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Subscriber

Norwegian development agency Norfund and Norway’s largest pension fund KLP have invested $40m of equity in CrossBoundary Energy to expand its portfolio of renewable projects, paving the way for a debt-raising round in 2023.

Mozambique | Madagascar | Senegal
Free

The Rockefeller Foundations’ Global Energy Alliance for People and Planet has committed $50m to the Sustainable Energy for All (SE4All)’s Universal Energy Facility (UEF).

Benin | Sierra Leone | Madagascar
Subscriber
Project bulletin

Work has begun at the solar PV plant being developed by CrossBoundary Energy (CBE) at RioTinto’s QIT Madagascar Minerals (QMM) ilmenite mineral sands project. The project is being developed on the basis of a 20-year power purchase agreement (PPA).

Madagascar
Subscriber

CrossBoundary Energy (CBE) is to build an independent power plant (IPP) to supply NextSource Materials’ Molo graphite mine. The solar/thermal IPP has a 20-year contract to supply the mine.

Madagascar
Subscriber

Norfund has invested €10m ($11.6m) equity in solar home system (SHS) distributor Baobab+, which is active in Côte d’Ivoire, Madagascar, Mali and Senegal, where it has supplied some 220,000 households.

Madagascar | Senegal | Mali | Côte d'Ivoire
Subscriber

A rarity until a few years ago, battery and renewable power plants have more recently outcompeted fossil fuel projects without subsidy in several African markets. The AIX: Financing Battery Storage meeting heard about the extent Bess projects are making headway, despite financiers’ reservations.

Kenya | Somalia | South Sudan | Madagascar | South Africa | Mali
Subscriber

A feasibility study on the 60MW Imaloto coal power plant being developed at Imaloto in Toliara province by Lemur Holdings, a subsidiary of Guernsey-registered Bushveld Minerals, is ready for sign-off pending a site visit, according to Bushveld’s annual report released in July. It said most environmental studies had been completed and submission to the Ministry of the Environment was expected in H2 2021. 

Madagascar
Free
Project bulletin

Rio Tinto announced on 26 July that it has signed a power purchase agreement (PPA) with CrossBoundary Energy for the development of a renewable hybrid project to supply its QIT Madagascar Minerals’ (QMM) ilmenite mine in Fort Dauphin

Madagascar
Subscriber

France’s GreenYellow has signed an agreement with national energy utility Jirama to expand the capacity of its 20MW Ambohipihaonana solar PV plant to 40MW and add a 5MWh lithium-ion storage component. The extension is expected to cost €17m ($20m) and will be financed by Axian Group and GreenYellow for commissioning by end-2021.

Madagascar
Subscriber

A 35-year concession agreement and a power purchase agreement (PPA) for the 120MW Volobe hydroelectric power (HEP) plant are due to be signed between project company Compagnie Générale d’Hydroélectricité de Volobe (CGHV), state-owned offtaker Jiro sy Rany Malagasy (Jirama) and the government in the coming months, CGHV spokesperson Enick Razafindrakoto told African Energy. If this happens as expected, CGHV anticipates construction work will begin in 2023 and commercial operations in 2025.

Madagascar
Subscriber

Off-grid operations have proved resilient in the face of Covid-19 challenges, as major investors and financial institutions expand their support for electricity access away from national grids. But scaling up local businesses so that distributed energy solutions can reach their potential remains a huge challenge, leading industry players told a virtual African Investment Exchange (AIX) meeting.

Kenya | DR Congo | Chad | Nigeria | Madagascar | South Africa
Subscriber

Specialist graphite producer and graphene developer Tirupati Graphite plans to develop small-scale hydropower capacity to power its mining and processing operations in Madagascar. The UK-listed miner announced on 8 March that it is redeveloping an initial 100kW hydropower facility at its Sahamamy mining site that was last operated in 2005 and initiating further studies for hydropower across the Sahamamy and Vatomina operations, which are located about 70km south of the eastern port of Tamatave, as part of a sustainable mining strategy.

Madagascar
Subscriber

Watched by President Andry Rajoelina, Groupe Filatex officially inaugurated its Tamatave Solar PV project on 24 January. The project’s 20MW first phase began construction last April and started injecting 2MW of power into the grid from July. Another 5.6MW is expected to come online in mid-2021 for full commissioning by year-end. Tamatave Solar PV Phase 2 is intended to increase capacity to 46MW by end-2022.

Madagascar
Issue 426 - 05 November 2020

Madagascar: Solar financing

Subscriber

Local renewables operator GreenYellow, Axian, Société Générale, GuarantCo and African Guarantee Fund announced on 15 October the closing of a $19m transaction to support the debt funding of the 20MW Ambohipihaonana solar PV plant in the Ambatolampy district. Société Générale, acting as sole arranger and co-lender with Business Network International and Banque Malgache de l'Ocean Indien, raised $19m of debt.

Madagascar
Subscriber

Groupe Filatex plans to commission four solar PV plants with total capacity of 50MW in Q1 2021.The plants had been due to start up by December, but the date was pushed back due to coronavirus travel restrictions. The 20MW Tamatave, 12MW Majunga, 10MW Diego and 7MW Tulear solar plants will be the first renewable projects commissioned by the company in a recent effort to transition into greener energy production, chief operating officer George Conde told African Energy.

Madagascar