3 million people in Uganda with energy access, 1.9 million of whom will likely access energy for the first time.

Many solar home system companies like d.light sell solar products on a Pay-As-You-Go (“PAYGo”) basis, where customers pay in instalments over months or years to make the products affordable for low-income customers. As a result, companies experience long cashflow cycles, slowing their ability to reinvest cash into the business and leading to many companies to take on a higher amount of debt to finance inventory and grow. By selling its receivables to BLd upfront, d.light’s subsidiaries will receive a higher amount of cash up front, enabling them to expand operations faster and serve more customers without overburdening its balance sheet. Also, as d.light will sell its receivables in local currency, BLd reduces d.light’s exposure to foreign exchange fluctuations, thereby mitigating currency risk in a region that has faced significant currency devaluation.

BLd and receivable special purpose vehicle structures also provide a myriad of benefits to its investors, such as isolating receivables from the originating company’s credit risk, being able to cater to different types of investors across different tranches and reaching higher scale. This advanced receivable financing model paves the way for market innovation and sets a benchmark for impactful and inclusive energy financing structures across Africa.

Nedjip Tozun, d.light co-founder and CEO, said, “We are deeply grateful for Acumen’s new investment, which will empower even more people without reliable electricity access to experience the transformative benefits of clean, safe, and affordable energy. This partnership, alongside AFC, underscores the power of our flexible and scalable securitized financing mechanism to drive sustainable impact and expand energy access to those who need it most.”

Eric De Moudt, AFC founder and CEO, added, “We are very grateful to have Acumen’s support on this groundbreaking social impact securitization which is helping d.light bring financial inclusion and access to reliable and clean energy to millions of people across sub-Saharan Africa.”

Sandra Halilovic, Head of Acumen’s H2R development facility, said, “Acumen’s investment will support a significant market innovation by funding one of the first and largest multi-country receivables financing facilities in Africa. As our first investment in Uganda, BLd will benefit millions of people across the country, making H2R’s funding highly impactful. We hope to see more structures like this one replicated in other regions to provide first-time energy access to people across the continent.”

25 November 2024: EDP will finance nine renewable energy projects that promote energy inclusion in Africa. The 6th edition of the A2E Fund, with a support of one million euros, is intended for initiatives in areas such as health and education, which will impact the lives of more than 5 million people.

More than 150 health facilities that provide primary care services and about 20 schools are among the main beneficiaries of the projects selected in the 6th edition of the A2E Fund (Access to Energy) in five African countries: Mozambique, Kenya, Malawi, Nigeria and Rwanda. In all, there will be nine projects that, through the use of renewable energy, will promote social, environmental and economic development in rural communities in these countries. In total, it is estimated that these new projects will benefit about 300 thousand people directly and more than 5.5 million indirectly.

“One in 11 people in the world still does not have access to electricity and two billion live without drinking water. We created the A2E Fund in viewing of mitigating these numbers. This is a programme that goes beyond a financial contribution – it represents, above all, a commitment to improving the quality of life of communities and a step towards a more sustainable future with greater energy inclusion”, says Vera Pinto Pereira, executive board member of EDP and president of the EDP Foundation. “At EDP, we want to continue to lead a just energy transition, positively impacting communities with clean, safe and affordable energy, leaving no one behind.”

Support for clean energy access projects has been a priority for EDP, within the scope of its global social impact strategy, EDP Y.E.S. – You Empower Society and in line with one of the core topics of discussion on the agenda of the recent COP29: the definition of new targets to finance the countries most affected by climate change.

Since it was launched in 2018, the A2E Fund has financed a total of 38 projects in 7 African countries, with support equivalent to 3.5 million euros, contributing to improving the lives of more than 230 thousand people directly and of about 2.5 million indirectly. With this initiative, EDP reinforces its strategy of social impact and just energy transition worldwide, especially in developing economies.

The projects, one by one

Selected from a total of 195 applications, the projects cover several areas, but have in common the use of decentralised solar production technologies. There of the nine projects of this 6thedition are focused on improving health care, four are aimed at educational institutions, one is directed to community development and one to water supply. With the support of the A2E Fund, they will be able to provide these services using renewable, secure and affordable energy.

As part of improving health care, projects to electrify rural health clinics have been selected. These include SAO Energy, which will power 45 clinics and 135 small businesses; Mesh Power, which will electrify 30 clinics, provide internet access points and offer three solar-powered ambulances, improving emergency response and transportation of vulnerable residents; and WeCareSolar, which will electrify 100 maternity wards, ensuring 24/7 emergency obstetric and neonatal care.

In the education sector, the Riley Orton Foundation will implement solar energy systems to power a STEM (Science, Technology, Engineering and Mathematics) Academy and a vocational training centre for out-of-school girls. Edukans will electrify 10 primary schools, improving teaching methods and access to educational materials, and create 10 school gardens and plant 10,000 trees.

In addition, two projects combine support for health and education institutions: the MIVA project, which will increase access to education and health care for 1,200 children with disabilities in three health centres and three special education schools in rural areas; and the E35 Foundation project, which will work in areas affected by internal displacement due to conflict, providing renewable energy solutions for three schools and one health centre, in order to reduce energy poverty. Finally, the APOIAR community project will install solar panels in a school and distribute 500 solar lamps to students, while the Give Power organisation will implement a project to provide drinking water to a community, promoting improvements in local health and quality of life.

To learn more about each of these projects, visit the A2E area on the EDP website.

18 November 2024: The Solar Cooking Program trains women in Uganda to become culinary entrepreneurs. An initiative of the Solar Electric Light Fund (SELF), the program equips participants with skills in solar cooking and baking, as well as marketing and accounting, to create career pipelines in the culinary space. The year-long pilot phase recently concluded in the Busoga rub-region. Initial results show hundreds of women earning income from the program, with additional benefits to clean cooking locally.

For the pilot program, SELF partnered with the Rape Hurts Foundation (RHF) — a Uganda-based organization that provides refuge and support to survivors of sexual- and gender-based violence. According to the Uganda Demographic and Health Survey, up to 22 percent of Ugandan women aged 15 to 49 have experienced some form of sexual violence. SELF and RHF developed the program to create career pathways for survivors on their healing journeys.

“Despite what they’ve been through, these women look toward the future with hope and ambition,” says Hellen Tanyinga, founder and executive director of RHF. “This program allows them to grow their skills and be at the forefront of this greater shift toward clean energy and clean cooking.”

According to the United Nations, 2.1 billion people rely on polluting cooking fuels, the vast majority in sub-Saharan Africa. These fuels, such as charcoal and wood, are estimated to cause 2 million premature deaths annually. By focusing on solar cooking, the initiative introduces an alternative solution for food production in this region.

The organizations deployed two solar bakery businesses, one in Jinja at the RHF head office and one in Kamuli at the RHF Bukyerimba vocational school. These locations, known as the Sanyu (or “happiness”) bakeries, are equipped with Lytefire solar cooking units, commercial-scale appliances that can bake, roast, dehydrate, and cook a variety of foods at scale.

People can come to the bakeries and receive skills trainings in solar cooking. Participants also learn business skills, such as marketing and accounting. Once graduated, participants can apply to work at one of the two bakeries. They can also utilize the units, free-of-charge, to set up their own cooking or catering business.

“Before coming here to join the solar cooking program, I didn’t have a job, and I was trying so much to get a job,” says program participant Ritah Akite, 25. “But when I came here and joined the solar cooking program, I learned different skills in baking bread, cookies, cakes, buns, and the skills enabled me to be self-reliant.”

To date, the program has trained 1,738 people. It has also raised awareness for the importance of clean cooking, and raised local demand for clean alternatives such as solar. In a region of Uganda that remains largely unelectrified, standalone solar appliances offer a sustainable and practical solution for food production.

“Clean cooking technology is a win-win for the planet and for human health,” says Bob Freling, SELF’s executive director. “It can also be a source of opportunity and a tool for lifting people up. That’s our goal here.”

14 November 2024: ENGIE Energy Access, Africa’s leading provider of off-grid solar solutions, is celebrating a major milestone in Zambia with the inauguration of five new solar mini-grids. The project inauguration marks a significant advancement in the company’s ongoing efforts to expand clean, reliable, and sustainable energy access across the country, transforming the lives of the Zambian people.

The project is part of the, “Increased Access to Electricity and Renewable Energy Production” (IAEREP) initiative, funded by the European Union through the Government of Zambia under the 11th European Development Fund. In addition to the ENGIE equity injection, it is also partially financed through the Facility for Energy Inclusion (FEI), managed by Cygnum Capital.

Transforming Lives Through Clean Energy

The launch of the five mini-grids is part of ENGIE Energy Access’s broader current commitment to deliver 71 solar mini-grids across Zambia over the next two years. This initiative will provide clean energy to more than 70,000 lives in rural communities across Zambia. With a total installed capacity of 5.7MW, the mini-grids will power homes, schools, healthcare centers, businesses, and government offices, greatly enhancing quality of life and fostering long-term socio-economic growth.

The first fifteen sites in this portfolio, located in Lusinde, Kandongwa, Nyimba Mwana, Chidiwa, Chataika, and others in Eastern Province, are all expected to be fully operational by the end of 2024. ENGIE Energy Access, in partnership with SagemCom as the contracted EPC, will construct, own, and maintain the mini-grids, ensuring reliable power for residential and commercial customers. This will bring clean cooking options, e-mobility opportunities, and irrigation solutions for sustainable agricultural growth, all contributing to the climate resilience and environmental goals of Zambia.

Speaking at the inauguration of the Chataika Mini-grid site in Sinda District, CEO of ENGIE Energy Access, Gillian-Alexandre Huart, highlighted the significance of the project: “Today’s inauguration represents a powerful step forward in our mission to bring life-changing, affordable, reliable, and sustainable energy solutions to the underserved communities in Zambia. These solar mini-grids are a game-changer for these communities. By providing clean energy, we are lighting up homes and empowering women and men, supporting businesses, in building a cleaner, more sustainable future. We are thrilled to anchor our ambition in the 1,000 mini-grid vision of H.E. the President of the Republic of Zambia Hakainde Hichilema. I am very proud of our dedicated team and grateful for our strong partnerships with the EU and the Government of Zambia.“

Helen Zulu, Country Director for ENGIE Energy Access Zambia, emphasized the company’s commitment to sustainable development: “Our team is deeply dedicated to creating opportunities for rural communities in alignment with our mission to deliver affordable, reliable and sustainable energy solutions. These mini-grids define the true meaning of life changing solutions, they will fuel entrepreneurship, improve education, and support better health outcomes for thousands of Zambians. We remain committed to going the extra mile in progressing energy access for communities that are beyond the grid.”

With its focus on electrification ENGIE Energy Access seeks to empower local economies. The company is committed to supporting over 1,300 rural businesses by providing access to affordable, clean energy for productive use. Through a strategic partnership with Customized Energy Solutions (CES), a Productive Use appliance financing company, it is helping entrepreneurs thrive, particularly in agriculture, education, and small-scale industry.

Chifunda Sikazwe, Head of Mini-Grid Operations at ENGIE Energy Access, shared: “Our solar mini-grids are designed to be simple yet highly adaptable and reliable in delivering service. We have utilized the latest technology and offer a flexible pay-as-you-go model through smart metering making electricity accessible to customers with varying payment capacities. Additionally, we prioritize safety in construction and are committed to strong environmental stewardship throughout Zambia.”

A Strong Commitment to SDG 7

ENGIE Energy Access’s mission aligns closely with the United Nations’ Sustainable Development Goal Seven (SDG7), which aims to ensure access to affordable, reliable, sustainable, and modern energy for all. As part of its broader strategy, ENGIE Energy Access Zambia contributes to a larger initiative aimed at connecting millions of people across Africa who still lack access to reliable electricity.

11 November 2024: Today, in support of His Excellency President Hakainde Hichilema’s initiative to electrify 1,000 mini-grids across Zambia, the Zambia Energy Demand Stimulation Incentive (ZEDSI), was launched. ZEDSI is a new financial mechanism focused on supporting mini-grid developers as part of a larger Presidential Initiative to reach 1,000 communities that was announced at COP28. Led by Sustainable Energy for All (SEforAll) with support from the Government of the Republic of Zambia, the initiative has opened applications for private mini-grid developers to improve electricity consumption and fast track Zambia’s first 105 mini-grids.

ZEDSI aims to stimulate economic growth in rural communities through reliable solar mini-grids, optimized mini-grid business models, and the deployment of replicable, scalable energy solutions in challenging rural environments. ZEDSI will initially focus on deploying mini grids across 105 priority sites, positively impacting the livelihoods of 30,000 rural Zambians and enhancing the welfare of over 100,000 people by powering schools, hospitals, and other community institutions.

Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All, and Co-Chair of UN-Energy, said: “I join world leaders in commending His Excellency President Hakainde Hichilema’s commitment to accelerate the deployment of decentralized renewable energy solutions through the 1000 Mini-grid Initiative. Through the Zambia Energy Demand Stimulation Incentive (ZEDSI), which is implemented by Sustainable Energy for All (SEforALL)’s Universal Energy Facility (UEF) with funding support from The Rockefeller Foundation, we will support the commercial viability of mini-grid projects and bolster rural economic development across the country.”

ZEDSI is administered by the Universal Energy Facility (UEF), with financial support from The Rockefeller Foundation and the Global Alliance for People and Planet (GEAPP), while building on existing commitments from the European Union, Beyond the Grid for Africa, and The World Bank. Managed by SEforAll, UEF provides catalytic, results-based financing to clean energy companies, enhancing the viability of decentralized renewable energy (DRE) solutions and contributing to the socio-economic development of rural communities.

Under the ZEDSI mechanism, local and international clean energy companies can apply for a share of USD 1.4 million (approximately ZMW 37.5 million). This performance-based funding will support developers in driving electricity usage among rural micro-enterprises, such as agro-processing and irrigation, and public facilities including schools and clinics. By stimulating end-consumer demand, developers can increase utilization rates, lower operating costs, and boost revenue generation, thereby promoting resilience and sustainability in mini-grids. The ZEDSI incentive package will focus on driving entrepreneurial efforts and rural development, supporting an array of end-users, including households, public institutions, and businesses.

Ashvin Dayal, Senior Vice President, Power and Climate at The Rockefeller Foundation, said: “ZEDSI’s launch is an important milestone in Zambia’s drive to build a more sustainable, equitable energy system. We are proud to support H.E. President Hichilema’s efforts to scale solutions that can transform the country’s energy landscape—and with it, the lives of thousands of Zambians.”

Next, SEforAll will actively support the development of a national investment strategy to drive broader investment into Zambia’s rural electrification sector, with the ambition of significantly improving rural energy resilience and benefiting over one million people. This initiative complements other major financing efforts, such as The World Bank’s Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) Programme, anticipated to launch in mid-2025.

Click here to learn more about the ZEDSI incentive, including the application requirements. Only eligible mini-grid developers registered and operating in Zambia may apply.

• Two of Africa’s leading energy technology companies are joining forces to help drive the digitization of Africa’s power grids and unlock more reliable, productive power;
• The merger occurs alongside a new funding round led by Equator VC and with participation from Praetura Ventures and KawiSafi Ventures;
• Advanced metering technology will transform Africa’s electricity industry by providing real-time monitoring, accurate billing, and enhanced energy management.

4 November 2024: In a landmark move to revolutionize Africa’s energy sector, SteamaCo, a UK-based leader in energy revenue management, has merged with Shyft Power Solutions, a Nigerian innovator in digital energy solutions that gained popularity recently with its community-metering solutions. The merger occurs alongside a new funding round led by Equator VC and with participation from Praetura Ventures and KawiSafi Ventures, who collectively bring together decades of experience investing in African and climate-tech ventures.

The merger unites two pioneers in advanced metering solutions, paving the way for rapid expansion into the grid-connected market and increased customer reach. SteamaCo has over a decade of experience providing advanced metering infrastructure (AMI) to energy companies across 20 African countries, transforming the energy sector with features like AI-driven loss detection for major power companies, including Aba Power. Its flagship product, Nimbus AMI, helps energy companies manage their networks, detect losses, and enhance customer service. Shyft Power Solutions entered the Nigerian market nearly eight years ago with its cloud-based distributed energy resource management system and diesel management solutions, introducing its latest metering solution, FlexView, which offers enhanced reliability and allows energy consumers to monitor usage in near real-time, eliminating the need for tokens.

The merger of SteamaCo and Shyft comes at a pivotal moment. Recent regulatory changes have opened up new investment opportunities for independent power producers (IPPs) and utilities, particularly in grid intelligence and metering. With rising energy costs, there is a growing need for reliable power. Globally, over a billion people lack adequate access to quality power. In Nigeria, approximately half of the country’s 220 million population is connected to the national grid, which currently cannot meet daily energy demand. Even those connected to the grid frequently experience blackouts, forcing them to rely on expensive and polluting alternatives. Distributed energy resources like solar home systems and mini-grids are essential solutions to address this energy access crisis. But this is changing, and the emerging SteamaCo entity is committed to playing a pivotal role in helping power companies, both on and off grid, leverage data-driven solutions to foster operational efficiency, streamlined revenue management, and mitigate downtime.

“Our vision goes beyond delivering cutting-edge technology; it’s about transforming the energy experience of power providers and their consumers. Alongside our customers, we can leapfrog inefficient grids and build more intelligent, resilient infrastructure. Power plays a critical role in economic advancement and enabling sustainable cities, so catalyzing digital transformation with our solutions is a part of our overall commitment to enabling smart cities and sustainable communities.” stated Shyft’s CEO, Ugwem Eneyo.

Tom Parkison, MD of SteamaCo, commented, “This merger greatly boosts our ability to grow in African markets. By combining our advanced metering technology with Shyft’s local expertise, we can better meet our customers’ specific needs. Together, we will foster innovation, improve our services, and provide effective, customized solutions to Africa’s energy issues.”

“This merger represents a pivotal moment in the evolution of energy management across Africa”, said Nijhad Jamal, Managing Partner of Equator. “We are creating a powerhouse capable of addressing critical energy challenges. This integration will enhance the sector’s ability to deliver reliable, smart metering solutions and drive significant progress in closing the energy access gap in Africa.”

The executive management teams of SteamaCo and Shyft Power Solutions will remain in place, and job creation is anticipated in markets like Nigeria. This merger also represents a significant milestone for Shyft, a female-founded and led African deep-tech start-up, as, according to data from the Africa: The Big Deal database, only 13% of venture capital in Africa goes to female founders. The combined entity will result in a predominantly female African management team.

4 November 2024: With a constrained national power grid and a global move towards greener energy, many South Africans are considering installing solar electricity solutions at home. However, they are often faced with a tough choice: paying a premium for high-quality products (often imported from Europe) or opting for more affordable products (often from China) and compromising on quality.

In both cases, when something goes wrong, there is often no recourse, as the consumer usually deals with a local agent – not the manufacturer that issues the warranty. Ener-G-Africa (EGA) has found a way to bridge the gap, providing high-quality, certified renewable energy products at a lower price point, while also offering warranties.

EGA offers innovative energy access solutions, designed and built in Africa for African needs, including solar panels (TÜV certified), biomass stoves and 100% locally made stainless steel clean-cooking stove components.

Through a combination of innovative manufacturing, local expertise, and a focus on sustainability, the company manages to provide products that are both high-quality and cost-effective, making a meaningful impact in African markets. EGA Chief Production Officer, Charlie Leaper shares two lessons for other local manufacturers.

Invest in first rate equipment; minimise supply chain costs

“High-quality production often requires advanced technology and equipment, which can be expensive and difficult to acquire for local manufacturers. Without modern machinery and tools, it’s hard to meet international quality standards while keeping costs low,” Leaper says.

Leaper explains that the EGA business started in Malawi and is now headquartered in South Africa. “We are an African company that understands the local markets, so we know what people are looking for and we focus on delivering that, rather than trying to retrofit products from overseas markets,” he says. “We also understand how to do business here. We manufacture our products in Africa for Africans, which reduces shipping costs and avoids import tariffs.”

By outfitting its facilities with custom-made metal forming machines and cutting-edge precision tools, EGA achieves high production efficiency. These tools enable the company to produce bespoke metal parts, improving quality while controlling costs through in-house capabilities.

EGA has actively engaged with several educational institutions and training providers to upskill employees, develop leadership capabilities, and meet technical requirements for its product lines.

Find a balance

Leaper says creating a sustainable business in Africa requires balancing production efficiency (such as automating aspects of the manufacturing process) and socioeconomic elements (such as job creation and skills development).

“EGA is a Proudly South African member, which means we’re committed to local socio-economic progress, and to making a meaningful contribution to building South Africa’s economy and alleviating unemployment,” says Leaper.

EGA primarily recruits its workforce from the communities in which it operates. For example, in 2024, when EGA launched its new solar panel manufacturing facility in Paarl, it invested in upskilling a previously unemployed community member, Shane Swaartbooi, training him to operate its state-of-the-art laser cutting machine.

Swaartbooi, who had no prior experience, says he had always wanted to work for an organisation such as Ener-G-Africa “because they do not just manufacture their products in quantities, but it is about manufacturing quality products that make a positive impact in people’s lives.”

He now manages the EGA laser cutting machine, worth $1 million, and is proud to work for the business. “Our products are good for the environment, but more importantly than that, South Africa has a huge energy crisis, and a high unemployment rate. Local manufacturing is important because it means that customers do not have to pay more for quality products because they are made right here at home.”

For more information, visit the Ener-G-Africa website, www.ener-g-africa.com.

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About EGA: Ener-G-Africa (EGA) offers innovative energy access solutions, designed and built in Africa for African needs. As a champion of sustainability in Africa, EGA is addressing the obstacles posed by climate change through locally developed sustainable and clean energy products and solutions, spanning the entire continent.

EGA aims to transform communities by giving them access to efficient cooking and affordable solar electricity solutions.

Established in Malawi in 2017, EGA was founded as a solar wholesale company. Today, the company operates its own manufacturing facilities in South Africa’s Western Cape province, producing a range of solar panels, clean-cooking stove components, biomass fuels, and advanced biomass stoves.

25 October 2024: SureChill, a leader in sustainable refrigeration technology, has secured a strategic equity investment from key partners including Gaia Impact, Sanofi’s Impact Investment Fund, EDFI MC, Chroma Impact Fund, Next54 (CFAO Group VC), and Novastar. This investment will enable the company to scale its efforts in delivering cutting-edge cooling solutions critical for global health and sustainability. Additionally, SureChill is being supported by Oikocredit and Hivos-Triodos Fonds with a credit facility aimed at accelerating the deployment of its “Cooling as a Service” model in Kenya and Nigeria, while providing working capital to its distributors.

These new partnerships underline SureChill’s commitment to advancing the productive use of renewable energy (PURE) sector and achieving its mission of delivering reliable cold chain solutions in underserved regions. SureChill’s innovative refrigeration systems enable small and medium-sized enterprises to generate additional income by preserving fresh products, while medical centers and clinics can reliably store and dispense vaccines and other temperature-sensitive medicines.

This combined investment will further strengthen SureChill’s impact in several key areas:

• Unique off-grid and weak-grid cooling: Over the next five years 30 million people impacted by the power of SureChill refrigeration through innovations and exciting new commercial models such as Cooling as a Service and Energy as a Service;
• Vaccine preservation: SureChill’s technology has already facilitated the safe delivery of 180 million vaccine doses, ensuring that life-saving immunizations reach vulnerable populations in remote regions;
• Improved health outcomes: This investment will enable SureChill to extend its reach, particularly in support of the GAVI 2030 initiative aimed at reducing the number of zero-dose children;
• Reduction in greenhouse gas emissions: By leveraging renewable energy and energy-efficient technology, SureChill solutions reduce greenhouse gas emissions by 70% compared to conventional refrigeration systems, contributing to a more sustainable future;
• Food waste reduction: SureChill’s refrigeration technology plays a crucial role in reducing food waste by maintaining optimal conditions for perishable goods, particularly in regions where food security remains a significant challenge
• Expanding reach: Over the next five years, SureChill’s innovative refrigeration models, including “Cooling as a Service” and “Energy as a Service,” are expected to positively impact the lives of 30 million people.
• Contributing to the UN’s Sustainable Development Goals: Owning a SureChill solar fridge contributes to nine of the United Nations’ Sustainable Development Goals, creating meaningful change beyond just refrigeration.

The strategic partnership with the new investors represents a shared vision of creating long-lasting impact through innovation. Rather than simply providing financial backing, these partners bring decades of expertise and support to help SureChill accelerate its mission.

“We are thrilled to collaborate with such esteemed partners who share our commitment to sustainable innovation,” said Emilien Di Gennaro, SureChill CEO. “Together, we are taking concrete steps toward solving critical global challenges related to vaccine preservation, climate change, gender equality, and food security. SureChill’s pioneering refrigeration technology, which operates without a constant power supply and without batteries, is set to drive universal access to cooling”.

Additionally, this investment supports the expansion of local commercial, logistical, and technical platforms in Sub-Saharan Africa. After establishing a Kenyan entity in 2020, SureChill has recently set up a new entity in Nigeria to further expand its unique and innovative business model, “Cooling as a Service.”

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.