2 November 2021: Today, Husk Power Systems (huskpowersystems.com), the rural clean energy services leader in Africa and Asia, launched its first six solar hybrid minigrids in Nigeria, located in Nasarawa State. It is the first time that a company has rolled out multiple mini-grids at one time under the Nigerian Electrification Project (NEP), an initiative funded by the World Bank and the African Development Bank and implemented by the Rural Electrification Agency (REA).

Husk Power established its presence in Nigeria in early 2020, and its Abuja-based team has grown to more than 40 staff, with more than 50 part-time hires in the communities that Husk serves. With strong local leadership, Husk forecasts a fleet of more than 100 minigrids in Nigeria within the next 24 months, growing to 500 minigrids by 2026. It also plans to expand to several other Nigeria states before the end of 2023.

In Nasarawa, the newly launched minigrids will provide clean, reliable and affordable electricity to about 5,000 households and 500 businesses in Doma and Lafia Local Government Areas (LGAs). The six communities accessing electricity for the first time are Rukubi, Idadu and Igbabo in Doma LGA, and Kiguna, Akura, and Gidan Buba in Lafia LGA.

“Nigeria’s leadership in rural electrification and making minigrids a centerpiece of national energy strategy is a global best practice,” said Manoj Sinha, Husk co-founder and CEO. “Husk Power is proud to be contributing to the government’s vision of public-private partnership to provide clean, quality, reliable electricity that powers economic opportunity for small businesses and households across the country.”

In September, Husk received financial support from Nigeria’s REA to develop seven hybrid solar minigrids in Nasarawa, as part of the NEP’s performance-based grant program. The seventh site will come online in 2022 along with a larger pipeline of projects. Besides providing electricity to the local Doma and Lafia households and businesses, the minigrids will also support local agricultural activities such as milling, cold chain and irrigation.

Quote from His Excellency, Engr. Abdullahi A. Sule, Governor of Nasarawa State: 

“The completion of six minigrids by Husk Power Systems in Nasarawa State is an important step in scaling rural electrification and achieving energy access for all Nigerians. It is with great pride that Nasarawa State has collaborated with Husk Power, the world’s leading rural clean energy services company, and the Federal Government through the Rural Electrification Agency to implement these impressive projects, which will ensure clean, safe and reliable electricity for the communities in Rukubi, Idadu, Igbabo, Kiguna, Akura and Gidan Buba.”

Quote from Ashish Khanna, Acting Regional Director for Infrastructure, Africa West and Africa East; Practice Manager, West and Central Africa Energy: 

“The World Bank is a proud partner of the Government’s Nigeria Electrification Program (NEP). It is 2 years ago that the first solar minigrid was commissioned under NEP at Rokota village, since then significant progress has been made with 359 private sector led solar minigrid projects under development with the potential to provide electricity to 1.1 million people. Husk Power is now showing the way in scaling, with the first ever deployment of 6 sites simultaneously under the program, contributing to their ambition to roll-out 500 systems by 2026. We look forward to jointly continue to move the needle in providing electricity to the 80 million people who don’t have access to this today. ”

Besides its core minigrid business, Husk’s local entity Husk Power Systems Nigeria Limited, also installs turnkey rooftop solar for off-grid and weak-grid commercial and industrial (C&I) customers as well as providing energy efficient appliances and equipment for both households and businesses.

Husk is the international leader in community solar minigrids with over 130 sites operating in India, Nigeria and Tanzania. It ended 2020 with more than 5,000 small business customers.

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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.

29 October 2021: New analysis reveals $1.2 trillion investment opportunity over the next 10 years can be realised by building productive market demand for off-grid renewable energy in sub-Saharan Africa.

Africa needs energy for development and the socio-economic transformation of hundreds of millions of people. Increasing the productive use of energy (PUE) is an important way to unlock jobs, create incomes and deliver social impacts in local communities. Two reports released today by the Powering Renewable Energy Opportunities (PREO) Programme outline the business case for investment into productive equipment and appliances and the scale of the investment opportunity that exists.     

PREO is funded by the IKEA Foundation and UK aid, via the Transforming Energy Access platform and delivered by the Carbon Trust and Energy 4 Impact. The programme enables African businesses to harness clean energy to improve incomes, build climate resilience and reduce reliance on fossil fuels. To date it has funded 23 private sector and non-profit enterprises that demonstrate the business and impact case of PUE in multiple sectors. PUE refers to the type of energy demand that generates revenue, increases productivity, enhances diversity, and creates economic value.

The PUE market opportunity in sub-Saharan Africa is significant. The Capital Required to Maximise the Productive Use of Energy in Sub-Saharan Africa report details new analysis that estimates $1.2 trillion over the next 10 years (or $120 billion per year) is required to ensure the necessary level of productive and revenue generating demand is created to improve the economics of off-grid renewable energy. This is significantly larger than the estimated $40 billion required annually to achieve global universal energy access on the same timeline, the report says.      

The business case for investment is backed by results as PREO releases the first impacts from the projects being supported via the programme. The Power of the Productive Use of Energy – an Impact Investment Frontier; details outcomes from six pilot projects (in e-mobility and transport, cooling for food and healthcare).

PREO funding has enabled the businesses it supports in sub-Saharan Africa to demonstrate business model viability while gathering critical business information and securing commercial scale-up capital. Each of the projects uses PUE appliances or equipment to create business opportunities and grow local economies, while providing essential services in agriculture, e-mobility transport, and healthcare.

In e-mobility, PREO has demonstrated viable payback for investment over a little more than two years through a daily leasing model of e-motorbikes. Moreover, the projects have created jobs, created opportunities for women, boosted local production capacity, and created supply chain opportunities. Emissions associated with the use of fossil fuels in conventional internal combustion engine motorbikes have also been avoided while running and service costs have come down by 68% and 33% respectively.

Cooling for food companies supported through PREO have shown that off-grid cold storage directly aggregates smallholder farmers and achieves breakeven at a 72% utilisation rate. The cooling units reduce agricultural waste by a third, and client farmers typically pocket 20% more for their produce when using the service. Over six months, client farmers sold 2 550kg more produce, resulting in $11 460 additional income.

In primary healthcare, companies supported by PREO show that by adopting solar, facility downtime can be minimised by as much as 40%, and revenues improved by up to 20% through serving more patients and introducing electricity-powered medical devices and other healthcare services. Investment will attract capital for more off-grid implementation and is a model that may be applied elsewhere.

“Stimulating greater demand for renewable energy and boosting investment in productive use equipment and applications is a critical way to support business opportunities, grow local economies and create jobs in sub-Saharan Africa,” Jon Lane, Associate Director at the Carbon Trust says. “However, traditional forms of investment in energy access often fall short of bridging the gap between the high cost of supplying renewable energy to off-grid communities and building consistent and reliable demand from businesses or households. We hope the release of these reports not only highlights the scale of the investment opportunity available, but also confirms the economics and social benefits that can be delivered.”

PREO is funded by the IKEA Foundation and UK aid via the Transforming Energy Access platform, and delivered by the Carbon Trust and Energy 4 Impact.

Please click on these links to watch short videos about three PREO pilot projects: Opibus, SokoFresh and Access Afya.

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About PREO: The Powering Renewable Energy Opportunities (PREO) Programme stimulates renewable energy demand in Africa by providing high-risk grant capital, technical assistance and knowledge dissemination services to a portfolio of companies in a range of sectors. In this way it creates sustainable jobs and reduces poverty through economic growth and empowering women. It is supported by the IKEA Foundation and UK aid, and delivered by the Carbon Trust and Energy 4 Impact. For more information, visit: www.PREO.org/.

26 October 2021: The Alliance for Rural Electrification (ARE), together with the United Nations System in Madagascar (UNDP, UNIDO and UNCDF), Joint SDG Fund and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), organised the Madagascar Rural Electrification Forum (FERM), which took place virtually on 20-21 October 2021. The two-day event was also supported by the Ministry of Energy and Hydrocarbons (MEH), Rural Electrification Development Agency (ADER), Electricity Regulation Office (ORE) and Economic Development Board of Madagascar (EDBM). 

The Forum brought together almost 300 stakeholders from the DRE sector, including private and public sector representatives such as the Government of Madagascar, investors, project developers and technology providers. FERM showcased the potential of the decentralised renewable energy (DRE) market in Madagascar and connected key financial and technical players to do business. 

David Lecoque, CEO of ARE said: “We are honoured to organise the first ever Madagascar Rural Electrification Forum and bring together public and private sector actors to help drive rural electrification efforts in Madagascar. We believe that these fruitful discussions will help turbocharge the DRE market in Madagascar and contribute to the massive and rapid deployment of DRE across the country.” 

Sambatra Ramiandrasoa, Director General of Energy & Hydrocarbons of MEH stated that: “Together, we will work hard to bring electricity to every rural, remote and landlocked area of the country. Several projects should be implemented to achieve such ambitions. That is why we have organised this forum to discuss how to effectively achieve the set objectives in a B2B format." 

Issa Sanogo, Resident Coordinator of the UN System in Madagascar underlined that: “The UN System supports the Madagascar Government and other stakeholders in the promotion and development of a green economy to support sustainable and inclusive development. The UN System supports actions for a better electrification of rural areas while promoting renewable energies because these discussions allow not only the strengthening of mechanisms of adaptation and mitigation to climate change but also so we do not leave aside the populations in these areas." 

The discussions demonstrated that DRE technologies were fundamental in harnessing the vast renewable energy potential, delivering vast socio-economic benefits and increasing energy autonomy and diversification in Madagascar, thereby enabling energy access for all. In addition, FERM provided an important opportunity to shed light on how investors can contribute to furthering electrification rates in Madagascar.

Christoph Feldkötter, Country Director of GIZ Madagascar stated that: “This forum is truly an exceptional opportunity for Madagascar to present its renewable energy potential to investors and to contribute to the achievement of the objectives set out in the General State Program. It is also an opportunity to contribute to the mitigation of climate change. We are convinced that this dialogue will contribute to the improvement of the living conditions of the population in rural areas!” 

FERM opened with an overview of the current state of the DRE market in Madagascar. This session outlined that it was important to acknowledge the economic role of DRE and it was vital to grasp this enormous potential, particularly in the most vulnerable areas of Madagascar.

The high-level discussions and debates attracted many key actors from the public and private sector including ARE Members ABC Contracting, Africa GreenTec, ADEME, ANKA Madagascar, Asantys Systems, atmosfair, BAE Batterien, Benoo, ENERSOL, ENGIE Energy Access, Faber, Gommyr Power, NRECA International, Phaesun, Rutten NES, Solar23, Studer Innotec, Tanatech, Upya, Voltalia and Zimpertec.

The second day brought together DRE technology providers and private and public sector investors to highlight the types of financial instruments available to stimulate rural electrification efforts in Madagascar. Practitioners on the ground also had the chance to present their Malagasy projects and technical solutions for mini-grids and stand-alone renewable energy systems.

Lastly, ARE facilitated approximately 150 virtual matchmaking sessions, enabling investors, technology providers, project developers, as well as other innovators in the sector to connect.

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The Alliance for Rural Electrification (ARE) is an international business association with the aim to promote a sustainable decentralised renewable energy industry for the 21st century, activating markets for affordable energy services, and creating local jobs and inclusive economies. ARE enables improved energy access through business development support for more than 185 Members along the whole value chain for off-grid technologies.

For 50 years, the UNDP has been the development agency of the United Nations System which has contributed to the promotion of good governance, the eradication of poverty and the significant reduction of all forms of inequality and exclusion in the world. UNDP is present in nearly 170 countries and territories. In Madagascar, UNDP supports Malagasy institutions and communities in promoting good governance, while supporting the transition to sustainable development in which economic growth benefits everyone and where irreversible damage to the environment is avoided. To do this, UNDP provides efficient and equitable services to citizens, especially poor and marginalized groups, and supports democratic and governance institutions to be more inclusive, transparent and efficient.

The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH has been working in Madagascar on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) since 1982. It also undertakes commissions for the European Union. The GIZ country office has been based in Antananarivo for over 35 years. GIZ is assisting the Malagasy Government and the private sector in improving general conditions for public and private investment in order to promote expansion of the country’s energy supply. A new energy policy and an energy act have been adopted, providing legal certainty for private companies investing in renewable energy.

The Joint Sustainable Development Goals (SDG) Fund is an innovative instrument to incentivise the transformative policy shifts and stimulate the strategic investments required to get the world back on track to meet the SDGs. The UN Secretary-General sees the Joint SDG Fund as a key part of the reform of the UN’s development work by providing the “muscle” for a new generation of Resident Coordinators (RCs) and UN Country Teams (UNCTs) to really accelerate SDG implementation.

The agencies of the United Nations System have been operational in Madagascar and work in collaboration with the Government, the private sector and civil society in the social, economic and humanitarian fields. The main activities of the United Nations System in Madagascar revolve around three axes: the promotion of human rights, peace and security and development. Actions and advocacy in favor of theSDGs are a priority. The agencies work in close collaboration with the State to achieve the SDGs and to implement the country's National Development Plan.

UNIDO is the specialised agency of the United Nations that promotes industrial development for poverty reduction, inclusive globalization and environmental sustainability. The mission of the United Nations Industrial Development Organization (UNIDO), as described in the Lima Declaration adopted at the fifteenth session of the UNIDO General Conference in 2013, as well as the Abu Dhabi Declaration adopted at the eighteenth session of the UNIDO General Conference in 2019, is to promote and accelerate inclusive and sustainable industrial development (ISID) in Member States.

The UNCDF makes public and private finance work for the poor in the world’s 46 least developed countries (LDCs). UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development.

• USD 1.25m loan from REPP also marks UK-government funded programme’s first investment in a majority women-led company.

21 October 2021: A ground-breaking solar mini-grid project is delivering far-reaching health and socio-economic benefits in rural Sierra Leone following a USD 1.25m loan from REPP, funded by the UK government.

The “Moyamba” project is being developed by Energicity (SL) Limited (“Energicity”) after the company won a concession to build and/or upgrade and operate 32 mini-grid sites from Sierra Leone’s Rural Renewable Electrification Project, which was conceived in the wake of the 2014 Ebola crisis to support the country’s struggling health care system.

A significant part of the Moyamba project targets increasing the system’s capacity and strengthening its resilience to climate change via direct connection to hospitals and clinics. As part of the agreement with the government, Energicity’s project company is required to provide a minimum daily amount of power to community health centres free of charge.

As well as supporting health care, all 32 mini-grids are suitable for productive uses of energy, such as milling and grinding, thus providing income-generating opportunities for local businesses and direct job opportunities for communities. Energicity, a subsidiary of majority women-led Energicity Corporation, is also developing “behind the meter” relationships with customers, providing value-added services such as leasing freezers and electric motors.

REPP’s loan will now enable the completion of the project and provide funding for the operation of all 32 sites which are situated in Sierra Leone’s Port Loko, Kambia, Karene and Moyamba districts. Once completed, the mini-grid portfolio will provide first-time access to electricity to nearly 80,000 people, directly supporting Sierra Leone’s national electrification target of 92% by 2030. The sites will also add a combined 1.3MW of renewable energy capacity and avoid over 2,800 tonnes of greenhouse gas emissions per year.

Nicole Poindexter, CEO and Founder of Energicity Corporation, said: “With the support of REPP’s USD 1.25 million loan, the project is not only providing a source of reliable power to the districts’ under-pressure health clinics, but once completed will have connected almost 80,000 local people and small businesses to electricity for the first time. These people include Kadiatu Maseray, who with affordable and reliable electricity has increased the profits of her cold drinks business by 300% and the Conakry Dee Junior School, which has seen a 25% increase in attendance and a 235% increase in students passing since being connected to its local mini-grid.

“We are grateful for the REPP team’s commitment to helping us achieve our vision of providing affordable, reliable, scalable electricity so that families and communities can thrive.”

Geoff Sinclair, Managing Director of REPP’s investment manager, Camco Clean Energy, said: ”The Ebola outbreak in 2014 had a devastating impact on Sierra Leone, and put an overwhelming demand on the country’s healthcare system. The ongoing success of the Moyamba project is a sign of a country on the mend and proof of how renewable energy initiatives present a viable investment decision for external investors.

“From the start, Moyamba has been designed to have the widest positive impact on people, not just through providing free power to hospitals and clinics, but by delivering a sufficiently high service quality so as to promote the productive use of electricity, as well as providing households with a clean, healthy and more affordable alternative to kerosene.”

By having 60% female representation in Energicity (SL) Limited’s senior management team, the Moyamba project meets the 2X Challenge’s criteria for gender lens investment. This means that of all REPP’s current investments, 53% now meet this widely regarded criteria for supporting gender equality.

 “In its role as REPP’s investment manager, Camco is committed to increasing the role of women in the sector,” said Sinclair. “Unfortunately, women-led businesses remain a rare entity in Sub-Saharan Africa’s renewable energy space, and so being able to support Moyamba as a majority women-managed project is a particular highlight.”

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

About Camco Clean Energy: Camco Clean Energy is a specialist fund manager focused on renewable energy, climate finance and impact in emerging markets. We offer elegant and practical financing solutions to lead the clean energy transition, pairing the conscience of a development bank with the agility of a small private company. Camco is an Accredited Entity of the Green Climate Fund and is authorised and regulated by the UK Financial Conduct Authority. The company has offices in Accra, Helsinki, Johannesburg, London, Nairobi and Toronto. For more information, visit: www.camco.energy.

About the UK’s International Climate Finance: UK International Climate Finance (ICF) is the UK’s primary international instrument to help deliver on our commitments under the Paris Climate Agreement. It is one of the vital tools we are deploying to tackle climate change internationally and help us secure successful outcomes at the COP26 negotiations.

The UK’s ICF helps developing countries mitigate and adapt to the impacts of climate change, reduce deforestation and pursue clean economic growth. The ICF is focused on driving transformation in line with the scale of action required to tackle climate change. For more information, visit: https://www.gov.uk/guidance/international-climate-finance.

About Energicity Corporation: Energicity Corporation is a developer and operator of solar-powered mini-grid utilities in West Africa.  Energicity has won concessions in Sierra Leone (Power Leone) and Benin (Weziza Benin) that will serve over 120,000 people in the two countries. The company’s innovative deployment models enabling affordable, reliable, scalable electricity were hailed by TechCrunch in 2020 as Africa’s Utility of the Future.  Founded in 2015 by Nicole Poindexter and co-founded by solar engineer Joseph Philip, the company’s investors include Treehouse Investments and the flagship investment of  Ecosystem Integrity Fund’s Fund IV. For more information, visit: http://energicitycorp.com/home/.

18 October 2021: d.light, a leading innovator of solar, lighting and sustainable products, announced today that it had raised USD 15 million of equity financing from existing investors, led by Inspired Evolution. This latest round of funding, in addition to the USD $10 million raised recently from Proparco in May, brings the total to USD 25 million raised this year by the company, underscoring the confidence investors have in the industry and d.light despite the pandemic. This capital raise will bolster the company’s plans to continue growing its PayGo consumer finance business in key markets across Africa.

“We are grateful for the continued support of our investors during these uncertain times. Thanks to our focus on financial discipline and operational excellence, d.light minimised the pandemic’s impact to our business. We are now in a strong position to accelerate our plans to expand our Pay-Go operations and enter new product categories and markets in the near future,” said d.light co-founder and CEO Ned Tozun.

Inspired Evolution led the USD 15 million round, supported by Evolution II, Shell New Energies, FMO, Norfund, Swedfund, and KawiSafi Ventures. On the investment, Wayne Keast, Co-Managing Partner of Inspired Evolution said, “We are pleased to support the company with additional capital for growth and to secure the support from many of the existing shareholders during these difficult Covid-19 times.”

After reaching its founding goal of impacting 100 million lives by 2020, d.light has embarked on another ambitious journey to impact 1 billion lives by 2030 with transformative products. The company provides customers with a broad portfolio of sustainable solutions, ranging from portable solar lanterns to financed solar home systems and related aspirational products, such as smartphones and televisions. d.light’s award-winning products are sold through over 30,000 outlets.

18 October 2021: The United States Agency for International Development announced two awards totaling $3.5 million for the Bicycles for Growth Initiative. This program aims to improve sustainable access to affordable bicycles in sub-Saharan Africa.

With USAID support, J.E. Austin Associates and World Bicycle Relief will work together to increase mobility in rural areas in sub-Saharan Africa by developing and demonstrating means to rapidly increase bicycle uptake for individuals who cannot afford or do not have access to other transportation – thereby facilitating the opportunity for higher incomes, and better health and education outcomes.

Many communities throughout sub-Saharan Africa struggle to access health services, education, economic opportunities, and basic social services due to long distances and limited transportation options. For rural communities, these challenges are particularly acute. Walking is the main mode of transportation in many parts of sub-Saharan Africa. Bicycles can provide an affordable, accessible, reliable, and efficient alternative to walking, offering more carrying capacity and easier access to necessary destinations.

More than 70 percent of sub-Saharan Africa’s rural residents must traverse long distances without access to roads or transportation to commute to work, transport goods to market, travel to school, or obtain medical care.

The awards will support research on the supply, demand, and supporting systems for access to bicycles in Ghana, Malawi, Rwanda, Uganda, and Zambia. Based on the results of the assessment phase, the teams will implement pilot projects in four to six localities across two of these countries with the goal of reducing barriers to increased supply and uptake of low-cost, durable, and adjustable bicycles. The Bicycle for Growth Initiative represents a simple, but effective approach to addressing a common development challenge.

13 October 2021: Solar Panda, a young Canadian company that provides solar home systems to off-grid homes in sub-Saharan Africa, has been ranked the 3rd fastest growing company in Canada in 2021 by Report on Business Magazine, a publication of Canada’s newspaper of record, the Globe and Mail.  Solar Panda earned its spot with a three-year revenue growth of 10,465%!

Solar Panda was founded by Andy Keith, a serial entrepreneur in the renewable energy sector.  Solar Panda started selling in Kenya in 2017 and in under 4 years has rocketed to be become a leader in the industry.  It provides solar home systems to over 160,000 homes, bringing light to 800,000 Kenyans. These systems transform lives by displacing toxic and dangerous kerosene lanterns; giving children clean light to study by; providing access to entertainment and information; and making virtually all daily tasks easier.

“We’re honoured to be recognized and included on this distinguished list,” says Andy Keith, CEO. “I am in awe of the growth our team has achieved, especially with the challenges Covid has thrown at us.  There are still nearly a billion people in the world without access to electricity, and so we are just getting started!”

In the past 4 years, Solar Panda has grown to a company with 250 employees (54% women), 750 sales agents and 30 stores across Kenya. Since the beginning, Solar Panda has been focused on sustainable growth and was profitable prior to the pandemic, a feat which has eluded most companies operating in this nascent sector. 

“The pandemic will have an outsized impact in developing countries with slow access to vaccines and fragile economies”, says Andy.  (Fewer than 2% of the population in sub-Saharan Africa is vaccinated.)  “However, I’m confident these countries will recover, and Africa will get back on track to be the fastest growing region in the world.”

While Kenya weathers Covid, Solar Panda is doing everything it can to stay the course by making its products more affordable for financially-strapped families.  It also launched a not-for-profit educational initiative to help Kenyan children with their studies when schools shut down.

Solar Panda is currently raising its first round of external equity to support its ambitious growth plans as economies recover and help manage the challenges of the pandemic.  Solar Panda is seeking a mission-aligned investor who not only recognizes the large business opportunity but is passionate about ending the injustice in the world that over a billion people still lack access to electricity.

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About Solar Panda: Solar Panda, headquartered in Canada and Nairobi, manufactures and sells Solar Home Systems that include lights, mobile charging, and a television through its network of 30 shops across Kenya.  Home solar kits are financed to customers to make them affordable, allowing them to pay small daily amounts for access to reliable electricity.  Solar Panda’s dedicated team stands alone in the industry with its high percentage of women (54%) in roles at all levels within the organization.  Now in more than 160,000 homes, Solar Panda is bringing clean, affordable electricity to 800,000 Kenyans. For more information, visit: www.solarpanda.com.

13 October 2021: Following a successful pilot project, InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a Shareholders’ Agreement and a Loan Agreement with Bonergie Irrigation SAS (Bonergie Irrigation) to continue supporting the scale up of the project. Under the new agreements, InfraCo Africa will hold a large minority shareholding in Bonergie Irrigation, committing an additional US$2.4 million to substantially scale up farmers’ access to high quality irrigation systems in Senegal.

It has long been recognised that reliance upon rain-fed agriculture exposes Senegal’s farmers to the effects of climate change on temperature and rainfall patterns.i In 2019, InfraCo Africa joined with solar equipment specialist Bonergie Senegal to establish Bonergie Irrigation, a local Special Purpose Vehicle, to pilot the implementation of over 100 high quality Solar Powered Irrigation Systems (SPIS).

InfraCo Africa’s CEO, Gilles Vaes, said of today’s announcement: “We are excited to continue working with our partners at Bonergie Irrigation to substantially scale up our offering to farmers in Senegal. Access to solar-powered irrigation systems will replace existing diesel pumps, providing farmers with a more sustainable solution to addressing the linked challenges of climate change and food security.”

The agreements signed today will see the commissioning, sale, installation and maintenance of at least 2,000 further pumps over the next three years. In response to feedback from the pilot, the project will also roll out over 500 drip irrigation systems (DIS) which are designed to optimise efficiency of irrigation whilst also protecting groundwater sources from over-abstraction. The systems come in a range of sizes to suit each farmer’s needs with hire purchase financing available to spread the cost, making the systems more affordable.

“Bonergie Irrigation SAS is very proud that InfraCo Africa has decided to develop a close partnership with us as a shareholder”, says Gabriele Schwarz, CEO of Bonergie Irrigation SAS. “Their tremendous experience will help us to supply a minimum of 2000 pumps and 500 drip irrigation systems to rural farmers in a sustainable way. The nexus of Water-Energy-Food is one of the main topics for the coming years and Bonergie Irrigation SAS and InfraCo Africa are in a perfect position to develop this market in Senegal.”

It is anticipated that Phase II of the Bonergie Irrigation project will be completed by the end of 2023 with InfraCo Africa continuing to support the project as a shareholder.

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About Private Infrastructure Development Group (PIDG): The Private Infrastructure Development Group (PIDG) is an innovative infrastructure project developer and investor which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals (SDGs). PIDG delivers its ambition in line with its values of opportunity, accountability, safety, integrity and impact. Since 2002, PIDG has supported 171 infrastructure projects to financial close which provided an estimated 217 million people with access to new or improved infrastructure. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia, Sweden, Germany and the IFC. For more information, visit: www.pidg.org.

About InfraCo Africa: InfraCo Africa is part of the Private Infrastructure Development Group (PIDG). InfraCo Africa seeks to alleviate poverty by mobilising private investment into high-quality infrastructure projects in sub-Saharan Africa’s poorest countries. It addresses the risks and costs of early-stage project development: funding teams of experienced developers and providing risk capital to those projects which need the financial commitment and leverage that InfraCo Africa can bring. InfraCo Africa is funded by the governments of the United Kingdom (through FCDO), the Netherlands (through DGIS) and Switzerland (through SECO). For more information, visit: www.infracoafrica.com.

About Bonergie Senegal: Established in Senegal in 2010, Bonergie enables people in West Africa to access energy for productive use for small and medium sized companies. The focus is on Agriculture, for which Bonergie provides solutions like Solar Water pumps and efficient irrigation systems, cold chain solutions and Solar dryers for the transformation of products. Bonergie installs also classical solar electrifications which helps the SME’s to run their business more profitable. Bonergie stands for high quality of all our products and components as well as in a network of technicians who ensure the steady operation of all systems. For more information, visit: https://www.bonergie.com/en/.

12 October 2021: Lendable Inc. ("Lendable" or the "Firm"), a leading emerging market fintech credit provider, is targeting a ground-breaking $100 million closed-ended fund focused on emerging and frontier market fintech investments.

The Lendable MSME Fintech Credit Fund (the "Fund") is designed to unlock access to financial services for over 150,000 Micro, Small and Medium Enterprises (MSMEs), providing investors with high impact exposure to important markets and the potential of high uncorrelated returns.

This Fund provides credit to African and Asian fintech companies, who in turn offer fair credit facilities to MSMEs. These same MSMEs are the engines of wealth creation, financial inclusion, and economic growth in these regions, yet historically have had limited access to fair credit and financial services.

Backed by leading impact and development financial institution (DFI) investors, the Fund today has soft closed a $49 million investment from DFC, EMIIF (DFAT), Calvert Impact Capital, Ceniarth, BIO, FMO and FSD Africa (FSDAi). Another $20 million is on track to close in the fourth quarter and the fund is expected to hard close above $100 million in 2022. This is a five-year blended finance closed-ended Luxembourg Reserved Alternative Investment Fund (RAIF), with FSDAi and EMIIF providing the first loss capital tranche.  

Combining West Coast technology with Emerging Market needs, Lendable's proprietary Risk Engine analyses live borrower data from its investee fintech CRMs, opening-up an unparalleled level of granularity across the entire loan book. It is this level of transparency, both on an individual loan and portfolio basis, that enhances loan underwriting and allows for more effective and efficient risk management. This technology has already proven its predictive power, by accurately forecasting the impact of adverse weather, election unrest, COVID-19 lockdowns, and other local events.

The Lendable MSME Fintech Credit Fund is Lendable's fourth fund and with the soft close takes the Firm's overall committed capital to over $200 million. Since inception (October 2016) to 31 August 2021, Lendable has delivered an annualised net return of 14.32% to investors.

"We have had an amazing response to this Fund and have brought on board an impressive slate of leading impact investors and DFIs who back our approach," commented Daniel Goldfarb, co-Founder of Lendable. "Through our fintech investments, we are providing essential working capital for MSMEs that enables off-grid customers to buy energy products and opens the door to innovative digital banking services to consumers. It is about making a high impact difference."

Chris Wéhbe, CEO of Lendable adds, "We are incredibly proud of our track record in delivering genuine impact and consistent high returns. With our additional fund raising we can grow our committed capital, which will allow us to expand our reach into new markets, where we have a targeted pipeline of investment opportunities."

Marnix Monsfort, Director Financial Institutions, FMO, added, "Emerging market fintech investment has a direct and highly important impact on regional development. Sadly, all too often, quality firms struggle to scale due to a lack of adequate, tailored capital. FMO is excited to partner with Lendable as its proposition directly addresses this issue by bringing new capital to the table combined with their strong record of delivering competitive risk-adjusted returns for investors."

Algene Sajery, Vice President of the Office of External Affairs and Head of Global Gender Equity Investments, DFC, concluded, "Our investment in the Fintech Credit Fund will help catalyze the next wave of commercial investment into emerging market fintech companies. Development finance institutions like DFC can play an outsized role in attracting different types of capital with different risk appetites to the sector. By supporting transformative fintech companies, DFC and our partners can achieve greater impact while expanding access to finance for underserved communities – particularly women – in emerging economies."

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About Lendable: Lendable is a leading debt finance provider to fintech companies across frontier and emerging markets that create access to new financial products and services for un- and under-banked populations. Lendable finances fintech companies that facilitate consumer and MSME credit, productive asset finance, payments, remittances, and digital marketplaces. From its offices in Nairobi, London, and Singapore, and using its proprietary technology and data, Lendable directly originates, structures, underwrites, and monitors all transactions. To date, Lendable has disbursed over $180m to fintechs in over nine countries.

• 1.3 million people connected to decentralized power
• Across 9 countries in Sub-Saharan Africa
• Impacting 6.5 million lives

6 October 2021: ENGIE Energy Access (EEA) is delighted to announce that within 1 year of integrating its decentralized energy businesses, it has considerably expanded its customer base and is now delivering safe and reliable solar energy to 6.5 million people in Sub-Saharan Africa.

EEA has acquired approximately 200,000 new customers across its 9 markets of operation in Africa throughout 2021, despite the challenges that COVID-19 created – bringing its customer base to more than 1.3 million. Key 2021 milestones achieved to date include a growth in customers in Uganda to 600,000, Zambia to 250,000, Benin to 150,000, and Mozambique to 50,000.

In April 2021, EEA began gradually rolling out its new solar home system (SHS) customer brand, MySol, replacing the Fenix Power and Mobisol brands. With MySol, EEA offers the widest range of PAYGo SHS throughout Africa and caters to all kinds of customers, from off-grid families lighting up with clean energy for the first time, to entrepreneurs running businesses of all sizes.

EEA has equipped 13 villages with its ENGIE PowerCorner mini-grids to date, comprising 3,000 households and 200 businesses. In the past year, it has successfully strengthened the mini-grid pipeline, securing over 180 additional projects – including 60 mini-grids approved in Zambia and 11 more in Benin. EEA is focused on continuing to build out the pipeline with 3 mini-grids under construction in Benin, Nigeria and Uganda, and more pilots on the way.

“I am pleased with the excellent results we have achieved within the first year of integrating our decentralized energy solutions companies. We have strengthened synergies between our solar home system and mini-grid businesses by decreasing costs, gaining in operational efficiencies and relying on strong digital tools, such as our PAYGo platform,” said Gillian-Alexandre Huart, CEO of ENGIE Energy Access.

“We have widened our approach from inclusiveness, to dedicating more efforts into productive usage. We are now at a stage where we provide a full range of complementary solutions: strong SHS offerings and a continuously expanding mini-grid business that is instrumental to reaching higher tier capacities and offering higher tier services. I am confident that we are well on track to impacting 20 million lives by 2025.”

Achieving access to larger funding will be key to EEA meeting its ambitious mission of impacting 20 million lives by 2025. EEA reached its first million customers in part due to the support of partners such as the European Union, and the Swedish and US governments.

Universal electrification is the seventh of the United Nations Sustainable Development Goals that the global community has committed to achieve by 2030. ENGIE is confident that universal access to energy is achievable in the foreseeable future, through smart investments in a combination of national grid extension, solar home systems and mini-grids.

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About ENGIE Energy Access: ENGIE Energy Access is one of the leading Pay-As-You-Go (PAYGo) and mini-grids solutions providers in Africa, with a mission to deliver affordable, reliable and sustainable energy solutions and life-changing services with exceptional customer experience. The company is a result of the integration of Fenix International, ENGIE Mobisol and ENGIE PowerCorner. It develops innovative, off-grid solar solutions for homes, public services and businesses, enabling customers and distribution partners access to clean, affordable energy. The PAYGo solar home systems are financed through installments from $0.19 per day and the mini-grids foster economic development by enabling electrical productive use and triggering business opportunities for entrepreneurs in rural communities. With over 1,700 employees, operations in 9 countries across Africa (Benin, Côte d’Ivoire, Kenya, Mozambique, Nigeria, Rwanda, Tanzania, Uganda and Zambia), over 1.3 million customers and 6.5 million lives impacted so far, ENGIE Energy Access aims to remain the leading clean energy company, serving millions of customers across Africa by 2025. For more information, visit: https://engieenergyaccess.com/.

30 September 2021: The German government will contribute €100 million to the African Development Bank’s Sustainable Energy Fund for Africa (SEFA), affirming its commitment to efforts to tap Africa’s renewable energy potential and drive its transition to clean energy sources.

The announcement came during the United Nations High-Level Dialogue on Energy, held in New York on 24 September as part of the UN General Assembly.  

The funding will go to unlock private sector investment in green-baseload projects, a SEFA priority focus. Specifically, it will support technical assistance and investment in power generation, transmission and distribution to increase penetration of renewable power in African grids. The funding follows Germany’s initial contribution to SEFA of €50 million, made in 2020.

Norbert Barthle, Parliamentary State Secretary of the German Ministry for Economic Cooperation and Development, said during the High-Level Dialogue: “We need to accelerate the global energy transition. This requires the rapid phasing out of all fossil fuels and a massive expansion of renewable energy. The time to act is now.”

The financing aligns with the G20 Compact with Africa launched during Germany's tenure of the G20 Presidency. The Compact promotes macroeconomic, business and financing reform to attract more private investment in Africa.  

Dr. Daniel Schroth, the Bank’s Acting Director for Renewable Energy and Energy Efficiency, said, “Germany’s new contribution is a major boost towards SEFA’s capitalization target of $500 million. It is also recognition of the catalytic role SEFA has been playing in accelerating Africa’s energy transition and supporting clean energy access solutions.”

SEFA is a multi-donor special fund that aims to unlock private sector investments that contribute to 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. SEFA has received contributions from the Government of Denmark, Germany, Italy, Norway, Nordic Development Fund, Sweden, Spain, United Kingdom and United States.

30 September 2021: FMO, NEoT Offgrid Africa (NOA) and Winch Energy Limited have invested c. US$12 million in mini-grid projects in Uganda and Sierra Leone, contributing to their global ambition to build the largest portfolio of mini-grids in Sub-Saharan Africa, and reach a portfolio worth US$100 million.

Thanks to this project, 49 villages in Sierra Leone and Uganda will be equipped with off-grid and remotely controllable solar solutions – Remote Power Units (RPU) – that will supply power to nearly 60,000 people. The RPU’s will be designed and manufactured by Winch Energy through their assembly facility in Sicily, Italy. In a second phase, 6,000 portable batteries will be deployed in these villages to serve people who live too far from the power unit. At the same time, partnerships with telecom operators will be established to guarantee Internet access for households.

Installation of the project has already started with the RPU’s for the first 13 villages shipped to Uganda. All 25 RPU’s are expected to arrive in Uganda before the end of 2021. An additional 12 village power plants are also already operational in Sierra Leone and providing customers with clean energy. The Uganda sites are expected to be operational in early 2022, while all 24 sites in Sierra Leone will be operational by Q2 2022.

This project contributes directly to the achievement of the Sustainable Development Goals (SDGs) set by the United Nations, including among others:

• Accessible and clean energy (SDG7) by electrifying villages which currently have a limited access to electricity mainly derived from fossil fuels;
• Climate Action (SDG13) by promoting power generation from solar energy and contributing to reduce greenhouse gas emissions.
• Decent work and economic growth (SDG8) by supporting local employment with at least 65 local permanent jobs created and many more during the construction phase.
• Poverty alleviation (SDG1), good health and well-bring (SDG3) and quality education (SDG4) through connecting businesses, schools and health centers to reliable and clean electricity
• Effective public-private and civil society partnerships (SDG17 “Partnerships for the goal”) with the involvement of both Uganda and Sierra Leone governments, international agencies as well as private sector actors.

Winch Energy IPP Holdings Limited (WIPP), where NOA is the main shareholder, is the new investment platform for those projects. FMO, the Dutch entrepreneurial development bank, has arranged a syndicated facility where FMO (through the Access to Energy Fund) and the Renewable Energy Performance Platform (REPP) – managed by Camco Clean Energy (Camco) - will lend to WIPP a first tranche of c. US$ 4 million for the portfolio of mini grids in Uganda and Sierra Leone. A second tranche of up to US$ 6 million is also included in the facility to finance future projects since WIPP plans to expand its operations in Sierra Leone, Uganda and to other countries.

Quotes from representatives of NOA, WEL, REPP & FMO

Huub Cornelissen, Energy Director of FMO said “Supporting renewable energy programs is key to FMO’s strategy, as lack of access to energy is one of the biggest barriers to development. Mini-grids are seen as essential to increasing access to electricity and, as such, are becoming part of FMO’s core strategic focus. Closing this first mini-grid debt transaction represents a major milestone for FMO and an important contribution to further develop the sector. The partnership with Winch and NOA proves that mini-grids can be financed at scale and efficiently by creating a cross-country portfolio of assets. The addition of a facility for future projects allows for scale and provides the developers with an efficient funding source for the deployment of additional mini-grids.”

Nicholas Wrigley, CEO of Winch Energy said: “We are obviously delighted with the closing of this debt financing from FMO and REPP Camco, which represents a landmark for the off-grid industry in Africa and Worldwide. This first tranche represents the beginning of our investment program with our partner NOA and soon to follow will be additional investments in Sierra Leone and Uganda and we are also targeting Nigeria and Ethiopia for 2022. The teams at Winch Energy and NOA have worked extraordinarily hard to bring about this innovative debt financing and for that I wish to thank them.”

Geoff Sinclair, Managing Director of Camco, said: “Solar-powered mini-grids have a vital role in enabling countries in Africa to meet their climate action targets while providing affordable, reliable and sustainable energy access to underserved rural communities. As REPP's investment manager we are excited to be participating in both Sierra Leone's and Uganda's first large-scale mini-grid programmes, which will serve as a template for the wider roll out of mini-grids in the surrounding markets."

Philippe Ringenbach, CEO of NEoT Capital, President of NOA, said: “NOA is very proud to participate in this ambitious project alongside Winch Energy and two of the most active lenders in African offgrid market. This transaction reinforces NOA's position as a leading provider of innovative financing in the renewable energy sector in Sub-Saharan Africa, which has huge potential and an equally huge need for financing.”

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About NEoT Offgrid Africa: NEoT Offgrid Africa (NOA) is an investment platform designed to support Africa's energy transition by addressing the issues of energy access. Founded and owned by Meridiam (as majority shareholder), EDF and Mitsubishi Corporation, NOA provides its partners with innovative financing solutions to remove barriers to upstream investment, deployment of new technologies and commercial risk management. NOA is managed by NEoT Capital, which is a company dedicated to supporting the energy transition to a carbon-free world. Founded by leading industrialists, NEoT creates and manages investment platforms that finance the deployment of zero-emission equipment based on innovative energy storage solutions. NEoT brings together a team experienced in financial structuring and clean energy solutions, and relies on international strategic partners to provide the financial and operational support needed to develop carbon-free solutions.

About Meridiam: Meridiam was founded in 2005 by Thierry Déau, with the belief that the alignment of interests between the public and private sector can provide critical solutions to the collective needs of communities. Meridiam is an independent investment Benefit Corporation under French law and an asset manager. The firm specializes in the development, financing, and long-term management of sustainable public infrastructure in three core sectors: mobility, energy transition and environment, and social infrastructure. With offices in, Addis Ababa, Amman, Dakar, Istanbul, New York, Luxembourg, Paris, Toronto and Vienna, Meridiam currently manages US$18 billion and more than 90 projects and assets to date. Meridiam is certified ISO 9001: 2015, Advanced Sustainability Rating by VigeoEiris (Moody’s) and applies a proprietary methodology in relation to ESG and impact based on United Nations’ Sustainable Development Goals (SDGs). For more information, visit: www.meridiam.com.

About Winch Energy Limited: Winch Energy is a global, off-grid renewable energy developer, operator and technology developer and integrator. Through its Remote Power Unit, the “RPU”, it provides a three utility solution for people around the world without access to electricity, internet or clean water. Winch Energy currently operates in five countries across Africa, with two key projects currently under construction in Sierra Leone and Uganda. Formed in 2008 by Nicholas Wrigley, who remains a significant shareholder, Winch Energy is owned by Winch Partners, Total Eren S.A., Al Gihaz Holding and Itochu Europe PLC. For more information, visit: www.winchenergy.com.

About REPP: The Renewable Energy Performance Platform (REPP), managed by Camco Clean Energy, works to mobilise private sector development activity – and investment – in small to medium-sized projects (typically up to 25MW). It is supported with £148m funding from the UK’s International Climate Finance through the Department for Business, Energy and Industrial Strategy (BEIS), and to date, has agreed contracts with 29 renewable energy projects across 16 countries, employing 7 different technologies, from SHS and PV mini-grids to on-shore wind and run-of-river hydro. For more information, visit: www.repp.energy.

About Camco Clean Energy: Camco Clean Energy is a specialist fund manager focused on renewable energy, climate finance and impact in emerging markets. We offer elegant and practical financing solutions to lead the clean energy transition, pairing the conscience of a development bank with the agility of a small private company. Camco manages REPP and in November 2020 was approved to become an Accredited Entity of the Green Climate Fund. The company has offices in Accra, Helsinki, Johannesburg, London, Nairobi and Toronto. For more information, visit: www.camco.energy.

29 September 2021: Husk Power Systems (huskpowersystems.com), the leading rural energy services company operating solar minigrids in Africa and Asia, concluded agreements to develop and operate seven minigrids with the Nigeria Electrification Project (NEP), which is funded by the World Bank and African Development Bank. The agreements, which were fully executed on September 15, fall under the Solar Hybrid Minigrid Performance-Based Grant (PBG) sub-component of NEP.

Signed by the Rural Electrification Agency (REA) and the company’s Nigerian entity, Husk Power Energy Systems Nigeria Ltd., the agreements marked an important expansion of Husk Power’s efforts to electrify rural communities and businesses across Nigeria and Sub-Saharan Africa. Husk already has more than 130 minigrids operating in India and Tanzania.

Husk Power’s solar hybrid minigrid projects will provide electricity to seven communities across Nasarawa State, with a total of about 5,000 connections that will benefit households, small businesses, medium-scale agro-processing and public institutions. The communities are in Doma Local Government Area (Rukubi, Idadu and Igbabo) and in Lafia Local Government Area (Kiguna, Akura, Gidan Buba and Sabon Gida).

”Husk Power’s mission is to rapidly scale the electrification of rural communities and continuously spur economic growth for medium, small, micro enterprises in Nigeria and across Sub-Saharan Africa,” said Olu Aruike, Husk Power’s country lead in Nigeria. “We are grateful for the leadership and support provided by the REA, and look forward to a long-term partnership in delivering power to all Nigerians.”

Added Husk Power’s co-founder and CEO Manoj Sinha: “I am very excited to see our partnership with REA coming to fruition. It will enable Husk Nigeria, under our strong local leadership team, to scale rapidly in Nigeria and achieve our ambition of catalyzing socio-economic development in rural communities across the country.”

The objective of the PBG program is to increase electricity access to unserved and underserved communities across Nigeria using solar hybrid technology. The agreement with Husk provides grants of US$350 per connection, with a minimum total grant request of US$10,000 per minigrid.

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About Husk Power Systems: Founded in 2008, Husk Power Systems provides access to clean, modern and affordable electricity in Africa and Asia by developing and operating renewable energy minigrids and adjacent energy services. Its customer-centric service matches the growing needs of households, businesses, and community services. The company’s grid-compatible solution also supports national electrification plans. For more information, visit: huskpowersystems.com.

29 September 2021: The Energy Entrepreneurs Growth Fund (EEGF) has completed its first three investments into distributed renewable energy (DRE) companies working in Sub-Saharan Africa, and signed a concessional loan agreement with the African Development Bank (AfDB) that allows the fund to continue releasing flexible capital into the sector, which is making a critical contribution to expanding energy access whilst addressing the climate challenge.

The EEGF was created in 2019 by Shell Foundation, co-funded with UK aid from the UK government, and the Dutch Entrepreneurial Development Bank FMO, to provide financing to early and growth-stage companies operating in the access to energy ecosystem in Sub-Saharan Africa.

Managed by Triple Jump and advised by Persistent, EEGF is designed to provide patient, flexible capital combined with technical assistance that is currently lacking in the DRE ecosystem. By predominantly providing mezzanine structures as well as equity and debt investments through tailored solutions it is able to meet the changing needs of growing DRE companies working to achieve Sustainable Development Goal 7 (“Ensuring access to affordable, reliable, sustainable, and modern energy for all”) by 2030.

Investments into three access to energy enterprises

Baobab+ operates in Senegal, Côte d’Ivoire, Mali, Madagascar and is currently expanding into Nigeria and the Democratic Republic of Congo, supporting underserved households and microentrepreneurs in gaining energy autonomy and digital access, a prerequisite for their financial inclusion. To expand its range to new products in Côte d’Ivoire, the company has obtained financing of EUR 2 million from EEGF. Despite the challenges presented by the ongoing pandemic Baobab+ maintained a growth rate of 60% in its “Pay as you go” (progressive payment) energy and digital distribution business in 2020, and the investment by EEGF denotes continued confidence in the company. Baobab+ Côte d’Ivoire will provide access to energy and mobile products to c. 300,000 households within 5 years.

Yellow is a leading Solar Home Systems PAYGo company operating in Malawi since 2018 and Uganda since 2019. The company predominantly distributes and finances solar home systems (SHS) to underserved households and micro-enterprises living off-the-grid. EEGF made a total commitment of USD 4.0 million to Yellow Solar and disbursed the first tranche of USD 1.5 million in local currency in June this year. By 2025, Yellow aims to cumulatively reach 600,000 households, providing 250 million additional light-hours for women in households and offsetting 700,000 tons of CO2eq*.

Redavia provides solar solutions that grant commercial and industrial (C&I) businesses in sub-Saharan Africa with access to clean, safe, reliable and affordable electricity, enabling local economic development while reducing greenhouse gases emissions. At the end of August, EEGF disbursed the initial tranche of a $3.7 million mezzanine investment transaction to Redavia. To date, Redavia has installed close to 90 solar units, for 7 MWp of solar capacity, with clients in Ghana, Kenya and Tanzania. In the next five years, Redavia expects to have installed over 85 MWp of solar power, generating 175 GWh of electricity, and offsetting 55,000 tons of CO2eq*.

“A just and inclusive energy transition, one that alleviates energy poverty and mitigates climate change, requires understanding the financing needs of entrepreneurs who we are depending on to deliver the world’s energy access goals,” says Sam Parker, Shell Foundation CEO. “We believe EEGF provides a new and attractive financing solution for the entrepreneurs, with its ability to deploy both mezzanine debt and equity. This provides patient capital tailored to the company’s needs, enabling them to become attractive targets for more established debt and equity markets.”

Supporting inclusive renewable energy deployment is key to FMO’s strategy, as the lack of access to energy continues to be one of the biggest barriers to development. EEGF’s mandate to provide flexible capital to early- and growth-stage companies in the access to energy space across Sub-Saharan Africa is proving to be increasingly relevant in a sector heavily impacted by the COVID-19 crisis. We are excited to see that EEGF can deliver on this mandate in these difficult circumstance, with its first three debt investments and the signing of a concessional loan agreement with AfDB.”, says Marina Pannekeet, FMO’s manager for Energy investments in Eastern & Southern Africa.

Concessional loan agreement with AfDB to support energy access companies through and beyond the COVID-19 pandemic

EEGF is partnering with the African Development Bank (AfDB) on the COVID-19 Off-Grid Recovery Platform (CRP) to provide soft financing solutions to businesses to mitigate the negative impacts of the pandemic and support strong recovery of the sector.

In August, EEGF signed a USD 6.6 million concessional loan agreement with AfDB as part of the CRP. Financial, economic, and operational challenges resulting from the pandemic have severely impacted energy companies, threatening their commercial viability. This patient and risk-tolerant capital provided by AfDB’s Sustainable Energy Fund for Africa (SEFA), will be blended with EEGF capital to provide loans on below market terms to mitigate the negative impacts of the pandemic and support a strong recovery of this emerging industry. The CRP funding comes at a critical moment for early-stage energy access companies affected by COVID-19 and allows EEGF to continue investing in the sector at a time when risk capital is increasingly scarce. AfDB-CRP contributions were blended in the investments into Yellow and Redavia.

Joao Duarte Cunha, Division Manager for Renewable Energy at the African Development Bank, said “We appreciate the close collaboration with EEGF to support the sector and maintain the course towards universal energy access by 2030. EEGF’s mezzanine debt offerings and extensive lending experience will contribute to providing diverse and tailored financial solutions to address the market challenges created by the pandemic and ensure the sector’s long-term viability”.

* CO2eq offsetting projections are based on modelled estimates

25 September 2021: Norfund, the Norwegian Government’s Investment Fund for developing countries, is investing €10 million in equity in Baobab+, the leading distributor of solar home systems in Western Africa and Madagascar.

The financing from Norfund comes at a time when Baobab+ has demonstrated its robustness despite the Covid-19 pandemic crisis: as of August 2021, Baobab+ had experienced sustained ≈ +60% yearly business growth.

Expanding presence in Africa

Baobab+, a panafrican group already present in Côte d'Ivoire, Mali, Senegal and Madagascar, has equipped 220,000 households and served more than 1,200,000 beneficiaries in the past 5 years. This funding will allow the company to strengthen its presence in its existing countries and deploy operations in Nigeria and the Democratic Republic of Congo. Baobab+ aims to equip one million households with solar and digital products within 5 years.

Access to energy and much more

For Norfund, this investment is an opportunity to support a sustainable company with a strong social impact. For Baobab+, access to energy is also a springboard to enable every African household to take part in the digital revolution. In the countries where the company operates, Baobab+ has been a pioneer in launching a smartphone offer with flexible payment. In partnership with local start-ups, Baobab+ offers additional content that meets its customers’ needs, such as e-education, health or the management of small business activities. To date, Baobab+ has equipped more than 90,000 households with digital solutions.

In addition, in partnership with its parent company, the Baobab microfinance group, a major player in access to financial inclusion in Africa, Baobab+ has developed a unique scoring framework that allows its Pay-As-You-Go clients to become eligible for a nano-credit, using their repayment history from the solar or digital product serving as their first credit experience. This proprietary solution, initially introduced in Senegal, will be gradually deployed in all countries.

Alexandre Coster, co-founder and CEO of Baobab+:

"I am very happy that Baobab+ is taking this next step, made possible by the incredible work done by our teams in the field over the past 5 years. We are fortunate to have Norfund at our side as we move forward. We share many common values."

Tellef Thorleifsson, CEO of Norfund:

“Increased access to electricity greatly improves the living standard of people living in rural or poor areas, and Baobab+ has proven its ability to deliver great impact through a sustainable business model. Norfund is looking forward to supporting the company in bringing affordable solar energy to even more households and expanding into new markets through our first investment in the solar home system space in Francophone Africa.”

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About Baobab+: Launched in 2015 and operating in six African countries, Baobab+ is a social enterprise that supports households and micro-entrepreneurs in their energy autonomy through the distribution of solar kits, with 220,000 households already equipped (1.2 million beneficiaries), particularly in rural areas. In addition to this primary vocation, the Baobab Group's subsidiary offers digital devices for educational and professional purposes, with more than 90,000 households (300,000 beneficiaries) already equipped. These products benefit from financing facilities to make them accessible to all. For more information, visit: www.baobabplus.com / www.baobabgroup.com.

About Norfund: Norfund is the Norwegian Investment Fund for developing countries. Our mission is to create jobs and to improve lives by investing in businesses that drive sustainable development. Norfund is owned and funded by the Norwegian Government and is the Government´s most important tool for strengthening the private sector in developing countries, and for reducing poverty. Norfund's committed portfolio amounts to USD 3.3 billion in sub-Saharan Africa, Southeast Asia and Central America. Norfund has four investment areas: clean energy, financial institutions, large-scale enterprises and green infrastructure. Clean energy investments account for about 50% of the portfolio and 50% of the portfolio is in sub-Saharan Africa. For more information, visit: www.norfund.no.

24 September 2021: Commitments of more than US$400 billion in new finance and investment announced; far more needed to address energy poverty and decarbonization of energy systems.

New multi-billion-dollar commitments to increase renewables and access to electricity and clean cooking technologies were announced today at a critical UN energy summit aimed at boosting efforts to reduce the ranks of nearly 800 million people living in energy poverty without electricity access while setting the world on a trajectory towards net-zero-emissions by 2050.

More than US$400 billion in new finance and investment was committed by governments and the private sector during the UN High-level Dialogue on Energy, the first leader-level meeting on energy under the auspices of the UN General Assembly in 40 years.

Over 35 countries -- ranging from Small Island Developing States to major emerging and industrialized economies -- made significant new energy commitments in the form of Energy Compacts. Additionally, several new partnership initiatives were announced, aiming to provide and improve access to reliable electricity to over a billion people.

The new commitments would result in large increases in the installed capacity of renewable energy and significant improvements in energy efficiency around the world -- leading to hundreds of new renewable energy facilities and the creation of millions of new green jobs.

The energy summit took place as world leaders grapple with the critical urgency to keep the 1.5 degrees temperature target of the Paris Agreement within reach, and cut emissions by 45% by 2030, while closing the energy access gap and providing more than one billion people who currently rely on harmful fuels with clean cooking solutions. The new commitments showcase the bold actions needed to meet the targets of Sustainable Development Goal 7 (SDG 7).

A ROADMAP TO 2030

In addition to the announcements of commitments, the Dialogue will also produce a global roadmap for action and timelines needed through 2030 to meet the targets for clean, affordable energy for all set out in Sustainable Development Goal 7, towards net-zero emissions by 2050 in line with the Paris Agreement on Climate Change.

The roadmap, which will be presented in the summary of the Dialogue by the Secretary-General, will call on governments, businesses and civil society organizations to close the energy access gap by 2030, and accelerate the clean energy transition by tripling investments in clean energy and energy efficiency by 2030. It also calls for phasing out coal by 2030 for OECD countries and 2040 for all others, and shifting fossil fuel subsidies to renewable energy investments, while creating new decent and healthy jobs and ensuring a just, inclusive transition. The roadmap draws on inputs from expert working groups and was discussed at Ministerial-level forums in June.

Recent reports from the IPCC and UNFCCC have shown that countries are not moving fast enough on climate action to avert disastrous consequences, and that even if countries met all their NDC commitments under the Paris Agreement, the collective impact would be only a fraction of what is needed to limit warming to 1.5 degrees Celsius.

In addition to mobilizing voluntary commitments, the Energy Compacts can help by encouraging countries to outline the detailed set of energy actions that they have planned to meet their targets and providing an avenue to build partnerships and resources. By engaging business, foundations, civil society organizations and other key players, the Compacts are advancing concrete multi-stakeholder solutions and partnerships needed to achieve greater impact.

FINANCE AND INVESTMENT

More than 150 Energy Compacts from national and local governments, businesses, foundations and international, civil society and youth organizations from every region were submitted for the Dialogue, reflecting actions and finance commitments through 2030.

Clean energy funding committed by national governments and the private sector in these Compacts amounted to more than $400 billion for access and transition. On top of this, several foundations and industry associations aimed to leverage large amounts of additional finance for SDG 7.

On energy access, national governments committed to provide reliable electricity to over 166 million people worldwide; private companies pledged to reach just over 200 million people; and a number of foundations and business associations promised to pursue partnerships to reach hundreds of millions of additional people.

Presently, close to 760 million people still lack access to electricity and some 2.6 billion people lack access to clean cooking solutions. It is estimated that the cost of closing the energy access gap is about $35 billion dollars a year for electricity access and $25 billion dollars a year for clean cooking. The annual investment in clean energy and energy efficiency required to achieve net-zero emissions by 2050 is estimated to be $4.4 trillion.

BOOST RENEWABLES AND ENERGY EFFICIENCY

Commitments under the Energy Compacts could also give a huge boost to renewable energy worldwide. National governments committed to install an additional 698 gigawatts (GW) of clean energy from solar, wind, geothermal, hydro and renewables-based hydrogen, and businesses, notably power utilities, pledged to install an additional 823 GW, all by 2030. Several partnerships and industry associations promised to mobilize an additional 3500 GW of renewables by 2030. One gigawatt is roughly equivalent to the output of 500 onshore wind turbines. The Energy Compacts also include commitments to save energy equivalent to more than 7000 GW by implementing efficiency measures.

The production and use of energy is also the main cause of the climate crisis, accounting for about 75 per cent of total greenhouse gas emissions and making decarbonization of the energy system essential.

A SIGNAL OF WHAT IS POSSIBLE

“The commitments coming through this process led by UN-Energy are a real signal of what is possible,” said UN Secretary-General António Guterres. “I am pleased to see several of the major emitters – countries and sectors – demonstrating leadership through the High-Level Dialogue process along with bold commitments to act.”

“Access to clean, renewable energy is, quite simply, the difference between life and death,” he added.  “We must solve these challenges this decade. And we must start today. Without deep and rapid decarbonization of our energy systems over the next 10 years, we will not reach the Paris Agreement goal of limiting temperature rise to 1.5 degrees. This will be fatal to the Sustainable Development Goals.”

“So we have a double imperative,” the Secretary-General said. “To end energy poverty and to limit climate change. And we have an answer that will fulfil both imperatives. Affordable, renewable and sustainable energy for all.”

Mr. Guterres also called for closing the energy access gap by 2030. “That means cutting in half the number of people without access to electricity by reaching 500 million people by 2025. And it means providing over 1 billion people with access to clean cooking solutions by 2025.“

THE WAY FORWARD

In line with the need to continue raising ambition, additional Energy Compacts are expected to be registered in the months ahead, including in the lead-up to the November Climate COP 26, as momentum grows and partnerships are expanded. Progress on the Compacts will be tracked through the 2030 target year, with annual reporting through a publicly transparent online database.

Under the leadership of its Co-Chairs, Achim Steiner, Administrator of UNDP, and Damilola Ogunbiyi, the Special Representative of the UN Secretary-General for Sustainable Energy for All, who have also served as Co-Chairs of the High-level Dialogue, UN-Energy will continue to spearhead transformational commitments and partnerships and sustain the momentum created by the Dialogue, including the Energy Compacts. UN-Energy brings together over 25 UN System entities and key partners for collaboration in the field of energy. Serving as the Secretariat for UN-Energy is UN DESA, under the leadership of Under-Secretary-General Liu Zhenmin, who also served as Dialogue Secretary-General. Given the global challenges at hand, UN-Energy will be further strengthened to help translate the global roadmap into concrete actions.

ENERGY COMPACTS submitted for the High-level Dialogue include the following:

GOVERNMENTS AND PARTNERS

• Denmark committed to reduce national CO2-emissions by 70% in 2030 (compared to 1990), have 100% of electricity from renewable energy by 2028, up-scale offshore wind by potentially up to 12 GW, phase out oil and gas extraction by 2050 and immediately end new licensing rounds; and increase climate finance to at least 500 million USD annually by 2023.
• Germany aims to reach a 30% share of renewable energy in gross final energy consumption by 2030 and increase the proportion of renewable energy in total electricity consumption to 65% by 2030, as well as supporting partner countries in expanding use of decentralized energy and innovative technologies such as green hydrogen and PtX. It will also provide 7 billion euros for speeding up the market rollout of hydrogen technology in Germany and another 2 billion euros for fostering international partnerships.
• India committed to increase renewable energy installed capacity to 450 GW by 2030, develop and implement a National Hydrogen Energy Mission to scale up annual green hydrogen production to ~1 MT by 2030, begin a Production Linked Incentive Scheme to add 10 GW solar PV manufacturing capacity by 2025, create 15 MMT production capacity of compressed biogas (CBG) by 2024, achieve 20% ethanol blending in petrol by Ethanol Supply Year 2025-26 and enhance energy efficiency in agriculture, buildings, industry and transport sectors and promote energy-efficient appliances/equipment to reduce India's emissions intensity of GDP by 33-35% over 2005 levels by 2030.
• For Latin America and the Caribbean, the RELAC Energy Compact commits that 70% of the installed capacity and electricity generation in the region will be from renewable energies by 2030. Governments participating include: Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Guatemala, Haiti, Honduras, Paraguay, Peru and Uruguay.
• The Pacific island nation of Nauru pledged to achieve 50% electricity generation from renewable sources by 2023 and a 30% improvement in energy efficiency by 2030, from a 2021 baseline, noting that full implementation of this Compact requires technical and financial support.
• Malawi, conditional on climate finance, targets to achieve universal access to cleaner cooking for households & institutions, phasing out open fires by 2030, with 2 million cleaner cookstoves reached 2021-2025 and an investment of more than $596 million. 
• The Netherlands Ministry of Foreign Affairs as well as over 25 Dutch businesses, NGOs and foundations will support access to clean cooking for 45 million people, access to electricity based on renewable energy for 100 million people, and a doubling of job opportunities in the energy transition for women and youth, all by 2030.
• Nigeria committed to electrify 25 million people across 5 million homes by 2023 using solar technologies and creating 250,000 jobs, and also to giving 30 million homes access to clean cooking and energizing agriculture, textile production, cold storage etc. using gas as a transition fuel.
• Sierra Leone’s commitments included: to increase the use of LPG to an adoption rate of 25% as an alternative to wood, ensure that all households have access to energy-saving cooking solutions, and Increase the efficiency of most biomass stoves to a minimum of 20% (Tier 2 stove efficiency).
• The United Arab Emirates commits to provide 100% of the UAE population with access to electricity by 2030 and primary reliance on clean fuels and technologies for cooking by 2030.  · UAE also commits to generate 2.5 GW from solar energy in the building sector by 2030.
• The United States commits to creating 35 million new electrical connections for households and businesses by 2030, as well as 80% of the US electricity power generation coming from clean sources. The US Government also put forward commitments to decarbonize the DFC investment portfolio and mobilize USD $25 billion in public sector commitments from Power Africa’s development partners and development institutions.

PRIVATE SECTOR

• Enel said it would reach 5.6 million new electricity connections by 2030, speed up its coal phase-out to 2027, triple renewable energy generation to 145GW by 2030 and provide more than 4 million EV charging points and 10,000 electric buses by 2030.
• The Spanish utility Iberdrola committed to double renewable capacity to 60 GW by 2025 and to provide access to electricity to 16 million people in emerging countries by 2030.
• The Italian company Graded SpA committed to invest 1.000.000 € in renewable energy, particularly in green-hydrogen development.

FOUNDATIONS AND COALITION-BASED ENERGY COMPACTS

• The Rockefeller Foundation announced that it was committing $1 billion in philanthropic capital, in partnership with the IKEA Foundation, to scale the distributed renewable energy sector in support of ending energy poverty and combatting the climate crisis. A new platform would aim to empower one billion people with access to reliable, distributed renewably energy and reduce global GHG emissions by up to one billion tons annually.
• The Health Facility Electrification Compact aims to provide 25,000 health facilities with sustainable access to a clean and reliable power source by 2025. Partners include: USAID/Power Africa, Shell Foundation, SEforALL, UNDP, UNICEF, IRENA, Denmark, GAVI, Power for All, Clinton Health Access Initiative, SELCO Foundation.
• The 24/7 Carbon Free Energy (CFE) Compact, led by Google and in partnership with a group of energy buyers and suppliers including governments, aims to transform global electricity grids to “absolute zero” or full decarbonization. Signatories commit to adopting and enabling 24/7 CFE, which means that every kilowatt-hour of electricity consumption is met with carbon-free electricity sources, every hour of every day, everywhere.
• The No New Coal compact includes the Democratic Socialist Republic of Sri Lanka; Republic of Chile; Kingdom of Denmark; French Republic Federal Republic of Germany; United Kingdom of Great Britain and Northern Ireland; and Montenegro committed to a No New Coal Compact, immediately ceasing issuance of new permits for unabated coal-fired power generation projects and cease new construction of unabated coal-fired power generation projects as of the end of 2021.
• The Green Hydrogen Catalogue so far consists of 29 Energy Compacts from governments, intergovernmental organizations, businesses and coalitions, with more expected. Commitments total 268 GW of new renewable energy capacity and 129 GW of new electrolyzer capacity by 2030, and will effect more than 25 million tonnes of green hydrogen.
• An Offshore Wind Energy Compact, submitted by IRENA and the Global Wind Energy Council, committed to achieve 380 GW of offshore wind, including fixed-bottom and floating offshore wind, installed worldwide by 2030, and 2,000GW by 2050.
• A Gender and Energy Compact was initiated by ENERGIA, GWNET and UNIDO, with Ecuador, Iceland, Kenya, Nepal and Sweden (SIDA) as government partners along with some 30 civil society and international organizations. The Compact aims for women to have equal opportunity to lead, participate in and benefit from a just energy transition, and to have equal access to and control over sustainable energy products and services, setting targets to achieve those outcomes.

Summaries and the complete text of all Energy Compacts registered are available online at https://www.un.org/en/energycompacts/page/registry.

Note: Numbers provided and summaries of commitments are solely based on Compact submissions. Compacts are highlighted for media purposes only; inclusion does not imply endorsement by the UN.

• Organizations join forces to reach a new level of impact and scale.

22 September 2021: Today Energy 4 Impact and Mercy Corps announced a merger to increase access to climate-smart, sustainable energy, improving the lives of millions around the world. 

“With the turmoil of climate change, conflict and COVID-19 unravelling many of the development gains made over the past decade and pushing millions more people into poverty, there has never been a more urgent time to help communities build back better with access to cleaner, more sustainable energy,” says Anthony Marsh, Chairman of Energy 4 Impact’s board of trustees. “Plus, innovations in renewable energy technology and more sophisticated private sector models means that clean energy solutions are better and more affordable than ever. Together, our organizations have the potential to reach a whole new level of impact and scale.”

Today, more than 800 million people lack access to energy globally, 8 in 10 of whom live in “fragile” states where communities also face a myriad of complex challenges related to conflict, weak governance, and insecurity, as well as the growing impacts of climate change. Mercy Corps and Energy 4 Impact will together create opportunities to increase energy access and use for the communities that need them most, and to integrate energy into sectors such as agricultural development, economic growth, youth employment, humanitarian recovery, and climate resilience. ​​The merger will enable Energy 4 Impact to both strengthen its position in its existing markets and develop new frontiers. 

“By bringing Energy 4 Impact’s proven expertise in building sustainable energy markets into Mercy Corps’ large and diverse portfolio of humanitarian and development programs, including in fragile states, we can develop sustainable solutions in contexts where they’re needed most,” says Tjada D’Oyen McKenna, CEO of the global organization Mercy Corps. “Energy access is key to unlocking people’s potential. It powers businesses and fires up economic opportunities, paving the route to greater stability and resilience.”

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About Energy 4 Impact: Energy 4 Impact is a UK-registered non-profit organisation seeking to reduce poverty in Africa by accelerating access to clean energy, helping businesses and communities make better use of that expanded access, and working with the private sector to support the sustainability of these efforts. Energy 4 Impact values access to energy not as an end in itself but for the difference it makes to people’s lives every day, in terms of agricultural development, economic growth, humanitarian recovery, and climate resilience. Supported by a small headquarters in London, Energy 4 Impact currently operates from regional offices in Kenya, Senegal, Benin, Tanzania, and Rwanda. Over the last 14 years, Energy 4 Impact has provided access to 18 million people in Africa.

About Mercy Corps: Mercy Corps is a global team of 5,600 humanitarians working to create a world where everyone can prosper. In more than 40 countries affected by crisis, disaster, poverty and climate change we work alongside communities, local governments, forward-thinking corporations and social entrepreneurs to meet urgent needs and develop long-term solutions to make lasting change possible. Mercy Corps has a total operating budget of $488M and last year reached nearly 37 million people.

21 September 2021: U.S. Development Finance Corporation (DFC) has invested $10 million in Nithio's Financial Intermediary, Nithio FI, B.V., an AI-enabled clean energy financing platform. Strongly aligned with DFC's climate-focused investments agenda, this investment enables Nithio to scale its data-driven financing to impact more than 3.5 million people by 2025 and drive climate change adaptation efforts in Kenya, Uganda, and Nigeria. The investment, joined alongside FSD Africa Investments and EDFI-ElectriFI, finalized Nithio FI's first round of $23 million. Nithio FI is a blended finance, permanent capital vehicle that is purpose-built to mobilize capital at scale.

Nithio continues to scale its lending operations in key growth markets. To date, Nithio has invested in four high-impact off-grid solar and microfinance institutions in Kenya and Nigeria, including VEP, Rafode, Winock, and A4&T Power Solutions.  Nithio has built a strong pipeline and looks forward to continuing to build strong partnerships with companies focused on providing solar energy for powering homes, businesses, and agricultural activities. These products not only bring clean energy access, they increase resilience to climate change.

"Nithio has created an innovative, data-driven solution that fills a large gap in the market to sustainably scale capital flows to the clean energy sector. By standardizing credit risk, Nithio's investments will have an outsized impact towards achieving universal energy access and combating the effects of climate change," said Bobby Pittman, Nithio Co-Founder and Founding Partner at Kupanda Capital.

As Nithio moves to its next phase of growth, the team thanks Héla Cheikhrouhou for her service as Chief Executive Officer and wishes her well in her return to the public sector as Regional Vice President for Middle East, Central Asia, Afghanistan, and Pakistan at the International Finance Corporation (IFC).

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About Nithio: Nithio is an energy financing platform powered by a proprietary AI-enabled risk analytics engine. Nithio developed its innovative approach to standardize credit risk assessments in order to unlock and scale energy access in Sub-Saharan Africa. Nithio advances energy financing at scale through its Financial Intermediary, Nithio FI B.V., which offers receivables-backed financing to off-grid energy providers in Nigeria, Uganda and Kenya. Driven by the Risk Analytics Engine, Nithio FI's innovative approach expands access to off-grid clean energy for households, micro businesses, and smallholder farmers. For more information, visit: www.nithio.com.

20 September 2021: EEP Africa has launched a new cohort of 26 projects promoting productive use of energy and circular economy in Southern and East Africa.

The new portfolio stems from a 2020 competitive call for proposals on Clean Energy Powering Green Growth. From among 357 applications submitted, 26 companies were awarded a total of EUR 8.3 million in financing for projects to be implemented in 12 countries across Southern and East Africa. The new grantees are mainly start-up companies (81%), with a significant share of locally-led (62%) and women-led (38%) enterprises.

“We see many clean energy start-ups developing sustainable solutions to stimulate green growth in rural communities. However, it is a well-known fact that there is a severe lack of flexible and early-stage financing for such innovators, especially for local and women-led companies. EEP Africa is proud to be one of the leading funders willing to take risks and catalyse investment in new technologies and business models.” – Jussi Viding, EEP Africa Fund Manager

The new portfolio demonstrates the growing trend of integrating energy services along the entire agricultural value chain. It includes projects that are bringing solutions to market in solar irrigation and cooling, agro-processing, waste-to-energy and e-mobility. Grant funding is needed to test and demonstrate new products and business models in these areas. It also allows companies to expand asset financing and financial inclusion, which increases uptake of productive use assets in last-mile communities.

The new projects aim to enhance access to energy for both household and productive use purposes. Collectively, they expect to create 2,600 new jobs (43% for women) and result in EUR 7.7 million in annual savings on energy-related expenditures. The call primarily attracted applications for stand-alone appliances and services, rather than large-scale power plants, but even so the new projects are projected to generate 25,000 MWh of clean energy per year and reduce or avoid 105,000 tonnes of CO2e emissions annually.

“Clean energy has a critical role to play in fostering sustainable rural economic development. Market entry for new products and technologies can be very challenging. EEP Africa serves as a catalyst to enable promising small and medium enterprises at the early stages of the financial growth cycle to test and refine their business models in view of becoming bankable.” – Henrik Franklin, Director of Portfolio Origination & Management, Nordic Development Fund

The new grantees join those funded under earlier calls, resulting in a combined portfolio of 67 companies working in 14 countries. The portfolio collectively reflects the incredible diversity of technologies, products and business models being utilised to advance a just clean energy transition in Africa.

Download the EEP Africa New Portfolio 2021 booklet.

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About EEP Africa: EEP Africa is an early-stage clean energy financing facility hosted by the Nordic Development Fund (NDF) with funding provided by Austria, Finland and NDF. EEP Africa is proud to support innovative projects that are catalysing sustainable and inclusive green growth and contributing to achievement of the Paris Climate Agreement and Sustainable Development Goals (SDGs).

15 September 2021: After a years-long partnership, ecoligo, the German climate solution leader will take over Namene Solar’s project business in West Africa.

The German company ecoligo, provider of a solar-as-a-service solution for companies in emerging countries, will add the commercial and industrial solar projects of Namene Solar West Africa, based in Ghana, to its rapidly growing portfolio of solar projects.

Namene Solar has been active in Ghana since 2015. During this time, they have developed and constructed pioneering solar sites in Ghana, including the 400kWp Central University solar system that was realized in partnership with ecoligo.

Namene Solar will focus its West Africa operations on scaling its global solar lights business. The lights division is growing rapidly, with leading NGOs and high-volume corporate buyers among its customer base, and an innovative climate financing scheme. While Namene Solar West Africa will remain part of the Namene Group, focusing on its successful lights business, Namene Solar’s West Africa power division will be acquired by ecoligo.

ecoligo’s acquisition of Namene Solar’s Ghana C&I business comes amid a rapid growth phase for the Berlin-based company, including new flagship projects in Africa and Vietnam as well as forthcoming entry into multiple new markets. With 3.7 MWp of solar power projects in the country already, ecoligo is thrilled to further grow its business in Ghana in pursuit of its mission to tackle climate change at the source.

“We are delighted to announce that ecoligo will be taking over Namene Solar’s C&I projects division in Ghana, ensuring continuity for our staff and customers whilst we focus Namene Solar’s West African operations towards our market leading small-scale solar lights offering. We are confident in the continued, successful growth of Ghana’s solar market, utilizing ecoligo’s expertise and solar-as-a-service model for emerging markets.”

Namene Solar Director, Jason Wallis

“With the effects of climate change growing everyday we know the time to act is now. This expansion of our project portfolio in Ghana dramatically increases the amount of CO2 emissions we prevent from entering the atmosphere and positions us to further grow our business in Ghana. Our unique solar-as-a-service business model has helped over 100 businesses to seamlessly move to affordable solar power. We are thrilled to provide the same high level of service and support to our new customers.”

ecoligo CEO and Co-founder, Martin Baart

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About Namene Solar: Namene Solar delivers solar power without limit. As a solar company, our purpose is to bring everyone, everywhere access to clean, affordable energy. We do this by connecting people to the sun to power their lives. As solar specialists, we provide solar solutions of all sizes. From our award-winning, portable SM100 solar light, to fully-financed end-to-end solar installations. For the growing number of people choosing to power their homes, lives, and businesses with solar energy, Namene Solar enables their transition. For more information, visit: www.namenesolar.com.

About ecoligo: Combining global reach and local expertise ecoligo is here to save businesses money on their electricity bills and save the planet while doing it. Their fully financed solar-as-a-service solution for businesses in emerging markets removes the barriers that prevent such projects from being realized. A one-stop-shop for clean, affordable solar energy, they handle everything from financing to installation and maintenance so clients can focus on running their business. Our projects support the local economy, save business money on electricity costs and CO2 emissions from entering the atmosphere, a win-win-win for us all.