June 20, 2018

AfDB moves to propel solar energy development in Africa

14 March 2018, 03:18 | Melvin Schneider

AfDB moves to propel solar energy development in Africa

AfDB moves to propel solar energy development in Africa

"Using our high-performance Series 6 thin film modules and a plant design approach tailored to utility ownership values, we will contribute significantly to Vectren's commitment to deliver clean, reliable and reasonably-priced energy to its customers", said Eran Mahrer, vice president-markets, origination and government affairs for First Solar.

Indian solar sector attracted over Dollars 10 billion investment in 2017 as compared to USD 4 billion in the previous year, clean energy research firm Mercom Capital said today.

ISA, headquartered in Gurugram near New Delhi, is now a treaty-based intergovernmental organization that was established following the Paris Declaration as an alliance dedicated to the promotion of solar energy among its member countries. At least 23 out of these 27 projects for which India has offered financial assistance are in African countries.

During construction, the project will provide up to 250 jobs, many of which will be union labor, the partners note.

It is however, not yet clear when the actual construction will start; but according to the agreement all parties committed full support and noted that they were fully aware of the strategic importance of renewable energy, in particular solar power development towards the national social and economic development of Rwanda.

Meanwhile, on Rwanda's front, government this week signed a deal with Mara Corporation Ltd and SB Energy Corp to boost solar energy and universal access to affordable electricity.

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Winning projects were selected following a two-step review process that put under scrutiny 88 proposals by 30 developers, resulting in a weighted average award price for this solicitation is Dollars 21.71 per MWh of production over the 20-year term of the awarded contracts.

The parties agreed to coordinate support and initiate a solar power project development with storage facility.

This will help boost access to electricity through off grid solutions, said the Minister.

GE estimated that India could exhaust its proven resources within the next 25 years, but added that barely a quarter of the country's reserves have been explored.

Under the 7-5-2 plan, REG targets to connect all the households by 2024, while the productive users will have power by 2022, and the capital city in the next two years. "We need a new worldwide deal with the private sector, the global public sector and civil society as well".

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