IFC commits to renewables for mines

October 20, 2025

Dear subscriber,

Today, we stick to the old rule – follow the money. And indeed, renewables capital is doing just that, targeting small firms to major energy consumers. Enjoy the read.

– Sammy Jamar, Editor

French renewable energy developer Voltalia has partnered with the IFC to power Africa’s mines with clean energy. The agreement will deliver fully integrated renewable energy solutions, including hybrid solar-wind systems, battery energy storage, long-term power purchase agreements, and full construction and maintenance services.

  • Mining is among Africa’s largest energy consumers. In Zambia the sector accounts for over 50% of national electricity use. In South Africa, it draws 14-30% of the total energy supply.

  • Historically, mining operations have relied on costly diesel generators and fossil-fuel-powered grids. Falling renewable energy costs and improved technology now present a cheaper and more reliable alternative.

  • Our take: Mines are likely to prioritise hybrid systems combining solar, wind and battery storage to ensure reliability… Read more (2 min)

Tunisia has launched its first Green Economy Financing Facility (GEFF), a $69 million programme by the European Bank for Reconstruction and Development, the European Union and the Currency Exchange Fund. The initiative aims to accelerate Tunisia’s shift toward a sustainable economy by channelling green capital directly to the private sector.

  • It will provide loans to up to six local banks for on-lending to smaller businesses investing in energy efficiency, renewables, climate adaptation, and circular economy projects, hoping to cut carbon intensity by 45% by 2030.

  • The programme will offer forex hedging to ease currency risks, a major issue given the country’s volatile exchange environment.

  • Our take: Increased smaller business access to green finance could boost demand for locally made green technologies and drive green manufacturing… Read more (2 min)

Off-grid solar company Solar Panda has added 27 senior staff members over the past 12 months, according to LinkedIn data analysed by Renewables Rising. The firm now boasts 239 senior professionals on the platform, marking an 11% increase from last year. This is amidst rapid expansion, entering two new African markets within four months.

  • The company’s sales workforce is the 6th largest in our list of the top 30 energy firms on the continent. With 77 sales staff the company is pursuing an aggressive market penetration strategy targeting underserved populations.

  • Solar Panda was founded in Kenya in 2016 and began operations a year later.  This year it expanded to Senegal and Zambia.

  • Our take: Solar Panda is no longer a Kenya story… Read more (2 min)

Scatec ASA’s team discusses digital tools improving renewable energy at Solar & Storage Live Africa in South Africa

Events

📆 Sign up for the Power Energy Ghana Expo 2025 (Oct 30)

📆 Take part in the C&I Energy + Storage Summit Johannesburg 2025 (Nov 4)

📆 Attend the Youth in Energy Transition event (Nov 7)

Jobs

🛠️ Join Siemens Gamesa as a Technician (South Africa)

👷🏽‍♂️ Become Protergia Energy’s Commercial Project Manager (Nigeria)

👩🏻‍🔧 Lead technical project operations at Scatec Solar (Egypt)

Various 

☀️ Zambia boosts solar goals with a 16 MW plant in Copperbelt Province

🔋 Sierra Leone mining gets solar-storage microgrid from Canadian Solar

💵 POSB unveils $8.7 million financing for solar and Starlink in Zimbabwe

🌀 Egypt to offer 40% of Jabal El-Zeit Wind Power Plant on EGX this year

Seen on LinkedIn 

Jean Van Wetter, CEO of Enabel, says, "For too long, Africa has been treated as a recipient of aid rather than a partner in progress.”