
Mirova Funds KOKO to Expand Clean Cooking Solutions in Africa
Mirova, an affiliate of Natixis Investment Managers, has announced financial support for KOKO, a company offering clean cooking solutions in Africa.
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Libya has officially commissioned its inaugural solar power facility in the remote southeastern town of Kufra, deep in the Sahara Desert near Egypt, Sudan, and Chad.
Developed by Infinity Libya in partnership with the Al-Jouf Free Zone, the 1 MW installation reached full operational status in a rapid eight months following the agreement signed in September 2024.
Despite its modest nominal capacity, the plant’s anticipated annual output—approximately 2,182 megawatt-hours—will provide clean electricity to one of the region’s industrial hubs, the Al‑Jouf Free Zone.
To put this into perspective, that equates to powering roughly 500 to 1,000 households, contingent on consumption levels.
Beyond powering facilities, the project delivers tangible environmental benefits: an estimated 545,000 liters of diesel displaced annually and a reduction of about 1,300 metric tons of carbon dioxide emissions each year.
This initiative reflects Libya’s broader ambition to diversify its energy supply, despite being one of Africa’s foremost oil-holders.
As of early 2024, the nation boasted 48 billion barrels of proven reserves—accounting for roughly 41% of the continent’s total.
Nevertheless, the soaring electricity demand—expected to reach 20 GW by the end of 2025—has heightened the urgency for sustainable power alternatives.
In response, Libya’s energy policy charted a path toward 4 GW of renewable capacity by 2035, aiming for renewables to make up approximately 20% of its energy portfolio.
Expanding even further, a newly announced national solar programme envisions a $10 billion investment in solar infrastructure, targeting 4 GW by 2035—enough to fulfill around 40% of the country’s electricity needs.
This mega‑programme includes flagship projects such as the Kufra station, a 500 MW plant in Saddada with TotalEnergies, a Ghadames project financed by AG Energy, rooftop initiatives (500 MW), and a massive 1,500 MW development in the east involving PowerChina and EDF.
Back in Kufra, the facility is fully managed by a team of locally trained Libyan engineers, underscoring the project’s commitment to developing domestic technical capacity and stimulating job growth in the region.
Infinity Libya’s leadership hailed the venture as a turning point: Chairman Mohamed Ismail Mansour described it as a model of sustainable development that exemplifies the power of local collaboration, while Managing Director Fahd Benhalim emphasized that it lays the groundwork for future renewable-energy expansion in sectors such as agriculture, oil and gas, and industry.
Although the Kufra plant is relatively small compared to Libya’s vast oil infrastructure, its successful delivery sets a precedent for swift, locally driven renewable projects.
It underscores an emerging narrative: that the desert sun—once peripheral to Libya’s energy agenda—could become central to its sustainable future.
Mirova, an affiliate of Natixis Investment Managers, has announced financial support for KOKO, a company offering clean cooking solutions in Africa.
Equator, an African venture capital firm, has raised $55 million for its first fund aimed at supporting early-stage climate tech startups across the continent.
Egyptian fintech startup MoneyFellows has secured $13 million in a pre-Series C investment round to support its growth beyond Egypt and enhance its digital savings platform.