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Friday, 21 January

Dear <<First Name>>

For a few years now, Camco has been helping to develop an exciting new financing facility to make it easier for SMEs in the Caribbean to access financing for energy efficiency and renewable energy projects. This week, the so-called Credit Risk Abatement Facility (CRAF) passed another milestone with the signing of a new master guarantee agreement with Development Finance Corporation (DFC) of Belize.

What this means is that, thanks to CRAF’s credit risk instrument, DFC will now be able to access credit enhancement (via partial credit guarantees) when lending to clients who would otherwise be unable to secure loans for investments in clean energy projects.

As DFC Chairman Henry N. Anderson put it at the signing ceremony, CRAF presents a “win-win situation” for investors and SMEs alike.

In other news, Camco’s Adam Fitzwilliam – who heads up our new energy financing platform, Spark Energy Services – took part in an interview with ESI Africa this week. The Q&A is filled with insights about the state of energy efficiency and captive solar in Sub-Saharan Africa’s commercial and industrial sector and the barriers that are preventing their growth, as well as what Spark is doing to unlock them. It’s well worth a read if you have a few spare minutes.

Cheers

Geoff Sinclair

Managing Director, Camco Clean Energy

Spark news
Spark head Adam Fitzwilliam interviewed by ESI Africa about the state of energy efficiency and captive solar for C&I customers in Sub-Saharan Africa.
Spark news
Spark introduces its very first partner, Energy Saving Solutions. The Kenya-based energy solutions provider worked with Spark to complete a rooftop solar PV project in Nairobi.
CRAF news
The Camco-supported financing facility takes a significant step as CARICOM Development Fund signs master guarantee agreement with Development Finance Corporation (DFC) of Belize.
Story of the week
Eiffel Investment Group partners with Finergreen to mobilise USD200 million. The funding will provide bridge loans to companies supporting electrification and the clean energy transition in Africa

West Africa

Nigeria: Electrification programme receives USD24 million grant (Afrik21)
- The NISA investment will finance the local assembly and deployment of 200,000 solar home systems.

Ivory Coast: Orange partners with Engie to turn main data centre green (TelecomTV)
- A solar plant will be constructed to provide around 60% of the centre’s daytime energy needs by generating an estimated 527MWh per year.

East Africa

Uganda: Engie and Equatorial commission joint project in Lowle (PoAndPo)
- The 600kWp mini-grid project will connect over 3,000 households and more than 700 businesses to the grid.

Uganda/Tanzania: Operation commences at the Kikagati hydropower plant (Afrik21)
- The new dam is located on the border between the two countries and has a capacity of 15.57MW.

Southern Africa

South Africa: Eskom’s proposal to raise electricity prices lacks support (ESI)
- In the NERSA public hearing, the Institute for Economic Justice claimed that the utility’s analysis lacks transparency in its reasoning for the 20.5% price hike.

Zimbabwe: UN SDG-Fund to inject USD45 million into renewable energy (ESI)
- The four-year program is expected to launch in April 2022 and will focus on catalysing investments in clean energy to accelerate the country’s progress towards achieving the UN’s Sustainable Development Goals.  

Africa - general

Africa: Eiffel Investment Group and Finergreen launch USD200 million fund (Afrik21)
- The initiative aims to increase clean energy financing in Africa by providing bridge loans to green energy providers.

Africa: Africa Go Green Fund loans Africa Bboxx USD5.5 million (AfricanReview)
- The loan will fund the deployment of solar home kits and LPG green cooking systems.

Africa: AFSIA’s Annual Solar Outlook 2022 indicates strong solar capacity growth (ESI)
- The association has estimated that the continent's total solar capacity by the end of 2021 had risen to 8.7GWp.

Africa: The solar sector could employ 3.3 million Africans by 2050 (EnergyDigital)
- A recent IRENA report shows that renewables can provide a significant base of employment and that an integrated energy transition policy framework could boost the economy by 6.4% by 2050.

Africa: UAE launches Etihad 7 programme to fund renewables projects (GulfBusiness)
- The programme aims to supply clean electricity to 100 million people by 2035 and help African nations to meet their rapidly growing energy needs sustainably. 

Rest of World

IEA: January 2022 Electricity Market Report released (IEA)
- The report shows that 2021 saw a 6% rise both in global electricity demand and renewable energy production.  

IRENA: Leaders gather to develop global climate change plan (IRENA)
- The meeting concluded that commitments from COP26 must be translated into renewable energy targets.

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