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Energy Finance & Investment News in Africa

IPPToday #354: Lekela Power signs PPA for 250 MW wind project in Egypt

IPPToday #354: Lekela Power signs PPA for 250 MW wind project in Egypt

🕔Feb 14, 2019

Lekela has announced that it has signed a power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for its 250 MW wind farm project in the Gulf of Suez.

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AfDB approves US$25 million equity investment in Africa Renewable Power Fund

AfDB approves US$25 million equity investment in Africa Renewable Power Fund

🕔Feb 11, 2019

The Board of Directors of the African Development Bank Group has approved an equity investment of up to US$25 million in ARCH Africa Renewable Power Fund (ARPF), a US$250 million private equity fund for renewable energy projects across Sub-Saharan Africa.

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IPPToday #344: AFC commits US$200 million to hydropower project in Côte d’Ivoire

IPPToday #344: AFC commits US$200 million to hydropower project in Côte d’Ivoire

🕔Jan 28, 2019

Africa Finance Corporation (AFC) has announced the financial close of a bridge loan facility contracted by Ivoire Hydro Energy (IHE) for the construction of the 44 MW Singrobo-Ahouaty hydropower project in Côte d’Ivoire.

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Investec and UKCI invest US$73 million in new African renewable energy yieldco

Investec and UKCI invest US$73 million in new African renewable energy yieldco

🕔Jan 21, 2019

UK Climate Investments (UKCI) has announced a planned ZAR500 million (US$36.5 million) cornerstone investment in a dedicated African renewable energy yieldco, Revego Africa Energy Limited.

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IPPToday #324: AfDB approves financing for US$800 million CSP project in South Africa

IPPToday #324: AfDB approves financing for US$800 million CSP project in South Africa

🕔Nov 30, 2018

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.

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IPPToday #308: 250 MW wind project in Egypt seeks financing from EBRD and IFC

IPPToday #308: 250 MW wind project in Egypt seeks financing from EBRD and IFC

🕔Oct 26, 2018

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.

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IPPToday #301: EIB approves financing for 420 MW hydropower project in Cameroon

IPPToday #301: EIB approves financing for 420 MW hydropower project in Cameroon

🕔Oct 16, 2018

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).

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IPPToday #262: IFC and Gaia Energy to develop 22 projects in 9 countries in Africa

IPPToday #262: IFC and Gaia Energy to develop 22 projects in 9 countries in Africa

🕔Aug 8, 2018

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. 

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IPPToday #259: Enel signs US$1.1 billion financing for 700 MW wind projects in South Africa

IPPToday #259: Enel signs US$1.1 billion financing for 700 MW wind projects in South Africa

🕔Aug 3, 2018

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.

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IPPToday #257: US firm to develop blockchain facility powered by 900 MW wind farm in Morocco

IPPToday #257: US firm to develop blockchain facility powered by 900 MW wind farm in Morocco

🕔Aug 1, 2018

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.

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IPPToday #256: Largest wind farm in West Africa reaches financial close

IPPToday #256: Largest wind farm in West Africa reaches financial close

🕔Jul 31, 2018

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.

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IPPToday #254: US$500 million wind and solar portfolio in South Africa reaches financial close

IPPToday #254: US$500 million wind and solar portfolio in South Africa reaches financial close

🕔Jul 26, 2018

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.

 

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IPPToday #250: Consortium agrees to develop largest renewable project in Egypt

IPPToday #250: Consortium agrees to develop largest renewable project in Egypt

🕔Jul 20, 2018

ENGIEToyota 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.

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CDC and Globaleq invest US$66 million in solar project in Kenya

CDC and Globaleq invest US$66 million in solar project in Kenya

🕔Jul 16, 2018

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.

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10 bidders shortlisted for 100 MW solar projects in Zambia

10 bidders shortlisted for 100 MW solar projects in Zambia

🕔Jul 11, 2018

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.

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SunEQ Namibia announces financial close for 5 MW of solar photovoltaic facility

SunEQ Namibia announces financial close for 5 MW of solar photovoltaic facility

🕔Jul 5, 2018

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.

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IFC and EIB to finance 34 MW solar project in Zambia

IFC and EIB to finance 34 MW solar project in Zambia

🕔Jun 25, 2018

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.

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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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