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Daystar Power Energy Solutions is installing a 350kwp solar project at Lagos Business School. The project is being financed through the Sustainable use of Natural Resources and Energy Finance (Sunref), an initiative funded by the Agence Française de Développement (AFD).

Nigeria
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Dutch development finance institution FMO has signed a $15m senior loan for African and India-focused off-grid provider D.Light Design, with $5m from the Building Prospects envelope and a $10m FMO-A loan. The majority of the loan is denominated in local currency, comprising Nigerian naira and Kenyan shillings.

Kenya | Nigeria | Uganda | Tanzania
Issue 464 - 08 July 2022

Nigeria enters election season

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Many in Nigeria believe the authorities’ move to implement minimum electricity generation capacity is politically motivated. With elections due in 2023, the pressure is on President Muhammadu Buhari’s administration to demonstrate its achievements. Reaching a minimum 5GW of available generation capacity would be an improvement from past administrations.

Nigeria
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Regulator Nerc began ‘a phased activation’ of power purchase agreements on 1 July, in another attempt to meet its 5,000MW electricity target. Officials believe the move can rebalance an industry in crisis, but stakeholders are unsure if the target is achievable and the public is wary of gimmicks ahead of elections in 2023, writes Adaora Elemide in Abuja, with Jon Marks in Brussels.

Nigeria
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A case in the Federal High Court of Nigeria over the Barracuda oil field in Niger Delta Block OML141 has again been adjourned, this time until 16 November.

Nigeria
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Three Nigerian electricity distribution companies (discos) – Benin, Kaduna and Kano – have been taken over by Fidelity Bank, after it called in the collateralised shares following defaults.

Nigeria
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Mini-grid financing facility CrossBoundary Energy Access has raised a $25m senior debt facility. CrossBoundary is looking to raise $150m in total to finance a portfolio of mini-grids primarily in Democratic Republic of Congo, Kenya, Madagascar, Nigeria, Uganda and Zambia.

Kenya | DR Congo | Nigeria | Uganda | Zambia
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Talks are at an advanced stages for West Africa Gas Limited (WAGL) Energy, a joint venture between Nigerian National Petroleum Company (NNPC) and local conglomerate Sahara Group, to develop liquid petroleum gas supply in West Africa through the construction of jetties and other infrastructure.

Nigeria
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Panoro Energy is expected to complete the sale of its interest in Offshore Mining Lease (OML) 113 in offshore Nigeria to PetroNor E&P by 15 July, following a further two-week delay announced by the companies on 30 June.

Nigeria
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It is more than a whisper: international institutions and private equity (PE) investors are again exploring major hydroelectric power (HEP) deals, after years during which environmental, social and governance (ESG) concerns made big dams a problematic issue for development finance institutions (DFI) and other potential investors.

Mozambique | DR Congo | Malawi | Nigeria | Togo
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Nigerian petroleum minister Timipre Sylva has called on all parties to fast-track the African Union (AU)-endorsed Trans-Saharan Gas Pipeline (TSGP) from Nigeria to Algeria via Niger. The move follows federal government backing earlier this month for Nigerian National Petroleum Company (NNPC) to enter an agreement with the Economic Community of West African States (Ecowas) to build the ambitious Nigeria-Morocco Gas Pipeline (NMGP).

Algeria | Morocco | Nigeria
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London’s High Court ruled that JP Morgan did not breach fiduciary rules when it transferred funds stemming from the sale of the controversial oil production licence (OPL) 245. The judgement reveals further details of graft in the long-running saga, as Justice Cockerill found that the original award of the licence was probably corrupt and ex-oil minister Dan Etete had benefitted financially from it. Meanwhile, 25 years after it was first awarded, other disputes continue over the highly prospective OPL 245.

Nigeria
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London AIM-listed Savannah Energy has signed an agreement with TransAfam Power Ltd (TAPL) to supply gas to its power plants in Rivers State.

Nigeria
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Copenhagen-based start-up Solstroem has received a $150,000 convertible loan from Shell’s All On to roll out its carbon credit platform to Nigerian solar home system developers.

Nigeria
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The Abuja government has given a green light for construction of the Nigeria-Morocco Gas Pipeline (NMGP) connecting Nigeria, Morocco and at least 11 countries in between.

Nigeria | Morocco