Energy |

Investment | Gas May Transform Mozambique Even as Debt Darkens Confidence

MAPUTO, Mozambique, Capital Markets in Africa: About 30 minutes down a pot-holed road from Vilanculos, where dhows ferry tourists to luxury resorts on Bazaruto island, Sasol Limited is ramping up output of a fuel that could transform the world’s 13th poorest nation. Vast gas discoveries hold the potential to boost Mozambique’s economy, more than three decades after the apartheid regime of neighboring South Africa backed rebels in a civil war that laid waste to the former Portuguese…

Infrastructure | Access Energy Developing a $200-Million Solar Plant in Nigeria

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Lagos, Nigeria, Capital Markets in Africa — Access Energy Group, a Dubai-based renewable energy company, is developing a 100-megawatt solar project in northern Nigeria. The plant will be in the Kaduna state, north of the capital of Abuja. It is expected to cost around $200 million and be built in two phases of 50 megawatts, Reda El Chaar, the company’s managing director, said in an interview in London. The project is fully licensed and Access Energy…

OPEC Invite Has Gabon Mulling Best Response to Oil Nightmare

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Libreville, Gabon, Capital Markets in Africa — Gabon is considering a return to OPEC and trying to rally fellow African nations for a more coordinated response to slumping oil prices, President Ali Bongo Ondimba said. Some members of the Organization of Petroleum Exporting Countries have asked the West African nation to rejoin the group after 21 years as producers seek to “fight together” to stabilize prices, Bongo said during an hour-long interview at Bloomberg headquarters in New York. Gabon hasn’t…

Africa Oil announces farm-out deal with Maersk Oil for Kenya and Ethiopia blocks ….

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Nairobi, Kenya, Capital Markets in Africa — Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce that it has entered into a definitive farm-out agreement with Maersk Oil & Gas A/S, a Danish oil and gas company owned by the Maersk Group (“Maersk”) whereby Maersk will acquire 50% of Africa Oil’s interests in Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and South Omo Blocks in Ethiopia in consideration…

Lekela Power signs MoU for US$350m wind power station in Egypt, following meeting with President Al-Sisi

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CAIRO, Egypt, Capital Markets in Africa —– Actis controlled Lekela Power, a $1.9bn pan-African renewable power generation company has signed a Memorandum of Understanding with the Egyptian Electricity Transmission Company for a 250 MW wind power station in Egypt’s Gulf of Suez area. Lekela Power is owned 60% by Actis, a leading emerging markets investor and 40% Mainstream Renewable Power, a global wind and solar company. This latest power station is Lekela Power’s third project…

AfDB supports improved electricity access in Guinea, Guinea-Bissau, Gambia and Senegal

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Abidjan Cote D’Ivoire , Capital Markets in Africa — The African Development Bank approved on Wednesday, September 30, 2015 a €121.5-million [1] package to the Gambia River Basin Development Organization (OMVG) to improve electricity access and provide renewable, clean and affordable energy in The Gambia, Guinea, Guinea-Bissau and Senegal. Electricity supply in the OMVG region is limited, unreliable and costly. Access rates vary from 12 percent in Guinea, 19 percent in Guinea-Bissau, 35 percent in…

African Renewable Energy Fund, successfully reaches final close at its target of US $200 million

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Abidjan, Cote d’Ivoire, Capital Markets in Africa —The African Renewable Energy Fund (AREF), a dedicated renewable energy fund focused on sub-Saharan Africa, announced during the African Development Bank’s “Energy Week” that it successfully reached its final close at its hard cap, with US $200 million of committed capital to support small- to medium-scale projects, with investment at the final close from European Investment Bank (EIB) and the Global Energy Efficiency and Renewable Energy Fund (GEEREF), among…

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