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).
Energy Finance & Investment News in Africa
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.
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.
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.
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.
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.
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.
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.
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.
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.
Sasol Limited and Electricidade de Moçambique (EDM) have successfully refinanced the Central Térmica de Ressano Garcia S.A. (CTRG) joint venture project, a 175 MW gas-fired power plant in Mozambique. EDM holds a 51% stake in the project, with Sasol holding the remaining 49%.
Abu Dhabi-based Masdar, Egyptian energy technology developer Elsewedy Electric and Marubeni Corporation have signed an agreement to develop an 800 MW wind project in Egypt. The estimated investment required has not been disclosed.
ACWA Power has reached financial close of the three solar photovoltaic projects, located in the south of Egypt, with an aggregate capacity of 165.5MWp. The total cost of the projects is US$190 million.
Burkina Faso, Mali and Ghana Ministers of Energy to join TOTAL, CI-GNL, RLSF, APUA, ANARÉ and WAGPA at the Regional Energy Co-operation Summit in Côte d’Ivoire this January
With confirmed participation of H.E Honourable Malick Alhousseini, H.E Honourable Professor Alfa Oumar Dissa, Ghana’s Ministry of Energy, Autorité Nationale de Régulation du Secteur de l'Electricité (Anaré), TOTAL, CI-GNL, Regional Liquidity Support Facility (RLSF) and West Africa Gas Pipeline Authority Company (WAGPA), the fast approaching Regional Energy Co-operation Summit 2018 will establish the roadmap for sustainable electricity trade in ECOWAS’ booming gas and energy markets.
Financing has been agreed for a 47.5 MW solar farm in Zambia, setting a new benchmark for low-cost solar power in sub-Saharan Africa.
The consortium proposing to build a 250 MW wind farm in Ras Ghareb, Egypt have achieved financial close for the project. The estimated value of the wind farm is US$400 million.
The Federal Executive Council (FEC) of Nigeria has approved the US$2.8 billion Ajaokuta–Kaduna–Kano (AKK) gas pipeline project. The 40-inch pipeline will span 614km.
Ethiopian Electric Power (EEP) has signed power purchase agreements (PPAs) with Corbetti Geothermal Power regarding two 500 MW geothermal projects in the Main Ethiopian Rift Valley that require a total investment of US$4 billion
In a bid to reduce the huge infrastructure financing gap in Sub-Saharan Africa, the African Development Bank has approved US$100 million to The Emerging Africa Infrastructure Fund (EAIF), a public private partnership company.
EnergyNet will host the second Regional Energy Co-operation Summit in Côte d’Ivoire from 24-25 January 2018 - a strategic platform for project evolution and partnership development. The conference will discuss opportunities for cross-border power projects and potential gas investments across West Africa.