popular articles

ENGIE secures $82 million loan to support its solar projects in South Africa

ENGIE receives $81.7 million funding from the AIIB to accelerate its renewable energy initiatives in South Africa, aiming to bolster its expanding solar portfolio on the continent.

Please share:

Energy company ENGIE continues its expansion in renewable energy in South Africa with a new financial boost. The Asian Infrastructure Investment Bank (AIIB) has approved a commitment of $81.7 million in a green loan totaling $545 million, aimed at expanding ENGIE’s portfolio of clean energy in this strategic region. This financing is part of a major co-financing effort involving the International Finance Corporation (IFC) and Proparco, both of which actively support sustainable investments.

The partnership with the AIIB is not new for ENGIE. Earlier this year, the company received funding for a 400 MW solar project in Gujarat, India, illustrating the growing cooperation between these financial institutions to accelerate the global energy transition. In South Africa, ENGIE has a portfolio of 1.6 GW of renewable projects under development, including solar and wind installations.

Objectives of the Green Loan in South Africa

With this loan, ENGIE aims specifically to support the development of several solar power plants, contributing to the growth of renewable energy capacities in the country. In mid-October, ENGIE marked the launch of its Graspan solar project in the Northern Cape province. This installation, with a capacity of 75 MW, is ENGIE’s second solar project initiated in South Africa this year, following the Grootspruit plant in the Free State.

Jean-Marc Turchini, Head of Corporate Financing at ENGIE, stated: “To accelerate the energy transition, significant resources and efforts are needed from numerous stakeholders. Our partnership with the AIIB is a significant contribution, and we are grateful for their support of these initiatives.”

A Strategic Expansion in Africa

The increased financial support from international institutions such as the AIIB and IFC reflects the growing commitment to developing renewable energy in strategic regions like Africa. South Africa, in particular, has identified solar energy as a key sector to diversify its energy mix, reduce its dependence on coal, and meet the growing demand for clean electricity.

Beyond solar projects, ENGIE has already committed efforts to wind projects and other renewable technologies in southern Africa. The recent commitments from the AIIB bolster the credibility of the group’s energy plans, which align with a sustainable development vision supported by solid financing and leading institutional partners.

Register free of charge for uninterrupted access.

Publicite

Recently published in

The United States plans to impose heavy tariffs on solar panels from four Asian countries, citing transnational subsidies supported by China.
Chinese group Das Solar begins construction of its first European factory in Mandeure, with an initial 2 GW capacity and the planned creation of 600 jobs.
Chinese group Das Solar begins construction of its first European factory in Mandeure, with an initial 2 GW capacity and the planned creation of 600 jobs.
EDP (Energias de Portugal) expands its German portfolio with a second 65 MWp photovoltaic complex. Carried out with Kronos Solar EDPR, this initiative supplies nearly 22,000 households and marks a step forward in its European growth strategy.
EDP (Energias de Portugal) expands its German portfolio with a second 65 MWp photovoltaic complex. Carried out with Kronos Solar EDPR, this initiative supplies nearly 22,000 households and marks a step forward in its European growth strategy.
Recurrent Energy launched operations of a 127 MW solar site in Louisiana, marking a strategic first entry into a state with strong industrial energy demand.
Recurrent Energy launched operations of a 127 MW solar site in Louisiana, marking a strategic first entry into a state with strong industrial energy demand.
AXIAN Energy has entrusted Voltalia and Entech with the development of a 60 MW solar plant combined with 90 MWh storage in the Kolda region, scheduled to be operational by 2026.
Atlas Renewable Energy has signed a power purchase agreement with Chlorum Solutions to power its chemical operations in Brazil with 24 MW of solar energy from the Draco complex.
Atlas Renewable Energy has signed a power purchase agreement with Chlorum Solutions to power its chemical operations in Brazil with 24 MW of solar energy from the Draco complex.
Kosol Energie has completed a 10 MW solar power plant in the Kutch desert, relying on GoodWe inverters to optimise energy output under extreme climate conditions.
Kosol Energie has completed a 10 MW solar power plant in the Kutch desert, relying on GoodWe inverters to optimise energy output under extreme climate conditions.
EDF Renewables and Power Sustainable secured financing for Desert Quartzite, a 375 MW solar power plant with storage, located in California and operational since December 2024.
EDF Renewables and Power Sustainable secured financing for Desert Quartzite, a 375 MW solar power plant with storage, located in California and operational since December 2024.
Catalyze has secured an $85 million tax equity investment from RBC to support the development of 75 MW of commercial and community solar projects across the United States by the end of 2025.
The New York-based developer has received permission to operate Troy Solar I, a 995 kW power plant connected to the Central Maine Power grid.
The New York-based developer has received permission to operate Troy Solar I, a 995 kW power plant connected to the Central Maine Power grid.
US manufacturer ES Foundry has signed a three-year, 150 MW supply agreement with a community solar developer to reinforce its domestic supply chain and support the expansion of the solar market in the United States.
US manufacturer ES Foundry has signed a three-year, 150 MW supply agreement with a community solar developer to reinforce its domestic supply chain and support the expansion of the solar market in the United States.
The Ethiopian Prime Minister’s visit to TOYO’s factory in Vietnam signals a new phase in energy cooperation with the Japanese group, focusing on industrial expansion in Ethiopia.
The Ethiopian Prime Minister’s visit to TOYO’s factory in Vietnam signals a new phase in energy cooperation with the Japanese group, focusing on industrial expansion in Ethiopia.
Niger is increasing its reliance on solar energy to offset the reduction in Nigerian electricity exports, a direct consequence of diplomatic tensions following the regime change in Niamey.
DTE Energy has begun construction of a new solar park to provide Ford Motor Company with 100% renewable electricity for its manufacturing sites in Michigan.
DTE Energy has begun construction of a new solar park to provide Ford Motor Company with 100% renewable electricity for its manufacturing sites in Michigan.
Fremont Township, located in Saginaw County, has secured $600,000 in public funding for its partnership with EDP Renewables North America to develop the Eagle Creek Solar Park.
Fremont Township, located in Saginaw County, has secured $600,000 in public funding for its partnership with EDP Renewables North America to develop the Eagle Creek Solar Park.
UK commercial and industrial solar specialist Atrato Onsite Energy has finalised a structured financing agreement with Barclays to support the expansion of its photovoltaic asset base.
UK commercial and industrial solar specialist Atrato Onsite Energy has finalised a structured financing agreement with Barclays to support the expansion of its photovoltaic asset base.
Matrix Renewables and rPlus Energies have completed the commissioning of Pleasant Valley Solar 1, a 261 MWdc project located in Ada County, Idaho, now the largest solar facility in Idaho Power’s network.
The first phase of the 500 MW photovoltaic project in Yingjisha has been commissioned, marking a key milestone in expanding solar capacity in the Kashgar region.
The first phase of the 500 MW photovoltaic project in Yingjisha has been commissioned, marking a key milestone in expanding solar capacity in the Kashgar region.
Groupe VALOREM secured €22mn in funding with Arkéa Banque to develop 63 rooftop photovoltaic plants in Nouvelle-Aquitaine and Occitanie, consolidating its model in a shifting French solar market.
Groupe VALOREM secured €22mn in funding with Arkéa Banque to develop 63 rooftop photovoltaic plants in Nouvelle-Aquitaine and Occitanie, consolidating its model in a shifting French solar market.
In Lopera, an agricultural village in Andalusia, photovoltaic plant projects plan to expropriate olive-growing land, sparking opposition from residents over the potential uprooting of 100,000 olive trees.
In Lopera, an agricultural village in Andalusia, photovoltaic plant projects plan to expropriate olive-growing land, sparking opposition from residents over the potential uprooting of 100,000 olive trees.
The Villognon power plant, finalised under the agreement with Urbasolar and GazelEnergie, will supply 30,000 MWh annually to Groupe ADP, completing a strategic deal to cover 10% of its airports’ yearly electricity needs.
ACEN Australia has raised EUR 456 mn to support its renewable energy projects in Australia, backed by 11 local and international financial institutions.
ACEN Australia has raised EUR 456 mn to support its renewable energy projects in Australia, backed by 11 local and international financial institutions.
Masdar and PT PLN (Persero) formalised two agreements to develop floating solar power generation in West Java and expand the Cirata project, operational since 2023.
Masdar and PT PLN (Persero) formalised two agreements to develop floating solar power generation in West Java and expand the Cirata project, operational since 2023.
Vesper Energy has launched operations at its Hornet Solar project, a 600 MW facility in Swisher County, generating over $100 mn in local tax revenue.
Vesper Energy has launched operations at its Hornet Solar project, a 600 MW facility in Swisher County, generating over $100 mn in local tax revenue.

Advertising