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The International Finance Corporation (IFC) announced on 21 February that a second mandate for its Scaling Solar programme has been signed with the government. Zambia’s Industrial Development Corporation has already issued a request for expressions of interest (EoIs) for 150MW-250MW projects, with a deadline of 24 March. Submission of an EoI is not compulsory for participation. Prequalification is expected in late March. Between 250MW and 350MW will be procured under a subsequent procurement round, with the IFC’s mandate covering up to 500MW.


Solar developer SkyPower has announced the signing of a landmark agreement with Djibouti for the development of 200MW of solar projects to be built in four phases over the next four years. SkyPower said the project would represent an estimated investment of $440m, including corporate social responsibility investments of $11m towards education, training, research and development in Djibouti. “SkyPower’s commitment will reduce Djibouti’s dependence on energy imports and significantly increase local power generation capacity,” said executive vice-president Charles Cohen.


The European Investment Bank and African Development Bank have approved financing totalling E45m ($56m) for the Cabeólica wind power project being developed on a public-private partnership basis by InfraCo, Electra and the Cape Verde government.

Cabo Verde
Issue 280 - 28 June 2014

Inga III consultancy tenders


As part of the Projet d’Appui au Développement Site d’Inga et de l’Accès à l’Electricité, which is financed by the African Development Bank and forms part of the Inga III project, documents for several consultancy tenders are expected to be released next month, with requests for proposals expected in September at the earliest. Services are being sought from international financial advisers and monitoring and evaluation specialists to oversee the administrative and financial management of the project. Contact: Bernard Diayele, Coordonnateur du project. Tel: +243 84 4687751. Email: [email protected]. Julien Sango Motha, Expert aux acquisitions. Tel: +243 81 5846386. Email: [email protected].

DR Congo
Issue 220 - 18 November 2011

Coder issues HEP tenders


Renewable energy developer Compagnie de Développement des Energies Renouvelables (Coder) is seeking bids for the supply of generation equipment for the Chutes de l’Imperatrice and Chutes de Fe2 hydroelectric power projects

Issue 357 - 09 November 2017

Namibia: Kudu set for FID


A final investment decision (FID) on development of the Kudu gas project is expected late this year or in Q1 2018, with the start of commercial operations targeted for end-2021. Namcor managing director Immanuel Mulunga told Africa Upstream the partners were expecting financial close in mid-2018. He told reporters Namcor planned to farm down some of its 44% stake in the upstream element of the project and was considering various debt and equity options.

Issue 224 - 02 February 2012

Tullow lowers forecast for Jubilee field


Tullow Oil caused market ripples on 18 January when an update said output from the Jubilee field would average a lower-than-expected 70,000-90,000 b/d in 2012


Two recent long-term bond issues to support the Kenyan power sector have demonstrated the potential capital markets support for sub-Saharan borrowers. Bankers who spoke to Kevin Godier saw an opportunity for a spate of new issues to follow as a new market matures, stimulated by global demand


Despite pressure on donors from renewed opposition to big dam projects, the World Bank board on 20 March approved a $73.1m technical assistance grant for the Inga III Basse Chute project. The bank said the grant for the Inga III Basse Chute and Mid-Size Hydropower Development Technical Assistance Project would finance a series of environmental, institutional, social and technical studies to guide sustainable development of Inga III and selected mid-size hydropower projects. The bank said the project would create national institutions such as the Inga development agency to pilot site development and award concessions on a competitive basis.

DR Congo
Issue 170 - 19 September 2009

Refinery projects defy investment hurdles


Two refinery projects are going ahead in Egypt – the first led by local private equity group Citadel Capital, and the second by Sokhna Refining & Petrochemical Company (SRPC), which is said to be building a $2.2bn refinery in Ain Al-Sokhna. Egypt’s planned new refinery projects have suffered from the global financial crisis, which has made raising funds difficult and driven up costs.

Issue 212 - 02 July 2011

Oil dispute resolved


Trading in Madagascar Oil shares resumed on 27 June after the company said its dispute with the government over the Tsimiroro Block (Block 3104) had been resolved

Issue 402 - 25 October 2019

African leaders flock to Sochi summit


More than 40 African leaders have headed to the Black Sea resort of Sochi for the 23-24 October Russia-Africa summit. Significant military deals are expected to be signed, as well as nuclear and oil and gas agreements. Russia, whose African presence waned after the Cold War, is making a new push to increase its influence to compete with China, Europe and the Gulf states. In Guinea, where Rusal owns bauxite mines, Russian ambassador Alexander Bregadze has spoken in support of President Alpha Condé’s controversial bid to change the constitution so he can run for a third term.

Issue 296 - 12 March 2015

Horn changes name and focus


Having suspended its operations in Puntland in February, Horn Petroleum has announced a new identity which bears a marked resemblance to the former Energy Africa. Horn said it planned to take advantage of the low oil price “to aggressively pursue onshore and shallow-water upstream oil opportunities in Africa”. It will change its name to Africa Energy Corporation, move to Cape Town, and bring in Energy Africa stalwarts Jan Maier as vice-president exploration and John Bentley and Adrian Nel as directors. Energy Africa was taken over by Tullow Oil in 2004 and is fondly remembered by former employees.

Issue 242 - 01 November 2012

Africa Oil completes Marathon farm-out


Marathon Oil Corporation has acquired a 50% interest in Africa Oil Corporation (AOC)’s Block 9 and a 15% interest in Block 12A.

Issue 260 - 09 August 2013

Saipem: Corporate governance


Italian engineering company Saipem, 42% owned by Eni, appointed a corporate governance veteran to its board in late July. The new deputy chairman and non-executive director is Piergaetano Marchetti, a lawyer and professor emeritus in commercial law at the University of Milan. “Marchetti is an expert on corporate governance and will bring great depth of expertise,” said Saipem chief executive Umberto Vergine. Saipem is embroiled in a corruption investigation in Algeria and on 30 July announced a Q2 13 net loss of €685m ($911m) and an operating loss of €670m as revenue slipped 36% to €2.10bn.