22 February 2022: responsAbility Investments, the Swiss impact investment manager, and BIO, the Belgian Investment Company for Developing Countries, have provided a USD 10 million equivalent multi-currency loan to candi solar, a visionary financial and clean energy platform through which distributed energy infrastructure in emerging markets can be built at scale. This loan will finance new solar projects in South Africa and India, mitigating climate change. The loan structure provides flexibility in terms of the allocation of funds between South Africa and India as well as in terms of the denomination currency, allowing candi to dynamically align its funding profile with the growth of its portfolio.

candi pushes the frontiers of solar financing, creating pioneering solar ownership models through innovative contractual solutions. By taking the best aspects of the standard Power Purchase Agreement (PPA) model and marrying them with other advantageous elements, they provide simplicity, lower risk, and higher value. While the possibilities vary by region, candi is able to use its localised expertise to propose solutions that are best suited for the customer and the context.

Matthew McShane, Investment Officer at responsAbility: ‘Through our investment in candi we are supporting a fast-growing and dynamic company in the energy sector in South Africa and India. We strongly believe in the potential of the commercial & industrial sector, which is at the core of our investment strategy. We are also pleased to partner with BIO on this transaction to enable further growth and impact opportunities.’

Hardol Grisar, Infrastructure Investment Officer at BIO: ‘This investment is a premiere for BIO within the commercial & industrial distributed energy sector. candi solar is a partner of choice with a genuine entrepreneurial spirit, and a highly skilled staff.’

Fabio Eucalipto, Finance Director at candi: ‘With the successful completion of this transaction, we have not only gained access to new capital but also created a scalable and flexible funding channel through which we will be able to accommodate additional investments in the future. This is a central component of our plan to deploy a three-digit USD million amount into solar assets by 2024.’

In addition to the environmental benefits of financing solar assets that would avoid an estimated 26,500 tons of CO2-equivalent per annum, the investment in candi falls under the leadership criteria of the 2X Challenge –  because of candi’s contribution to address gender disparities and enhance women’s economic empowerment, particularly in renewable energy. candi solar intends to continue working closely with both responsAbility and BIO to further strengthen its efforts in this regard.”

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About responsAbility Investments AG: responsAbility is a leading impact asset manager who designs investment products that make the world more sustainable. Since our inception in 2003, we have been investing in growth markets, directing capital where it is scarce, and targeting both measurable positive impact and attractive financial returns. As of December 2021, responsAbility manages more than USD 3.7 billion in assets invested in over 300 ESG-vetted high-impact companies in 76 countries. Since inception, funds managed by responsAbility have provided over USD 11 billion in debt and equity financing to companies active in the areas of climate finance, financial inclusion, and sustainable food whose business models directly contribute to the United Nations Sustainable Development Goals (SDGs).

responsAbility is headquartered in Zurich, Switzerland, with offices in Bangkok, Lima, Mumbai, Nairobi, Paris and Tbilisi. The company’s shareholders include its own employees as well as various renowned Swiss and international financial institutions. responsAbility is authorised by the Swiss Financial Market Supervisory Authority FINMA.

On January 27, 2022, M&G plc, the international savings and investments business, announced that it has agreed to acquire a majority stake in responsAbility Investments AG. M&G has agreed to acquire approximately 90% of the issued share capital of responsAbility and expects to acquire the remaining 10% in due course. The acquisition is subject to regulatory approval. For more information, visit: https://www.responsability.com/.

About BIO: BIO is a Development Finance Institution established in 2001 by the Belgian Development Cooperation to support private sector growth in developing countries. BIO provides long-term financing to enterprises, the financial sector, and private infrastructure projects, as well as grants for feasibility studies and technical assistance programmes. BIO operates as an additional partner to the financial institutions and looks for projects with a balance between return on investment and development impact. BIO is a member of EDFI (European Development Finance Institutions). For more information, visit: http://www.bio-invest.be/.

18 February 2022: The Board of Directors of the African Development Bank Group on Wednesday approved the Leveraging Energy Access Finance Framework (LEAF), under which the Bank will commit up to $164 million to promote decentralized renewable energy in six African countries.

The $800 million program will help spur commercial and local currency investments to scale up the activities of decentralized renewable energy companies in Ghana, Guinea, Ethiopia, Kenya, Nigeria, and Tunisia.

Under LEAF, some 18 decentralized renewable energy projects are expected to be financed, providing access to six million people and businesses, resulting in 28.8 million tonnes CO2 eq. in greenhouse gas emission reductions over the lifetime of the systems.

Many African countries still face challenges in achieving universal access to sustainable, clean, affordable and reliable electricity. According to the latest Sustainable Development Goal (SDG) 7 tracking report, close to 600 million Africans lack access to electricity. As a result of the Covid-19 crisis, the number of people without access to electricity increased again for the first time in recent years.

Scaling up decentralized renewable energy (solar home systems, green mini-grids, and solar solutions for commercial and industrial use) is crucial to achieving the SDG7 objectives and requires significant private sector and local currency financing.

The African Development Bank developed the LEAF program, in collaboration with the Green Climate Fund, which approved $170.9 million in concessional financing for it in July 2021. The framework forms part of the Bank’s broader off-grid strategy under the New Deal on Energy for Africa and complements existing initiatives, such as the Sustainable Energy Fund for Africa.

The Bank’s Vice President in charge of Power, Energy, Climate Change and Green Growth, Dr. Kevin Kariuki, remarked: “The African Development Bank is delighted to partner with the Green Climate Fund on the Leveraging Energy Access Finance Framework, which will not only accelerate access to electricity based on decentralized renewable energy solutions, hence reducing the respective countries’ carbon footprints, but will do so with the active participation of a private sector facilitated by local currency financing and commercial capital availed under the program.”

Over six years, LEAF will deploy concessional finance, credit enhancement instruments and technical assistance to crowd-in private sector investors, including local banks, to finance and accelerate efforts to power the continent.

The Bank’s Acting Director in charge of Renewable Energy and Energy Efficiency Department, Dr. Daniel Schroth, added: “The approval of this program is very timely as it increases the Bank’s toolbox to support the fast-moving decentralized energy access market which complements conventional grid-connected solutions.”

14 February 2022: A Memorandum of Understanding (MoU) has been signed between the Energy and Environment Partnership Trust Fund (EEP Africa) and the Alliance for Rural Electrification (ARE). The MoU sets out the shared goals of the two organisations to address the barriers within the clean energy sector across Southern and East Africa. Both organisations are committed to promote social and economic development by increasing the share of renewable energies in the energy mix in the region.

The partners aim to work together on a number of activities, including joint offers and support services for African decentralised renewable energy (DRE) actors who work to address energy access, energy security and climate change challenges, co–organising workshops, and webinars on related topics as well as co–hosting networking events and providing direct business support to DRE companies.

In this regard, both parties aim to develop the capacity of renewable energy stakeholders in Africa to create local jobs and enhance the capacity of the sector to attract adequate financing for renewable energy projects and businesses. This will, for example, be achieved by spearheading “DRE Investment Academies” or similar trainings for early–stage DRE companies and other stakeholders, with the aim of raising additional fundraising and technical support.

Finally, the MoU states that the partners will collaborate on enhancing the knowledge base of the DRE sector in Africa to address key issues and bottlenecks for the smooth deployment of renewable solutions to achieve universal electrification.

David Lecoque, CEO of ARE said: “We strive to enable private sector to deliver universal clean energy access by 2030 and this MoU is a concrete step towards achieving this goal. Under this partnership, we will collaborate on scaling up the deployment of decentralised renewable energy solutions which will benefit local communities, support the economic development and address climate change challenges.”

Jussi Viding, Fund Manager of EEP Africa said: “The vision and goals of ARE and EEP Africa are highly complementary. ARE has brilliant networks and works holistically on several fronts in advancing the DRE agenda. This is extremely important for the early–stage clean energy businesses supported by EEP Africa, many of which are acting as first movers in their market segment. This partnership brings us closer together in our common efforts to support these businesses and the sector in general.”

• With a total contract value of $650,000, initial orders totaling $425,000 were shipped in Q4 2021.

3 February 2022: Clear Blue Technologies International Inc. (“Clear Blue” and the “Company”) (TSXV: CBLU), today announces that YahClick, the leading satellite broadband service provider, has selected Clear Blue as its preferred Smart Off-Grid, solar power system provider for large deployments of its telecommunication customer sites across Africa. Initial orders worth $425,000 in revenue, from two YahClick customers, across 44 sites commenced shipping in Q4 2021. Follow-on shipments for these and other YahClick customers are expected throughout 2022, beginning in Q1.

As a global Tier 1 satellite service provider, YahClick continues to strengthen its presence as a market leader in bringing connectivity across Africa. Initial installations under this partnership will begin in early 2022 for sites in Nigeria and Zambia, with an estimated target of close to 1,000 sites to be installed over the next 12 to 24 months. “Our partnership with Clear Blue delivers clean off-grid power to enable our proven, high speed, reliable, and affordable broadband connectivity for Africa’s leading network providers of choice,” said Farhad Khan, CEO of YahClick.

Initial system sales are expected to generate gross margins in line with the Company’s historical average. These orders were not included in Clear Blue’s Q3 bookings of $2.9 million but are expected to be included in Q4 2021 results. The initial orders across 44 sites totaling $425,000 in revenue are expected to have an estimated $225,000 of additional ongoing revenue, representing a total estimated 5-year lifetime contract value of $650,000.

Miriam Tuerk, Cofounder & CEO of Clear Blue, noted, “YahClick is a leader in broadband and satellite services across Africa. We are thrilled to be their partner as they roll out their customer networks across Africa. And this is only the beginning of Clear Blue’s role in bringing wireless power management solutions to unserved and underserved populations.”

With well over a billion people unconnected in Africa, the economic need to provide telecommunication services to underserved populations remains a key driver across the continent. Mordor Intelligence indicates that to meet the growing telecom demand for services globally, over US$4.47 billion in spending on powering telecom tower rollouts will occur in 2022, growing to US$5.25 billion in 2025, a 3.25% CAGR.

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About YahClick: YahClick (powered by Hughes) provides commercial Ka-band satellite broadband solutions to unserved and underserved communities across the Middle East, Africa, Central and Southwest Asia. YahClick aims to unlock the socio-economic potential of the communities it serves by bringing the benefits of digital inclusion through its cost-effective and high-performance broadband solutions. Delivered through the High Throughput Satellites (HTS), the service uses the efficiencies provided by the reusable ka-band satellite frequency and is powered by multi-spot beam technology to make satellite broadband affordable and dependable in areas where there is limited to no terrestrial infrastructure.

YahClick is a joint venture between the UAE-based Al Yah Satellite Communications Company PJSC, which is a public company listed on the Abu Dhabi Securities Exchange (ADX) and a subsidiary of Mubadala Investment Company, and Hughes Network Systems, a subsidiary of EchoStar Corporation. For more information, visit: www.YahClick.com.

About Clear Blue Technologies International: Clear Blue Technologies International, the Smart Off-Grid™ company, was founded on a vision of delivering clean, managed, “wireless power” to meet the global need for reliable, low-cost, solar and hybrid power for lighting, telecom, security, Internet of Things devices, and other mission-critical systems. Today, Clear Blue has thousands of systems under management across 37 countries, including the U.S. and Canada. (TSXV: CBLU) (FRA: 0YA) (OTCQB: CBUTF)

• With this investment, ecoligo will be able to expand and offer its solar-as-a-service solutions to more small and medium enterprises (SMEs) over the next 10 years;
• 15 projects planned in Ghana and Kenya.

2 February 2022: Social impact investor Oikocredit is providing a loan of € 5 million to ecoligo, a provider of “solar-as-a-service” solutions for commercial and industrial businesses in emerging markets. With Oikocredit’s support, ecoligo will be able to provide around 15 companies and organisations in Ghana and Kenya with both access to clean energy and the ability to benefit from significant cost savings.

Since its inception in 2016, ecoligo has been a pioneer in global energy transition and has offered its solar-as-a-service solutions to clients in emerging markets around the world. It has installed and commissioned 58 projects to date, for a total of 19.2 MW (megawatts), supporting over 41 businesses and non-governmental organisations (NGOs) in reducing their CO2 emissions while also making significant cost savings. A further 71 installations with a capacity of 41.7 MW have also been signed for development.

Markus Schwaninger, CFO at ecoligo, said: “It is a great pleasure to work with such an esteemed and renowned partner as Oikocredit who shares our mission. Thanks to their support, we have been able to scaleup our operations in sub-Saharan Africa and to bring more solar projects to life than ever before, allowing us to create meaningful change. We are looking forward to creating more social impact together with Oikocredit”.

Siebren Wilschut, Investment Officer at Oikocredit, said: “We’re delighted to support ecoligo, a rising star in the commercial and industrial sector, in their expansion to ensure access to clean energy. With Oikocredit’s support, ecoligo will continue to scaleup and increase its social impact to support SMEs and NGOs. With significant cost savings, SMEs and NGOs will be able to secure more jobs in local communities at the same time as reducing their CO2 footprint”.

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About Oikocredit: Social impact investor and worldwide cooperative Oikocredit has 46 years of experience funding organisations active in financial inclusion, agriculture and renewable energy. Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably. Oikocredit finances 527 partners, with a total outstanding capital of € 876 million (at September 30th, 2021). For more information, visit: www.oikocredit.coop.

26 January 2022: Today, Husk Power Systems, the rural clean energy services leader and operator of the largest fleet of solar hybrid mini grids, announced the signing of an Energy Compact with the United Nations to scale the rural clean energy market in South Asia and Sub-Saharan Africa.

Energy Compacts are voluntary commitments to Sustainable Development Goal 7 (SDG7) – access to affordable, reliable, clean and modern energy – with specific, trackable actions to advance progress on the energy transition and net-zero emissions. SEforALL spearheaded the process as a key outcome to the UN High-level Dialogue on Energy and COP26 in 2021.

Specifically, Husk’s compact put forward seven goals for the year 2030:

• Building at least 5,000 mini-grids;
• Establishing 1 million connections;
• Powering 500,000 micro, small and medium-sized enterprises (MSMEs);
• Benefitting 11 million people;
• Installing 500MW of rural commercial & industrial (C&I) solar;
• Selling 5 million energy-efficient appliances;
• Avoiding 7Mt of CO2.

According to the World Bank, minigrids have the potential to provide power to nearly 500 million people. To do that, over 200,000 minigrids and $200 billion would be needed. However, today there are only 19,000 minigrids globally and the industry has only attracted $5 billion.

“The mini grid industry is starting to scale and is demonstrating significant socio-economic impact, but we still have a long way to go to reach our full potential,” said Husk Power CEO and Co-founder Manoj Sinha. “Our compact with the UN is intended to put forward a more ambitious vision not only for Husk but the entire mini grid industry and by doing so, to mobilize a much higher level of climate finance and more supportive government regulation and policy.”

Added Kanika Chawla, UN-Energy and SEforALL programme manager: “We welcome the Energy Compact commitments made by Husk Power and appreciate their leadership. It showcases the business opportunity presented by the global energy transition, and how private enterprises can drive accelerated action on ending energy poverty, expand renewable energy solutions for consumptive and productive load, and improve the adoption of energy efficiency solutions by end consumers.”

Husk Power first outlined its 2030 goals at COP26. A video of that presentation is available on our YouTube channel: https://youtu.be/nqe36pdwGZ4.

A full registry of Energy Compacts, including Husk’s, is available on the UN-Energy website: ​​https://www.un.org/en/energycompacts/page/registry.

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About Husk Power Systems: Founded in 2008, Husk Power Systems is the leading rural clean energy services company. Its smart and sustainable solutions accelerate access to clean, modern and affordable electricity in Africa and Asia and catalyze socio-economic development. Husk’s customer-centric culture also matches the growing needs of households, businesses, and public institutions, while its grid-integratable solution supports national electrification plans. For more information, visit: huskpowersystems.com.

25 January 2022: The two first agreements under the EUR 108 million facility have been signed with companies promoting energy access for low-income customers in the rural areas of Liberia: Mobile Power Limited and Lib Solar (Liberia) Limited. The total value of the contracts is EUR 2.9 million.

“We are very pleased to announce the first projects under BGFA by two innovative energy companies active in the market. The programme supports early-stage energy service companies to grow sustainably in rural communities and develop clean energy access within these communities. Since Liberia is an early-stage market for off-grid energy solutions, and in response to the immense financial challenges resulting from the COVID-19 crisis, these innovative companies qualify for launch-to-scale funding as part of our differentiated offer to energy service providers,” comments Ash Sharma, Vice President of Green Transition Special Funds Unit at Nefco and Head of Beyond the Grid Fund for Africa.

Mobile Power has secured funding to develop its subsidiary in Liberia by establishing over 9,000 clean and affordable energy service subscriptions during a four-year period. These subscriptions will be delivered through an innovative business model that entails short-term rentals of solar-charged batteries to households, electric vehicles, and small businesses for powering productive use appliances (battery as a service). The subsidiary established its first Liberian MOPO Hub in 2020. Mobile Power has invested in technology to create the MOPO Battery and now has profitable battery sharing networks with over 3.5 million rentals, doubling in size every year. The batteries can be widely used, for example, to charge mobile phones, power electric vehicles, external light bulbs, run TVs, and provide household energy for 24 hours. Mobile Power will work with EcoPower Liberia, a firm engaged in the provision of electrical and solar installation services, for the technical establishment of the subsidiary’s additional MOPO Hubs.

“Our unique pay-per-use battery-sharing network has shown transformative results in communities across Sub-Saharan Africa. Mobile Power was established with the belief that Sub-Saharan Africa could be transformed if existing local entrepreneurship and unmet customer demand were unlocked through innovative technology. Every week, we launch new solar-powered hubs in partnership with communities, enabling customers to rent batteries from local agents. The battery-sharing service reaches across the affordability spectrum because it requires no deposit, no debt, and allows customers to rent as little or as often as they like. The partnership with Nefco further validates our vision for net zero energy and electric transport for all,” said Luke Burras, COO at Mobile Power.

LIB Solar will deploy BGFA funding to scale up its existing business in the West African nation by selling a total of up to 72,000 new high-quality, clean and affordable energy service subscriptions over four years. Since its establishment in Liberia, LIB Solar has provided over 23,000 solar home systems in the country through its range of products. The support provided by BGFA is considered essential for LIB Solar’s mobilisation of additional climate finance to scale up its operations in Liberia. The funding will support LIB Solar to reach customers in the most remote and challenging areas of Liberia, especially the counties of Maryland, Grand Kru and Rivergee, which are considered not to be commercially feasible without the BGFA funding.

“We are excited to work with BGFA to expand access to high-quality, affordable lighting and refrigeration to our customers in Liberia. This results-based financing marks the beginning of a new chapter for energy access in Liberia, one in which all rural households will have access to the products they need to improve their lives,” commented Nicholai Lidow, CEO at LIB Solar, in connection to the signing.

The projects offer high levels of additionality, as support provided by BGFA is considered essential for the mobilisation of additional climate finance to scale up operations in Liberia. Off-grid energy solutions provide a cleaner, safer, cheaper and more environmentally friendly alternative to candles and kerosene lamps, which are often used by low-income customers and customers in remote areas, while at the same time improving energy access for these customers. Renewable off-grid energy solutions reduce greenhouse gas emissions, decrease indoor air pollution and increase resilience to power access.

The Beyond the Grid Fund for Africa opened its first funding round in September 2020, including Burkina Faso, Liberia and a second stage in Zambia (BGFA1), and later two more funding rounds in Mozambique (BGFA2) and Uganda (BGFA3) in spring 2021. The facility is currently concluding the first round and will announce further supported projects in Burkina Faso, Zambia and Liberia in coming months.

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

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

25 January 2022: Bboxx, a next generation utility company, secures a KES 1.6 billion (c. USD 15 million) loan provided by SBM Bank Kenya, a local commercial bank, to provide access to clean, reliable, and affordable energy to nearly half a million people through off-grid solar home systems (SHS) in Kenya. GuarantCo, a part of the Private Infrastructure Development Group (PIDG), has provided a Kes 1.2 billion (USD 11.25 million) partial guarantee (75 percent) against the loan facility.

Historically investments on the African continent in the off-grid SHS sector have been made in hard currency, which can expose companies to significant exchange risks. Through mobilising a local bank, the guarantee will match the currency of funding needs with operations and collections and so contribute to the overall sustainability of the business. This is expected to have wider market benefits through demonstrating a model for domestic banks and increasing their appetite to lend to the sector.

The funds will be used by Bboxx Kenya to purchase new inventory over the next two years including 89,600 solar home systems and essential appliances such as fridges and phones. These are expected to serve 470,000 people, 80 percent of whom are based in rural areas and the majority of whom currently use torches and polluting fuel, such as wood and kerosene, as their main source of lighting.

The guarantee will support Kenya’s broader push towards electrification. Kenya’s electrification rate is estimated at around 70 percent though there is some disparity between urban (90 percent) and rural areas (60 percent). The Kenya National Electrification Strategy, developed in 2018, demonstrates the Government of Kenya’s commitment to scaling up off-grid electrification with ambitions to establish two million new connections by 2022, notably through solar home systems and mini-grids.

The transaction will contribute to United Nation’s Sustainable Development Goals: Affordable and Clean Energy (SDG 7) and Climate Mitigation (SDG 13) through increasing access to affordable and reliable energy.

At present, Bboxx Kenya employees 350 workers, 40 percent of which are women, and the company intends to maintain this proportion of female employment as the workforce as it grows. The transaction will enable the creation of a further hundred new long-term jobs with efforts to provide opportunities for women in the process.

Mansoor Hamayun, CEO of Bboxx, said: “We are very pleased to partner with GuarantCo and SBM Bank to accelerate access to clean, reliable, and affordable energy to hundreds of thousands of Kenyans. This fund marks a big milestone in our industry’s history. This transaction shows what is possible to achieve when forging partnerships between different stakeholders to mobilise private capital to the energy sector. This transaction is the largest single loan raised by Bboxx Kenya, it will enable us to unlock potential and transform even more lives for the better through energy access in Kenya. It is a positive step in the right direction in securing more funds to help tackle the global energy access gap and make progress towards meeting UN Sustainable Development Goal 7 – energy for all.”

Jeff Vanden Berghe, Managing Director Bboxx Kenya, said: “Over the past 12 months we have been working closely with GuarantCo and SBM to bring this partnership to fruition. This marks Bboxx Kenya’s first local currency transaction, which allows us to bring more renewable, low-cost and safe energy to an extra 470,000 Kenyans. The partnership will also help us expand our services to more remote regions of the country, working with the Government of Kenya, through its KOSAP program, to bring power to underserved communities.”

Emily Bushby, COO/CFO of GuarantCo, said: “We are delighted to partner with Bboxx and SBM Bank to make this solar home systems transaction happen to the benefit of people in Kenya. This is our sixth deal and first off-grid solar project in Kenya. We are proud to support the Kenyan government in its ambition to grow its off-grid capabilities and improve affordable, clean energy access to local people while involving the private sector and provide local currency infrastructure project financing which is at the core of GuarantCo’s business.”

Jotham Mutoka, Deputy Chief Executive Officer (DCEO) SBM Bank Kenya’s said: “SBM Bank is elated to spur the growth of the energy sector in Kenya through partnerships with like-minded entities such as Bboxx and GuarantCo. Through this transaction, I envision school children being able to access electricity at home to complete their school work when in the past they were in darkness, this will uplift the social-economic status of the entire home leading to a smarter tomorrow.”

Mr Mutoka disclosed that the SBM Bank is keen to work towards achieving the sustainable development goals of the UN on access to clean energy. “We continue to work with our customers in key sectors of the economy like energy, manufacturing, Agribusiness to offer unique and tailor-made solutions that meet their needs whether they are SMEs or large corporates. The Bank is keen working to offer sustainable finance, especially the renewable energy space to its clients,” concluded Mr Mutoka.

20 January 2022: The Alliance for Rural Electrification (ARE) and Power Africa has entered a new partnership to collaborate on the objectives of Power Africa to add 30,000 megawatts of installed generation capacity and 60 million new home and business connections in Sub-Saharan Africa, as well as ARE’s recently launched Energy Compact pledging to enable the private sector to deliver sustainable electricity services to at least 500 million additional people, catalyse the creation of at least 5 million green jobs, and avoid at least 1 billion tonnes of CO2e emissions by 2030.

In this regard, ARE and Power Africa will collaborate to facilitate networking opportunities, capacity building, market intelligence, development of knowledge products and guidelines and/or technical assistance to increase the adoption of decentralised renewable energy (DRE) in Sub-Saharan Africa. This in turn will enable clean, reliable and affordable electricity generation for households, essential services and businesses, as well as help unlock the necessary financial resources for the DRE market to expand.

David Lecoque, CEO of ARE underlined that: “We are thrilled to partner with Power Africa and look forward to collaborating to advance electricity access and sustainable development through DRE in Sub-Saharan Africa. As the objectives of Power Africa correspond to the goals of ARE squarely, this partnership is in line with our work towards reaching SDG-7 by 2030.”

Mark Carrato, Coordinator, Power Africa said that: “The partnership with ARE reinforces our shared commitments to increase access to clean, reliable and affordable energy and advance the productive use of renewable energy.  We look forward to working with ARE to increase the adoption of decentralised renewable energy which is so critical to achieving renewable energy targets in Sub-Saharan Africa and globally.”

19 January 2022: On December 21st 2021, The Africa Go Green Fund for Renewable Energy and Energy Efficiency S.A., SICAV RAIF (“AGG”) signed its second transaction, a USD 5.5 million medium-term senior secured loan with Bboxx Capital Limited (“Bboxx”), a holding company for several next generation utility companies expanding access to clean energy and clean cooking across Africa.

Bboxx, a next generation utility, is an industry leader and a global pioneer of Pay-As-You Go (PAYG) solar home systems and more recently LPG clean cooking stoves solutions. Operating across the DRC, Rwanda, Togo, Kenya, Nigeria and Burkina Faso, their innovative products are priced and sized to be accessible by low-income households and are sold on credit plans that are priced to fit. Having established itself as a leading off-grid energy access player in Africa, the company identified LPG clean cooking as a product that meets the demands of an increasing number of its customers and aligns with its mission to transform lives and unlock potential through access to energy.

The latest agreement between AGG and Bboxx will help drive efforts to overcome barriers to clean cooking adoption by providing accessible commercial solutions. This includes addressing issues such as distribution complexity and a lack of customer purchasing power, in a step towards ensuring clean energy access for all.

LPG as a cooking fuel has been identified as a product that can help solve many of Africa’s most pressing energy and environmental issues, from the destruction and damage of natural resources to the negative health and climate impact from burning wood and charcoal. AGG’s loan to Bboxx will help to underpin the mitigation of an estimated 760,000 tonnes of CO2, the equivalent of 150,000 passenger cars being driven regularly for a year. This is in line with AGG’s mandate to promote the reduction of greenhouse gas emissions.

AGG was initiated by KfW on behalf of the German Government to promote private investments which mitigate or reduce the emission of Green House Gases (GHG). AGG was launched with initial capital of €32 million and a Technical Assistance Facility of €3 million (first close). The Fund targets Energy Efficiency projects in all of Africa with a focus on West Africa, investing in Senior and Mezzanine loans with significant flexibility to tailor terms to the needs of borrowers. The Fund is managed by Lion’s Head Asset Management.

Mansoor Hamayun, CEO and Co-Founder of Bboxx, commented: “With the climate crisis continuing to gather at pace, it is now more vital than ever that the provision of clean energy for all is accelerated, in line with the UN’s SDG7 – clean energy for all. This is especially true for areas where a significant proportion of the population is living without access to electricity or clean cooking facilities, and we are therefore delighted that this loan will enable us to ramp up our delivery of affordable, clean electricity and clean cooking solutions across Africa. We are pleased to work with AGG and thankful for their support and recognition of the importance of our endeavours, forming part of our wider mission to transform lives and unlock potential in the developing world.”

Clemens Calice, Portfolio Manager for Africa Go Green Fund, said: “We are tremendously pleased to be able to support Bboxx’s ambitions to tackle the environmental and health issues arising from using firewood and charcoal for cooking. This transaction demonstrates how combatting climate change requires multiple approaches. AGG has been created to support Africa’s most innovative companies with tailored and flexible capital.” 

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About Bboxx: Bboxx is a next generation utility, transforming lives and unlocking potential through access to energy. Bboxx manufactures, distributes and finances decentralised solar powered systems in developing countries. It is scaling through forging strategic partnerships and its innovative technology Bboxx Pulse®, a comprehensive management platform using IoT technology. Through affordable, reliable, and clean utility provision, Bboxx is bringing people into the digital economy, creating new markets, and enabling economic development in off-grid communities and those living without a reliable grid connection. The company is positively impacting the lives of nearly 2 million people with its products and services in over 27 markets, directly contributing to 11 of the 17 United Nations Sustainable Development Goals.

So far, Bboxx has deployed more than 500,000 solar home systems. Bboxx has over 1000 staff across nine offices including in the Democratic Republic of Congo, Kenya, Rwanda, and Togo, with its head office in the UK and its manufacturing operations in China. In 2019, Bboxx was the winner of the Zayed Sustainability Prize in the Energy category – testament to the way the company is making a meaningful difference to people’s lives around the world. For more information, visit: https://www.bboxx.com/.

19 January 2022: Sun Exchange (www.thesunexchange.com), the global solar leasing platform that enables anyone, anywhere to own and earn income from solar assets in emerging markets, today announced the 510 kWp + 1MWh solar-plus-storage installation to power Zimbabwean agriculture leader, Nhimbe Fresh (https://nhimbefresh.com/), has started generating electricity. Sun Exchange previously completed the crowdsale for the project, with approximately $1.4 million of solar cells bought by over 1,905 individuals across 98 countries, making it the biggest crowdsourced project of any kind in Africa.The associations will work together on a number of activities, including joint advocacy for renewable energy policies in DRC to create a conducive market environment for decentralised renewable energy (DRE) actors, accompanying and contributing to the government’s efforts to achieve renewable energy targets as well as targeted business development and market intelligence support for DRE companies.

This is the first of a multiphase solar-plus-storage project that will provide the fresh produce grower and exporter with lower-cost and reliable electricity and nearly eliminate its reliance on the grid. The Sun Exchange model enables Nhimbe Fresh to cut energy-related costs by roughly 60 percent, and with solar power replacing coal and diesel generation/backup, its emissions will be reduced by more than 1,000 tonnes per year.

The landmark project will power the Nhimbe Fresh packhouse and cold store facilities. It marks Sun Exchange’s 44th completed solar installation, is the largest Sun Exchange solar project to date, first outside of South Africa and first to feature battery storage.

Abraham Cambridge, CEO & Founder, Sun Exchange, said, “With African countries under pressure to decarbonise while simultaneously growing their economies, we need innovation that enables clean energy for businesses without placing a burden on national budgets or hindering development. With our technology and community-driven approach to solar, businesses like Nhimbe Fresh can access affordable, reliable solar power, protect their operations from power outages, reduce energy costs and lead efforts to create a sustainable future.”

Energea Global, a U.S. renewable energy developer and portfolio manager, which manages over $100 million in funds, also purchased thousands of solar cells in the Nhimbe Fresh solar project.

Mike Silvestrini, Partner and Co-Founder, Energea, said, “With the impacts of climate change becoming alarmingly real across the world, we must support and scale solutions that address the finance gap for smaller solar projects in emerging markets. We share Sun Exchange’s passion for this work, and are proud and excited to have made this project part of the offering to our investors, joining Nhimbe Fresh on their solar journey.”

Dr. Edwin Masimba Moyo, Chairman and sole shareholder, Nhimbe Fresh, said, “We’re thrilled that so many sustainability-minded people from around the world are now earning income from the solar cells that power our packhouse. This sets an important precedent for what technology can make possible for solar power in Africa when organisations and individuals put their money to work doing good.”

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About Sun Exchange: Sun Exchange is an award-winning platform where anyone, anywhere can buy solar assets that power businesses and other organisations in sunny emerging markets. Solar cell owners create a positive impact while they earn, and the organisations they solar power gain access to smart, simple, affordable clean energy. The Sun Exchange global community spans across 180 countries. For more information, visit: www.sunexchange.com.

About Nhimbe Fresh: Nhimbe Fresh is a premier African exporter of blueberries, raspberries, strawberries, stone fruit, snap peas and snow peas, pioneering new, profitable ways of doing business through sustainability and environmental responsibility. For more information, visit: https://nhimbefresh.com/.

17 January 2022: A Memorandum of Understanding (MoU) has been signed between the Congolese Association for Renewable and Decentralised Energy (ACERD) and the Alliance for Rural Electrification (ARE). The MoU sets out the shared goals of the two organisations to address the existing obstacles which hinder the optimal use of the various renewable energies for electrification and the potential for energy efficiency in the Democratic Republic of the Congo (DRC). Both organisations agreed to promote social and economic development by increasing the share of renewable energies in the energy mix in Central Africa and particularly the DRC.

The associations will work together on a number of activities, including joint advocacy for renewable energy policies in DRC to create a conducive market environment for decentralised renewable energy (DRE) actors, accompanying and contributing to the government’s efforts to achieve renewable energy targets as well as targeted business development and market intelligence support for DRE companies.

In this regard, the associations aim to develop the capacity of renewable energy stakeholders in the DRC to create local jobs and enhance the capacity of the sector to attract adequate financing for renewable energy projects and businesses. This will, for example, be achieved by spearheading “DRE Investment Academies” or similar trainings for Congolese and international DRE developers and other stakeholders, with the aim of raising additional fundraising and technical support.

Finally, the MoU states that the partners will offer support through business development services for renewable energy actors working in DRC, to address electrification, energy security and climate change challenges, as well as conduct applied research to foster the market for renewable energy technologies.

David Lecoque, CEO of ARE said: “ARE views renewable electrification as the indispensable catalyst for economic growth, creating green jobs both domestically and regionally. DRC offers a huge potential for DRE in both rural and peri-urban settings and we believe the partnership with ACERD is an important stepping stone to further advance market development and promote DRE for households and businesses.”

Kathia Ajebo, President of ACERD said: “In the process of reducing barriers to enable equal access to innovative technologies and for a better representation at international level, we in collaboration with ARE  have signed an MoU to conduct several activities for the development of the renewable energy sector in the DRC. This agreement will allow the association to collaborate in a better manner and engage authorities towards a common goal for the country.”

6 January 2022: The EU-funded Electrification Financing Initiative (EDFI ElectriFI) and the UK-funded Renewable Energy Performance Platform (REPP) have each invested LSL 75m (~ EUR 4.4m) in equity and senior debt in a project-financed vehicle led by OnePower (1PWR), an innovative social enterprise with deep roots in Lesotho.

EDFI ElectriFI, REPP, and 1PWR have reached financial close on Africa’s second largest project-financed mini-grid transaction. The equity-and-debt investment into the project vehicle, Sotho Minigrid Portfolio SPV, will fund the construction of a portfolio of 11 mini-grids in Lesotho with a total capacity of 1.8MW. Once built, the mini-grids will provide first-time electricity access to 20,000 people and enable seven health clinics to benefit from renewable energy.

Lesotho, a landlocked nation surrounded by South Africa, has one of the lowest electrification rates on the continent, with about 62% of the population lacking access to electricity and with a rural electrification rate estimated at below 20%.

In addition to bringing grid-quality service to the 11 communities by deploying solar-battery energy systems, 1PWR will deploy a raft of technological innovations, including PV trackers – the only such systems currently being designed and manufactured in sub-Saharan Africa. The company will also deploy smart meters optimized for local and off-grid conditions, and pre-built powerhouses to ensure efficient construction and deployment of generation systems.

With the support of European programme GET.invest, 1PWR has optimized its financial modelling and mini-grid development process, enabling it to offer a tariff of 5 Maluti per kWh ($0.33/kWh), which is very competitive for an almost cost-reflective tariff.

Both EDFI ElectriFI and REPP, which is managed by Camco Clean Energy, have previously invested into 1PWR projects. EDFI ElectriFI started investing in the company in 2018, when the EU-funded blending facility signed a development finance loan of EUR 0.1m with 1PWR, allowing the organization to procure a comprehensive feasibility study which laid the groundwork for the current investment in 1PWR’s mini-grid portfolio. In 2019, REPP extended a LSL 7m loan to 1PWR to finance Lesotho’s first solar-battery mini-grid at the village of Ha Makebe. This project became operational in 2021 and now services 215 households and businesses in the community.

“Two years ago, a REPP loan helped 1PWR to forge ahead with its plans to build Lesotho’s very first solar mini-grid and deliver a transformational impact on the underserved community of Ha Makebe,” said Geoff Sinclair, Managing Director of Camco Clean Energy. “It has been tremendously satisfying to witness the successful completion of that mini-grid and there is a real buzz of excitement to now be supporting this next and much larger phase of the project.”

Today, EDFI ElectriFI and REPP are reinforcing their financial support to 1PWR. Once completed, the project aims to create approximately 7,300 new connections and generate up to 3,480 MWh per year, avoiding the emission of some 2,780 tons of CO2 annually. Up to 100 local jobs will be created by 1PWR during the construction of the project. Six permanent positions will be created during operations.

In addition to the investment by EDFI ElectriFI and REPP, 1PWR has received support from a variety of organizations for this project: Grant support was provided by the UN Capital Development Fund and UN Development Programme, the US Agency for International Development – Power Africa, the Energy and Environment Partnership Trust Fund (EEP Africa), and UKAID via the Transforming Energy Access program. 1PWR also received a loan from the Open Road Alliance. Furthermore, the company has benefited from the advisory and facilitation services of the European programme GET.invest as well as legal services from Sidley Austin and Covington & Burling through the Thomson Reuter Foundation’s TrustLaw program.

“This investment is an excellent opportunity for EDFI ElectriFI to support OnePower in its mission to provide stable electricity to more than 20 000 citizens but also to seven health centres in the country. It was a pleasure to work with a team of strong professionals dedicated to deliver the first solar mini-grids in Lesotho.” explained Quentin De Hoe, ElectriFI Senior Investment Officer at EDFI Management Company.

“We are proud to have supported 1PWR towards reaching this milestone with EDFI ElectriFI and REPP. The company’s persistent engagement and innovative portfolio approach have resulted in a major step for rural electrification in Lesotho, bringing modern energy services to those that need it most.” – Michael Franz, Team Leader at GET.invest.

“I am thrilled to close on this landmark mini-grid transaction with two excellent investors. As a team with deep roots in Lesotho, we are proud that this will not only connect 20,000 people to electricity, but also create renewable energy engineering and manufacturing capacity in the country. I want to extend my gratitude to the hard-working team at 1PWR as well as the numerous partners who have ensured the success of this project, most notably Lesotho’s Ministry of Energy and Meteorology as well as Michael Feldner of GET.invest,” concluded Matthew S. Orosz, CEO of OnePower.

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About OnePower: 1PWR is a social enterprise with roots at the Massachusetts Institute of Technology and is owned by a local and a US-based non-profit organization. The organization has more than 17 years of experience working in Lesotho, having developed a strong local presence and maintained relationships with various governmental entities involved in the energy sector to ensure that the deployment of mini-grids is consistent with national policy and regulation. The organization is dedicated to increasing energy access in Lesotho and hopes to attract further investment to achieve full energy access in the country. For more information, visit: www.1pwrafrica.com.

About EDFI ElectriFI: EDFI ElectriFI is an EU-funded impact investment facility, financing early-stage private companies and projects, focusing on new/improved electricity connections as well as on generation capacity from sustainable energy sources in emerging markets.

EDFI ElectriFI, is managed by the EDFI Management Company, a company established by the 15 European Development Finance Institutions (DFIs). For more information, visit: www.electrifi.eu.

About REPP: The Renewable Energy Performance Platform (REPP), managed by Camco Clean Energy, works to mobilise private sector development activity – and investment – in small to medium-sized projects (typically up to 25MW). It is supported with £148m funding from the UK’s International Climate Finance through the Department for Business, Energy and Industrial Strategy (BEIS), and to date, has agreed contracts with 30 renewable energy projects across 16 countries, employing six different technologies, from SHS and PV mini-grids to biomass and run-of-river hydro. For more information, visit: www.repp.energy.

6 January 2022: The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, has approved a $1 million grant to facilitate Botswana’s transition to clean energy . The technical assistance project supports the Government of Botswana in closing critical gaps in policy, regulatory and legal frameworks, which were identified at the Africa Energy Market Place (AEMP 2019). These include the introduction of least-cost planning, reduction of adverse environmental impacts and support for increased private sector participation in renewable energy (RE) generation investments.

Some of the notable outputs from the project include a national Grid Code, Electricity Cost of Service Study (CoSS) and licensing framework to regulate power sector activities. The outputs from the project will contribute towards the implementation of Botswana’s first Integrated Resource Plan (IRP), thus facilitating investments in new solar PV and wind generation capacity, amounting to at least 100MW and 50MW, respectively, by 2030. Through its support for the further development of the renewable energy generation sector in Botswana,  the project also contributes to  the Mega Solar initiative, launched in 2021 in collaboration with Namibia and development partners, with the aim of building renewable energy capacity in the two countries, to enable electricity exports to the rest of the region.

Conceptualised under SEFA’s Green Baseload component, the project "will contribute to the development of essential building blocks to support Botswana’s energy transition ", said Dr. Daniel Schroth, Acting Director for Renewable Energy and Energy Efficiency at the African Development Bank. ‘’It has been a long journey to access this AfDB grant facility,” observed Duncan Morotsi, Chief Operating Officer at the Botswana Energy Regulatory Authority (BERA), “The approval is a great step forward in the regulator’s quest to facilitate independent power producers (IPPs), renewable energy sources and cost reflective tariffs in Botswana.  It was worthwhile pursuing this technical assistance from the AfDB’’.

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About SEFA: SEFA is a Multi-Donor Special Fund that aims to unlock private sector investments that contribute to providing universal access to affordable, reliable, sustainable, and modern energy services for all in Africa, in line with the Bank’s New Deal on Energy for Africa strategy and Sustainable Development Goal 7.

20 December 2021: The French Agency for Ecological Transition (ADEME) and the Alliance for Rural Electrification (ARE) have entered into a partnership to promote and provide market intelligence on productive use of energy, as well as advance renewable and reliable electricity for essential services in Benin, Cameroon and Madagascar.

Targeting these countries, the partners will carry out the following activities:

1. a market study on decentralised renewable energy (DRE) equipments for productive use,
2. a technical guide for rural healthcare facility electrification, and
3. an awareness campaign on DRE deployment for productive use in rural communities.

Currently, the rate of access to electricity in rural areas is 6.6% in Benin, 24% in Cameroon and about 5% in Madagascar. However, all three countries have significant local renewable energy sources. Benin has a high rate of sunshine all year round and can favour the production of electricity via solar energy. Cameroon has a huge potential for hydroelectricity thanks to its five watersheds, to which a significant potential in biomass and solar can be added as well. Madagascar also has a strong potential for solar, biomass and hydropower.

The three activities that ARE aims to carry out with the support of ADEME are in line with the approach of promoting reliable, sustainable, modern and affordable renewable energies while taking into account the specificities of each country.

David Lecoque, CEO of ARE stressed: “At ARE, we consider renewable electrification, economic development, through productive uses of energy, and climate as intricately-linked topics that must be addressed holistically. That is why we are thrilled to enter into this partnership with ADEME to jointly support the development of a sustainable and inclusive private sector-driven DRE sector in Benin, Cameroon, and Madagascar, contributing to improved access to clean, modern and affordable electricity, including for essential services such as health care facilities.”

Philippe Masset, Director Europe & International of ADEME confirms: “At ADEME, we have been working in the field of sustainable energy access for more than 30 years alongside our partners on innovative projects. In this line, we are delighted to be able to support ARE in this project, which will strengthen local welfare and socio-economic development by working on two key elements linked to access to sustainable energy: the health sector and the productive uses of energy.”

• Bboxx sees positive results from cash loan pilot in Kenya, providing affordable, quick, and easy access to financial services;
• Necessary step to help bridge the gap with millions of people unfairly excluded from mainstream finance;
• Another step towards Bboxx building a digital marketplace for all underserved customers and following MoU signed to sell smartphones in Togo;
• Scaling partnerships needed to roll out initiatives further in 2022.

15 December 2021: Bboxx, a next-generation utility, is ramping up the promotion of greater financial inclusion in Africa through a series of new initiatives. Among these is a cash loan and affordable financial services pilot aimed at positively transforming lives in Kenya.

The pilot has secured access to finance for customers who would otherwise struggle to obtain it elsewhere. These cash loans will help to significantly support people, from improving financial capacities to invest in businesses like farming to paying school fees, medical emergencies, among other uses. Bboxx acts as the platform between the customer and the lender, using its platform Bboxx Pulse® and its credit scoring algorithm capabilities to identify customers that may require a loan. Bboxx has partnered with a Kenyan Fintech company, a financial services provider to conduct this pilot. Since the launch of the pilot, Bboxx has recorded a repayment rate of 80% and a low NPL (Non-Performing Loans) at 2%. This is a positive indication of what can be expected when scale happens.

The opportunity to transform lives for the better through providing access to financial services is huge, with over half of the population in Sub-Saharan Africa not currently banking or borrowing from a regulated financial institution*. Bboxx’s customers are often building digital credit histories for the first time through paying for their solar energy Pay-As-You-Go via mobile money. Despite being excluded from mainstream financial services, Bboxx’s data backs up that these customers are highly reliable. Bboxx is looking to roll pilots out further in 2022 in Kenya and other markets, working with financial institutions, fintechs and traditional banks.

Bboxx CEO and Co-Founder, Mansoor Hamayun said: “We believe that technology is the key to unlocking inclusive and sustainable development in Africa. The launch of our latest cash loans pilot in Kenya is part of our wider strategy to continually innovate and to promote financial inclusion throughout Sub-Saharan Africa. There is a significant untapped market opportunity here to enable people who have been previously unfairly cut off from finance to reach their full potential.

“Through leveraging our scalable technology platform and decentralised distribution network, we have a growing pipeline of opportunities where we can significantly help customers across a variety of sectors and services. We look forward to keeping up momentum as we accelerate our pilot launches throughout 2022 and beyond, working with a range of partners to put this vision into action.”

The launch closely follows Bboxx’s recent signing of the first ever Memorandum of Understanding (‘MoU’) to sell smartphones in Togo, in partnership with the Togolese Government. The MoU will improve digital inclusion and the delivery of digital public services, with the smartphones made available to the public via more affordable financing options.

Both initiatives form part of Bboxx’s broader vision to build a digital marketplace for all underserved customers across a range of essential sectors and services. Bboxx’s roots lie firmly in clean energy driven by its purpose to tackle energy poverty. The business is investing in IoT technology solutions and using its innovative proprietary Bboxx Pulse® platform to scale clean energy access in Africa. Pulse® software is now evolving further in response to customer demand for wider products and services, including pay-as-you-go LPG clean cooking systems, solar-powered water pumps and irrigation systems for farming, through to TV content, internet and smartphones, all of which can be delivered once people have access to clean energy and built up a track-record of online bill payments.

Access to energy brings people into the digital economy and fosters greater financial inclusion. Bboxx impact analysis has found that thousands of people have undertook more economic activities as a result of using Bboxx’s energy products and services, generating entrepreneurship and $30m of income within hard-to-reach communities who have previously been overlooked.

14 December 2021: The World Bank approved today a $300 million grant from the International Development Association (IDA) that will support the Government of Mozambique’s efforts to increase access to energy and broadband services, as well as strengthen the operational performance of the country’s electricity utility.

“Mozambique’s economy can benefit from systematically harnessing the synergies of energy and digital connectivity in rural and fragile areas to enhance economic productivity, promote inclusive growth and build resilience in a sustainable manner,” said Idah Z. Pswarayi-Riddihough, World Bank Country Director for Mozambique, Madagascar, Comoros, Mauritius, and Seychelles.

Energy access remains low in Mozambique with significant rural-urban disparities. The rural electricity access rate is estimated at about 8%, against 72% in urban areas. Only 4% of the population in Mozambique has access to clean cooking solutions. Likewise, access to telecommunication services is limited, with only 30% of the population using the internet.

“We will focus on energy provision to the poor, to those displaced by conflict and to critical social services such as schools and hospitals where private sector participation is limited. This financing will also help local enterprises bridge market and capacity gaps and grow as reliable partners in the provision of energy and communication services,” said Samuel Oguah, Senior Energy Specialist, and the project’s co-task team leader.

The project financing will be utilized to expand on-grid peri-urban and rural grid electrification to over 3% of the nation’s population (1,1 million beneficiaries); expand off-grid electricity access and clean cooking solutions through increased availability and affordability with a particular focus on underserved areas of the northern provinces; and expand broadband access for at least 580,000 people thereby supporting efforts to improve service delivery and bridge the digital divide. Part of the funds will also be utilized to improve the electricity utility’s operational performance. The project leverages private sector investments and builds on development patterns’ interventions, particularly on clean energy solutions.

“Another area of our focus is on productive use of electricity particularly in agriculture,” added Claudio Buque, Senior Energy Specialist, and the project’s co-task team leader. “By investing in clean cooking solutions, we’ll contribute to reducing the health risks of women and children, particularly those associated with traditional cooking.”  

“Energy and information and communications technology (ICT) access increasingly go hand in hand – electricity is needed to power digital devices and networks, while mobile communications and payments can unlock new business models for low-cost solar home system deployment,” added Casey Torgusson, Senior Digital Development Specialist, and the project’s co-task team leader. “By adopting a coordinated approach in the deployment of energy and ICT, this project holds significant potential to improve access to energy and broadband services in rural areas, creating greater social and economic connection and opportunities in otherwise isolated communities.”

This project is co-financed by the Kingdom of Sweden and the Kingdom of Norway through the Mozambique Energy for All Multi-Donor Trust Fund with an additional amount of $38 million equivalent and the ESMAP Clean Cooking Fund in the amount of $5 million. It will contribute to the achievement of the government’s National Electrification Strategy, which aims to provide electricity for all Mozambicans by 2030. This operation is aligned with the World Bank Group Country Partnership Framework (CPF) for Mozambique FY17-21, especially on its focus on inclusive growth and private sector development.

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About World Bank’s International Development Association (IDA): The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 74 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change to the 1.3 billion people who live in IDA countries. Since 1960, IDA has provided $458 billion to 114 countries. Annual commitments have averaged about $29 billion over the last three years (FY19-FY21), with about 70% going to Africa. For more information, visit: IDA.worldbank.org.

13 December 2021: Release by Scatec has entered into a lease agreement with electricity company ENEO in Cameroon to deliver two hybrid solar and storage plants totalling 36 MW solar and 20 MW/19 MWh storage. The plants will supply low cost, clean and reliable electricity in Maroua and Guider in the Grand-North of Cameroon. IFC is partnering with Release to realise these redeployable projects.

Release by Scatec will further install 7.7 MWp solar in Chad to supply clean, renewable energy to five smaller grids owned by ZIZ Energie. FMO and Energy Access Ventures back the Chad project.

Cameroon

“We are pleased to enter into this agreement with ENEO, which further fuels our journey to make renewable energy more accessible and affordable across growth markets. The deal marks our entry into the Cameroonian market, and we are proud to contribute with a cost-efficient and immediate solution to a cleaner and more stable electricity supply in a region suffering from power shortages caused by droughts limiting the supply of hydropower,” says Raymond Carlsen, CEO at Scatec.

Release by Scatec is a pre-assembled, modular and redeployable solar power and storage system, allowing for fast and easy power generation. ENEO and Release by Scatec have entered into a flexible contract term that enables ENEO to coordinate the generation capacity with their needs going forward.  

IFC will contribute 10-20% of the project costs of the Cameroon project and will further support the development of Release by Scatec through project development activities and future financing.

“Access to sustainable, reliable and affordable power is essential to economic recovery and growth. IFC is proud to partner with Scatec’s Release to help bridge the power gap in Cameroon through a unique solution that enables solar power systems to be quickly deployed to help meet the electricity needs of today while paving the way for more competitive, cleaner and long-term energy sector sustainability in Cameroon. This partnership fits with the World Bank Group’s mandate to align its work with the Paris Agreement goals to help our private and public sector partners meet global climate targets,” says Sylvain Kakou, IFC’s Country Manager for Central Africa.

The first power is expected to be delivered around year end 2021, and the remaining will be delivered in phases, where the full project is expected to be completed by mid-2022.

The pay-back time for Scatec’s investment in the project is in line with previous guidance around the Release business concept.

“The structure of this project is unique as it ensures supply of clean and reliable energy for governments and utilities, without sovereign guarantee requirements or parliamentary approvals. We believe this model will be a sound solution for many utilities in Africa struggling with power shortages and grid instabilities,” says Hans Olav Kvalvaag, SVP Release by Scatec.

Chad

In Chad, Release by Scatec is installing 7.7 MWp of solar plant capacity  across the country, which will support clean energy access to 300,000 people across 5 provincial cities and their newly built decentralised “metro-grids” developed and operated by local private utility ZIZ Energie. ZIZ Energie is backed by the Dutch FMO and Energy Access Ventures and has recently received funding from the Development Bank of Central African States (BDEAC), to build grid infrastructure and connections to provide access to electricity for households and industries in the proximity. Installation of the power plants is expected to be finished during 2022.

The projects in Cameroon and Chad add to Release by Scatec’s ambitions of providing cost-competitive, high-quality and redeployable renewable energy solutions with a unique financing model to countries and consumers that are hit hardest by the impact of climate change.

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About Scatec ASA: Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide. As a long- term player, Scatec develops, builds, owns and operates solar, wind and hydro power plants and storage solutions. In the first half of 2021, Scatec will have a total of 3.3 GW in operation on four continents and more than 500 employees. The company is targeting 15 GW capacity in operation or under construction by the end of 2025. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. For more information, visit: www.releasesolar.com.

About IFC: IFC - a member of the World Bank Group - is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit: www.ifc.org.

13 December 2021: Genius Watter innovative talent and commitment to the environment and social sustainability have been internationally recognized and celebrated at the prestigious AFSIA Solar Awards 2021.

Genius-RO, our solar-powered reverse osmosis desalination technology has won Genius Watter the "Solar Innovation of the year" award, while the Chairman and Co-founder of Genius Watter, Franco Traverso, has won the “Lifetime Achievement” award for his 40 years of experience in the solar sector and his significant long-term contribution to the development of the African solar industry.

Genius Watter has engineered and patented a battery-free modular desalination technology that can provide high volume clean water in off-grid areas by using exclusively solar energy. Genius-RO can successfully meet the water demand from the agriculture, tourism, health care and humanitarian aid sectors in water-stressed locations.

Click on the links below to find out more about the two awards and watch the awards ceremony at the Africa Energy Forum, held in London:

• Solar Innovation of the year - Genius-RO, solar-powered reverse osmosis desalination technology: https://www.geniuswatter.com/afsia-solar-awards-2021-solar-innovation-of-the-year/;
• Lifetime achievement - Franco Traverso: https://www.geniuswatter.com/afsia-solar-awards-2021-lifetime-achievement-award/.

• With this investment, Spark will support its last-mile distributors in supplying solar electricity to hundreds of thousands of low-income households over the next two years.

9 December 2021: Social impact investor Oikocredit is providing a credit line of € 2 million to Spark, a supplier of pay-as-you-go off-grid modular solar solutions and appliances. This credit line will support Spark’s plans to bring access to electricity to an estimated 500,000under-served households in sub-Saharan Africa.

With Oikocredit's support, Spark will be able to give low-income people in the Democratic Republic of Congo, Kenya, Malawi, Liberia, Mali, Niger, Nigeria, Senegal, Uganda, Zambia and others both access to clean energy and a path to ownership of off-grid solar products that can be extended to fit users' growing energy needs. Access to renewable electricity will support households in improving their living standards, increasing their earning potential and achieving lives of greater dignity.

Since its inception in 2013, Spark has pioneered and built innovative solar energy solutions. It has sold more than 75,000 energy kits to date, helping improve the lives of over 375,000 people and providing technical capacity building to 2,700-plus solar sales agents. Renewable energy generated by Spark's solar home systems over their product lifetime currently avoids approximately 200,000 metric tonnes of CO2 equivalent by replacing kerosene lanterns and diesel generators.

Bas Pijnenburg, Finance Director at Spark, said: "Cooperating with Oikocredit enables us to provide renewable electricity to significantly more homes and villages. Working with Oikocredit means we have a partner with a strong presence in the sector. Combining our strengths, we believe Oikocredit and Spark can lead the way towards a better, solar-powered future for under-served households and communities."

Siebren Wilschut, Investment Officer at Oikocredit, said: "We're very pleased to support Spark in its expansion to ensure access to energy and other technology services across Africa. We're proud to be partnering with Spark, a game-changer in the industry, and to support the company as it continues to scale up and increase its social impact by helping low-income people become healthier, improve their livelihoods and be better connected."

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About Spark: Solar-powered lives are future-proof lives. Spark delivers smart and simple solutions that are owned and operated by the people who need them most. Spark empowers emerging markets to take control of their energy needs with systems that are smartly distributed, viable and sustainable. This means that life doesn’t stop when the sun sets. Spark’s modular solutions make it easier for people to climb the energy ladder and allow small businesses to grow. For more information, visit: www.sparkenergy.io.

About Oikocredit: Social impact investor and worldwide cooperative Oikocredit has 46 years of experience funding organisations active in financial inclusion, agriculture and renewable energy.

Oikocredit's loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.

Oikocredit finances 527 partners, with total outstanding capital of € 876 million (at 30 September 2021). For more information, visit: www.oikocredit.coop.