IFC, a member of the World Bank Group, and the government of Canada have formed a financial partnership that will utilise public funding to generate private sector investments to spur renewable energy, including energy storage, in Sub-Saharan Africa.
VC funding for energy storage projects increased significantly, while debt and public market financing remained “steady” during 2017, Mercom Capital has found.
Africa’s largest private equity firm has led a round of financing for Off Grid Electric to fuel the microgrid provider’s expansion in the continent, with investors including an arm of General Electric (GE).
Flow batteries will take another major step towards widespread bankability with Lockheed Martin Energy launching its own system before the end of the year.
Major oil company Shell and European utility ENGIE are among investors to have pumped US$20 million into Husk Power Systems, a developer of microgrids which is expanding its efforts in Asia and Africa.
Autarsys GmbH is planning to develop an energy storage system and PV project in Mam Rashan, a refugee camp in the Dohuk district of northern Iraq near the Syrian and Turkish borders.
A “hybrid power plant”, controlling the grid for an entire island and its inhabitants, has been created with the addition of a management and control platform from energy storage system integrator Greensmith.
Legislation proposed in Florida could see solar and energy storage become part of the go-to solution for providing energy resiliency against natural disasters and helping restore power in their aftermath.
