SolarX gets funding to grow C&I portfolio in West Africa

From the newsletter

French-based energy investor Afrigeen has provided a $17.4 million loan to Mali-based SolarX to speed up the rollout of solar power for commercial and industrial (C&I) users in West Africa. The funding includes a short-term and a long-term tranche that will refinance existing assets and support new plants in Côte d’Ivoire, Senegal, Mali and Burkina Faso.

• The C&I solar market in Africa is experiencing significant growth, driven primarily by the need for reliable, cost-effective energy solutions amidst grid instability and rising fossil fuel prices.

• Kenya has more than doubled its captive power capacity (600 MW) in five years. South Africa has large wheeling projects. Growth is also gathering pace in West Africa, led by Nigeria and Ghana.

More details