TOYO doubles solar cell production in Ethiopia

• Africa’s solar manufacturing is nascent but poised to grow 15% annually from 2025 to 2030. TOYO’s expansion in Ethiopia signals Africa’s growing interest in renewables manufacturing, leveraging Ethiopia’s low labor costs, tax incentives, and proximity to Middle Eastern and European markets.

• Morocco, South Africa, Egypt and Nigeria currently lead African solar manufacturing. Together, the four countries account for the bulk of PV manufacturing capacity and experience. If successful, Ethiopia is positioning itself as a competitor, including in export.

• Our take: Africa holds significant natural and strategic advantages that could enable it to become a major player in solar PV manufacturing… Read more (2 min)

Hydropower tops Africa's 2024 energy growth

• Interest in hydropower as a dependable energy source is undoubtedly rising. Cameroon and Malawi are among the countries that have secured financing for hydropower projects in 2025.

• The solar energy market too has matured, with grid installations in over 20 African countries. Wind projects are mainly in the north and south, where potential is high. 

• Our take: With solar prices projected to continue to decline, will it overtake hydropower in the long-term? Read more (2 min)

More than half of new funding goes to SA

• Loans dominated, accounting for 88% of total investments. Additionally, there was a commitment of $500 million in green bonds from Zambia's Copperbelt Energy to develop solar and transmission lines. 

• Governments were also involved, with countries such as Ghana allocating $77 million for the energy sector and Nigeria approximately $2.1 million for rural electrification programmes.

• Our take: The year 2025 is off to a promising start, and big goals for universal electrification could attract more private sector investments… Read more (2 min)