Page 10 - AfrElec Week 26 2022
P. 10
AfrElec INVESTMENT AfrElec
EEGF invests in clean energy
financier Candi Solar of
South Africa, India
AFRICA THE Energy Entrepreneurs Growth Fund sustainable source of energy, enabling energy
(EEGF) has invested in Candi Solar, a clean infrastructure in emerging markets to be built
energy financier for commercial and industrial at scale.
businesses in South Africa and India, according The $120mn EEGF was established in 2019
to a release by the fund’s manager. by the Shell Foundation and FMO to provide
EEGF, Netherlands-headquartered Tri- financing to early and growth-stage companies
ple Jump said on June 27, invested through a that promote access to clean energy in sub-Sa-
convertible loan, which will be instrumental haran Africa.
in supporting the company’s strong growth “As of March 2022, [Candi Solar] had a con-
momentum and will allow Candi Solar to con- tracted capacity of over 33 MWp, with 17 pro-
tinue financing projects across South Africa jects across South Africa,” said the release.
prior to the close of its Series B equity round. “Over the period 2022-2024, candi aims to
The convertible loan, whose sum was not cumulatively reach 13,900 beneficiaries via over
specified, is expected to provide additionality by 1,400 solar installations, offsetting 108,563 tons
enabling candi to access further capital. of CO2eq (impact projections based on esti-
Candi Solar has been operating since 2018, mates modelled by Triple Jump). The company
initially in India and, since late 2019, in South also implements battery storage solutions and is
Africa. It aims to provide simple and efficient exploring expansion into additional sub-Saha-
solutions for companies to take advantage of ran African countries.”
solar energy and gain both a more reliable and
Bad weather sees 500MW
Sudan power plant go offline
SUDAN A 500MW thermal power plant in Sudan’s White have hit Khartoum and other Sudanese cities in
Nile state is out of commission after a pylon col- recent years. As of 2021, only about one-third of
lapsed during bad weather, the Sudanese Elec- its 45mn population has access to power, and the
tricity Transmission Company announced on country faced an average deficit of 1,000MW.
June 29. Sudan’s military leader Abdel Fattah Bur-
The Um Debakir thermal power plant in the han declared a state of emergency in October
city of Rabak, West Nile State, was taken offline 2021 and dissolved the civilian government. In
when a pylon between Mashkour and Rabak fell response, the World Bank and the IMF froze
over. The affected power line sends electricity to $2bn in aid to Sudan and the US later also sus-
Jebel Awlia in southern Khartoum. pended $700mn.
According to the Ministry of Energy, the Protests since then have continued to call
pylon will be fixed in under a week. In the mean- for an immediate end to the civilian-military
time, Energy Minister Mohamed Abdallah power-sharing arrangement in Sudan and the
Mahmoud has made arrangements to compen- exclusion of the military from any political
sate for the current shortage with reserves from role. At least 97 people have died and hundreds
the Roseires power plant in Blue Nile state and have been wounded in the crackdown against
the Renk plant in South Sudan. demonstrations.
Frequent blackouts that often last all day
P10 www. NEWSBASE .com Week 26 30•June•2022
