Friday, 10 December

Dear <<First Name>>

Providing clean, reliable and affordable energy access to island communities around the world is beset with challenges, and this is no truer than in the Pacific. Remotely located and without natural fossil fuel resources of their own, many island nations rely on costly and polluting fuel shipped in from afar, hindering economic development and contributing to climate change.
But it doesn't need to be this way. The largely untapped potential of the Pacific's natural resources offer a very different energy - and economic - future for islands. 
That's why we have launched TIDES, a blended finance platform to provide flexible financing to local renewable energy developers in the Pacific with the goal of catalysing investment in zero-emissions projects. The platform is still in its infancy, but we recently won early-stage support from Convergence and I am excited to see how TIDES develops in 2022. We’ve also co-hosted capacity building webinars with Pacific Trade Invest New Zealand (PCI NZ) to explore barriers to funding faced by clean energy developers - and how to ensure the bankability of their projects with outside investors.
I echo PTI NZ’s Trade Commissioner, Glynis Miller, who wrote this week that foreign direct investment (FDI) can act as a major catalyst to progress. Pacific island nations are rightly proud of their uniqueness and cultural heritage, but to capitalise on the funding opportunities that are starting to open up to them, then their businesses need to be, as Glynis puts it, “accessible, open and responsive to FDI”. Through that and the development of a strong, home-grown and bankable project portfolio, then I believe the Pacific’s clean energy future will start looking very bright indeed.



Managing Director, Camco Clean Energy

Story of the week

The Zimbabwean unit of Impala Platinum announces ZAR28 billion investment to develop a new mine and solar farm, and expand existing production.

West Africa

Gambia: US grants USD25 million for solar power electrification (Afrik21)
- Negotiations between the US government’s Millennium Challenge Corporation (MCC) and Gambian Authorities began at COP26.

Nigeria: Korea to provide USD12.4 million for solar mini-grids (Vanguard)
- The project aims to ensure a stable supply of power by constructing mini-grids in non-electrified rural communities near Abuja.

Togo: Sunna Design awarded USD45 million contract for clean energy (GlobeNewsWire)
- The French company will deploy 50,000 solar-powered street lights in rural areas.

East Africa

Burundi: AfDB and EU provide EUR45.7 million funding for electricity access (ESI-Africa)
- The project will involve KEC International constructing a Kamanyola-Bujumbura energy transmission line and new Bujumbura substation.

Malawi/Mozambique: Power line to connect the two countries (Afrik21)
- The power line will enable Malawi to import electricity from Mozambique.

Southern Africa

South Africa: UK Climate Investments commits GBP15 million to support renewables growth (ReNews)
- The funding will help Revego Africa Energy Limited to grow their clean energy portfolio.

Zimbabwe: Zimplats invests ZAR28 billion in solar solutions (News24)
- The project involves the construction of both a mine and a 185MW solar plant, as well as expanding the capacity of existing sites.

Africa - general

Africa: Green Engineering wins fourth edition of EDF Pulse Africa prize (Afrik21)
- The Burkinabe company won the competition thanks to its solar mill for flour production.

Africa: IRENA and ARE work to reduce the risks of investing in green off-grid (Afrik21)
- The pair are strengthening their partnership, with the goal of facilitating renewable energy deployment in rural areas.

Angola: Final investment decision signed by Eni SpA and Sonangol (MarketWatch)
- The contract will allow for the contruction of a 50MWp solar photovoltaic plant in the Namibe province.

Rest of the world

Solar: Global solar capacity to grow by 20% in 2022 (ReNews)
- Global installations will surpass the 200GW mark for the first time and total investment is expected to reach at least USD170 billion.

Share this newsletter!



This email was sent to <<Email Address>>
why did I get this?    unsubscribe from this list    update subscription preferences
Camco Clean Energy · 28 St John's Square · London, England EC1M 4DN · United Kingdom