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AIM-listed Chariot has appointed Société Générale’s London branch as its financial advisor to develop debt funding options for the offshore Anchois gas development in Morocco. 

Crippling foreign exchange shortages have led Starsight Energy to refinance its debt to two development finance institutions through local currency funding from Chapel Hill Denham’s Nigeria Infrastructure Debt Fund.

Commercial and industrial power developers see room for continued rapid growth in key African markets, with evolving deal structures proving competitive compared to unreliable and expensive grid electricity. C&I’s ascent is driving innovation in the terms of power purchase agreements and the profile of offtakers, write Tonderayi Mukeredzi and Marc Howard.

Cash-strapped South African state utility Eskom says it has used debt and its own cash to finance power transmission infrastructure projects that could unlock more grid capacity in the next few years as market operator NTCSA prepares for operation.

Angola's President João Lourenço travelled to Washington on 30 November to meet his American counterpart Joe Biden, in a meeting described by the White House as advancing the development of the 1,290km Lobito Corridor rail project.

Hong Kong Stock Exchange-listed MMG is to acquire Khoemacau Copper Mining Company for $1.9bn. Khoemacau’s mine in the Kalahari Copper Belt has production capacity of 60,000 t/yr of copper and 1.6m oz/yr of silver metal.

Danish investor and developer Frontier Energy has announced a co-investment with three European development finance agencies for the 50MWp, under-construction, multi-site Planet Solar independent power producer (IPP) plant. Planet Solar will be Sierra Leone’s first large grid-connected IPP, the funders said.

The South African government’s decision to approve state-owned PetroSA’s selection of an affiliate of Russia’s sanctioned Gazprombank as the preferred investment partner for the Mossel Bay GTL plant has sparked controversy.

The UAE’s latest comprehensive economic partnership agreement has been signed with Brazzaville, in another step forward for Abu Dhabi’s plans to build its global profile by negotiating bilateral trade deals.

African electricity markets are on the threshold of genuine reform in 2024, even if policy-makers’ grandest ambitions are destined to meet with disappointment. African Energy has examined the first data that has emerged from the third development phase of the African Union’s Continental Master Plan and found much to applaud.

An oversubscribed Eurobond issue in January indicated that Côte d’Ivoire’s strong economic performance – including 6.5% GDP growth, big infrastructure investments and Eni’s major Baleine oil and gas field – has been enough to allay investors’ concerns over the presidential succession and wider regional instability. These issues feature in the first of African Energy’s new series of Risk Management Reports (RMRs), which will provide updates, analysis and context on key political, social, economic and energy trends in countries across the continent. In line with the model established by African Energy’s sister publication Gulf States Newsletter (GSN), a ‘risk grade’ (explained below) is assigned to each country. A full list of African risk grades will follow soon.

Despite a 14GW announced pipeline of new power generation projects, 2023 was marked by the lowest amount of new-build capacity being added to the continent’s grid since 2018, according to new analysis from African Energy Live Data. Hydroelectric and solar additions came out on top, while gas-to-power schemes continued to disappoint as delays and unrealised projects clog up the project pipeline.

The sale by Denmark’s Investment Fund for Developing Countries of a minority stake in the successful Lake Turkana IPP to a fund managed by BlackRock shows big institutional investors can be attracted to sub-Saharan renewables – and the returns that can be made by those willing to shoulder early-stage risks.

Lotus Resources’ fundraising will help the Australian miner to restart the Kayelekera mine in Malawi, where negotiations for a power purchase agreement and grid connection with Escom continue.

Australian junior Deep Yellow has raised the equity to fund development of its flagship Tumas uranium project, where a new NamPower grid connection and 20MWp solar IPP are planned to supply power.