Empower New Energy guarantee premium 2022 solar PV Africa Empower New Energy AS applied for and was grantet guarantee premium support to reduce the financing cost a portfolio of roof top and ground mounted solar PV plants in Africa. Most of the plants will be grid-connected. Empower has developed the projects and will invest in them on a build own operate basis and sell the power to commercial and industrial customers.

The grant will reduce the guarantee premium payable to the guarantors to guarantee Empowers equity investments and obtain the required internal rate of return and mobilize Empower New Energy's investment in renewable energy.