AfrElec - Africa Power Monitor

Holocene closes Southern Africa's first dedicated climate-tech fund

Holocene Ventures has completed the final close of Holocene Ventures Fund I, described as Southern Africa's first dedicated high-growth climate-technology fund. The fund has invested in ten startups over the past 18 months.

Africa's local solar firms see funding plunge 81% as capital shifts to larger players

Locally owned off-grid solar companies in Africa raised just $9.9mn in 2025, down 81% from the previous year and 88% below 2023 levels, according to GOGLA. Overall sector investment remained stable at $315mn.

Fitch upgrades state-owned utility Eskom to B+ after South Africa sovereign rating increase

Fitch Ratings has upgraded Eskom Holdings SOC Ltd's long-term issuer rating to B+ from B following South Africa's sovereign upgrade to BB, noting the state-owned utility's rating remains closely tied to government support

Egypt signs $1.16bn protocol to upgrade power grid for renewables

Mozambique electricity output rebounds 9% in Q1 2026 on hydropower's post-drought recovery

Mozambique's electricity production rose 9% year-on-year in the first quarter of 2026 as improved water inflows boosted hydropower generation following a drought-hit 2025, Portuguese news agency Lusa reported on June 11.

Nigeria advances 53 solar projects worth $11bn amid 2050 capacity drive

Nigeria is pursuing a major expansion of its power sector, with 53 utility-scale solar projects worth about $11bn under development and a target of reaching 209,000MW of installed solar capacity by 2050

Premier African raises $1mn to advance Zulu Lithium Project in Zimbabwe

Premier African Minerals (AIM: PREM) has raised about $1.07mn before expenses through a share subscription to support ongoing optimisation and operational activities at its Zulu Lithium and Tantalum Project in Zimbabwe

Elevate Uranium boosts mineral resource estimate at Namibian project Marenica by 31%

Elevate Uranium (ASX: EL8) has increased the JORC-compliant resource at its Marenica project in Namibia to 52.8mn pounds of U₃O₈, a 31% increase since the start of 2026.

South Africa moves to add EV battery minerals to automotive incentive programme

Algeria positioned as premier green hydrogen hub for Europe, says new study

Togo lays groundwork for future nuclear ambitions through global safety accords

Togo has moved to strengthen its nuclear governance framework by approving legislation to join four major international nuclear safety conventions, aligning its regulatory system with global standards.

Egypt seeks to buy 30 additional LNG cargoes for Q4 2026

The Egyptian Ministry of Petroleum and Mineral Resources is currently considering contracts to import nearly 30 additional cargoes of liquefied natural gas (LNG) for delivery during Q4 2026

Egypt launches $86.4mn tender for El Dabaa Nuclear plant power grid connection

Egypt’s Ministry of Electricity has launched an international tender to construct a 500 kV ultra-high voltage power line designed to connect the El Dabaa Nuclear Power Plant to Egypt's national grid

Tanzania's stalled $1bn uranium project Mkuju River gains momentum after talks with Russian partners

Put on ice when uranium prices plummeted in 2011, the project is being developed by a subsidiary of Russia’s Uranium One Group.

Egypt studies solar power shift for water pumping stations to cut fuel costs

The Egyptian government is currently evaluating plans to expand solar energy use across its water pumping stations to accelerate its green transition and curb rising fuel import bills

Zambia signs agreement for 16MW solar project in boost to renewable energy drive

Zambia has signed an implementation agreement for the 16-megawatt (MW) Northrise Solar Photovoltaic (PV) Power Project, another step in the country's efforts to expand electricity generation capacity and attract private investment into the sector.

Egypt seals $420mn wind power deal with UAE's Alcazar Energy

Egypt signed investment, operation, and power purchase agreements with UAE-based sustainable infrastructure fund Alcazar Energy for the 580MW Gabal El Zeit wind power in the Red Sea region.

Revego, H1 mull merger that would create one of South Africa’s largest renewables-focused funds

South Africa's Revego Fund Managers is exploring a merger with H1 Holdings that would create one of the country's largest renewable energy investment platforms, with assets exceeding $807mn across 36 projects.

Nigeria’s power sector reforms yield limited results after three years under Tinubu

Three years after President Bola Ahmed Tinubu pledged to overhaul Nigeria's electricity sector, the industry still grapples with grid instability, mounting debts, metering shortfalls and chronic supply shortages despite reforms.

Liberia secures $57mn World Bank funding to expand solar power, battery storage

The funding forms part of a broader $125mn package approved by the World Bank to support renewable energy, infrastructure development and digital transformation projects across Liberia.