Funding review: Solar and storage attract over 90% of new money

From the newsletter

China Energy Engineering Corporation emerged as the leading investor in September, contributing around 38% of the total $2.6 billion funding commitments. The EU ranked second with a $638 million pledge across nine African countries, followed by Standard Bank of South Africa, which closed a $400 million deal with power producer Mulilo.

• Standard Bank remains Africa’s leading bank in renewable energy investment, serving as lead arranger and underwriter for several major deals, including $300 million for CrossBoundary Energy and $870 million for NOA Group.

• Among renewables technologies, solar PV continues to dominate, and together with battery energy storage systems, they accounted for over 90% of total funding in September.

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