ZAR 575 million for Pele Green Energy: Johannesburg, South Africa-headquartered renewables firm Pele Energy Group (PEG) has raised ZAR 575 million ($31.4 million) from South African financial services group Nedbank and Norwegian investment fund Norfund. The equity raise was through Pele Energy Fund 1 with both investors as key limited partners and PEG as the general partner. PEG says this provides it the financial flexibility to scale its own renewable energy portfolio and expand its footprint in South Africa and the rest of Africa. It can accelerate project development, scale impact, secure new opportunities, and drive sustainable energy solutions. PEG operates as an independent power producer (IPP) through Pele Green Energy (PGE) and in research-led development for utility-scale renewable energy through Knowledge Pele (KP).
Distributed generation in Nigeria: Nigeria has established a new fund to support distributed renewable energy (DRE) solutions with a $500 million target. It is backed by the Nigerian Sovereign Investment Authority and the United Nations’ Sustainable Energy for All (SEforALL), according to a Bloomberg report. To be managed by African Development Bank’s (AfDB) Africa50, the fund will support the adoption of solar home systems (SHS) and mini grids, among other resources. In February 2025, the same publication also reported that Africa50 is setting up the 1st region-wide investment vehicle dedicated to off-grid power companies and plans a $500 million fund to invest in climate-friendly projects. Both these funds are part of the World Bank and AfDB backed Mission 300 that aims to supply electricity to 300 million Africans by 2030.
Masdar & EDF partnership: Abu Dhabi Future Energy Company Masdar and EDF Group’s joint venture (JV) Emerge will solarize the commercial properties of Alandalus Property Company in Saudi Arabia. Emerge will finance, design, build and maintain rooftop solar PV installations with a combined 3.4 MW capacity for the Hayat Mall in Riyadh, the Alandalus Mall and the Alandalus Mall Hotel in Jeddah for 10 years. The projects will be built on a build-own-operate-transfer (BOOT) model. Solar energy will help Alandalus lower its energy costs and lower its environmental impact. Emerge trades in Saudi Arabia as Al-Shorouk Sustainable Energy Company. It focuses on developing solar, storage and hybrid solutions in the Middle East.
Enlight’s PPA in Israel: Israel-based Enlight Renewable Energy has signed a 5-year power purchase agreement (PPA) with state-owned NTA, which is responsible for the Tel Aviv Metropolitan Mass Transit Network. The $22 million deal will help NTA to reduce its electricity costs significantly, and lower its annual carbon emissions. “The agreement drives Enlight MENA’s growth further after doubling our revenues in Israel last year to over $150m,” said Enlight MENA CEO Gilad Peled. The agreement was signed within Israel’s deregulated electricity market, which allows independent power producers (IPP) to sign bilateral sales agreements directly with customers.
Climate adaptation trade financing for JinkoSolar: Standard Chartered Bank (China) Limited has completed its maiden climate adaptation trade financing for Chinese solar manufacturer JinkoSolar. This will enable the Chinese company to support its PV module orders and projects in climate-challenged regions such as the UAE, Saudi Arabia, and Florida in the US. Standard Chartered China has issued a letter of guarantee for JinkoSolar’s n-type Tiger Neo PV module exports that meet climate adaptation standards.
SAR 28.5 million for 30 MW: Saudi Arabia-based commercial and industrial (C&I) solar installer and O&M service provider HAALA Energy has completed its Series A funding round with SAR 28.5 million ($7.6 million) raised. This includes SAR 18.5 million ($5 million) in equity and SAR 10 million ($2.67 million) in debt, led by the Fakeeh family office that owns a majority stake in healthcare group Fakeeh Care. It will enable the company to advance its growing pipeline of projects for tier I and repeat clients as it targets to complete 30 MW capacity over the next 3 years. HAALA was founded at the King Abdullah University of Science and Technology (KAUST) Innovation Cluster in 2017. It is in discussions to raise further capital in an external vehicle to expand on this target, the management added.
AMEA Power in Ivory Coast: UAE-based renewable energy company AMEA Power has started constructing a 50 MW solar PV project in Côte d'Ivoire (Ivory Coast). This Bondoukou Solar PV Plant, located in Bondoukou in the north-eastern region of Gontougo, will generate 85 GWh of clean energy annually. Financed by FMO and DEG, this $60 million project will be AMEA Power’s 1st operational asset in the country on completion. The renewable energy developer is also developing another 50 MW solar project in the African nation.
New partnership for clean energy: France’s TotalEnergies has signed a Framework for Action (FFA) agreement with Abu Dhabi’s Masdar and UAE’s EPointZero to drive access to clean energy in emerging markets and developing economies in Africa and Asia. While TotalEnergies will collaborate with Masdar to provide reliable and sustainable electricity to local African communities and seek clean energy opportunities in Southeast Asia, it will explore partnership opportunities with EPointZero in India through solar, wind and energy storage.
JA Solar modules in Ghana: Chinese solar PV manufacturer JA Solar has supplied its high-efficiency solar modules for a 507 kW rooftop-canopy solar power plant at Ghana’s National Information Technology Agency (NITA) Park in Accra. It was developed in collaboration with RIFE Energy Ghana and TINO Solution. The solar system is designed to generate 696,000 kWh/year to help NITA reduce its carbon emissions.