Friday, 16 October

Dear <<First Name>>

REPP is well known for helping to open up markets where they haven’t previously existed, and the list of “firsts” is piling up impressively.  In this context, the first table was installed at the REPP-supported 7.5MW solar project in Mubuga, Burundi - the first independent power project in the country.  



It takes firsts and persistent follow through to generate results, but when we get it right it really works. Take solar more generally as an example. Only five years ago a MIT study found that solar power plants would need to halve in cost to be cost competitive with gas in California, but that not even this would be enough in Massachusetts.  Other studies said it would take a decade for solar to be cost competitive.  But earlier this week International Energy Agency (IEA) Executive Director Fatih Birol said that he saw solar becoming the “new king of the world’s electricity markets”.  

He made this remark as the IEA released its latest World Energy Outlook which found solar output is expected to lead a surge in renewable power supply over the next 10 years, with renewables accounting for 80% of growth in global electricity generation under current conditions.

It’s great to see such progress - both for Burundi and more broadly - and this provides hope that we can not just meet the Paris Agreement targets but keep global warming below the critical 1.5C.  But that isn’t cause for complacency - to get there quickly enough we need more action, and we need it now.  Thankfully the economics of solar, along with other clean energy technologies, gives us a great tailwind.

Cheers

Geoff Sinclair

West Africa

Benin: GE wins US$47 million contract to upgrade and build several new substations (Afrik21)
- The contract is funded by the Millennium Challenge Corporation and will finance the construction of four new stations and the upgrade of seven others.

Ghana: 6.5MW solar project is commissioned (GBA)
- The plant is located in Lawra in the upper west region of the country and will support socio-economic activities in the area.

Nigeria: President Buhari finalises Nigeria's membership in ATI (ATI)
- Membership provides African countries with additional trade and investment insurance capacity, which helps cushion against the economic impacts of COVID-19.

East Africa

Kenya: Construction of Menengai geothermal power plant completed (Afrik21)
- The new facility will add a further 105MW of capacity to the grid and was primarily supported by the AfDB who provided a US$108 million loan.

Ethiopia: Country's first geothermal power plant receives financial boost (Caj News Africa)
- US$1.55 million will be pumped into the 50MW Tule Moye project by the USDFC.

Southern Africa

Zambia: Shequity has provided an undisclosed amount of financing to Widenergy (Afrik21)
- The additional financing will allow Widenergy to expand their distribution operations and begin the roll-out of pressure cookers to women in rural areas.

Zimbabwe: Voltalia selected to build 12MW solar plant for gold mine (Afrik21)
- The plant will provide 27% of Blanket mine’s power needs and forms part of a broader push to minimise effects of load shedding.

Africa - general

General: AfDB claims sub-Saharan Africa’s mini-grid market is worth an estimated US$3.6 billion (New Times)
- Improved policy and regulatory frameworks is driving growth, together with technological innovations.

Rest of World

General: 18MW C&I rooftop solar project, claimed to be world’s largest, completed in the Netherlands (PV-Tech)
- The facility will benefit PVH Corp, owner of Calvin Klein and Tommy Hilfiger, and will power all of its on-site warehouses and also feed into the grid.

General: China pledges net zero emissions by 2060 (ClimateWorks)
- Country plans to reach peak emissions by 2030 and reduce them thereafter by 400GT CO2 per year.

General: World Energy Outlook outlines response to COVID-19 crisis (IEA)
- Report shows that more well-designed energy policies are needed to meet climate goals.

Off-grid: 75% of all investments in 2020 went to only three companies (Sun Connect)
- Recent GOGLA report highlights problems in the off-grid sector that are damaging smaller companies.

Currencies