Standard Bank Backs Solarcentury’s Southern Africa Expansion
The UK-headquartered renewable energy developer Solarcentury Africa has signed a five-year debt facility of up to $370 million with Standard Bank South Africa. It will enable the company to expand its merchant power portfolio across Southern Africa. The facility includes an initial committed tranche of $86.2 million, supported by Dutch development bank FMO. The funding will refinance loans for Solarcentury Africa’s operational merchant solar plants and finance the third 59 MW phase of the Mailo solar project in Zambia, taking its total capacity to 120 MW. Solarcentury Africa aims to own 500 MW of renewable energy assets across Southern Africa by 2030.
Solar Inverter Factory in Oman
Chinese power electronics company Hoymiles plans to establish a solar inverter manufacturing facility in Oman. Under a recently signed term sheet with PCG Global and Hoymiles, the Oman Investment Authority (OIA) said the plan is to develop solar projects in Oman and set up a solar inverter factory to serve markets across the Middle East and North Africa region. The partnership is valued at OMR 38.45 million. It will support the localization of solar-related industries and expand opportunities for domestic production and exports. However, the proposed factory capacity is currently unknown.
Egypt Extends ACWA Power MoU, Approves Land for Ocior Project
Egypt’s National Council for Green Hydrogen has approved a one-year extension of its memorandum of understanding (MoU) with Saudi Arabia’s ACWA Power for its planned green hydrogen and ammonia project in the East Nile region. The project targets annual production of 66,000 tons of green hydrogen and 500,000 tons of green ammonia, powered by solar and wind power plants. The latest extension allows the company to retain access to the allocated land for another year.
Separately, the council approved Ocior Energy’s request for a 12 km² site in West Zaafarana for a 600 MW solar power plant. The facility will supply electricity to the pilot phase of its green ammonia project, which targets initial production of 100,000 tons annually. The wider project aims to progressively increase production capacity to 1 million tonnes per year. Ocior Energy is owned by Jakson Green of India.
MISA Leads $300 Million Hybrid Project in Zimbabwe
MISA Group, a Geneva-based investment group, is leading the development of the Guruve-Mazowe (Chikonyora) Hybrid Renewable Energy Project in Zimbabwe. It is developing the project through its renewable energy subsidiary Modaso Energy, in partnership with Zimbabwean developer Tatanga Energy. The $300 million project will combine 128 MW of wind power, 100 MW AC of solar PV, and a 50 MW/100 MWh battery energy storage system (BESS). The project will have a single 100 MW grid connection and is expected to generate around 550 GWh of electricity annually.
ZESA, Zimbabwe’s national utility, is expected to be the primary power offtaker, while Africa GreenCo has signed preliminary terms to purchase a share of the electricity under a long-term agreement. The company targets mid-2027 to achieve financial close, with construction expected to begin thereafter and commercial operations scheduled for 2029. MISA said the project is expected to strengthen Zimbabwe’s electricity supply while reducing dependence on rainfall and hydropower generation.
