Renewables

Kofa Technologies expands Ghana battery swapping network

The project will deliver clean energy for two-wheelers. (Image source: Adobe Stock)

Kofa Technologies Ltd, a Ghanaian company providing clean and portable battery solutions, and PASH Global, a leading impact investor, have announced the expansion of Kofa’s battery swapping network in Ghana

This Special Purpose Vehicle (SPV) expansion is backed by a £2.35mn (US$3.04mn) commitment from Shell Foundation, co-funded with the UK Government through its Transforming Energy Access (TEA) platform. Shell Foundation and TEA are committing an additional £1.4mn (US$1.86mn) to support Kofa's e-bike asset financing, research on the impact of Kofa’s multi-use battery technology, and operating expenses.

The network is targeting a deployment of 6,000 batteries and up to 100 swap stations across Ghana, ensuring that energy is accessible anytime, anywhere, and promoting the transition to clean energy and the large-scale adoption of EVs in Africa. PASH also intends, in due course, to transform these swap stations to be fully powered by solar power, further increasing the impact of the station.

Clean energy for electric two-wheelers

The project aims to deliver reliable, affordable, and clean energy for electric two-wheelers while also supplying power to small businesses and homes that currently depend on small petrol generators—helping to displace these generators and significantly reduce reliance on fossil fuels. Preliminary analysis indicates that electric motorcycles in Ghana are already up to 20% cheaper to operate compared to internal combustion engine (ICE) vehicles. As battery prices continue to decline, these savings are expected to increase, further incentivising the shift to electric vehicles.

Speaking at the launch event, Lord Collins of Highbury, Parliamentary Under-Secretary of State (Africa) said, “Today’s announcement demonstrates the UK’s continued commitment to supporting clean energy initiatives across the world. This project not only fosters economic growth, it also strengthens the UK’s partnership with Ghana, contributing to a greener, more resilient future for Ghana.”

“The partnership between Kofa and PASH represents a powerful step forward in delivering sustainable energy solutions across Africa," said Kofi Owusu Bempah, founder and CEO of PASH Global. "With the strong backing of Shell Foundation and the UK Government, we are well-positioned to lead the charge in the e-mobility revolution, beginning with this transformative project in Ghana.”

“This initiative is a significant step toward cleaner, more sustainable energy solutions in Ghana. With the support of our partners, we are building a foundation that will not only benefit local communities and businesses but also serve as a model for clean energy innovation across Africa,” said Erik Nygard, CEO of Kofa Technologies.

MIGA-ISA solar facility launched

MIGA and ISA launch the MIGA-ISA Solar facility to enhance solar energy access with concessional financing, focusing on Sub-Saharan Africa. (Image source: Adobe Stock)

The Multilateral Investment Guarantee Agency (MIGA), a part of the World Bank Group, and the International Solar Alliance (ISA) have unveiled the MIGA-ISA Solar Facility, a multi-donor trust fund

This initiative, supported by the Indian government, aims to broaden global access to renewable energy.

The facility will integrate ISA’s technical expertise with MIGA’s financial mobilisation capabilities, creating an innovative approach to boost global solar energy adoption. It will provide concessional financing, including first-loss instruments and reinsurance, to enhance project viability and reduce the cost of MIGA guarantees. Additionally, MIGA and ISA will collaborate on launching new solar and distributed energy projects in eligible developing nations, with an initial focus on Sub-Saharan Africa and plans for worldwide expansion. This effort is part of a broader initiative supported by the World Bank Group and the African Development Bank to deliver 300 million new electricity connections in Sub-Saharan Africa by 2030.

Administered by MIGA, the facility will scale up guarantee issuances and attract private investment for solar and distributed energy projects, offering affordable risk mitigation solutions to support growth in ISA member countries. ISA has committed US$2mn in seed funding with a target to raise US$10mn for the facility, which is the inaugural program under ISA’s Global Solar Facility (GSF) aimed at raising US$200mn for African projects.

“MIGA is delighted to host the MIGA-ISA Solar Facility and support Sub-Saharan Africa in accessing reliable and clean electricity,” said Hiroshi Matano, MIGA executive vice- president. “The facility will attract private investment by providing risk mitigation and concessional financing, helping to lower costs and close the energy gap in underserved regions.”

To kickstart the facility, MIGA and ISA have already initiated a solar project in the Democratic Republic of Congo. This project is expected to cut operating costs by around 20%, leading to reduced tariffs for customers.

“ISA is excited to collaborate with MIGA on the facility to provide cost-effective guarantee solutions for decentralized solar projects in Africa,” said Ajay Mathur, ISA director general. “This is an important milestone in the roll out of ISA’s GSF. We look forward to delivering clean energy through this program to impact the lives of millions of Africans who remain off-grid to date.”

With approximately 675 million people lacking electricity access, and an anticipated 660 million remaining without power by 2030, the World Bank Group and African Development Bank are collaborating on a major effort to provide electricity to at least 300 million people in Africa by 2030.

WATT to enhance renewable energy portfolio in Nigeria

Empower New Energy has built a strong pipeline of energy projects across 12 countries in Africa. (Image source: WATT)

WATT Renewable Corporation (WATT), a provider of hybrid solar solutions, has secured US$13mn in funding from Empower New Energy, a renewable energy financier and co-developer, to advance renewable energy solutions and fortify its position as a leading provider of clean energy in Nigeria

Tunisian solar power plant reaches financial close

This is the first solar project to reach financial close under the concession regime in Tunisia. (Image source: AMEA Power)

AMEA Power, a growing renewable energy company, has reached financial close on a 120MW solar power plant in Tunisia which will become its first operational asset in the country when commissioned

Solar hybrid and battery storage plants delivered in Cameroon

The site teams at the inauguration. (Image source: Release by Scatec)

Released by Scatec, a flexible leasing agreement of pre-assembled and containerised solar PV and battery equipment has inaugurated two solar hybrid and battery storage plants in Maroua and Guider, Cameroon