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Shell and Sumitomo Buy 15 Percent Stake in Minigrid Firm PowerGen
Shell and Sumitomo have taken a minority stake in African minigrid firm PowerGen. The pair will have a combined ownership of 15 percent after leading the most recent funding round alongside six other investors. Shell will get a seat on the board, with Sumitomo taking an observer seat. Financial details of the Series B round were not revealed.
- Region
- Sub-Saharan Africa
- Tags
- off-grid energy
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World Bank Sees ‘Transformational’ Offshore Wind Potential in Emerging Markets
A report from World Bank, Going global: expanding offshore wind to emerging markets, finds that the technical potential for offshore wind in Brazil, India, Morocco, the Philippines, South Africa, Sri Lanka, Turkey and Vietnam is absolutely huge.
- Categories
- Energy
- Tags
- renewable energy
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Tata, Rockefeller Foundation Plan 10,000 India Microgrids
Tata Power Co. Ltd., in collaboration with the Rockefeller Foundation, plans to develop 10,000 microgrids in India to boost access to affordable and reliable electricity to homes and enterprises across the nation’s vast rural areas.
- Categories
- Energy, Technology
- Region
- South Asia
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Press Release: Clean Energy Ventures Launches $110 Million Early-Stage Venture Fund for Clean Energy Innovation
Clean Energy Ventures (CEV), an investor in early-stage advanced energy start-ups, today announced the close of its first fund. The $110 million Clean Energy Venture Fund targets the current capital gap for seed and early-stage investments in promising advanced energy innovations. CEV will focus on technologies and business model innovations in the U.S. and Canada that are ready to be scaled and commercialized, and that have the potential to significantly mitigate global greenhouse gas emissions.
- Categories
- Energy
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Press Release: VentureBuilder Launches Innovative Approach to Support Indigenous Off-Grid Solar Companies in Africa
Mandated with expanding energy access to underserved populations in Africa, VentureBuilder’s launch will enable it to pioneer a new investment model that provides ‘patient’ early-stage capital to its local partners across Africa, combined with a specialized suite of technical expertise that will accelerate each partner’s path to scale.
- Categories
- Energy
- Region
- Sub-Saharan Africa
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Press Release: Amped Innovation Closes Series A Funding of More Than $3 Million
This financing accelerates Amped’s ability to bring high-quality, affordable solar-powered appliances to market, serving growing demands from energy distribution companies, utilities and mini- and micro-grid providers for better power solutions.
- Categories
- Energy
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Amped Innovation Closes Series A Funding of More Than $3 Million
Amped Innovation, a designer and manufacturer of solar-powered appliances and solar energy generation and management equipment, announced today that it has closed Series A equity funding totaling more than $3.3 million. The funding round was led by ENGIE Rassembleurs d’Energies with participation from existing seed investors Schneider Electric Ventures and FINCA Ventures, as well as other impact-aligned investors. This financing accelerates Amped’s ability to bring high-quality, affordable solar-powered appliances to market, serving growing demands from energy distribution companies, utilities and mini- and micro-grid providers for better power solutions.
- Source
- Press Release
- Region
- Sub-Saharan Africa
- Tags
- solar
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France, Netherlands, Uk Commit US$350m to Emerging Solar and Storage
A handful of European states have moved to bankroll various World Bank clean energy initiatives, with US$100 million of French and Dutch money set to back PV in Sub-Saharan Africa.
- Categories
- Energy
- Region
- Europe & Eurasia