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The fund will help to finance the development of a range of energy solutions. (Image source: Adobe Stock)

Camco, a climate and impact fund manager, has reached first close for its new REPP 2 debt fund

The fund aims to deliver significant climate, economic, and gender impacts while ensuring sustainable returns for investors in Africa’s renewable market. It is structured as a blended finance vehicle to leverage public and private investors to invest in sub-Saharan Africa’s distributed and small-scale renewable energy market.

With backing from the Green Climate Fund (GCF), Norfund, FMO, BIO, Ceniarth, and the Renewable Energy Performance Platform (REPP), Camco reached first close on US$107mn for the REPP 2 debt fund to invest in the African grid of the future. There is also a further US$78mn committed that is subject to conditions.

“Africa’s energy transition is happening. It is critical to invest in the businesses building the African energy grid of the future, which is decentralised, renewable and reliable,” remarked Ben Hugues, REPP 2 director at Camco. “This requires significant and urgent scaling up of finance to enable innovative companies to scale and generate both attractive returns and significant climate impact. It is so exciting to have so many world-leading investors on board who share our vision for Africa’s future and recognise the critical role of blended finance in the sector.”

REPP 2 is dedicated to supporting the decarbonisation of the African energy system while contributing towards closing the US$22bn annual investment gap. Across its lifetime, the fund aims to facilitate the addition of 330MW of new capacity and will provide clean energy access to more than 7.7 million people.

“The Green Climate Fund is proud to be supporting REPP 2,” said Kavita Sinha, private sector facility director at the GCF. “By catalysing innovative business models and capital for clean energy solutions in a region most vulnerable to climate change, we are not only advancing the region's sustainable development, but also contributing to global efforts to combat climate change. This commitment represents a significant step forward in building a low-carbon, resilient future for the communities of sub-Saharan Africa while unlocking new opportunities for economic growth and energy access.”

Diane Isenberg, founder and managing director of Ceniarth, added, “As a private investor in the energy access sector for the past decade, Ceniarth has seen firsthand the opportunities and challenges in bringing reliable electrification to underserved communities in Africa. We are proud to be supporting Camco as the firm brings the right mix of hard-earned experience and expertise to finance the deployment of a range of energy solutions, from solar PV mini-grids to grid-connected projects, at scale.”

The new collaboration will provide a wider offering to customers across the MEA region. (Image source: Jubaili Bros)

Jubaili Bros, a leading supplier of power generation solutions and services, has collaborated with MWM, a provider of sustainable gas gensets, to provide large, gas-fuelled electrical power solutions across the Middle East and Africa

“We are excited to partner with Jubaili Bros, a trusted and respected leader in the power generation market,” said Rene Ludvik, commercial director of MWM. “This new cooperation will provide customers even better access to MWM’s highly efficient gensets and services throughout the life of our products.”

The partnership will be built around MWM’s expertise in gas engine and gas genset technology as well as the extensive engineering and aftersales network. As a result of the collaboration, Jubaili Bros will offer MWM gas generators with 42% and above efficiencies ranging from 400 to 4,500kW electrical that are suitable for a range of applications.

“We are delighted to join forces with MWM, a world-renowned leader in gas engine and genset technology, to offer our customers in the region best-in-class gas generators allied to our leading aftersales experience,” added Marcus Schumacher, group CEO of Jubaili Bros. “We have a long history of providing reliable and customised power solutions to our customers, and we are confident that this collaboration will enable us to meet the growing demand for gas powered generators in the region.”

In addition to support from AfDB, the project is expected to receive further financing from a consortium of development finance institutions (DFIs), banks and financial institutions. (Image source: AfDB)

The African Development Bank (AfDB) has approved a loan of up to US$170mn to support the 1.1GW Suez Wind Project in Egypt

The initiative is the largest of its kind in the North African country and represents a total cost of around US$1.1bn. Awarded the Golden License by the Cabinet of Egypt, the project has been recognised as a strategic initiative for the country and has been provided a set of incentives to accelerate its implementation.

“As the largest wind energy project in Egypt, this initiative exemplifies the scale of renewable energy potential across Africa,” said Wale Shonibare, the bank’s director of energy financial solutions, policy, and regulations. “It demonstrates how strong partnerships and innovative solutions can advance the energy transition and foster sustainable economic development.”

As per the proposed plans, a greenfield wind farm will be designed, constructed, operated and maintained along the Gulf of Suez. This will be across two sites, each with a 550MW capacity that will, together, generate around 4,111GWh annually to more than one million households. This is expected to reduce CO2 emissions by approximately 1.71mn tons, contributing significantly to Egypt’s climate commitments under the Paris Agreement.

"The Suez Wind Project is a landmark development that underscores Egypt’s leadership in renewable energy and the bank’s steadfast commitment to supporting transformative, clean energy projects across the continent,” commented Kevin Kariuki, vice president for power, energy, climate, and green growth at AfDB. “This project not only facilitates the Government of Egypt’s efforts to achieve 42% of renewable energy in its energy mix by 2030 but also drives local economic growth and strengthens regional energy security.”

Bboxx is championing the economic empowerment of Africa. (Image source: Bboxx)

Bboxx, a data-driven platform that aims to unlock access to clean energy and digital products across Africa, has signed an agreement with Amazon Web Services (AWS) to transform customer experiences and increase operational efficiency by integrating generative artificial intelligence (GenAI) into its Bboxx Pulse platform

AI will be utilised within the platform to analyse and summarise customer data, transaction history and product interactions to accelerate customer service processes, ultimately enabling Bboxx staff to respond to customer queries faster and contributing to improved satisfaction across the board. This will reportedly save approximately 5,000 customer service hours each month.

"Bboxx has always been at the forefront of deploying cutting-edge technology to improve the lives of our customers and to streamline our internal operations,” remarked Anthony Osijo, CEO of Bboxx. “Through this collaboration with AWS’s Generative AI Innovation Centre, we’re enabling our teams to serve our customers better, faster, and more efficiently, ultimately benefitting both our employees and our business as a whole.”

Sri Elaprolu, director of AWS Generative AI Innovation Center, added, “We are excited to see AWS's Generative AI Services being deployed across Bboxx's Pulse platform in 10 new geographies. The integration demonstrates how GenAI solutions can enhance operational efficiency and elevate customer experiences. By collaborating with Bboxx, we're proud to support their mission of transforming lives through clean energy and digital products. Enabling AI-driven innovations drive business growth, and create a positive social impact across Africa.”

According to Bboxx, this will be one of many planned innovations to further optimise customer service and operational efficiency and forms part of its broader strategy to leverage advanced data analytics in pursuit of long-term growth.

Africa in 2024 exemplified resilience and ambition, with strides in renewables, infrastructure development, and global energy partnerships. (Image source: Synergy Consulting)

According to Synergy Consulting, 2024 was the year that Africa showcased its potential as a critical player in the global energy market and highlighted its evolving energy landscape in light of the dual pressures of rising energy demand and climate goals

Renewable energy gains momentum

Renewable energy investments across Africa surged in 2024, driven by growing international interest and local commitments to clean energy. The solar sector saw notable consolidation as companies merged to scale operations and foster innovation. Countries like South Africa and Morocco led the way with major solar and wind projects, emphasising energy security and sustainability. Despite this progress, clean energy investments remained a fraction of what is required to meet the continent’s development goals.

Advancements in battery energy storage systems (BESS)

Battery Energy Storage Systems (BESS) are redefining their role within solar energy infrastructure, particularly in behind-the-meter installations. Previously regarded as supplementary backups, batteries are now central to efficient energy management. By leveraging advanced algorithms to forecast energy usage, batteries are used strategically to align energy supply with demand, optimising consumption patterns.

This evolution improves solar system performance and supports grid stability by mitigating peak load stresses. Additionally, standalone BESS is emerging as a cornerstone in utility-scale renewable energy developments. These systems are increasingly deployed to address electricity supply challenges, enhancing the integration of renewable sources while fostering partnerships between public and private entities. This shift highlights the growing importance of BESS in creating resilient, flexible energy systems.

Expansion of gas infrastructure

Natural gas emerged as a focal point for African energy strategies. Africa's gas-to-power market made significant strides in 2024, with increased investments in infrastructure and regional collaborations. Major liquefied natural gas (LNG) projects in Nigeria, Mozambique, and Senegal drove the sector’s growth, supplying both domestic grids and exports to Europe amid global energy shifts. Improved pipelines and storage facilities enhanced distribution, while public-private partnerships boosted the reliability of power supply in underserved regions.

This evolution emphasised gas as a transitional energy source, bridging the gap between fossil fuels and renewables while supporting industrial growth and energy security across the continent.

Innovations and regional cooperation

In 2024, Africa’s power pools – Eastern Africa Power Pool (EAPP), West African Power Pool (WAPP), and Southern African Power Pool (SAPP) – have advanced significantly in promoting regional electricity integration and market development:

1. Eastern Africa Power Pool: The EAPP has expanded its cross-border energy trade and refined its operational framework to facilitate real-time electricity exchanges. Leveraging renewable energy potential, it integrated markets across its member states, allowing surplus energy from renewable sources like wind and geothermal to be traded efficiently. This helped mitigate shortages in neighboring countries and reduced dependency on high-cost fossil fuels during peak demand periods;

2. West African Power Pool: The WAPP focused on bolstering regional grid infrastructure and implementing a day-ahead power market. This market structure encouraged competition among utilities and independent power producers (IPPs), driving down consumer energy costs. Significant investments were made in interconnections, enhancing the reliability of electricity supply across member countries while expanding access to cleaner energy sources;

3. Southern African Power Pool: SAPP witnessed increased participation from private sector IPPs, particularly in renewable energy. New interconnection projects improved cross-border electricity flows, ensuring better utilisation of surplus power in countries with higher generation capacity. SAPP also introduced new market platforms that allowed for shorter-term contracts, fostering flexibility and resilience in addressing power imbalances.

Overall, these developments have strengthened regional cooperation, improved energy access, and encouraged investments in sustainable energy solutions, laying the groundwork for a more unified and resilient power sector across Africa.

The road ahead

While progress in 2024 was encouraging, Africa's energy future requires accelerated investment and policy reforms. Strengthening public-private partnerships, fostering innovation, and ensuring equitable energy access will be critical to building a sustainable and inclusive energy landscape for the continent.

In conclusion, Africa in 2024 exemplified resilience and ambition, with strides in renewables, infrastructure development, and global energy partnerships. However, addressing financing gaps and improving energy equity remain urgent priorities.

This article is authored by Synergy Consulting IFA.

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