The Nigeria Sovereign Investment Authority (NSIA), the institution that manages Nigeria’s sovereign wealth fund, is allocating $24 million (10 billion naira) in funding for renewable energy. This investment is aimed at the deployment of more than 200,000 solar home systems in Nigeria. This is another step forward in renewable energy investment in Nigeria. The Nigeria […]

Impact investors All On and Katapult Climate are investing $1.4 million in NXT Grid. In Nigeria, the company installs and operates small-scale solar power plants for productive use, powered by artificial intelligence. NXT Grid’s assets will grow in Nigeria over the next two years. The solar mini-grid company is raising $1.4 million to fund its […]

Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc (Shell), has signed an agreement to buy 100% of Savion LLC (Savion), a large utility-scale solar and energy storage developer in the United States, from Macquarie’s Green Investment Group. With this acquisition, Shell expects to significantly expand its global solar portfolio. “Savion’s significant […]

ENGIE   has completed the acquisition of Abengoa’s indirect stake in Xina Solar One (Pty) Ltd. Following completion of the transaction, ENGIE will now hold a 40% equity stake in the Xina Solar One 100 MW Concentrated Solar Power (CSP) plant, as well as a 46% of the Xina Operations & Maintenance Company (Pty) Ltd. The […]

Daystar Power, the leading provider of solar power solutions to West Africa’s industrial manufacturers, announced that it has reached an agreement with SBC to install 10.5MW solar power systems for five of its factories across Nigeria. This will bring SBC’s total installed solar power capacity to 12MW, making it Nigeria’s largest industrial manufacturer to power […]

Investment fund manager Eiffel Investment Group is providing a €3 million bridge loan to ManoCap Energy. The financing will provide solar power to commercial and industrial (C&I) customers in Ghana and Sierra Leone. ManoCap Energy is raising €3 million for its projects in Sierra Leone and Ghana. This is a bridge loan signed with Eiffel […]

Bp reached an agreement today to purchase 9GW of solar development projects in the US from independent US solar developer 7X Energy. The acquisition represents a significant step towards bp’s target of growing its net developed renewable generating capacity to 20GW by 2025 and aim to increase this to 50GW by 2030. The deal will […]

ACWA Power, a leading Saudi developer, investor and operator of power generation and water desalination plants in 13 countries and the lead shareholder in the Redstone concentrated solar power (CSP) plant, announced the commencement of construction on the 100 MW Redstone project following achievement of financial close. At ZAR 11.6 billion total investment, the Redstone […]