Who funded renewables projects in October?

From the newsletter

Ahead of Arab investors, European and Chinese investors continue to be the dominant actors in large-scale investments in Africa’s renewable energy sector. Together, they accounted for more than 75% of the $19.6 billion in new funding announced in October. One new entrant, Italy’s Todini Costruzioni Generali, joined the market with a $1.78 billion hydro deal.

• Gulf nations are expanding their investments. Saudi Arabia signed a deal to fund a $292 million solar-powered desalination plant in Senegal. The Arab Energy Fund also led a $26.3 million investment in Egyptian startup Tagaddod.

• A shift by foreign governments from grants to loans is likely to reshape the sector. African governments must now focus on making their markets more investable to secure financing.

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