Equity investment to back 150 MW of commercial solar in Africa

Norwegian developer Empower New Energy has secured $74 million of mostly public funds from investors and will top it up to build a $100 million, three-year cash pile.Empower New Energy plans to spend at least $100 million over the next three years to install more than 150 MW of solar and battery systems for more than 50 African businesses. The Oslo-based commercial and industrial (C&I) solar-leasing business raised $74 million from equity investors last week in a deal announced at the Africa Renewables Investment Summit in Cape Town, South Africa, according to a report published by the Africa ...

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