The $122m project provides much needed green energy to Djibouti, which relies on fossil fuel imports to supply ailing power stations, and would have been near-impossible to build without using blended finance.
Husk Power Systems announced its ‘Africa Sunshot’ initiative at the Africa Climate Summit held in Nairobi. The goal is to have 2,500 net-zero mini-grids operating across the continent within five years.
CFM, a venture co-owned by FMO, has taken a 32% stake in Release, a Norwegian-owned developer of modular solar energy and battery storage solutions for mines and utilities in off-grid or poorly connected areas of Africa.
Last week’s European Sustainable Energy Week in Brussels covered everything related to renewables and efficient energy use, including the role of private capital in accelerating the transition to clean heating and cooling.
Backed by the Private Infrastructure Development Group and the Emerging Africa Infrastructure Fund, among other investors, the new plant marks a significant milestone for Africa’s energy transition efforts