Scatec Closes Final Phase Of Major Solar Deal In South Africa; Zambia Scenario-based Smart PV & BESS Summit 2024 and More...
Scatec ASA , a leading renewable energy provider, has completed the second phase of its sale of parts of its ownership in the Kalkbult, Linde, and Dreunberg solar power plants to Greenstreet 1 Proprietary Limited, a subsidiary of the STANLIB Infrastructure Fund II, managed by STANLIB Asset Management. In this phase, Scatec received ZAR 433 million (USD 24 million) from the sale, bringing the total proceeds for the entire share sold to STANLIB to ZAR 921 million (USD 51 million). At the end of Q2 2024, the net interest-bearing debt related to these power plants was ZAR 939 million (USD 52 million). The total enterprise value of the transaction stands at approximately ZAR 1.86 billion (USD 103 million), with an enterprise value of USD 1.6 million per MW.
The “Lighting Up a Greener Zambia – Zambia Scenario-based Smart PV & BESS Summit 2024,” jointly hosted by LONGi Solar , PowerChina, and Huawei, was successfully held in Lusaka, the capital of Zambia. The event was graced by Mr. Peter Mumba, Permanent Secretary of the Ministry of Energy of Zambia, and Mr. Albert Halwampa, Director General of the Zambia Development Agency, who both delivered keynote speeches.
TotalEnergies and L’Ivoirienne d’Hévéa (IDH) have signed a partnership to develop a 5 MW solar photovoltaic power plant to supply IDH’s production site with green energy. This project aims to install more than 8,200 photovoltaic panels, reinforcing IDH’s commitment to sustainable development and the energy transition.?
At the 29th U.N. Climate Change Conference (COP29) in Baku, Azerbaijan, the International Finance Corporation (IFC), part of the World Bank Group, announced that its Board of Directors has approved an investment in Acumen’s Hardest to Reach (H2R) initiative. This project aims to bring clean and affordable energy to remote areas in Sub-Saharan Africa. It is the first blended finance initiative focused on providing solar energy systems to households in the most difficult-to-reach communities across Africa.