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Morocco’s Platinum Power has invited companies to prequalify for a turnkey contract to develop the 350MW Makay hydro project on the Nyong River. The invitation follows the signing of a power purchase agreement and project terms with the government and state utility Eneo. The contract will involve mobilising the necessary resources, analysing existing studies, carrying out detailed design studies, procuring the necessary equipment, and building and commissioning the facilities

Following a strategic review of operations by the new board of directors, Bowleven has launched a process to reduce the number of UK head office staff from 18 to five. Bowleven said streamlining the Cameroon headcount and costs was also under way, though the company would continue to maintain an “appropriate presence” to manage the Etinde and Bomono assets. Operator New Age (African Global Energy) has asked state oil company Société Nationale des Hydrocarbures (SNH) to convene an operating committee meeting to discuss a forward plan for Etinde.

AIM-listed Tower Resources suspended its shares on 12 May citing cash problems after failing to reach a farm-out deal on its Thali asset in Cameroon. The company said it was considering appointing administrators. Tower had been in talks with a potential partner on Thali but an 11 May deadline to sign a heads of agreement that would have triggered a non-refundable deposit to Tower was missed. Remaining staff have been given notice that their jobs will be terminated.

Moroccan renewables developer Platinum Power has signed a framework agreement for development of the 350MW-400MW Makay hydro plant on the Nyong River. The agreement sets out terms of reference for the project and for a power purchase agreement expected to be signed with state utility Eneo. The government signed an agreement with Platinum Power in 2014 for the construction of the hydro complex on a public-private partnership basis. Work will consist of the construction of two dams, a hydroelectric plant and a substation.

Minister of water and energy Basile Atangana Kouna and Nachtigal Hydro Power Company (NHPC) general manager Olivier Flambard signed a generation concession agreement on 20 April for the Nachtigal Amont hydroelectric facility. The agreement makes NHPC the concession holder for 35 years and grants the project company land rights on the project site. NHPC was established in 2016, and is owned by the government of Cameroon (30%), the International Finance Corporation (30%) and EDF International (40%).

Cameroonian economist Vera Songwe has been appointed head of the United Nations’ Economic Commission for Africa (ECA), having been West and Central Africa director at the World Bank Group’s International Financial Corporation (IFC). Songwe is the first woman to lead the ECA, and comes in with a strong remit to marry sustainable development and business; she is also likely to be a dynamic force in an often-fusty institution.

Bowleven’s new board has consolidated its hold on the company with the replacement of chairman Billy Allan and has concluded a strategic review. “Having undertaken a review of all strategic options available to the company, [Bowleven] is committed to the rationalisation of its cost base, and the preservation and enhancement of its existing assets. In addition, the board does not expect to pursue any new exploration activity at the current time,” the company said.

Bowleven’s new board has announced a strategic review amid confusion following the removal of chief executive Kevin Hart and four directors on 14 March (AE 342/1). A company statement said options included farm-outs, asset sales or a merger or sale to a third party. Activist shareholder Crown Ocean Capital has called another shareholders’ meeting with the aim of removing chairman Billy Allan and appointing two further directors, Panoro Energy’s non-executive chairman, Julien Balkany, and former Petroceltic managing director Egypt, Bulgaria & Italy Didier Lechartier.

Activist shareholder Crown Ocean Capital has ousted most of Bowleven’s board of directors, casting doubt on a farmout agreement for Victoria Oil & Gas (VOG) to take 80% in the onshore Bomono permit.Crown Ocean has said the deal announced on 6 March, which would enable gas from Bomono to be sold within VOG’s distribution network, “will not remotely recover for shareholders the more than $100m so far spent on the Bomono project”.

Africa-focused renewable energy developer Joule Africa has signed a tripartite agreement with the Ministry of Water Resources and Energy and power utility Eneo for the 485MW Kpep hydropower project on the Katsina Ala River in north-western Cameroon. The letter of intent was signed in Yaoundé on 13 January.Joule Africa president Mark Green was quoted as saying at the signing ceremony that the project, which would take four years to build and create over 3,000 jobs, would ensure stable power supply for the north-western and western regions of the country.

Bowleven has urged its shareholders to oppose efforts by Monaco-based investor Crown Ocean Capital (COC) to take control of the company. COC, which has increased its stake to 15.56%, wants to replace the board and turn Bowleven into a holding company focused on returning cash to shareholders (AE 339/15).“COC’s intent is to take control of Bowleven without paying fair value, and it has no credible strategy to maximise the value from the company’s key assets, Etinde and Bomono,” Bowleven said on 8 February.

Investor Crown Ocean Capital has called a general meeting of Bowleven shareholders to try to remove most of the company’s board and change its strategy. Monaco-based Crown Ocean, which holds 10.62% in Bowleven, argues that the Edinburgh-based company’s spending is unjustifiable. It wants to transform Bowleven into a holding company focused on returning cash to shareholders, and seeks to remove six of the board’s seven members and appoint two of its own.Crown Ocean said in a stock market filing that Bowleven’s cash holdings exceeded the company’s market value at end-2016.

Africa Renewable Energy Fund (Aref) manager Berkeley Energy is looking for consultants to carry out a review of the grid network and the possibilities for connecting new hydropower projects in Cameroon. Aref is considering investing in a pipeline of projects with capacities of between 40MW and 60MW. Expressions of interest are due by 12 October.Contact: Edward Kihara, Berkeley Energy Africa Ltd, Springette Office Park Block F2, Nairobi, Kenya. Tel: +254 795 740 736. Email: [email protected].

France’s Engie has shelved plans for a liquefied natural gas export plant on the southern coast at Lolabé. Engie, formerly GDF Suez, had been developing the 3.5m tonne LNG project in partnership with Société Nationale des Hydrocarbures (SNH) since 2008 and the two companies completed front-end engineering design for the scheme in early 2016. Engie said the scheme had been placed on hold due to unfavourable market conditions. Late last year, SNH and Perenco announced a final investment decision for an eight-year floating LNG project to sell gas to Russia’s Gazprom.

French telecoms provider Orange has announced a programme to provide solar power paid for by its mobile money scheme, which will pilot in three West African countries from November. Orange said the programme aimed to help individual customers or communities generate electricity where no traditional electricity grids are available. The project will be piloted in Côte d’Ivoire, Senegal and Cameroon from November 2016. Orange is providing solar kits or microgrids to rural communities to generate electricity.