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Data trend

West Africa’s total installed generation capacity could reach 43GW by 2027 from 31GW at end-2021, according to African Energy Live Data’s latest analysis, with thermal, hydropower and other renewable projects lining up. But many of these capacity additions are planned for Nigeria, where results may be patchy, as it is already hard to dispatch power from existing plants to an inadequate grid.

Ghana | Nigeria | Guinea | Senegal | Mali | Côte d'Ivoire
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London Stock Exchange-listed Tullow Oil has appointed Roald Goethe as an independent non-executive director. Goethe is an oil and gas veteran with expertise in West Africa. Tullow remains the target of considerable industry speculation.

Ghana
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Tullow Oil’s Ghana unit has filed for arbitration in the International Chamber of Commerce (ICC) over two tax bills amounting to $387m received from the Ghana Revenue Authority (GRA), the London AIM-listed independent said on 14 February. This is in addition to a separate existing tax dispute between Tullow and the authorities in Accra.

Ghana
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There was confirmation of the depth of Ghana’s debt problems when the Ministry of Finance on 19 December halted service payments on most of its international debt and said it would seek “an orderly restructuring of the affected obligations”.

Ghana
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The African Development Bank (AfDB) has approved $1m in funding through the Sustainable Energy Fund for Africa (Sefa) to conduct feasibility studies for hybrid biomass power plants in Ghana and Sierra Leone.

Ghana | Sierra Leone
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Five more memoranda of understanding (MoUs) were signed in Rabat on 5 December, bringing more partners into the Nigeria-Morocco Gas Pipeline (NMGP) project.

Gambia | Ghana | Sierra Leone | Nigeria | Guinea | Guinea-Bissau | Morocco
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A consortium of American and Japanese firms will carry out a feasibility study into the use of small modular reactor (SMR) nuclear power technology in Ghana.

Ghana
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Kosmos Energy reported progress on its core development projects in West Africa in a Q3 2022 results release on 7 November. The New York Stock Exchange- and London Stock Exchange-listed firm said it was advancing several gas opportunities, which it now believes will drive growth beyond 2024 as it continues to increase the weighting of natural gas in its traditionally crude-heavy portfolio.

Ghana | Mauritania | Equatorial Guinea | Senegal
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Project bulletin

Aksa Energy has renewed its power purchase agreement for the 370MW plant with the Electricity Company of Ghana (ECG) for a further 15 years.  Conversion from dual fuel to natural gas has begun and will continue at a brisk pace says chief executive Cemil Kazancı.

Ghana
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The Economic Community of West African States Bank for Investment and Development (Ebid) has approved a financing package totalling $250m to support the oil and gas, energy, agriculture and road sectors of five Ecowas member states. The state-owned Ghana Grid Company (Gridco) is among the recipients.

Ghana
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London AIM and Australian Stock Exchange-listed explorer Atlantic Lithium said on 13 October that it had submitted its licence application for the Ewoyaa project on the Cape Coast, which is expected to be Ghana’s first lithium mine.

Ghana
Issue 470 - 12 October 2022

Empower raises $74m for C&I market

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Norway’s Empower New Energy has raised $74m in equity from a consortium led by The Hague, Netherlands-based Climate Fund Managers (CFM).

Ghana | Egypt | Nigeria
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The government of Ghana signed a memorandum of understanding with the Nairobi-based African Trade Insurance Agency (ATI) on 8 September, giving power producers access to the agency’s regional liquidity support facility (RLSF).

Ghana
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Nigeria’s Starsight Energy and South Africa’s SolarAfrica have announced plans to merge in a deal which, if approved by regulators, will join two of Africa’s largest commercial and industrial (C&I) renewable power developers into a pan-continental player with a portfolio of over 220MW of operated and signed generation capacity.

Kenya | Ghana | Nigeria | South Africa
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London- and Ghana-listed Tullow Oil announced better than expected H1 2022 results on 14 September, with 60,900 boe/d working interest production, of which its Jubilee and Tweneboa, Enyenra, Ntomme (Ten) fields in Ghana contributed 30,800 boe/d and 12,500 boe/d respectively.

Ghana