https://newsletter.en.creamermedia.com
Africa|Botswana|Building|Coal|Energy|Financial|Power|Projects|Renewable Energy|Renewable-Energy|Solar|Solutions
Africa|Botswana|Building|Coal|Energy|Financial|Power|Projects|Renewable Energy|Renewable-Energy|Solar|Solutions
africa|botswana|building|coal|energy|financial|power|projects|renewable-energy|renewable-energy-company|solar|solutions

Swedish, Danish funders invest in Southern African IPP

Sturdee Energy solar farm

Sturdee Energy solar farm

9th December 2024

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Sweden-based development financier SwedFund has partnered with Danish Investment Fund for Developing Countries (IFU) to accelerate renewable-energy development in Southern Africa.

As a starting point, the institutions will invest $44-million of direct equity to support Sturdee Energy’s growth, which is focused on clean energy solutions in South Africa.

The partnership seeks to bridge power supply and access gaps in the region, especially since Southern African countries often have limited access to capital for renewable-energy investments.

Sturdee is a leading independent power producer in Southern Africa, currently managing 31 MW of solar capacity in Namibia and Botswana. It is also building an additional 20 MW of capacity in South Africa.

Sturdee aims to deliver more than 600 GWh of renewable energy every year and reduce carbon emissions by 500 000 t/y. The company has more than 200 MW of projects nearing financial close across four countries.

IFU and SwedFund say the investment into Sturdee is a good strategic fit for the companies as it contributes to climate change mitigation by replacing coal power with renewable energy such as solar and wind.

Additionally, both institutions want to support the green transition and improve living conditions in developing countries, especially in Africa.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.175 0.266s - 209pq - 2rq
Subscribe Now