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

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

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

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

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

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

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

About AMEA Power

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

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

Press contact:

Barbro Ciakudia

Business Development Manager

AMEA Power

T: +971 4 31 07 050

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

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

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

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

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

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

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

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

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

About AMEA Power

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

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

Press contact:

Barbro Ciakudia

Business Development Manager

AMEA Power

T: +971 4 31 07 050

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

MBAKAOU: CAMEROON'S FIRST SMALL PRIVATE HYDROELECTRIC POWER PLANT

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

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

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

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

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

About IED INVEST

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

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

About BGFI BANK

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

About FINERGREEN

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

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

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

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

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

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

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

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

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About the United States African Development Foundation (USADF)

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

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

About Nithio

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

About USTDA

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

MEDIA INQUIRIES: 

Dianne Quebral at (703) 875-4357

Evolution II Fund reaches final close at USD216 million.

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

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

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

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

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

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

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

Evolution II Fund’s investors include the African Development Bank,  CDC Group, Cyane Holdings Ltd, European Investment Bank, the Dutch Development Bank FMO, the Finnish Fund for Industrial Cooperation, the European Initiative on Clean, Renewable Energy, Energy Efficiency and Climate Change related to Development SICAV, SIF – Compartment Global Renewable Energy and Energy Efficiency Fund, Swedfund International AG, KLP Norfund Investments AS, Morgan Stanley Alternative Investment Partners, Swiss Investment Fund for Emerging Markets managed by Obviam and a US healthcare system. For more information, please visit www.inspiredevolution.co.za.

Enexus Finance acted as the lead financial advisor, in collaboration with Clairfield International.

28 August 2019 – BBOXX, a next generation utility, has successfully closed a $50 million Series D funding round. The financial milestone includes a substantial investment from Mitsubishi Corporation, a global integrated business enterprise headquartered in Japan, which led the round. The cash injection will further enable BBOXX’s international expansion and fuel its mission to use technology to unlock potential and transform millions of lives worldwide. BBOXX has positively impacted nearly one million people to date through access to pay-as-you-go (PAYG) solar energy using mobile money. The company has installed 200,000 solar home systems (SHS) which are remotely monitored via BBOXX Pulse™. This digital platform harnesses Internet of Things technology and data to provide utilities at a large scale. BBOXX has replicated this model to provide clean cooking solutions using LPG with ambitions to deliver other utilities and products in new markets. The investment from Mitsubishi Corporation will help drive BBOXX’s growth across Africa, where it currently operates in 12 countries, as well as in Asia.

Mansoor Hamayun, CEO and Co-founder, BBOXX, said: “The funding is further evidence of Japanese interest in Africa and in PAYG solar energy globally. Mitsubishi Corporation’s extensive reach, sector specific and technological expertise will help us to reach more people without reliable access to modern utilities and services at even greater scale.We look forward to this next phase of growth that will help us to transform more lives, unlock potential and grow our already global footprint by opening up new markets and develop further our product range.”

Mitsubishi Corporation’s deep rooted sector experience will help power BBOXX’s innovation-led development. The Power Solution Group currently owns and operates about 6,100 MW of net generation capacity globally as of 30th June 2019 including wind, solar and other types of renewable energy. It is active in areas that help to combat climate change and secure sustainable supplies of energy to support a transition to a low carbon society. The participants in the Series D round are ENGIE Rassembleurs d’Energies, which promotes access to sustainable energy for all and is affiliated to ENGIE Group; Luxembourg-based pioneering impact investor, Bamboo Capital Partners; DOEN Participaties, a Dutch impact investment fund supporting sustainable and social startups; and MacKinnon, Bennett & Company (MKB), a Montreal-based growth equity firm focused on the clean energy, transportation, and smart city sectors.

Mr Hamayun added: “Our Series D round is made up of investors spanning three continents and is a testament to how the global community is embracing sustainability. BBOXX provides the technology and the scalability that makes us a tool for development and brings us closer to meeting the United Nation’s Sustainable Development Goals (SDGs).”

The investment follows a string of deals and strategic partnerships including the $31 million investment from Africa Infrastructure Investment Managers in January. Last year EDF, the world’s leading electricity company, became a joint shareholder in BBOXX Togo with a 50% stake.

Enexus Finance acted as the lead financial advisor, in collaboration with Clairfield International.

“We are proud to participate in this landmark transaction, which arguably represents one of the most significant investments in the (off-grid energy) industry in Africa in the last few years” said Julien Lefilleur, Managing Partner of Enexus Finance.

About BBOXX

BBOXX is a next generation utility, transforming lives and unlocking potential through the provision of affordable, reliable and clean energy and other modern utilities. BBOXX is enabling economic development in off-grid communities by creating new markets through the entry point of electricity. Energy provision brings people into the digital economy and creates demand in other areas including – gas, water, internet and finance – a demand which the company also seeks to meet. BBOXX’s products and appliances all operate on BBOXX Pulse™ – a comprehensive management platform which harnesses data, pioneering technology and machine-learning, enhancing the customer experience. BBOXX is scaling rapidly by forging strategic partnerships with investors, governments, telecommunications firms and energy majors.

So far, BBOXX has deployed close to 270,000 solar home systems, of which 200,000 are remotely monitored via BBOXX Pulse™, positively impacting the lives of nearly one million people. BBOXX has over 800 staff across nine offices including in Rwanda, Kenya, the Democratic Republic of Congo and Togo, with its head office in the UK and its manufacturing operations based in China. In January 2019, BBOXX was announced as 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. You can find further information about BBOXX on its website at - http://www.bboxx.co.uk/

About Mitsubishi Corporation      

Mitsubishi Corporation is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business.

Mitsubishi Corporation has built a network to drive its next phase of major growth by constantly enhancing its ability to respond to change in tandem with fostering collaboration through the efficient and effective roles among Mitsubishi Corporation offices and subsidiaries, group companies and the head office.

Mitsubishi Corporation has a network of 171 overseas operations comprising 98 offices, 40 subsidiaries headquarters, and 33 branches all over the world to drive its next phase of major growth by constantly enhancing its ability to respond to change.

About Enexus Finance

Enexus Finance is a corporate finance firm specialized in middle-market transactions in Africa. Enexus Finance provides M&A and fundraising services to African and international companies willing to expand in Africa. Enexus Finance also advises financial investors, including private equity and debt funds, banks, institutional investors, family offices, international impact investors, and development finance institutions (DFIs). Enexus Finance operates from its offices in Paris and Abidjan – https://www.enexus-finance.com/.

About Clairfield International

Clairfield International is a partnership of leading corporate finance firms around the world, providing advisory services on middle-market transactions for large companies, private investors and private equity, public sector clients, and family businesses. Clairfield is headquartered in Europe with locations in every major region worldwide. Clairfield ranks as one of the top independent M&A advisors in the Thomson Reuters league tables.

REDAVIA, a global market leader of cost-effective, reliable and clean solar power for businesses and communities, has launched a crowdfunding initiative to fund 10 upcoming solar Units in partnership with Lendahand, an online impact investing platform where socially conscious investors can invest in entrepreneurs and sustainable initiatives in emerging countries.

The innovative REDAVIA pay-as-you-go system consists of a pre-configured Unit containing high-performance solar modules and high-quality electrical components. It is easy to ship, set up, scale and redeploy. REDAVIA's flexible lease agreements provide customers with a cost-effective, reliable, and clean energy solution and the operational adaptability to market changes.

To date, REDAVIA has installed 21 solar Units and contracted 25 further solar Units at diverse businesses in Ghana. With a €500,000 first funding tranche from Lendahand's crowdfunding platform, REDAVIA will pre-finance, procure, import, and install 10 more solar Units of 84 kWp each at commercial and industrial (C&I) customer sites in Ghana, impacting a total of 15,000 employees and other stakeholders. This is the first of up to 10 tranches that REDAVIA intends to raise on the Lendahand platform, totaling €5,000,000 over the coming years.

"Anytime there's a chance to contribute to true innovation in the solar sector in Africa, we get excited by the opportunity to enable our crowd to be a part of it,'' stated Tobias Grinwis, Head of Investments of Lendahand. ''The opportunity to support the pioneering work REDAVIA is doing to support businesses, create jobs and improve people's lives through their solar farms is something we're incredibly proud to be a part of."

"Access to affordable and clean energy in the commercial and industrial sector is paramount to the sustainable development of a country," stated Erwin Spolders, CEO and Founder of REDAVIA. "As REDAVIA continues to grow, we are excited to see support from crowdfunders who want to promote the social and environmental benefits of our work."

About Lendahand

Lendahand is the leading online impact investing platform from Europe where socially conscious investors can invest in entrepreneurs and sustainable initiatives that contribute to the SDGs in emerging countries. Lendahand aims to create a world-wide initiative through which people from all over the world can provide fair and transparent financial support to entrepreneurs in emerging countries. Lendahand will provide structurally sound propositions that will focus on lowering the interest rates presented to entrepreneurs. Find out more on https://www.lendahand.com/en-EU

About REDAVIA

REDAVIA offers solar power for businesses and communities in West and East Africa. The REDAVIA system is based on a pre-configured model, including high-performance solar modules and electrical components. It is easy to ship, set up, scale and redeploy. Businesses and communities benefit from a cost-effective, reliable, clean energy solution with minimal upfront investment or technical skills. Find out more on www.redaviasolar.com

Press Contacts:

REDAVIA

Gabriella Zeugin

+49-89-2426-8869

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RBrian Warshawsky, co-founder and current COO of Fenix to succeed the current CEO, Lyndsay Handler.

Jit Bhattacharya, CTO, and Chris Bagnall, Group Marketing Director, step down from the company with succession plans in place. New CFO appointed and Head of Credit position established alongside new Chief Commercial Officer, Junior Zerebela Kwebiiha, within executive team.

Fenix International, a company of ENGIE, offering solar home systems across Africa, has appointed co-founder and current COO Brian Warshawsky to the role of CEO to drive the next phase of the company’s ambitious growth plans. Warshawsky is succeeding Lyndsay Handler who has been with the company for 7 years and served as CEO since 2016. Warshawsky is well-placed to lead the company, having previously spent 5 years at Apple as part of the iPod Operations team before co-founding Fenix International in 2009. Having worked as COO with Fenix from inception, Brian has a deep understanding of the business from product design to manufacturing, country operations, distribution and last-mile customer experience.

Ivan Topalov, who previously served as Corporate Finance Director, has been promoted to Chief Financial Officer following the departure of the previous CFO, Josh Romisher, in June. The company has also appointed a new Head of Customer Credit, Alison Boess, reporting to the CEO.

Yoven Moorooven, CEO of ENGIE Africa, said, “Brian is a highly regarded leader with the right mix of skills and experience to lead this new chapter for Fenix as we continue to establish ourselves as the market leader across Africa. With commercial operations in Uganda, Zambia, Ivory Coast, Nigeria, Benin and Mozambique, Fenix is growing from strength to strength. Under Brian’s leadership I’m incredibly excited for the future of our decentralized energy offering in Africa.”

He continued, “I join everyone at ENGIE and the Fenix team in thanking Lyndsay, Jit and Chris for their many years of dedicated service and commitment to the Fenix mission. Under their leadership, Fenix transformed millions of lives across the continent and built an inspiring team that is driven to succeed.”

Brian Warshawsky, newly-appointed CEO, commented, “While it is difficult to say goodbye to such incredible colleagues and collaborators through so many years, I’m proud to be able to continue their legacy. On behalf of the Fenix team I would like to thank Jit for his technology leadership and the work he did to build Fenix Power, our next generation solar home system platform.  I would like to thank Chris for his commercial and marketing leadership as Fenix grew from a few customers in Uganda to 500,000 customers across 6 countries in Africa. And I would like to especially thank Lyndsay for leading Fenix through so many milestones, most recently the ENGIE acquisition and establishing Fenix as the strongest off-grid solar home system company in the industry.” 

He added, “Backed by a world class product, a world class team and with the full support of ENGIE, I am excited for what we will do to take our life-changing product to customers across the continent. We are now set for an exciting future as we continue our expansion across Africa and achieving universal energy access for all.” 

Lyndsay Handler added, “Building Fenix from 2011 to 2017 and accelerating our growth following the acquisition by ENGIE in 2018 has truly been an honour. Together, we have delivered clean, affordable energy to over 500,000 households or 2.5 million people in six countries across Africa.  I am especially proud of the way we built a passionate Fenix team based in Africa who are deeply committed to our mission, values, and customers.  Looking ahead, I am happy to pass the torch to our co-founder Brian and I am confident that the entire team will put the customer first in all that we do in Fenix’s next chapter.  I hope that Fenix will continue to create new products and drive forward innovation so that clean energy is affordable to all at the last mile.” 

About Fenix International

Fenix International’s mission is to transform customers’ quality of life through disruptive innovation in energy and financial services. Fenix has sold over 500,000 solar home systems, bringing clean, reliable power for lights, phones, radios, TVs and more to over 2 million people. Fenix is fully owned subsidiary of ENGIE, one of the world’s largest energy companies and a leader in the move to renewable, decentralised and digital energy. Already the market leader in Uganda and Zambia, Fenix has expanded into new markets – Benin, Côte d’Ivoire, Nigeria, Mozambique – and continues to work towards providing more affordable, inclusive, and income-generating products. Within ENGIE Africa, Fenix is making universal access to modern energy a reality. 

About ENGIE Africa

For over 50 years, ENGIE has been active in many African countries through its energy engineering business and more recently as an independent power producer in South Africa and Morocco with a total capacity of 3,000 MW either in operation or under construction. By 2025, ENGIE wants to be a reference partner in several African countries for power plants, energy services to businesses and decentralized solutions for off-grid customers – communities, companies and households. ENGIE already has more than 2.5 million customers with domestic solar installations and local microgrids,and aims to become one of the viable leaders on the continent’s off-grid service market. For more information, go to www.engie-africa.com. 

About ENGIE

Our group is a global reference in low-carbon energy and services. In response to the urgency of climate change, our ambition is to become the world leader in the zero carbon transition “as a service” for our customers, in particular global companies and local authorities. We rely on our key activities (renewable energy, gas, services) to offer competitive turnkey solutions. 

With our 160,000 employees, our customers, partners and stakeholders, we are a community of Imaginative Builders, committed every day to more harmonious progress.

Turnover in 2018: 60.6 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris – World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).

Fenix press contact:

Allegra Fisher

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Lome, Togo 18th July 2019 – The Third Regional Off-Grid Electrification Project (ROGEP) has opened in the Togolese capital Lome. The theme of the convergence is ‘Strengthening Partnership for an Accelerated deployment of Standalone Solar Systems in West Africa and the Sahel’.  The conference marks the launch of the implementation phase of ROGEP, which was approved by the World Bank on April 17, 2019.  The two-day forum brings together a diverse group of stakeholders in the energy sector from 19 project countries mainly from ECOWAS member states and the Sahel.

ROGEP is one of ECOWAS Community development projects designed to increase electricity access of households, businesses, and communities using modern stand-alone solar systems (such as solar lanterns, solar home systems, solar water pumps, solar mills, and solar sewing machines) through a harmonized regional approach, supported by the World Bank Group, Lighting Africa and the Clean Technology Fund, implemented by ECREEE and BOAD.

The statement by the Togolese Minister of Energy and Mines Marc Ably Bidamon at the opening ceremony was delivered on his behalf by his director of Energy, Dr. Tchapo Akassewa Singo.  Minister Bidamon underscored the importance of energy security in member countries noting that provision of energy services will help to spur sustainable development, growth as well as job creation.  He therefore urged participants to take the conference seriously and come up with workable recommendations for effective implementation phase.

In her statement, the Resident Representative of the World Bank in Togo, Ms. Hawa Wague pointed out that access to electricity is central to any development program and that the World Bank is committed to partner with ECREEE to successfully implement the ROGEP project.  This she said will help to make a big change in the lives of ordinary citizens in the countries covered by the project.

Also speaking on the occasion, the special adviser to the President of West African Development Bank (BOAD), Christophe Agueggy informed participants that the ROGEP project will promote renewable energy in areas not covered by the national grid. Mr. Agueggy spoke about the importance of energy and the excellent partnership between BOAD, ECREEE and the World Bank, which he said will help to spur development in member countries.

Speaking earlier, the Executive Director of ECREEE, Mr. Mahama Kappiah reminded participants that the objective of ROGEP is to eradicate energy poverty through the development of a viable business ecosystem for the rapid deployment of standalone solar systems in the project countries. ECREEE boss disclosed that ROGEP also seeks to provide financial support to entrepreneurs in this line of business, and reduce risk to businesses that embark on these new technologies and business models.

Mr. Kappiah informed the meeting about some of the remarkable achievements of ROGEP since its landmark lunch in 2017 in Dakar, Senegal. Some of these included national stakeholder consultations in the project countries, two regional meetings during which common grounds for the implementation of the project were defined and adopted. He also said that in addition, a Market Assessment was conducted and regional standards for Solar Home Systems adopted by the ECOWAS Committee meetings held recently. Mr. Kappiah said that pilot projects are already underway in Niger and Nigeria to assess the potential of providing energy services to public institutions such as schools and hospitals.

The Executive Director thanked the World Bank and Clean Technology Fund for financing the initiative, which he said will help to address energy access deficit in the project countries. The project he said, will offer support to governments, standard bodies, the private sector, commercial and financial institutions and end users along the value chain to make this project a success. In what appears to be a frank and convincing statement Mr. Kappiah also informed development partners that ECREEE has the capacity and the team to take on more of such projects and therefore appealed for partnership to improve access to energy services in the ECOWAS region and the Sahel.

It would be recalled that ROGEP was launched to focus on supporting and developing viable business ecosystems in the project countries through a regional-level initiative. In a bid to develop a regional market, the project will identify policy barriers affecting the growth of the stand-alone solar market.  It will also create awareness within the government policymakers on the benefit of removing such policy barriers, as well as provide targeted support for barrier removal in challenging markets.   The project will also help the countries adopt the Common External Tariff (CET) to facilitate cross-border trade of stand-alone solar products.  It will also develop regional standards on quality assurance (QA) framework of stand-alone solar products to facilitate supply of eligible products across the 19 project countries. 

The project will endeavor to build human capital by providing training to develop adequate and required skills through a structured entrepreneurship development facility, which will ensure reliable service to the beneficiaries and will create employment opportunities at the local level.  It will provide access to finance to solar companies and to beneficiaries in this new line of business, and provide financial support to entrepreneurs; and reduce risk of promoting new technologies and business models.

The ultimate project beneficiaries will be the people currently living without access to electricity connection or living with unreliable electricity supply within the 19 ROGEP countries and the project has an ambitious target of providing electricity services to about 1.7 million people of which about half would be female.

London, U.K., July 15, 2019 — JinkoSolar Holding Co., Ltd. (the “Company,” or “JinkoSolar”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that it was recognized for augmenting solar PV efficiency in a cost-effective manner with the Frost & Sullivan 2019 Global Solar PV Technology Leadership Award.

After extensive analysis of the global solar PV market, Frost & Sullivan recognized JinkoSolar for its leadership in developing and leveraging solar technologies that offer significant customer value.

"JinkoSolar’s unwavering focus on technology and innovation has propelled it to the top of the global market," said Mr. Gautham Gnanajothi, Global Research Director of Frost & Sullivan. "It launched the solar industry’s first 158.75 big wafer which is embedded into its flagship Cheetah series that are up to 410 watt. Today, Cheetah modules are broadly being applied to utility, commercial and residential segments all across the world. JinkoSolar’s technologies have helped facilitate the transition for developers and investors from a focus on price towards performance. The size of the 158.75 big wafer has now become the new industry benchmark and is setting the standards for the future. This award is in recognition of JinkoSolar’s capabilities to develop and commercialize advanced technologies that serve as a cornerstone for establishing industry standards.”

“JinkoSolar clearly understands the high-standards global customers require thanks to its expansive global presence. JinkoSolar is poised to lead the industry into the next-generation of solar PV technology. Its Cheetah product portfolio, commitment to sustained innovation, and track record of successful commercialization of new technologies present a strong case to establish it as a vendor of choice in the post-subsidy era.”

“We are extremely honored to have been recognized with this prestigious award by Frost & Sullivan,” commented Mr. Kangping Chen, CEO of JinkoSolar. “Leveraging the extensive experience we have acquired through our global operations, we have developed significant competitive advantages and the ability to rapidly commercialize new products. We are ideally positioned for the post-subsidy era where investors and developers are shifting their focus towards high-performance technologies that make every dollar invested count rather than relying on subsidies.”

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, collaborates with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that could make or break today's market participants. For more than 50 years, Frost & Sullivan has been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. 

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 10.5 GW for silicon wafers, 7.0 GW for solar cells, and 11.0 GW for solar modules, as of March 31, 2019.

JinkoSolar has over 13,500 employees across its 7 productions facilities globally, 15 oversea subsidiaries in Japan, Korea, Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia and United Arab Emirates, and global sales teams in China, United Kingdom, France, Netherlands, Spain, Bulgaria, Greece, Romania, Ukraine, Jordan, Saudi Arabia, Tunisia, Egypt, Morocco, Nigeria, Kenya, South Africa, Costa Rica, Colombia, Panama and Argentina.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Ms. Ripple Zhang

JinkoSolar Holding Co., Ltd.

Tel: +86 21-5183 3105

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Absolute Energy together with EnDev Rwanda celebrates the official launch of a hybrid mini-grid in Gatsibo district

Rwanda, May 16 2019 – Absolute Energy (AE) with the support of EnDev Rwanda, implemented by GIZ, celebrated the official launch of their 50kW solar PV and storage hybrid mini-grid in Rutenderi Village, Gatsibo district, Rwanda.

The walking tour and ribbon cutting ceremony in the mini-grid site marked the beginning of the official commissioning. It was followed by a walking tour where participants had the chance to see the installation and chat with some of the beneficiaries. Representatives from AE, EnDev Rwanda, Urwego Bank as well as local authorities gave speeches explaining their role in the design and implementation of the solar hybrid mini-grid. The governor of Eastern Province Mr. Fred Mufulukye attended as the guest of honor to the launch.

The 50kW mini-grid in Rutenderi was completed by AE in December 2018 and started running in January this year. This mini-grid has successfully connected 457 households, 36 businesses and 7 social institutions, following a holistic approach that integrates electrification with other rural development projects that stimulate demand and business incubation, ensuring the long-term sustainability of the project.

Rural electrification that helps boost entrepreneurship

During welcome remarks, AE CEO Alberto Pisanti declared: “our mission is to deliver productive energy to empower sustainable development […] If we do not ensure that the energy we deliver is used to increase productivity, to put our customers on a path to prosperity and improve their lives, we are missing the real opportunity here: the positive transformation of our customer base, our community”.

EnDev Rwanda Country Manager Phillippe Lempp, stated: “we are very happy to support Absolute Energy in the official commissioning of the Rutenderi minigrid. It is precisely this kind of project that bring up life prospects to families who need it the most, that motivate us to work every day […] I also want to take the opportunity to highlight the key role played by DFID, who is the main donor of the Results-Based Financing Facility in Rwanda”.

EnDev has technically and financially supported this project through its Results-Based Financing (RBF) Village Grid project. The RBF is an incentive payment scheme that supports private sector market actors in the low-carbon off-grid energy sector in developing countries.

The Government of Rwanda (GoR) aims to provide universal electricity access to all Rwandan households by 2024, but the investment requirements to meet this goal are enormous. To overcome this hurdle, the GoR together with development partners and the private sector are working towards increasing both grid and off-grid electrification efforts.

About the developer

Absolute Energy is an independent investment platform fully dedicated to renewable energies, with an aggregate track record of over 3 GW developed in different renewable energy technologies (solar PV, CSP, wind, biomass and hydro) throughout Europe. Since 2013, the company has established a presence in Africa, with two hybrid solar mini-grids in Kitobo and Bukasa islands in Lake Victoria, Uganda, and two in Rwanda, in Rutenderi and Gatoki, and continues to explore other opportunities across the continent. AE believes that technological advances and the modularity of the solar technology are making de-centralised models the most sensible alternative today, allowing electrification at a faster pace and at a fraction of the cost of a grid extension.

13th May 2019 / Amsterdam, the Netherlands

AMMP Technologies B.V., the pioneer in operational software solutions for off-grid energy in emerging markets, recently secured a funding round from a consortium of angel investors. This funding will enable the company to further accelerate growth in Sub-Saharan Africa and beyond.

As Dr. Svet Bajlekov, co-founder and CEO puts it: "We’ve seen first-hand how connectivity and access to data-enabled services can really power growth in off-grid energy. At AMMP we work with one of the most comprehensive data sets in the sector, and can see this adding value not just in technical operations but across the value chain. We are excited to be at the forefront of the energy transition in some of the world’s most dynamic markets!”

AMMP Technologies works with off-grid energy companies to help advance their operational and commercial objectives. As a basis, AMMP enables clients to streamline their technical operations and reduce the costs of working in challenging and remote environments. In addition, the solution enables innovative business models in the fast-growing energy service space.

The team behind AMMP builds on a rich set of experiences in the off-grid sector. The founding team began their work together at Rafiki Power, a former E.ON company, deploying and operating mini-grids for rural electrification in Africa. Having experienced first-hand the challenges of operating off-grid energy systems in remote environments, they saw huge potential value in bringing together operational data across multiple vendors, technologies, and locations onto a unified platform.

In Q3 of 2018 AMMP Technologies entered Rockstart’s Smart Energy accelerator program in the Netherlands, and soon after E.ON’s :agile accelerator in Germany. Since then things have moved fast: AMMP is now running over 200 renewable off-grid systems across five continents, with sustained double-digit month-on-month growth.

The new investor team brings on board highly distinguished expertise in smart energy, utilities, telecom, scaling start-ups, and emerging markets. One of the investors, Peter Molengraaf, former CEO of the Dutch distribution grid operator Alliander, summarizes his reasoning: “A few years ago I met the late Kofi Annan, and got a question from him: ‘To how many people, that do not have regular access to electricity, did you bring electricity last year?’ At that time I didn’t have a good answer. Today, I can see how this investment will help enable off-grid electrification in many parts of the world. AMMP are tackling a core aspect of the sector’s challenges, with a team that’s been in the trenches”.

AMMP Technologies B.V.: AMMP is a vendor-agnostic operations solution for portfolios of offgrid, mini-grid, and grid-edge energy assets. AMMP enables data-driven operational excellence and novel business models in the energy space, with a focus on emerging markets.

 RECOM expands solar operations in France, moves headquarters to Lannion

Lannion/France - RECOM, Europe’s largest solar manufacturer, reinforces commitment to the growing French market by increasing manufacturing capacities and investments. Hamlet Tunyan, founder and CEO of RECOM, says: “We’re happy to contribute to France’s goal to become Europe’s leader in solar power. “France is supporting solar deployment, manufacturing, and R&D in an exemplary way. The combination of ambitious targets and strict requirements on sustainability and technology are all strong motivators for us to invest in the country ".

RECOM already has a substantial presence in France. In 2017, RECOM acquired the PV module manufacturing facility SILLIA in Lannion, Brittany (currently RECOM-SILLIA) and is about to increase the facility’s capacity from 50 to 300 MW. RECOM modules produced in France meet French specifications for exceptionally low carbon footprint.

RECOM also aims to develop 1GW solar projects in France alone over the next few years. Late last year, RECOM-SILLIA was awarded, through tenders, a cumulative 150 MW projects throughout France, 45 MW of which is already under construction and will be completed mid-2019.

Additionally, RECOM has now decided to move its headquarters to Lannion, France.

RECOM runs manufacturing activities in several countries and sales offices in Europe, the Americas, Asia, and EMEA regions. The company is committed to make clean energy the source for all electricity, mobility and smart infrastructure of the future. RECOM manufactures in Europe and cooperates with manufacturers around the world to achieve cutting edge quality solar modules to satisfy the needs of our customers. All RECOM PV modules have long term warranties. The founding motto of RECOM, the REnewable Energy COMpany is: " It’s our generation that can change the world.".

The new Fund launched by the group will boost education, health and community projects in Kenya, Tanzania, Mozambique and Malawi, impacting the lives of 55,000 people.

EDP will support six sustainable and clean energy projects in East Africa through the A2E (Access to Energy) CSR Fund. In this first phase, 450 thousand euros will be applied to promote access to energy in remote rural areas without connection to the electricity grid, aiming to alleviate energy poverty in developing countries. These initiatives will impact 55 thousand people, of whom ten thousand will be impacted directly.

In total, 108 entities from around the world applied for the first edition of the Fund oriented for projects in Mozambique, Kenya, Tanzania and Malawi. The selected institutions, according to criteria such as social impact, partnerships, sustainability, potential for expansion and number of beneficiaries, work in the areas of education, health, water and agriculture, business and community, each one received financial support ranging from 25 thousand to 100 thousand euros and committing to implement their projects by the beginning of next year.

In Kenya, the Co-operative Bank Foundation and SAVIC Africa were selected. In Mozambique, support was given to UN-Habitat and Girl MOVE. In Malawi, the Energía Sin Fronteras Foundation was chosen and, in Tanzania, the Sustainable Investment and Development Initiative.

"This initiative reinforces once again EDP group's commitment to contributing to a more sustainable society, giving priority to the mitigation of electrical exclusion that still affects more than one billion people worldwide. Access to energy has the potential to play a revolutionary role in emerging countries, being an essential tool for a society to foster opportunities and equality", says António Mexia, president of EDP.

In addition to supporting social responsibility activities through this Fund, which has a global allocation of EUR 1 million and is expected to launch the second edition by the end of this year, EDP Group's A2E strategy also foresees the investment of EUR 12 million over the next three years in companies with sustainable solutions for universal access to energy. This bet was already materialized in 2018, with the first investment in the sector: the acquisition of a stake in SolarWorks!, a company with operations in Mozambique and that is dedicated to the commercialization of decentralized solar energy solutions.

Information on supported projects

The Co-operative Bank Foundation will install solar greenhouses with power of up to 100 kWp in irrigation systems in 12 schools in Kenya to ensure that there will be adequate supply of food throughout the year. In addition to access to energy for 6,000 people, the crops will be used to meet the nutritional needs of students, while the surplus will be sold in local markets enhancing agribusiness skills of students.

SAVIC Africa's OKAPI Green Energy project will build a 12 kWp photovoltaic mini-grid at Kakuma Refugee Camp in Kenya, with smart metering technology to provide electricity to 150 homes and 50 commercial clients, totaling 800 direct beneficiaries and 18,000 indirect ones. The goal is to improve access to health, education, income generation and entrepreneurship training.

The Girl MOVE Academy's "Energy for a Better Future" program will create a 30 kWp solar energy plant for ECOCampus and the institution's IT center in Mozambique, with the aim of increasing the number of training hours and contributing to the development of a new generation of female leaders.

UN-Habitat will build solar energy systems to supply 12 classrooms at two schools affected by natural disasters in Mozambique. In addition to promoting access to education for 1300 people, the initiative also covers the installation of emergency alert systems, internet access and charging stations, which could generate revenue for schools.

Energía Sin Fronteras Foundation will offer 25.9kWp photovoltaic panels to provide electricity for each of the five buildings at St. Mary's Rehabilitation Center in Malawi will be able to provide 24-hour medical care and clean water to 130 orphans with HIV as well as for outpatient and educational care for other children and for the elderly in the community. The project will impact a total of 2,800 people.

The Sustainable Investments and Development Initiatives (SIDI) will also allow 1500 fishermen and commercial and public facilities to access energy through a 10 kWp photovoltaic mini-network that will enable the generation, storage and distribution of power to a remote island in Tanzania, aiming to reduce poverty and to increase the annual income of this fishing community by 50%.

• The Government of Madagascar is aiming to double the country’s electricity production by the year 2030 and to increase the electrification rate from the current 15% to 50%. The additional power should come mainly from renewable energy sources.
• The RLSF will play a vital role by bringing the public and private sectors together to boost the success rate of more renewable energy projects in Madagascar
• The RLSF will not only protect Independent Power Producers (IPPs) in Madagascar against the risk of delayed payments by the public off-taker, the National Water and Electricity Company of Madagascar - JIRAMA, but will also increase the success rate of renewable energy projects as it will help reduce the cost of project financing.

ANTANARIVO, 15 April 2019 – At a signing ceremony held today, the Government of Madagascar and the African Trade Insurance Agency (ATI) signed an agreement that allows Independent Power Producers (IPPs) in the country to now access the Regional Liquidity Support Facility (RLSF). With the help of the Facility, the Government of Madagascar is hoping to develop its renewable energy sector.

RLSF is a joint initiative of ATI, and KfW with funding from the German Federal Ministry for Economic Cooperation and Development (BMZ) with initial capacity of USD 63.2 million. Under the program, RLSF provides insurance protection to new small and mid-sized renewable energy projects (up to 50 MW and possibly 100 MW under exceptional circumstances) in Sub-Saharan Africa. RLSF focuses on small and mid-sized projects because they are widely seen as a more efficient way to rapidly increase energy access across Africa due to their ease of implementation and cost effectiveness.

RLSF will protect the IPPs in Madagascar against the risk of delayed payments by the public off-taker, the National Water and Electricity Company of Madagascar - JIRAMA. This type of guarantee is a common requirement from lenders that fund projects. Many renewable energy projects have failed to access funding and in turn reach financial close because this type of guarantee was not available. RLSF hopes to change this by providing the required guarantee in cooperation with the Letter of Credit issuing bank, ABSA Bank Ltd for an amount equivalent of 3 to 6 months’ worth of the IPP’s revenue generated from the power plant. This arrangement removes the financial burden from national utilities, such as JIRAMA, that are often asked to provide such liquidity protection.

Madagascar becomes the 6th country to sign onto RLSF joining Benin, Burundi, Malawi, Uganda and Zambia. RLSF was launched in 2017 as part of a global push, led by the UN’s Sustainable Energy for All initiative, to create viable green energy solutions in order to reduce harmful carbon emissions.

QUOTE from Hon. Vonjy Andriamanga, Minister of Water, Energy and Petroleum, Madagascar

“Specifically, the government plans to increase access rates and to fully exploit its renewable energy potential by targeting hydro, solar, wind and biomass resources. For instance, the northern and southern regions of the country have a potential renewable energy capacity of about 7,800 MW for electricity production of which only 2% of it is currently utilized. RLSF is an important tool in supporting the development of energy projects that will help the government achieve its strategic objectives in line with the Energy Performance Contract. Under this Contract, the government aims to increase the national electrification rate to 50% by 2030 largely thanks to renewable energy sources.”

QUOTE from His Excellency, Herald Gehrig, German Ambassador to Madagascar

“In line with the development cooperation program “Sustainable Power Supply”, GIZ and KfW are working together to reduce such challenges. The Technical Cooperation focuses on the improvement of framework conditions for investments in renewable energy so as to attract investors while the Financial Cooperation compliments the private sector capital with grant funding. This hedging of investment risks through RLSF, thanks to our partnership with ATI, offers a valuable solution for Malagasy IPPs. Further, through the PERER Project (Promotion of Rural Electrification through Renewable Energy), GIZ will support the Ministry of Finance with a financing contract of 3.9 million Euros to supplement the funds raised. This is an additional solution to help mitigate risks of renewable energy projects.”

QUOTE from Toavina Ramamonjiarisoa, Chief Financial Officer, ATI

“We are hopeful of opening up great opportunities for the private sector by offering such instruments to circumvent financing hurdles and thus mobilize capital in the renewable energy sector. This partnership with the Government of Madagascar through the RLSF perfectly illustrates our mandate – to help our member countries create an enabling environment for investors by supporting their strategic development objectives. In this specific case, these government objectives include among other things, the increase of the national electrification rate, the energy transition towards renewable energy sources and the strengthening of the public-private partnership. We also hope that this important step is only the beginning of cooperation between Madagascar and ATI that we wish to extend to other strategic sectors of the country.”

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Press Contact:

Ekira Nyaga

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Mob. +254 719 014 259

Press release 2019/15/04/Antanarivo

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Note to Editors:

About KfW

KfW is one of the world´s leading and most experienced promotional banks. Established in 1948 as a public law institution, KfW is 80 per cent owned by the Federal Republic of Germany and 20 per cent by the federal states (“Länder”).

KfW Development Bank is Germany’s leading development bank and an integral part of KfW. It carries out Germany´s Financial Cooperation (FC) with developing countries on behalf of the Federal Government. The 600 personnel at headquarters and 370 specialists in its 68 local offices cooperate with partners all over the world. Its goal is to combat poverty, secure the peace, protect the environment and the climate and make globalisation fair. KfW is a competent and strategic advisor on current development issues.

www.kfw-entwicklungsbank.de

About The African Trade Insurance Agency

ATI was founded in 2001 by African States to cover the trade and investment risks of companies doing business in Africa. ATI provides Political Risk, Surety Bonds, Credit Insurance and Political Violence and Terrorism & Sabotage cover. As of YE 2017, ATI has supported USD35 billion in trade and investments across Africa in sectors such as agribusiness, energy, exports, housing, infrastructure manufacturing, mining and telecommunications. Since 2008, ATI has maintained an ‘A/Stable’ rating for Financial Strength and Counterparty Credit by Standard & Poor’s.

www.ati-aca.org 

5th April 2019: GridX Africa Development, in association with Solar Africa, has completed a state-of-the-art solar-battery system at Singita Faru Faru Lodge, in the western corridor of the Serengeti, Tanzania. The new energy system replaces existing diesel generation, with 90% of power to the lodge now sourced from renewables. The solar-battery project is the first of its kind in Tanzania and the first Tesla battery commissioned in Tanzania. 

Solar Africa provided upfront financing and the system is being managed by GridX Africa and Solar Africa as part of a holistic operations and maintenance program. The system is entirely off-grid and provides a reliable 24/7 power solution for Faru Faru’s operations. 

The installation comprises 189 kWp of ground-mounted solar PV integrated with 174 kW / 522 kWh Tesla PowerPack. Tesla’s battery system in this project is a prime example of how battery technology can be combined with renewable power generation to provide a long-term energy security solution at an economically viable cost. 

Chalker Kansteiner, founder of GridX Africa, said: “GridX Africa is very pleased to have led the development of the Faru Faru project - providing a positive outcome for our client, the environment, and the commercial and industrial power industry in the region.” 

Faru Faru’s solar-battery system displaces over 100,000 litres of diesel each year, reducing annual diesel power generation costs through decreased fuel consumption, logistics, and generator maintenance cost savings. The completion of this system highlights the complete alignment between conservation, tourism, and renewable energy, based on all parties’ shared vision for sustainable outcomes. 

The solution provided by GridX Africa supports Singita’s commitment to sustainability and reinforces its position as a leading conservation brand.  Singita’s single-minded 100-year purpose is to protect and preserve large areas of African wilderness for future generations. 

Luke Bailes, CEO and Founder of Singita, said: “Sustainability – operating in an environmentally conscious way at every level of the business – is a key component of conservation success, alongside maintaining the integrity of our reserves and their ecosystems, and working with local communities. The health and survival of each of these is crucial to the survival of the whole.” 

GridX Africa develops, finances and operates solar projects throughout sub-Saharan Africa, with more than five additional projects expected to be completed during 2019 for clients in a range of sectors. .

ABOUT GRIDX AFRICA:

GridX Africa’s mission is to implement sustainable power systems that address Africa’s unmet energy demands, helping to unlock the continent’s potential by providing African companies with reliable and economically efficient power alternatives. Utilising new approaches to power supply issues and marrying development, conservation and business are key to the work of GridX, contributing to solving energy and environmental issues not only in Africa, but across the world.

GridX Africa also aims to have a positive impact on local communities and the environment, for example through skill transfer programs, catalysing investment and job creation.

www.GridXAfrica.com

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