The European Investment Bank (EIB) has approved a loan request from Northvolt that will see the bank provide a financing facility of up to US$64.8 million to support Northvolt’s pilot demonstration facility.
London-headquartered oil and gas company BP has announced plans to invest US$500 million (£358.5 million) in low carbon businesses each year as it looks to further embrace the low carbon transition.
A spokesman for S&C Electric has confirmed the company will no longer be producing its power conversion system (PCS) for energy storage systems but will remain in the market as a system integrator.
African Infrastructure Investment Managers (AIIM) has invested in Starsight Power Utility, a Nigeria-based energy services company providing solar-diesel-battery hybrid and efficient cooling and lighting solutions to its commercial and industrial clients.
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).
