Friday, 26 June

Dear <<First Name>>

The impacts of COVID-19 have hit renewable energy companies hard, just as they have in almost every other sector. 

It has been humbling to see the sector, its financiers and advisers rally together to overcome the challenges and continue operations as well as possible. But the crisis is far from over and our continued resilience and support for one another is vital to ensure the sector survives and thrives in a very uncertain future.

Ever since the situation worsened, REPP has been expediting applications for support from affected investees. This week we are going a step further with the creation of a new debt service moratorium for all existing investees, and a new working capital facility for companies that meet our eligibility criteria. Please follow this link to find out more.

Cheers

Geoff

Managing Director, Camco Clean Energy

West Africa
 

Cameroon: World Bank approves US$385 million to finance regional power interconnections (ESI)
- Cameroon-Chad Interconnection Project will fully connect the two countries and allow for electricity trading.

Nigeria: Ikeja Electric records over 120,000 electricity meters installations (ESI)
- Meters installed between 2018 and June 2020 with a further 400,000 meters planned for the next two years, says company.

Eastern Africa

DRC: Government presses ahead with Grand Inga hydroelectric project (The East African)
- If completed the project could cover up to 40% of Africa's electricity needs.

Kenya: 40MW Kisumu solar PV plant to be operational by 2023 (Afrik21)
- Project has been approved by Epra with a US$0.075kWh tariff agreed with KPLC.

Kenya: Solar to meet 40% electricity needs of country’s largest dairy producer (PV-Magazine)
- New Kenya Cooperative Creameries will purchase power from a solar facility being built on one of its factories.

South Sudan: Solar-powered pump trial to empower farmers proves successful (ESI)
- More than 1,400 further pumps are now expected to be installed in Northern State by 2022 following Global Environmental Facility-supported trial.

Southern Africa

South Africa: 110MW Perdekraal wind farm on track for July completion (Engineering News)
- Arrival of the main transformer marks another important milestone.

South Africa: New renewables bidding round to be launched in 2021 (Engineering News)
- Latest round seeking to procure 2,000MW of new capacity.

Africa - general

Egypt: Country signs US$170 million electricity agreement with with AFD (Afrik21)
- The funding will be used to support the development of the electricity sector.

General: More businesses in Ghana and Kenya sign up for free solar leases (ESI)
- REDAVIA signs four new COVID -19 resilience leases across the countries.

Rest of World

Australia: Country’s first ‘renewable energy zone’ receives 27GW of applications (PV-Tech)
- First of three zones attracts 113 registrations of interest.

EU: Renewables uptake ‘driving down’ emissions (renews.biz)
- New renewable energy capacity has driven down GHG emissions 23% since 1990 with carbon intensity also significantly below peers.

General: Long-term strategies critical to recovery, according to World Bank (ESI)
- New World Bank report proposes a whole economy approach to achieving decarbonisation by 2050.

General: Jobs in renewable energy could reach 30 million by 2030 (Engineering News)
- IRENA indicates that with the right investment this figure is achievable.

Currencies