Travel restrictions imposed by countries in response to the coronavirus pandemic have contribution to a slowdown in investment in rural electrification projects. Thomas Hillig examines the extent of the investment freeze and possible solutions to get capital flowing into much needed projects again
Funding of US$47 million will back the installation of stoves and others for over a million people in Kenya’s remote, electricity-deprived communities.
US government development finance institution Overseas Private Investment Corporation (OPIC) has committed US$25 million in financing to a fund managed by off-grid solar firm SunFunder, which will provide loans to companies developing off-grid solar products and solutions for Sub-Saharan Africa and Asia.
SunFunder has established a US$1.2 million facility for Questworks, a Kenyan firm focused on developing a pipeline of commercial and industrial (C&I) PV projects within the country.
Solar finance company PEG Africa has raised US$13.5 million for household solar systems in Ghana and the Ivory Coast, which is expected to reach up to 500,000 people.
San Francisco-based SunFunder is a solar finance business with a mission to unlock capital for solar energy in emerging markets. It primarily aggregates investment capital through its beyond-the-grid and Solar Empowerment funds, thereby giving accredited investors the opportunity to invest in their on-grid and off-grid solar portfolio. Andrea Griffin, SunFunder’s vice president of global business development, stopped by PV Tech to discuss investment, currency risk and energy storage in West Africa.
