ACWA Power, Saudi Arabia’s renewable energy leader, has announced plans to construct, own, and operate a 2GW wind power plant in South Hurghada, Egypt, which is expected to provide electricity to nearly 2 million homes. The project, valued at SAR 8.6 billion ($2.3 billion), is backed by a 25-year power purchase agreement (PPA) with Egypt’s state-run Electricity Transmission Company. ACWA Power aims to reach financial close on the project by next year, pending the completion
Neosun Energy has secured a contract with Palisades Business Park to install a solar power system at Jetpark in Johannesburg, South Africa. The project aims to reduce grid electricity consumption and lower operational energy costs**. The grid-tied solar PV system will feature 1,380 Longi 580W N-type panels, providing an 800 kWp installed capacity. Designed for maximum efficiency, the system is expected to generate approximately 1.347 GWh of clean energy annually, offsetting nearly 55% of Jetpark’s
Electricity generation from solar parks in Mozambique increased by 18.6% in 2024, yet it still accounts for less than 1% of the country’s total production, according to official data reviewed by Lusa. The budget execution report for January to December 2024 shows that solar power production from five large solar parks and smaller plants exceeded 101,247 megawatt-hours (MWh), up from 85,343 MWh in 2023. However, the government’s target of 138,808 MWh for the year was
French asset managers Rgreen Invest and Echosys Invest have successfully closed their Afrigreen Debt Impact Fund, securing €100 million ($104.8 million) in total commitments for green energy investments across Africa. Announced on Thursday, the fund has met its funding target, backed by major institutions, including the European Investment Bank (EIB), the International Finance Corporation (IFC), Dutch development bank FMO, France’s Proparco, Societe Generale, and BNP Paribas. Following its first close in early 2023, the fund
The International Finance Corporation (IFC) has joined forces with five distributed renewable energy (DRE) companies to expand mini-grid projects across Nigeria, aiming to address the country’s electricity access gap and accelerate its transition to sustainable power solutions. The agreement was formalized on Monday at the Mission 300 Africa Energy Summit in Dar es Salaam, where IFC partnered with Havenhill Synergy Ltd., Prado Power Ltd., PriVida Power Ltd., Sosai Renewable Energies Ltd., and Virtuitis Solaris Ltd.
French infrastructure fund Meridiam has joined forces with the European Bank for Reconstruction and Development (EBRD), Hassan Allam Utilities (HAU), and Saudi-based ACWA Power to develop a €1 billion wind energy project in Egypt, poised to become Africa’s largest. Spanning two sites in the Gulf of Suez desert, the wind farm is expected to generate 1,100 MW of power upon completion in 2027. This aligns with Egypt’s renewable energy target to increase renewables to 42%
The long-awaited Quilemba Solar project is poised to begin in 2025, following a recent agreement signed between Sonangol Gas & Energias Renováveis, TotalEnergies, and GreenTech. The consortium finalized an Addendum to the Complementary Technical Parts of the Energy Acquisition Agreement (CAE) with the National Electricity Transport Network (REN), enabling construction to commence. Located in Quilemba, Lubango, in Huíla Province, the project will establish a photovoltaic solar power plant with an initial capacity of 35 megawatts
Namibia has unveiled plans to procure and implement 330 megawatts (MW) of solar photovoltaic (PV) capacity as part of its 2024 ministerial determination, the Ministry of Mines and Energy announced. According to Minister Tom Alweendo, the new capacity will be distributed between state-owned utility NamPower and independent power producers (IPPs). This initiative marks a significant step toward Namibia’s energy independence and sustainability goals. “The 2024 ministerial determination reflects a cohesive strategy aligned with our economic
Infinity Power, in partnership with Pele Green Energy, has been awarded six solar projects with a combined capacity of 1.28 GW under South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) Seventh Round. This achievement will triple Infinity Power’s current generation capacity in South Africa, supporting its ambitious goal to deploy 10 GW of renewable energy across Africa by 2030. Expanding South Africa’s Renewable Energy Landscape The six solar photovoltaic (PV) projects, with a
The African Development Bank Group (AfDB) has approved €28 million in funding to develop solar power plants in Gassi and Lamadji, Chad, as part of its Desert to Power program. This initiative aims to expand energy access across Africa while supporting Chad’s transition to renewable energy. The financing includes €20 million in direct support—a combination of loans and grants from the Sustainable Energy Fund for Africa—and €8 million in financial guarantees. These guarantees are equally
