Inverter chargers could be the future for solar energy
Businessam Staff
November 30, 2017
The solar inverter is a central component of every solar system, turning the direct current (DC) from a solar panel to the alternating current (AC) we use in homes and the electric grid. Some call it the brains of the solar system because it is where the solar system is monitored and feeds into the […]
Lumos proffers solution to Nigeria’s electricity challenge, unleash the power of the mobile
Goddey OdinNovember 24, 2017
Lumos Mobile Electricity Service is making effort in solving the age-long electricity problem millions of Nigerians face, by combining solar and MTN mobile phone. The service is made available to a large population of Africa’s biggest economy and paid for using mobile phone credit and through a partnership between Lumos and MTN. According to release […]
Rwanda’s renewable energy gets $50m boost
Businessam StaffNovember 15, 2017
Rwanda’s energy rollout efforts received a boost Tuesday, following the operationalisation of $50 million to catalyse private sector’s investment in off-grid energy solutions. The fund, managed by the World Bank and rolled out through Development Bank of Rwanda, is expected to facilitate the electrification of about 445,000 households in the next seven years. This, when […]
West Africa’s off-grid solar market boom drives Lumos expansion
Businessam StaffNovember 14, 2017
West Africa’s booming off-grid solar industry is drawing international investors eyeing expansion. Lumos Global, a Dutch off-grid developer that raised $90 million last year to start a business in Nigeria, said it’s expanding in Ivory Coast this month. In both countries, Amsterdam-based Lumos is using a partnership with MTN Group Ltd. that allows customers pay for solar power with […]
Citigroup to use only renewable energy by 2020
Businessam StaffSeptember 21, 2017
Citigroup Inc has pledged to purchase and produce all of its energy from renewable sources by the year 2020. Micheal Eckhart, Citigroup’s head of environmental finance issued the statement at the Climate Week New York, an annual energy and climate event held to correspond with the United Nations General Meeting. Citigroup will be joining 110 […]
China’s solar appetite eats into India’s clean energy effort
Businessam StaffAugust 25, 2017
Indian solar projects banking on a continuous supply of ever-cheaper panels are now under threat as China’s appetite props up prices. The global spot market price for solar panels in the second quarter fell at the slowest pace since the three months ended in December 2015, according to data compiled by PVinsights. While the decline […]
GreenWish Partners plans $800 million solar-powered telephone towers across Africa
Businessam StaffAugust 21, 2017
GreenWish Partners, a renewable energy company run by a former Morgan Stanley executive, is planning to invest $800 million on solar-powered telephone towers across Africa. The project could fuel economic growth by providing power for essential services. Sub-Saharan Africa has the lowest rates of energy access in the world and is home to about half […]
Off-grid solar energy seen transforming businesses in Nigeria
Businessam StaffAugust 18, 2017
Off-grid solar energy investments have been identified as panacea to the constraints in accessing power by Nigeria’s small and medium enterprises. Yuri Tsitrinbaum, Lumos Nigeria CEO, believes the availability of solar solutions will play an essential role in efforts to bridge the nation’s electricity supply gap. He says that businesses without access to the grid […]
Shell, SoftBank weigh bids for Asia renewables firm worth up to $5 billion: sources
Businessam StaffJuly 26, 2017
Royal Dutch Shell and SoftBank are among several global groups considering bidding for Equis Energy, Asia’s largest independent renewable energy producer valued at up to $5 billion, sources familiar with the matter said. Japanese trading companies, global pension funds and buyout firms are also in the fray to buy Singapore-based Equis, the sources said, at […]
Africa set to “leapfrog” over coal and choose renewable energy instead
Businessam StaffJuly 21, 2017
Despite America’s temporary lack of leadership on the climate crisis, there is a good chance that a prolonged catastrophe can be avoided. Thanks to a combination of market forces, an unprecedented surge in climate activism, and the increasingly concrete global cooperation on the issue, renewable energy is proliferating across the planet like never before. Much […]