South Africa

With Cape Town-based The Sun Exchange’s cell-level solar leasing model now reportedly serving 19,000 micro investors, linking finance directly to carbon emission tonnage is another route to bringing PV investment to fruition across the continent.

The renewables business formerly known as Scatec Solar has added a 2.5 GW hydropower portfolio in Asia and sub-Saharan Africa and also added its first wind farm while reporting a consolidated loss of almost $43 million for the year.

The private-sector arm of the World Bank, which claims to leverage $3 of its own capital and $8 from third parties for every dollar invested in its blended finance funds, has attempted to quantify what devoting Covid recovery funds to green investment would mean for emerging economies.

The private sector arm of the multilateral development bank has offered a $200 million credit line to Nedbank, the first commercial bank in South Africa to offer a green bond, which it did on the Johannesburg Stock Exchange in 2019.

Spanish renewable energy company Abengoa will deploy a 3.5 MW solar micro-grid at a vanadium mining site operated by Bushveld Minerals in South Africa. The storage system will be provided by Austria-based storage specialist Enerox Holdings Limited.

With the International Energy Agency publishing its latest five-year clean energy forecast today, pv magazine takes a look at the solar content of the 162-page document.

The 24-day, digital 2020 Africa Energy Forum kicked off on October 20. The event brings together African energy sector officials to identify opportunities, air their views, form partnerships, and take the necessary steps to improve the industry. For solar, challenges in policy making, procurement processes and the effects of the Covid-19 pandemic were discussed, as well as emerging trends such as solar digitalization.

Econet wants to build commercial and industrial PV systems across its homeland, Kenya, Zambia and the Democratic Republic of Congo. South Africa-based investment firm Royal Bafokeng Holdings (RBH) has made a $20 million equity investment in these projects.

South African scientists have used a PV system to keep tomatoes in cold storage. They linked an air-cooling system and evaporative cooling tech to a 3.5 kW array and 12 batteries and tested it for 28 days in September.

The city’s executive mayor has said his officials are working with staff at the national Treasury to draw up a program for municipalities across the nation to turn to independent generators for electricity.