100 MW solar and storage project in Uganda: Uganda has approved the development of a 100 MW solar PV project, integrated with 250 MWh of battery energy storage system (BESS). Located in Kapeeka Sub-County of Nakaseke District, it will be delivered by EA Astrovolt, the East African development platform of US-based module manufacturer Energy America that will supply its modules. Ganymede Utilities will provide EPC services to commission the project. The project forms phase I of the country’s plan to deploy 1 GW of solar and battery capacity in the country under the Electricity Act, supporting the goals of Uganda’s National Energy Policy 2023. Under the Gazetted Policy Direction issued by the government, EA Astrovolt will carry out a feasibility study, and negotiate a power purchase agreement (PPA) with Uganda Electricity Transmission Company Limited (UETCL).
IFC backs polysilicon project: The International Finance Corporation (IFC) has approved up to $250 million financing for United Solar Polysilicon’s (USP) 100,000 tonnes per annum (TPA) solar-grade polysilicon manufacturing facility in Sohar Free Zone, Oman. This greenfield project is estimated to cost between $1.6 billion to $1.8 billion. The IFC has approved an A-loan of up to $200 million, and preferred equity of up to $50 million to USP’s parent company United Solar Holdings, and aims to mobilize up to $400 million through B-loans and/or parallel loans. The project is expected to produce enough polysilicon to manufacture 40 GW of solar modules globally, helping diversify Omani exports and catalyze the creation of a new solar PV ecosystem in the Gulf Cooperation Council (GCC) region. USP is founded by the former CEO of Chinese polysilicon major Daqo New Energy, Longgen Zhang, and is backed by private equity firm IDG Capital, Future Fund of Oman which is the sovereign wealth fund platform of Oman Investment Authority.
100 MW AC project in Tunisia on EBRD’s radar: The European Bank of Reconstruction and Development (EBRD) is considering senior debt financing worth €32 million for Scatec’s 100 MW AC solar PV project in Tunisia. The Norwegian company is working on the project in Sidi Bouzid Governorate. It has already passed the final review at EBRD and is now awaiting board approval. The project is part of the first 500 MW solar PV projects under the new 1.7 GW renewable energy program under the Concession Regime, which was competitively tendered in 2024. It will be executed by a special purpose vehicle (SPV) owned 50:50 by Scatec and Aeolus SAS, part of the Japanese conglomerate Toyota Tsusho Group.
800 MW awarded in Morocco: The Moroccan Agency for Sustainable Energy (MASEN) has reportedly awarded ACWA Power the rights to develop NOOR Midelt 2 and NOOR Midelt 3 solar projects with a combined 800 MW installed capacity. Both the projects comprise 400 MW solar PV capacity and 230 MW/620 MWh of battery energy storage system (BESS) capacity each. According to the local media reports, ACWA Power will develop these facilities on build-own-operate (BOO) basis under 30-year power purchase agreement (PPA). MASEN had earlier awarded 800 MW PV-CSP hybrid Noor Midelt I project to a consortium led by EDF Renewables in 2019 (see EDF Renewables Consortium Wins Morocco Tender).
Distributed solar in the UAE: Masdar and EDF Group joint venture (JV) Emerge has entered an agreement with the Emirates Development Bank (EDB) to jointly explore distributed solar projects in the UAE. Under the memorandum of understanding (MoU) signed, Emerge will identify and present potential financing opportunities for renewable energy projects. EDB will then evaluate and explore possible tailored financing solutions. It will be focused on the commercial and industrial (C&I) segment as the duo sees solar opportunity for manufacturers, logistics operators, and small and medium enterprises (SME) as these seek to lower costs and improve their business resilience.
