Globeleq, the leading independent power company in Africa, has completed its acquisition of a 52.5 % stake and a 22.5% stake in the 41 MW Central Solar de Mocuba solar PV power plant (Mocuba) in Mozambique from Scatec ASA and KLP Norfund respectively. Electricidade de Moçambique (EDM), the national power company of Mozambique, continues to hold the remaining 25% stake in the plant. This acquisition significantly expands Globeleq’s renewable energy footprint in Mozambique and comes
South Africa has launched the seventh bid round for its flagship Renewable Energy Independent Power Producer Procurement (REIPPP) program, targeting the development of 3,200 MW of wind and 1,800 MW of solar PV power. The bid round is part of efforts to establish 14,771 MW of new installed generation and storage capacity, including 9,600 MW of wind and 3,940 MW of solar. According to South Africa’s Ministry of Mineral Resources and Energy, both the seventh
Green hydrogen development company, Hyphen Hydrogen Energy, has signed a Project Preparation Facility (PPF) agreement with the Development Bank of Southern Africa (DBSA) for its large-scale green hydrogen project in Namibia. To the tune of $5.4 million, the PPF will support the engineering, environmental and socioeconomic components of the project. “The DBSA and Hyphen’s partnership will facilitate the creation of a new asset class in the energy sector with a profound and positive economic, social
South African specialist investment manager, STANLIB, launched its STANLIB Khanyisa Energy Transition Fund last week at COP28 to mobilize crucial capital from long-term investors for South Africa’s energy transition and broader expansion across the continent. The Fund will target energy transition assets including renewable energy, decentralized energy, natural gas as a transition fuel, critical minerals, green hydrogen infrastructure and hybrid and electric vehicles. Led by Johan Marnewick, Head of STANLIB’s Credit Alternatives, it will play
International design and engineering firm, Dar Al-Handasah, entered into a Memorandum of Understanding (MoU) with Sun Africa, a utility-scale renewable project developer and off-grid solution provider, on December 6 at COP28. Under the terms of the MoU, Dar Al-Handasah will offer comprehensive technical support, including design, project management and construction supervision, for Sun Africa’s projects. The collaboration will initially span projects in Angola and Nigeria, with potential expansion across Africa, the Middle East and other
Libya has set an ambitious target to source up to 20% of its electricity from renewable energy resources by 2035 through a strategy that has gained the support of global partners. Established last October and announced earlier this month, the strategy is considered a strategic economic move by the government, as it serves to not only raise access to electricity but also alleviate fiscal stress. Currently, energy subsidies account for 30% of government spending annually.
Renewable energy company, Masdar, has signed an agreement with Angola’s Ministry of Energy and Water to develop a 150 MW solar photovoltaic (PV) plant in southern Angola. The solar plant will provide renewable energy to approximately 90,000 homes and is expected to create up to 600 jobs. Announced on December 1 during the COP28 Summit in Dubai, the agreement was signed between Angola’s Minister of Energy and Water, João Baptista Borges, and Masdar CEO, Mohamed
Mozambique’s National Investment Bank (BNI) on Monday December 2nd signed in Dubai an agreement with AMEA Power from the United Arab Emirates valued at 150 million US dollars. The agreement is aimed at developing a photovoltaic solar power plant with an estimated annual capacity of between 125 and 200 MWp (megawatt peak). The agreement was signed during the 28th meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change
Italy has committed a new €5 million to support Africa’s sustainable energy initiatives through the Special Fund of the Sustainable Energy Fund for Africa (SEFA). The announcement of this new contribution was made by Vannia Gava, the Italian Deputy Minister of Environment and Energy Security, during a side event at the 2023 United Nations Climate Change Conference, COP28, on Monday 4th December. The event co-organised by Res4Africa Foundation and GSE co-organised focused on the necessity
The President of the American Chamber of Commerce in Angola (AmCham), Pedro Godinho, announced in Luanda last week that the United States government has approved a $2 billion investment in renewable energy projects across Benguela, Cuando Cubango, Moxico, and Namibe provinces. During President João Lourenço’s ongoing visit to the United States to bolster economic and commercial ties, Pedro Godinho highlighted the U.S. government’s commitment to finance these projects, signaling the Biden administration’s keen interest in
