The African Development Bank (AfDB) has announced that its Board of Directors has approved a senior loan of ZAR3 billion (US$228.6 million) to the 100 MW Redstone Concentrated Solar Power (CSP) Project. The total cost of the project is US$789 million.
Energy Finance & Investment News in Africa
Both the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) have disclosed that they are considering providing loans to a 250 MW wind project in Egypt. The project is owned by Lekela Power and has an estimated total cost of US$325 million.
The European Investment Bank (EIB) has announced that it has approved financing for the 420 MW Nachtigal hydropower project in Cameroon, which has an estimated total cost of EUR1.17 billion (US$1.35 billion).
IFC, a member of the World Bank Group, has forged a new partnership with Gaia Energy to create a joint platform for the development of wind power and other renewable energy projects in Africa.
Enel Green Power RSA, the Enel Group’s South African renewables company, has signed project financing agreements a portfolio of five new wind projects, totalling roughly 700 MW of capacity.
Soluna Technologies, Ltd. has announced plans to develop a 900 MW wind farm in Morocco which will power a utility-scale blockchain computing facility. The total investment required for the project is estimated to be up to US$3 billion.
Lekela has announced that it has successfully reached financial close on the Taiba N’Diaye wind power project in Senegal. This will deliver the country's first utility-scale wind farm and the largest wind farm in West Africa, with a generation capacity of 158.7 MW.
BioTherm Energy, a South African renewable energy development platform and power producer, has reached financial close on a portfolio of wind and solar projects with a combined generation capacity of 284 MW. The total development cost of the portfolio is approximately US$500 million.
ENGIE, Toyota Tsusho Corporation/Eurus Energy Holdings Corporation and Orascom Construction have jointly signed an agreement to commence development work on a new 500 MW wind farm in Ras Ghareb, Egypt.
CDC, the UK’s development finance institution, and Globeleq have announced a US$66 million debt investment in Malindi Solar Group, which will finance the construction of a 52MWp solar photovoltaic power plant in Malindi , south-east Kenya.
On behalf of the Zambian Ministry of Energy, the GET FiT Zambia Secretariat has announced that ten companies or consortia have been shortlisted to develop 100 MW solar photovoltaic projects in the country.
SunEQ recently announced it has reached financial close for a 5MW solar photovoltaic project in Namibia. The facility will be built in the Otjozondjupa region for Ohorongo Cement; also the Development Bank of Namibia (DBN) has helped SunEQ secure financing.
Enel Group and Industrial Development Corporation (IDC) have signed a financing agreement for around US$34 million senior loans for the construction of the 34 MW Ngonye solar plant in Zambia.
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.
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.
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.
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.
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.
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.
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.