The UK-headquartered renewable energy developer Solarcentury Africa has signed a five-year debt facility of up to $370 million with Standard Bank South Africa. It will enable the company to expand its merchant power portfolio across Southern Africa. The facility includes an initial committed tranche of $86.2 million, supported by Dutch development bank FMO. The funding will refinance loans for Solarcentury Africa’s operational merchant solar plants and finance the third 59 MW phase of the Mailo solar project in Zambia, taking its total capacity to 120 MW. Solarcentury Africa aims to own 500 MW of renewable energy assets across Southern Africa by 2030.
Chinese power electronics company Hoymiles plans to establish a solar inverter manufacturing facility in Oman. Under a recently signed term sheet with PCG Global and Hoymiles, the Oman Investment Authority (OIA) said the plan is to develop solar projects in Oman and set up a solar inverter factory to serve markets across the Middle East and North Africa region. The partnership is valued at OMR 38.45 million. It will support the localization of solar-related industries and expand opportunities for domestic production and exports. However, the proposed factory capacity is currently unknown.
Egypt’s National Council for Green Hydrogen has approved a one-year extension of its memorandum of understanding (MoU) with Saudi Arabia’s ACWA Power for its planned green hydrogen and ammonia project in the East Nile region. The project targets annual production of 66,000 tons of green hydrogen and 500,000 tons of green ammonia, powered by solar and wind power plants. The latest extension allows the company to retain access to the allocated land for another year.
Separately, the council approved Ocior Energy’s request for a 12 km² site in West Zaafarana for a 600 MW solar power plant. The facility will supply electricity to the pilot phase of its green ammonia project, which targets initial production of 100,000 tons annually. The wider project aims to progressively increase production capacity to 1 million tonnes per year. Ocior Energy is owned by Jakson Green of India.
MISA Group, a Geneva-based investment group, is leading the development of the Guruve-Mazowe (Chikonyora) Hybrid Renewable Energy Project in Zimbabwe. It is developing the project through its renewable energy subsidiary Modaso Energy, in partnership with Zimbabwean developer Tatanga Energy. The $300 million project will combine 128 MW of wind power, 100 MW AC of solar PV, and a 50 MW/100 MWh battery energy storage system (BESS). The project will have a single 100 MW grid connection and is expected to generate around 550 GWh of electricity annually.
ZESA, Zimbabwe’s national utility, is expected to be the primary power offtaker, while Africa GreenCo has signed preliminary terms to purchase a share of the electricity under a long-term agreement. The company targets mid-2027 to achieve financial close, with construction expected to begin thereafter and commercial operations scheduled for 2029. MISA said the project is expected to strengthen Zimbabwe’s electricity supply while reducing dependence on rainfall and hydropower generation.
PNE Group, a Germany-based renewable energy project developer and operator, has sold a 250 MW solar PV project in South Africa’s Free State province to an unidentified local independent power producer (IPP). PNE South Africa will continue providing development support until financial close. PNE’s South Africa project pipeline stood at approximately 2 GW of solar PV and 2.8 GW of wind capacity as of June 2026.
PNE recently lowered its full-year EBITDA guidance to between €60 million and €75 million due to delays in project transactions and permitting. The company expects to realize the delayed projects in 2027. It has also secured permits for 13 international solar projects totaling 335 MW this year.
The European Bank for Reconstruction and Development (EBRD) is considering a financing package of up to €24 million for a 50 MW solar PV project in Côte d’Ivoire’s Hambol region. The Katiola project, being developed by Katiola Solar Power SA, a joint venture between Africa-focused renewable energy developer Aeolus (51%) and French utility EDF (49%), will include associated transmission infrastructure. French development finance institution Proparco will provide an additional €24 million in parallel financing. The total project cost is estimated at €54 million.
AXIAN Group has joined forces with the Caisse des Dépôts et Consignations du Bénin (CDC Bénin), the International Finance Corporation (IFC) and Proparco to finance a 62 MW solar PV project in Benin. The project will be Benin's first independent power producer (IPP) solar project, says the IFC. The partners have signed €30 million in financing agreements for the IPP50 project, which will involve the construction of four solar power plants in Natitingou, Djougou, Parakou, and Bohicon. The total project cost is estimated at €45 million, with IFC and Proparco jointly providing the financing, and IFC also mobilizing resources from the Clean Technology Fund.
The plants are expected to generate around 110 GWh of electricity annually. Electricity will be sold to the state-owned utility Société béninoise de production d'électricité (SBPE) under long-term power purchase agreements (PPAs), with commercial operations scheduled to begin in Q1 2028.