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Energy Finance & Investment News in Africa

World Bank to loan US$125 million to solar complex in Morocco

World Bank to loan US$125 million to solar complex in Morocco

🕔Jun 14, 2018

The World Bank has announced that it is providing US$125 million to the Noor Midelt solar project in Morocco, supporting the development and construction of two concentrated solar power and photovoltaic plants, which will have a total capacity of between 600 and 800 MW.

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AfDB to finance 35 MW geothermal project in Kenya

AfDB to finance 35 MW geothermal project in Kenya

🕔Jun 13, 2018

Quantum Power East Africa GT Menengai Ltd has secured financing from the African Development Bank (AfDB) and Climate Investment Funds (CIF) Clean Technology Fund (CTF) for the 35 MW Menengai geothermal project in Kenya.

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IPPToday #231: MoU signed for US$1 billion renewable projects in West Africa

IPPToday #231: MoU signed for US$1 billion renewable projects in West Africa

🕔Jun 13, 2018

Multinational renewables developer Gigawatt Global Cooperatief has signed a Memorandum of Understanding with the Economic Community of West African States (ECOWAS) to invest US$1 billion in renewable energy projects in the region.

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IPPToday #227: Mainstream achieves financial close of US$520 million wind farms in South Africa

IPPToday #227: Mainstream achieves financial close of US$520 million wind farms in South Africa

🕔Jun 6, 2018

Mainstream Renewable Power has announced the successful completion of financial close for two wind projects in South Africa: the 140 MW Kangnas wind farm, located near Springbok in the Northern Cape, and the 110 MW Perdekraal East wind farm, located 80km northeast of Ceres, in the Western Cape.

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IPPToday #225: South Africa to procure 1.8 GW renewable projects in November

IPPToday #225: South Africa to procure 1.8 GW renewable projects in November

🕔Jun 4, 2018

The Energy Minister of South Africa, Jeff Radebe, has announced that the fifth bidding round of the country's Renewable Energy Independent Power Producers Procurement Programme (REIPPPP) will be launched in November 2018. The tender will procure up to 1.8 GW renewable capacity.

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IPPToday #224: Total launches US$1.2 billion offshore oil production project in Angola

IPPToday #224: Total launches US$1.2 billion offshore oil production project in Angola

🕔Jun 1, 2018

Total and its partners have launched the Zinia 2 project, a deep offshore short-cycle development in an area 150km off the coast of Angola, known as Block 17. The launch follows the developers' final investment decision (FID) to proceed with the project, which has a budget of US$1.2 billion.

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Denmark to finance wind project in Ethiopia

Denmark to finance wind project in Ethiopia

🕔May 31, 2018

The Governments of Ethiopia and Denmark have signed a financing arrangement to support the 100 MW Assela wind farm, located on the edge of the Rift Valley, 150km north of the capital Addis Ababa.

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IPPToday #222: AfDB and partners to install 10 GW solar power  in Africa

IPPToday #222: AfDB and partners to install 10 GW solar power in Africa

🕔May 30, 2018

The African Development Bank, the Green Climate Fund (GCF) and the Africa50 investment fund signed a letter of intent to collaborate on the Desert to Power programme on the sidelines of the Bank’s Annual Meetings, Busan, Korea.

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IPPToday #219: MoU signed for US$400 million gas-fired power project in Mozambique

IPPToday #219: MoU signed for US$400 million gas-fired power project in Mozambique

🕔May 25, 2018

Great Lakes Africa Energy (GLAE) has signed a Memorandum of Understanding (MoU) with the Government of Mozambique to construct a 250 MW gas-fired power plant in the country at an estimated value of US$400 million.

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Enertrag acquires 50% stake in 1.8 GW wind portfolio in South Africa

Enertrag acquires 50% stake in 1.8 GW wind portfolio in South Africa

🕔Apr 20, 2018

ENERTRAG has announced that it has acquired a 50% stake in a 1.8 GW wind power pipeline in South Africa. It will partner with Genesis Eco-Energy Developments (GEED) to develop the projects, some of which are already at an advanced stage of development.

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Financial close for 25 MW biomass project in South Africa

Financial close for 25 MW biomass project in South Africa

🕔Apr 18, 2018

Sappi and Fusion Energy have reached financial close on the 25 MW Ngodwana Energy Biomass Project, the first biomass project procured under South Africa's Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).

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Financial close for 50MW thermal power plant in Guinea

Financial close for 50MW thermal power plant in Guinea

🕔Apr 10, 2018

With support from the Overseas Private Investment Corporation (OPIC) and CDC, the development finance institutions of the USA and UK respectively, the Tè Power project has reached financial close. Tè Power Company S.A.S.U., owned by Endeavour Energy, will construct a 50MW thermal power plant in Conakry, the capital city of Guinea.

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IPPToday #189: Scatec Solar signs US$400 million solar projects in South Africa

IPPToday #189: Scatec Solar signs US$400 million solar projects in South Africa

🕔Apr 10, 2018

Scatec Solar has announced that it has signed all project documents with its partners and shortly expects to achieve financial close for three solar PV plants to be located in Upington, South Africa with a total generation capacity of 258 MW.

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IPPToday #186: South Africa signs PPAs for 2,300 MW renewable projects

IPPToday #186: South Africa signs PPAs for 2,300 MW renewable projects

🕔Apr 5, 2018

South Africa's Minister of Energy has announced the signing of power purchase agreements (PPAs) for 27 projects procured under rounds 3.5 and 4 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPP). This is the biggest IPP procurement by the Department of Energy to date, representing a total of ZAR56 billion (US$4.7 billion) of investment and over 2300 MW of generation capacity to be added to the grid over the next five years.

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IPPToday #175: Legal challenge delays signing of US$4.7 billion renewable projects in South Africa

IPPToday #175: Legal challenge delays signing of US$4.7 billion renewable projects in South Africa

🕔Mar 15, 2018

The government of South Africa has delayed the much-anticipated signing of 27 PPA contracts under the country's renewable independent power producer procurement programme (REIPPPP) following a legal objection issued by the National Union of Metalworkers of South Africa (Numsa) and Transform RSA.

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IFC and MIGA approve refinancing package for 250 MW hydropower project in Uganda

IFC and MIGA approve refinancing package for 250 MW hydropower project in Uganda

🕔Mar 12, 2018

The Board of Directors of the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) have approved a refinancing package for the 250 MW Bujagali hydropower project, located on  the Victoria Nile in Uganda. One of the largest power-generation plants in Uganda, the project has been operational since 2012.

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Inspired Evolution invests US$36 million in solar PV projects in sub-Saharan Africa

Inspired Evolution invests US$36 million in solar PV projects in sub-Saharan Africa

🕔Feb 16, 2018

Inspired Evolution has signed a deal to invest up to US$36 million in Alten RE Developments Africa B.V., the sub-Saharan Africa-focused subsidiary of Alten Energías Renovables. The investment by Inspired Evolution’s Evolution II Fund will expand Alten Africa’s existing solar photovoltaic development platform across sub-Saharan Africa.

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RFEOI issued for 40 MW solar PV project in Malawi

RFEOI issued for 40 MW solar PV project in Malawi

🕔Feb 14, 2018

JCM Matswani Solar Corp Limited has issued a Request for Expressions of Interest for the engineering, procurement and construction and long-term operation and maintenance of a 40 MW solar photovoltaic power plant to be constructed in Salima, eastern Malawi.

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Exim Bank of China finance coal-fired power plant in Malawi

Exim Bank of China finance coal-fired power plant in Malawi

🕔Feb 7, 2018

The Government of Malawi has disclosed that the 300 MW Kam’mwamba coal-fired power plant project is being financed with a US$667 million loan from the Export-Import (Exim) Bank of China. The government are developing the project in partnership with China Gezhouba Group, a subsidiary of China Energy Engineering Corporation.

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Akuo Energy secures financing for Mali’s second solar park

Akuo Energy secures financing for Mali’s second solar park

🕔Jan 31, 2018

The Emerging Africa Infrastructure Fund (EAIF) and Akuo Energy have announced the signing of a financing package for a 50 MW solar power project in Mali. The Kita project is Mali’s second solar park in development. ​

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