23 March 2022: The Project Management Unit for the Regional Off-Grid Electricity Access Project (ROGEAP) officially commenced activities in March 2022 within the ECOWAS Department of Energy and Mines in Abuja. The main assignment of the experts in the Project Management Unit (PMU) is to execute the key programmes of ROGEAP that will facilitate access to electricity for households, businesses, and schools in 19 countries [1] across West, North and Central Africa.

ROGEAP is now in its execution phase for the ECOWAS Commission. The PMU was received and briefed at the beginning of March by the ECOWAS Commissioner for Energy and Mines, Mr Sediko Douka. Speaking on behalf of H.E Jean Claude Kassi Brou, President of the ECOWAS Commission, he welcomed the Project Management Unit members, reminding them of the context and the importance of ROGEAP for ECOWAS and its partners.

Launched in 2017 as Regional Off-Grid Electricity Project (ROGEP), the project was restructured and re-launched in November 2020 by ECOWAS and its Technical and Financial Partners as the Regional Off-Grid Electricity Access Project (ROGEAP). The project aims to increase access to sustainable electricity for households, businesses, government hospitals, schools within communities across the 15 ECOWAS member countries and four other African countries using stand-alone solar products and entirely based on a harmonised regional approach.  The project is being managed by a Steering Committee comprising representatives of the ECOWAS Commission, West African Development Bank and World Bank.

The 338.7 million-US Dollar project is funded by the World Bank, Clean Technology Fund (CTF) and the Directorate-General for International Cooperation (DGIS) of the Netherlands. The ECOWAS Commission, through the ECOWAS Centre for Renewable Energy and Energy Efficiency (ECREEE), and the West African Development Bank (BOAD) are responsible for the implementation of the project’s regional market development component and access to funding for stand-alone solar products component, respectively.

The creation of a business-friendly environment through identification of obstacles, technical and financial support for businesses across the 19 countries concerned in the development of solar energy, and the establishment of credit facilities to develop stand-alone solar products are among the expected outcomes of this project.

It is a blessing for the ECOWAS region which currently has an electricity access rate of only 50%, with renewable energy forming only a fraction of its energy mix. Through ROGEAP, the legal, regulatory, and institutional frameworks will be established and harmonised to encourage private businesses interested in developing off-grid electricity supply through solar products.

The ROGEAP Project will complement existing rural and peri-urban electrification efforts of ECOWAS Member States and is in line with the ECOWAS Master Plan for Rural Electrification adopted in 2018 by the governing bodies. It will therefore support the grid-based Regional Electricity Access Project (ECOWAS-REAP), which is already underway with its Regional Implementation Unit within the Energy and Mines Department of the ECOWAS Commission. At a cost of 690 million US Dollars, the project covers Cote d’Ivoire, the Gambia, Guinea Bissau, Mali, Niger, Senegal, Togo, and Mauritania.

The two projects combined and the individual efforts of Member States in terms of electrification, have placed the ECOWAS region on the right path towards attaining universal access to energy services by 2030 as advocated by the United Nations “Sustainable Energy for all SE4all” initiative.

[1] 15 ECOWAS countries, and Cameroon, Mauritania, Central African Republic and the DRC.

16 March 2022: The Spark+ Africa Fund has raised over $40 million in a first close, it was announced on Wednesday. The Fund is the world’s first impact investment fund focused on financing the value chains of clean and modern cooking appliances and fuels, to make them available to more people across Sub-Saharan Africa.

Clean cooking businesses face many challenges, including limited access to investment capital to increase their production and distribution capacity, high-risk perception, and an insufficient return profile to attract commercial investment. Spark+ directly responds to these challenges and is a key component of the African Development Bank’s actions in the area of clean cooking. Spark+ is anchored by the African Development Bank, using resources from the Sustainable Energy Fund for Africa.

The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, provided anchor financing for the innovative fund. Dr. Daniel Schroth, the Bank’s Acting Director for Renewable Energy & Energy Efficiency, said: “SEFA’s anchor investment in the Fund’s first-loss tranche contributed to catalysing the participation of additional financiers in Spark+. We are pleased that the Fund has been established as its investments are expected to support the delivery of clean cooking solutions to well over 10 million people across Sub-Saharan Africa, with significant benefits for public health, gender equality, the environment, and climate.”

The Spark+ Africa Fund was launched by its Switzerland-based investment advisor Enabling Qapital and Netherlands-based foundation Stichting Modern Cooking. Peter George, Co-Investment Director of Spark+ and Chairman of Stichting Modern Cooking, said: “We are grateful for the catalytic role that the African Development Bank and SEFA have played in launching Spark+. Access to clean and modern cooking solutions is an underappreciated component of infrastructure, with a major impact on the health and well-being of hundreds of millions of people, and in particular women, on the continent.”

Xavier Pierluca, Co-Investment Director of Spark+ and Managing Partner of Enabling Qapital, said: “The support from SEFA and the African Development Bank are key and timely to finance an essential segment of the access to energy space with a significant impact on people’s lives and our planet. Spark+ will offer tailored investment instruments throughout the value chain, from innovative design and manufacturing companies to last-mile distributors, in order to further the outreach of clean cooking solutions in Sub-Saharan Africa.”

Apart from the African Development Bank, Spark+ Africa Fund is supported by more than a dozen investors, including governments, foundations and financial institutions. The Clean Cooking Alliance, an initiative of the United Nations Foundation, and its donors, including the Norwegian and Dutch governments and the African Development Bank, supported the development of Spark+. The Fund has a target size of $70 million.

Spark+ Africa Fund will make debt, mezzanine, and equity investments in companies that manufacture and distribute clean cooking solutions, such as biomass stoves, advanced biomass fuels, liquefied petroleum gas, ethanol and biogas systems. Spark+ will also invest in distributors and consumer finance providers, such as off-grid solar companies and microfinance institutions that extend their services to clean cooking products.

Access to reliable and affordable energy remains an aspiration for many Africans. While Africa has made strides towards increasing electricity access over the last decade, there has been less progress on access to clean cooking solutions. Close to 900 million people in Sub-Saharan Africa still lack access to modern energy services for cooking, with negative impacts on health, especially for women and children, and the environment.

16 March 2022: The Beyond the Grid Fund for Africa (BGFA) programme has signed its first new agreements in Zambia, after a finalised pilot programme, to support the expansion and scale-up of high-quality solar home systems and development of mini-grid connections to help provide energy access in rural and peri-urban areas in the country over a four-year period until 2026.

The three first projects have been signed with RDG Collective Limited, Zengamina Power Limited and VITALITE Zambia Ltd. The total value of these contracts is approx. EUR 5.9 million and the total project budgets about EUR 20.3 million.

“We are proud to continue supporting affordable and renewable off-grid energy services in Zambia through the Beyond the Grid Fund, together with Nefco and KfW. It is very encouraging that we can now start the project implementation phase with these three Zambian companies. We look forward to announcing further companies selected under BGFA, investing in renewable and modern energy solutions in Zambia,” highlighted Anna Maj Hultgård, Swedish Ambassador to Zambia.

RDG Collective is a company developing its own solar home systems, established in Zambia in 2018. Since 2019, the company has sold over 4,000 energy service subscriptions, and today it has operations in eight Zambian provinces. RDG Collective operates the entire supply chain from design and manufacturing to sales and distribution, and provides after-sales support in all the provinces. With the support from BGFA, the company plans to establish and sell over 25,000 new energy service subscriptions by providing its own-designed solar home systems for households, including lighting, USB charging and other small rechargeable devices such as radios, as well as TV screens, refrigerators for commercial use and solar water pumps for farmers. The support is essential for RDG to expand its operation to the remote Northern and Western Provinces of Zambia.

“We are incredibly appreciative to be working alongside BGFA to empower the future of thousands of households in Zambia. Significantly, the growth generated in productive use appliances from this partnership will enable RDG to become a major catalyst for rural development in Zambia. Appliances, such as solar water pumps and refrigerators provide rural communities with the necessary tools to generate growing incomes and jobs that will be financially and environmentally sustainable in the long term,” said Rune Gunnar Dige, CEO and Founder at RDG Collective, in connection with the signing.

“We are excited to start the cooperation with RDG Collective to support its expansion across Zambia, which will provide energy access for up to 128,000 people in remote rural areas,” commented Heli Sinkko, Programme Manager at Nefco.

Zengamina Power Limited is a mini-grid company with an existing hydropower plant with an annual power generation capacity of 5.4 GWh situated in Zengamina, in North-Western Province in Zambia, about 900 kilometres from the capital Lusaka. With the BGFA funding, the company will be able to extend this capacity with a new solar power plant and install a Li-Ion battery storage system as back-up for night-time and drought periods. In addition, the company will extend its geographical reach and densification of connections. This will result in the establishment of 2,600 higher tier energy service subscriptions for rural customers, including small businesses in the area.

“We are very thankful for the support from BGFA and excited to get the work started to develop the first of its kind hydro-solar-BESS hybridisation, which will fast-track our mission to expand our grid in Zengamina and make Ikelenge the first fully electrified district in Zambia,” said Daniel Rea, Managing Director at Zengamina Power.

VITALITE Zambia has been operating since 2013 and is one of the market pioneers in Zambia selling solar home systems to off-grid rural areas. The company currently has some 40,000 energy service subscriptions provided to households and businesses across the country. With the BGFA funding, the company will be able to further scale up its business operations and provide solar home systems to low-income customers in remote areas of Zambia. The company plans to establish 113,400 new energy service subscriptions for basic residential energy needs, such as lighting, radios and cell phone charging, as well as for TV screens and productive use appliances including to business customers.

“Our team is delighted to build on the productive relationship with the BGFA programme donors and partners established through the Beyond the Grid Fund pilot programme. The BGFA programme presents an exciting opportunity to maximise our collective social impact by bringing clean, affordable energy to off-grid areas of Zambia and developing long-term sustainable energy access in the communities we serve,” said Russell Lyseight, Managing Director at VITALITE Zambia.

“Through their further business scale-ups and estimated new energy service subscriptions, Zengamina and VITALITE can benefit up to 658,000 people, providing both households and small businesses with electricity, and at the same time increase employment opportunities in Zambia,” commented Kari Hämekoski, Senior Programme Manager at Nefco.

These off-grid energy solutions will provide a cleaner, safer, cheaper and more environmentally friendly alternative to candles and kerosene lamps, which are often used by people in remote areas, and increase the reliability of power supplies for them. The distribution of solar water pumps will enhance food and water security. The funded companies will also help to improve the affordability of off-grid energy products. In the long-term, increased energy access will lead to a higher standard of education and create numerous new employment opportunities in Zambia.

The Beyond the Grid Fund for Africa opened its first funding round in September 2020, including in Burkina Faso and Liberia, and a second stage in Zambia (BGFA1). It opened two more funding rounds, in Mozambique (BGFA2) and Uganda (BGFA3), in spring 2021. The facility is currently concluding the first round of funding and, in addition to the first contracted companies in Zambia, the first projects in Liberia were announced at the end of January, and the first project in Burkina will be announced shortly.

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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 USD 4.5 million (approx. EUR 4 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.

• Bboxx has launched a new entry-level brand, Flexx by Bboxx, to provide affordable, reliable, and flexible clean energy solutions to those at the bottom of the energy pyramid, starting in Rwanda and Kenya;
• Having delivered clean energy solutions for over 2 million people, Flexx by Bboxx will enable Bboxx to serve members of the rural population they have not reached previously, unlocking even more potential;
• The launch is central to Bboxx’s mission to solve energy poverty, in line with UN SDG7 – clean energy for all.

15 March 2022: Bboxx, a next-generation utility, has launched Flexx by Bboxx, a new brand offering entry-level clean energy products to millions of people at the bottom of the energy pyramid. Flexx by Bboxx will bring new and reliable products to market that are affordable, accessible, and flexible, getting millions more people onto the energy ladder.

As part of the launch, Bboxx announced two new clean energy products that will add to their existing roster of clean energy, clean cooking, mobile technology, and accessible finance solutions:

• Flexx10 is an affordable ‘plug and play’ portable solar lantern, designed for rural customers and those who are mobile. The product is also capable of charging mobile phones. Flexx10 is an upfront cash sales product;
• Flexx40 is a Pay-As-You-Go token-based multi-light solar system, designed for rural customers at the bottom of the energy pyramid, with a demand for lighting applications and mobile phone charging. The system comes with dimmable LED light bulbs, which allows customers to have more control over their energy usage.

Both new products are designed to minimise lifetime costs and include features that reduce maintenance and service requirements. All Bboxx’s systems run on its comprehensive management platform Bboxx Pulse®, enabling clean energy access to be scaled to places previously considered too expensive or difficult to reach via traditional grid infrastructure.

The products will have a significant impact on the lives of those they support, be that allowing a child to study at home, allowing a vendor to continue trading after dark, or allowing remote communities to stay connected by charging their devices.

Twelve years ago, Bboxx set out to do one thing: connect billions of underserved customers to modern utilities. Through the launch of Flexx by Bboxx, the company will build on the momentum of its ongoing expansion and serve a wider array of customers. At present, the majority of the underserved rural population still needs access to a reliable energy source. Flexx by Bboxx will help change this.

To date, Bboxx has successfully delivered clean energy solutions for over 2 million people globally, with substantial operations in countries including Rwanda, Kenya, Togo, and the Democratic Republic of Congo. Many of these products are aimed at the top 25% of rural communities. The introduction of Flexx will enable Bboxx to reach the other 75%.

Flexx by Bboxx will first launch in Rwanda and Kenya before expanding to other Bboxx markets in subsequent months including in the Democratic Republic of Congo.

Commenting on the launch, Mansoor Hamayun, CEO and Co-Founder of Bboxx, said: “We are passionate about our mission to address the major global problem of energy poverty. The scale of the issue is vast, with 759 million people living without access to energy, of which 570 million are in Africa. We are therefore delighted to be expanding our product offering to include even more flexible and affordable solutions for customers struggling to get onto the energy ladder.

We are confident that Flexx by Bboxx will significantly aid us in transforming the lives of millions in the developing world, powering the energy needs of individuals, families, emerging businesses, and wider communities. Energy is the key to unlocking inclusive and sustainable economic development on a global scale, and we look forward to seeing the positive impact Flexx by Bboxx will have on this new pool of underserved customers.”

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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 over 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/.

15 March 2022: A Memorandum of Understanding (MoU) has been signed between the Burundi Renewable Energy Association (BUREA) and the Alliance for Rural Electrification (ARE). The MoU sets out the shared goals of the two organisations to address the challenges related to the optimal use of the various renewable energies for electrification and the potential for energy efficiency in Burundi. Both organisations agreed to stimulate social and economic development by increasing the share of renewable energies in the energy mix in East Africa and particularly Burundi.

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

In this regard, the associations aim to further develop the capacity of renewable energy stakeholders in Burundi to create local jobs to drive more financing for renewable energy projects and businesses. This will, for example, be achieved by business events and by spearheading “DRE Investment Academies” or similar trainings for Burundian and international DRE developers and stakeholders, with the aim of providing 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 Burundi, 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 stressed that: “We are excited to sign this landmark partnership with BUREA. The cooperation fits squarely within ARE’s goal to increase country-level actions and support private sector to boost renewable electrification. It is now time to catalyse investments further to improve energy access in Burundi through partnerships, for example with our long-standing partners GET.invest and ARE Member EDFI ElectriFI, and the latter are being supported by €10.6 Million from the EU to fund renewable electrification efforts in Burundi through a specific Country Window.”

Théodore Kwigize, Legal representative of BUREA said: “BUREA has a vision for Burundi where each actor understands and fully plays its role for the promotion and access to renewable energies and its mission is to help the country to find adequate solutions to the energy problems in collaboration with other stakeholders in the field, both at the national, regional and international level. It has just signed an MoU with ARE to contribute more to the promotion of renewable energies in Burundi where the rate of electrification is 60.5% in urban areas, 2.6% in rural areas with a national average of 9.1%.”

14 March 2022: The Sasol Solar Challenge (SSC) is proud to announce the return of its seventh biennial challenge from the 9th to 16th September 2022.

“It should come as no surprise that the 2022 challenge is one that is highly anticipated,” said Robert Walker, director and owner of the SSC. “It’s great to see just how much this event continues to evolve with the help of so many communities, businesses, volunteers, partners and sponsors who continue to help the SSC team put on this amazing event.”

The 2022 SSC will be moving across more than 20 different towns, touching five provinces. Communities in these provinces will be witnessing solar-powered cars moving through their streets on the eight-day long challenge for the first time in almost four years.

For 2022, the challenge has an almost brand-new route with new towns, road and communities. This has been done to increase the impact which the event has on the communities which it passes through.

“We are expanding the reach of the event across the country to not only showcase the mind-blowing innovations and technologies developed by the teams, but also raise awareness on the use of renewable energy to save our country and the entire planet,” said Walker. “The SSC goal is to impact communities to develop and embrace renewable energy and the future of STEM.”

Walker said this year’s event is also aimed at encouraging the youth in pursuing careers in science, technology, engineering, and maths (STEM).

“One of the key objectives for the SSC is to attract young people to STEM-based studies at learning institutions, through hands-on learning and real-life applications from like-minded scholars from around the world, who will be racing in their towns.”

Sasol senior manager for group brand and sponsorships, Nozipho Mbatha echoed Walker and said, "The Sasol Solar Challenge demonstrates the value of science, technology, engineering and maths initiatives. It is  a showcase of where engineering and technology meet in real life.”

Mbatha added that, “the event creates a space for young South Africans to develop skills for careers of the future, bringing our purpose of innovating for a better world.”

The SSC is on its fourteenth year. It is a biennial competition that sees local and international solar-powered vehicles challenging each other to move as far as possible along a set route, using only the power of the sun and cutting-edge technology. It runs on public roads, sharing space with trucks and regular traffic, and passes through multiple small towns.

This year’s event is set to include secret routes and shorter loops. Teams will be forced to strategise to find information regarding routes, as it would be withheld until the night before they take on the road. There will be changes in landscape, with different mountain terrains and hills will be introduced.

“However, it’s always been a fundamental challenge to see who can get the most kilometers down to Cape Town,” said Walker.

14 March 2022: Following two years of COVID restrictions we are excited that the Africa Energy Forum (aef) is back to full capacity with the return of the massive exhibition, the four-day multi-streamed agenda focusing on the private sectors investment needs and business development. In Brussels aef will welcome back over 2,500 industry leaders (doubling the number we saw in London last year), from some 82 countries worldwide – yes, the African energy community is back ‘in one place’, to build back better and accelerate energy deals and projects.

Simon Gosling, Managing Director of EnergyNet, commented “It’s great to be back to full capacity!! As we reflect on the past 24 months it feels like the world has truly adjusted and is daring to be more responsible in investment decision making. However, responsible investing needs to be aligned with the reality of the private sector which can only survive in a profit enabled world, seeking out new revenue streams to maintain a strong and sustainable business. At aef in Brussels, we will therefore be looking at financing and blended energy solutions, to reduce emissions significantly across the industrial landscape, whilst also maintaining capacity output, growth and broader job creation – THE JUST TRANSITION”

Whilst countries across Africa remain some of the biggest investment destinations anywhere in the world, the energy sector is still significantly underinvested, not necessarily because of a lack of capital, but often due to a lack of capacity to build at pace and an underdevelopment industrial base. aef will therefore continue to focus on building new capacity in the energy markets and the evacuation of those electrons to enable and better serve the industries, business and homes that will in turn create a more bankable and sustainable investment climate.

Being a closed forum (not open to the general public), aef will again provide stakeholders a destination to have meaningful discussions around blockages in specific projects, learn of new areas of investment such as the vast offshore potential of wind and gas, and of course break down some of the barriers to investment which is stunting the number of projects reaching financial close which presently sits at a rather lowly 10%.

Who’s back – we’re delighted to already have confirmed a plethora of new sponsors and are ready to announce a number of powerful new partnerships, however aef is about stability and enabling continuous engagement with stakeholders critical to private sector success including; governments, utilities, regulators, development finance institutions, commercial banks, power developers, technology providers, EPCs and professional services – needless to say, they are all back….

See you in Brussels.

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For more information about the Africa Energy Forum [aef]:

Contact: Harpreet Sohanpal – Director of Marketing Operations

Event dates: 21-24 June 2021

Event location: Taxi & Tours, Brussles, Belgium

Organisers: EnergyNet, part of Clarion Events Ltd

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

Contact: +44 (0)20 7384 7955

Website: www.africa-energy-forum.com

10 March 2022: The African Development Bank and the Bank’s Sustainable Energy Fund for Africa (SEFA) have approved a combined-equity investment of $20 million in the AfricaGoGreen Fund, a debt fund established to promote private investments in energy-efficient technologies and business models, with the objective of decarbonising African economies and accelerating the energy transition.

These new investments come on top of $11.5 million equity contribution approved by the Nordic Development Fund (NDF) in December 2021. NDF provides financing to climate change mitigation and adaptation activities within the nexus of climate change and development. NDF is also a donor to SEFA, thus reinforcing the close partnership to advance the transition to cleaner and greener solutions for the continent while encouraging the participation of the private sector.

“This combined Bank investment will lead to increased financing of emerging projects and businesses in the areas of industrial appliances, electric mobility and green buildings, which are key to the decarbonization of African economies and to a just energy transition”, said Dr. Kevin Kariuki, African Development Bank Vice President for Power, Energy, Climate and Green Growth.

“Achieving the climate goals and universal access to clean and affordable energy will require vast investment in energy efficiency and, more broadly, in electrification and other sector coupling trends. By targeting these emerging sectors in Africa, AGGF complements our climate and energy access portfolio, and is aligned with our strategic role as an early-stage catalytic investor”, said Mr. Henrik Franklin, Director for Portfolio Origination and Management at the Nordic Development Fund.

Launched in early 2021 with EUR 45 million in catalytic capital, the AfricaGoGreen Fund is a flagship project under the G20 Compact with Africa.

“We are really happy to see the Bank, SEFA and NDF as new investors in AGGF. These new investments are also expected to trigger additional investments by commercial investors and financiers either directly or through co-funding of projects”, said Jan Martin Witte, Director Global Equity and Funds for KfW Development Bank.

The Fund approved its first deal in August 2021, a loan to AktivCo – a company that finances clean energy solutions for powering telecommunication towers located in Burkina Faso, Cameroon, Chad, Côte d’Ivoire, and Niger. Also, in December 2021, it made an additional approval of a $5.5 million loan to BBOXX, a technology company exploring energy solutions that would provide electricity and other utilities to the millions without them, for the expansion of access to clean cooking solutions.

The AfricaGoGreenFund provides flexible and tailored debt instruments to private businesses in green appliances for domestic and industrial processes, green buildings, e-mobility solutions, and battery energy storage projects. It is managed by LHGP Asset Management, part of the Lion’s Head Global Partners group.

Clemens Calice, Co-CEO and founding partner of Lion’s Head Global Partners said: “We are excited to welcome the African Development Bank, SEFA and NDF as investors to the AfricaGoGreen Fund. The Fund will take efforts to transition to a lower-carbon economy a step further by offering financing to innovative African companies that embrace energy efficiency as a challenge and an opportunity.”

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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.

About NDF: The Nordic Development Fund (NDF) is the joint Nordic international finance institution of the five Nordic countries: Denmark, Finland, Iceland, Norway, and Sweden. NDF focuses on the nexus between climate change and development in lower-income countries and countries in fragile situations. Since the introduction of the climate mandate in 2009, NDF has built a track record of adding value by financing climate mitigation and adaptation projects in close interaction with its extensive network of strategic partners.

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.”