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India’s Nava Bharat Ventures Ltd expects to reach financial close on $560m long term debt financing for a $800m, 300MW coal mouth power project in early 2014. The African Development Bank (AfDB) approved a $150m loan for the project on 2 October (AE 263/7) and it is also supported by an export credit agency (ECA) facility from China’s Sinosure. It will burn low-grade coal which is currently at risk of spontaneous combustion while lying dormant at the Maamba colliery. Financial close had been expected in October but has been delayed as the Chinese sanction process is taking longer than expected.

Zambia
Issue 235 - 12 July 2012

Tanzania: BG drilling

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Having completed operations for BG at the Mzia-1 discovery on Block 1 on 21 May, the Deepsea Metro 1 is now drilling the Papa-1 well on Block 3.

Tanzania
Issue 156 - 06 February 2009

ABB wins transmission order

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ABB has won an order worth $53m from Eskom to strengthen the transmission network in the Western Cape region. ABB will design, manufacture, install and commission six 765kV capacitor banks at the Alpha, Beta, Mercury and Perseus substations.

South Africa
Issue 364 - 01 March 2018

Woodside: Fundraising

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Woodside Energy has raised A$1.57bn ($1.24bn) through an Institutional Entitlement Offer of new shares. The company will use the cash to fund the acquisition of ExxonMobil’s stake in the Scarborough gas field offshore Western Australia, and for its other operations, including the SNE Phase 1 development in Senegal. The offer is the first stage of a planned equity raising announced on 14 February to raise A$2.5bn. A retail component closing on 7 March is planned to raise another A$960m.

Senegal
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MART RESOURCES: Late filing; PACIFIC DRILLING SA: New Nigerian mandate; TGS: New senior VP for Africa, Mideast, Asia Pacific

Nigeria
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South African asset manager Inspired Evolution’s Evolution II Fund has partnered with the management of Building Energy to acquire Building Energy’s Africa and Middle East business. The new company, rebranded as Red Rocket, is majority owned by Evolution II and is being positioned as a new African integrated independent power producer, Red Rocket chief executive Matteo Brambilla told African Energy.

Issue 246 - 17 January 2013

South Africa: REIPP developments

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Chinese solar power product manufacturer JinkoSolar Holding Company Ltd announced in December that it had signed a deal with WBHO-Building Energy Ltd to supply solar photovoltaic (PV) modules with capacity of 81MW to the Kathu power project in Gamagara Municipality, Northern Cape.

South Africa
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A campaign group based in Galway and London has filed a complaint with the Irish government claiming that San Leon Energy is in breach of the guidelines for multinational enterprises set out by the Organisation for Economic Co-operation and Development (OECD) due to its activities in the onshore Tarfaya and Zag licence areas. On 24 October, Global Legal Action Network (Glan) approached the Irish government’s National Contact Point (NCP), which is based in the Department of Business, Enterprise and Innovation and deals with corporate adherence to the OECD’s guidelines.

Morocco
Issue 192 - 06 August 2010

UPC’s assets in Namibia

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Blocks 1711 (2.7% carried interest) and 2713 A&B (90% working interest) – in February 2008, UPC signed a letter of intent (LoI) with Telpon Property Holdings to buy up to 90% of Kunene Energy, a black economic empowerment (BEE)

Namibia
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The European Investment Bank in July approved a €72m ($81m) financing package for a €311m project to add another 70MW turbine to Kenya Electricity Generating Company’s Olkaria I geothermal complex in Naivasha district. The new unit will be sited next to units IV and V, both 70MW, which were commissioned in 2014. Units I, II and III are each 15MW and came online in 1981, 1982 and 1985 respectively.

Kenya
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Struggling to build consensus around its post-Mubarak reforms, Egypt’s government faces an electric power, gas and crude oil supply crisis that has the potential to derail its post-Arab Spring political settlement, writes John Hamilton.

Egypt
Issue 161 - 24 April 2009

Libyan success for Sonatrach

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While many IOCs complain that disappointments with the drill bit, as well as the growing demands of government, are discouraging them in what seemed a global-scale business opportunity, Algeria’s state company Sonatrach has announced a find that will give heart to its efforts to become a significant

Libya | Algeria
Issue 268 - 20 December 2013

Morocco: Jorf Lasfar raises $183.5m

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An MD1.5bn ($183.5m) capital increase for Jorf Lasfar Electricity Company (JLEC), owned by Abu Dhabi National Energy Company (Taqa), reminds investors that, even if the economy is under pressure from the government’s huge subsidies bill (mainly for fuel) and the Casablanca bourse has been in the doldrums for several years, the Moroccan market has sufficient depth to mobilise substantial finance for energy and other projects. After the initial public offering (IPO), JLEC’s capital will be MD9bn. The IPO raised MD1bn via the bourse, in Morocco’s biggest IPO since 2008, with 2.2m shares priced at MD447.5 each issued on 10 December.

Morocco
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A group claiming to represent the Movement for the Emancipation of the Niger Delta (Mend), a loosely co-ordinated militant organisation that seeks increased local participation in Nigeria’s oil sector, has claimed responsibility for starting a fire in the topping section of the Warri refinery on 22 October. 
Nigerian National Petroleum Corporation spokeswoman Tumini Green said the fire had rapidly been brought under control by firefighters and refinery staff, and the cause was being investigated. 
In a statement claiming responsibility, Mend said the fire proved its Hurricane Exodus campaign was on course. 


Nigeria
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With Tullow Oil’s shares trading at their lowest levels since 2009, results of the Frégate well currently drilling on Block 7 offshore Mauritania will be closely watched. Exploration elsewhere on the West African coast has not so far matched the spectacular success of Ghana, and Tullow cites Mauritania, as well as Côte d’Ivoire, as the region’s best prospects. Frégate spudded in mid-August, and with rig rates estimated at $1.2m/day, plus $10m mobilisation and demobilisation costs, the bill is expected to be heavy.

Mauritania