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Australian Securities Exchange (ASX)-listed Magnis Energy Technologies has signed a binding funding proposal for up to A$50m ($33.4m) with US investment fund SBC Global.

The phase three expansion of Amea Power’s Blitta solar PV and battery energy storage plant in Togo was formally launched by President Faure Gnassingbé on 22 March. Blitta – officially named the Sheikh Mohammed Bin Zayed Solar Power Plant – was Amea’s first African project to be commissioned, in June 2021

In a move its principals said would create Africa’s largest renewable energy (RE) company, Amsterdam-headquartered Lekela Power BV on 20 March announced the completion of its acquisition by the Infinity Power Holding BV joint venture of Cairo-based Infinity Power and United Arab Emirates state-owned Masdar (Abu Dhabi Future Energy Company).

Analysis of the latest information on the African Energy Live Data platform shows generation capacity in the Central African region should expand by 2.4GW by 2027, almost all of it built by private developers. And while hydroelectric power provides the bulk of 4.3GW existing capacity, other sources of renewable power are starting to gain a stronger foothold.

A new administration is coming to Abuja, with some familiar faces and the same old daunting problems to fix. An uncomfortably small proportion of Nigeria’s 220m-plus population voted in an election that could have a big impact, but only if Bola Tinubu surprises his detractors by driving forward with a diverse package of reforms and reconciliation measures that have defied previous governments, writes Jon Marks.

Almost half of Africa’s hydroelectric power (HEP) plants are more than 40 years old and many are in need of refurbishment and modernisation. The International Hydropower Association (IHA) estimates that some 2.4GW of power could be tapped by restoring idle plants and upgrading others – and at a much lower cost than building new capacity.

In the run up to elections, president-elect Bola Ahmed Tinubu sought to burnish his pro-business credentials by offering everything from taking Nigerian National Petroleum Corporation Ltd (NNPCL) beyond corporatisation to privatisation, to cutting fuel subsidies in reforms that would bring greater coherence to public finances.

While imposing macroeconomic problems continue to weigh on developers, Zimbabwe is seeking ways to attract investment to independent power producers and commercial and industrial (C&I) projects. And among recent schemes to overcome being ostracised by international capital markets Zimbabwe is looking to use its wealthier C&I power consumers to provide corporate guarantees to raise capital for new projects.

The Opec Fund for International Development (Ofid) is providing $25m for the Niger Solar Plant Development and Electricity Access Improvement Project (Ranaa), which is supporting 40MW of solar-hybrid capacity across three developments.

Belgian construction firm BESIX said on 9 March that the first two cofferdams in the spillway openings of the 420MW Nachtigal hydroelectric power (HEP) plant have been lowered.

The BP-Eni joint venture has kickstarted the process of contract awards on the offshore Agogo oil scheme, with some $7.8bn signed to date following a final investment decision.

The first 2.4MWp phase of the Diego solar PV plant in Antsiranana has been completed, according to the local Group Filatex.

Rössing Uranium, operator of Namibia’s oldest uranium mine, is inviting expressions of interest (EoI) for electricity supply, with three potential options on offer to bidders.

National Oil Corporation has relaunched its growth-oriented upstream strategy and is encouraging international companies to help Libya achieve the 2m b/d crude oil production target mooted for at least 15 years. Eni’s recent huge gas development agreement with NOC suggests the market’s need for Libyan hydrocarbons has trumped more pessimistic assessments of the government’s capabilities, but widespread political, social and legal opposition to the Italian deal is a reminder that, while huge growth in oil and gas production is technically feasible, developments remain prey to Libya’s volatile politics.

A Lagos court ruling against the leadership of ambitious independent oil and gas company Seplat could reinforce concerns that, even with an apparently pro-business president-elect, Nigeria may not prove an easy market for international oil companies.