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Subscriber
Project bulletin

Anirep Aussenkjerr Solar One Namibia has secured a NAD193m ($12.3m) facility from the Development Bank of Namibia (DBN) to finance the 20MW Khan solar plant.

Namibia
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Xlinks has secured an undisclosed investment in its Morocco-UK power project from UK-based energy supplier Octopus Energy Group as it pushes ahead with the ambitious scheme. Speaking to African Energy, Xlinks said it has also secured development finance commitments and is in talks to raise funding to cover the full cost of the project.

Morocco
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Afreximbank and the African Petroleum Producers Organisation (APPO) have agreed to jointly create the African Energy Transition Bank to fund gas and oil projects and other energy schemes around the continent, at a time when many traditional sources of funding are drying up. However, many details remain to be ironed out, including how it will be funded.

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Africa Finance Corporation (AFC) has launched the African Economic Resilience Facility to support economic recovery on the continent, following the Covid-19 pandemic and the war in Ukraine.

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Dinson Iron and Steel Company is arranging a loan to Zimbabwe Electricity Transmission and Distribution Company (ZETDC) to build a 330kV, 100km line to connect the Chinese company’s iron and steel plant in Chivhu to the national grid.

Zimbabwe
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Project bulletin

Dubai-based Amea Power has secured funding for the 26.6MW solar PV project from the International Finance Corporation and others.

Burkina Faso
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Project bulletin

The World Bank Group (WBG) is financing the development of four small solar PV projects through its Renewable Energy and Improved Utility Performance Project. The projects include a 1.3MW plant on Fogo island, 1.2MW on Santo Antão island, 400kW on Maio island and 400kW on São Nicolau island. The WBG will also provide technical assistance for the privatisation and restructuring of energy utility Electra.

Cape Verde
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A dispute over loans given to Aiteo Eastern E&P to pay for its acquisition of Nigerian oil assets from Shell in 2015 is heading for arbitration after a London court ruling. One lender warned that a default could have serious consequences for the Nigerian banking system.

Nigeria
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Independent power producers (IPPs) have agreed to lower the price at which they sell electricity to Zambia's state power utility Zesco, according to energy minister Peter Kapala.

Zambia
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A month after demonstrators closed down parts of Libya’s oil production and export infrastructure, halving oil output in a protest against Prime Minister Abdel Hamid Al-Dabaiba’s refusal to hand over power, political and economic pressure is building at every point in the system. It remains unclear whether a deliberate financial squeeze will succeed in driving Dabaiba from office, or whether compromises can be found to get oil flowing again.

Libya
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Commodity traders remain vital to Africa and the global economy, yet even the mightiest traders are finding conditions difficult amid the shocks to oil prices and global markets caused by the Covid-19 pandemic and Russia’s war in Ukraine. Trading activity that was in the past routine has become unviable in recent months owing to the increased need for credit. African Energy examines how players have responded to changes in the sector over the past decade, from the information revolution – which has made previously difficult-to-acquire data readily accessible – to shifts in business models, at least in part, towards vertical integration and increasing scale, that have seen traders become processors and even producers in their own right.

Subscriber

Surging prices for wheat, oil and other commodities are placing strain on individuals, businesses and governments, with an increasing number of sub-Saharan countries now classed as ‘debt-stressed’. Defaults may be avoided this year, but ‘food riots’ could flare up. Yet commodity exporters may profit as the energy transition and geopolitical shifts present opportunities for everything from natural gas to transition minerals, writes Marc Howard, with African Energy staff.

DR Congo | Nigeria | Zambia | Tanzania | South Africa
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Sun King – the rebranded Greenlight Planet – has raised $260m in a funding round. The series D round attracted major private institutional investors. The fundraising was seen by some observers as a vote of confidence in the solar home system industry, which has suffered negative press in recent months over alleged sharp business practices and continues to face questions about the sustainability of business models.

Kenya | Nigeria
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The Nigeria-Morocco Gas Pipeline (NMGP) scheme has secured more funding for studies – this time from the Opec Fund for International Development – despite some scepticism about the mega-project’s potential to ever get off the ground. Consultants have been lining up, with Australia’s Worley contracted to provide engineering services.

Nigeria | Morocco
Subscriber

Power trader Africa GreenCo has raised a further $15.5m with the aim of backing up to 110MW of new solar PV capacity. GreenCo is the first member of the Southern African Power Pool’s (SAPP) market participant category and aims to procure renewable power to sell directly to industrial consumers or trade on SAPP markets.

Zambia