Energy | CEO Business Africa

Minigrid energy sector grows in Africa despite government bias towards centralised grid

July 6, 2022July 6, 2022

AFRICA – Africa’s minigrids sector has doubled the number of people it connected to modern and reliable electricity in the last two years amidst the COVID-19 pandemic. Today, more than 500,000 people, healthcare facilities schools and businesses in sub-Saharan Africa can access stable electricity thanks to minigrids. This is according to the Africa Minigrid Developers Association’s (AMDA) second edition of…

BOCOM Petroleum secures US$52m from IFC to expand access of LPG

July 1, 2022July 1, 2022

CAMEROON – BOCOM Petroleum SA, a leading Cameroonian importer and distributor of petroleum products, has secured €50 million (US$52.31m) financing package through a partnership with International Finance Corporation (IFC), a member of the World Bank. IFC will help BOCOM expand access to liquified petroleum gas (LPG) in Cameroon. The partnership is aimed at boosting access to cleaner and more reliable…

iGas, CMG acquire minority stake in Mozambique’s pipeline company ROMPCO

July 1, 2022July 1, 2022

MOZAMBIQUE – iGas, the South African gas development company, and Mozambique’s Companhia Mocambiçana de Gasoduto (CMG) have acquired a 30% equity stake in the 865km Republic of Mozambique Pipeline Company (ROMPCO) pipeline. Sold for R4.1 billion (US$251.06m), plus a deferred payment of R1 billion (US$61.23m) pending specified conditions are met by June 30, 2024, the shares bring iGas and CMG’s…

NamPower increases affordable electricity with the launch of 20 MW solar power plant

June 27, 2022June 27, 2022

NAMIBIA – Namibian state-owned utility, NamPower, has inaugurated the utility’s first fully owned 20MW photovoltaic (PV) power plant in Omaruru in the Erongo region. The Omburu PV project which took 15 months to complete, was constructed through a joint venture between Hopsol Africa and Tulive Private Equity. According to Nampower, the plant, which occupies 40 hectares, is expected to supply…

British International Investment, Norfund, Scatec invest US$200m in African hydropower

June 23, 2022June 23, 2022

AFRICA – The UK government’s development finance institution British International Investment (BII) plans to invest US$200 million in a joint project with Norway’s Norfund to construct at least three hydroelectric power projects in Africa. The two institutions will equally split a 49% shareholding in a joint venture with Norway’s Scatec ASA for the projects, BII said in a statement. These…

Energy company Sodigaz secures US$13m financing from IFC to boost access of clean energy

June 17, 2022June 17, 2022

BURKINA FAS0 – The International Finance Corporation (IFC) a member of the World Bank group, has announced a €12.4 million (US$13m) financing package for energy company Sodigaz, to boost access to cleaner and more reliable energy in Burkina Faso. IFC’s support will help Sodigaz increase the distribution of liquified petroleum gas (LPG) to underserved rural households across Burkina Faso and…

BGFA launches US$15 funding round for off-grid renewable energy solutions in DRC

June 7, 2022June 7, 2022

DRC – The Beyond the Grid Fund for Africa (BGFA) is launching a €15 million (US$15.99m) funding round to support electrification through off-grid renewable energy solutions in the Democratic Republic of Congo (DRC). Off-grid solar energy providers operating in the Democratic Republic of Congo (DRC) have the opportunity to receive funding to accelerate their activities. Managed by the Nordic Environment…

Mahlako Energy fund invests in Harmony Gold’s Phase 1 solar project

June 4, 2022June 4, 2022

SOUTH AFRICA – Mahlako Energy Fund, an energy investment and advisory firm, has concluded its investment in an industrial independent power generation project for the Harmony Gold Mining-commissioned 30 MW solar photovoltaic (PV) portfolio. The fund, managed by Mahlako Financial Services, has invested alongside African Infrastructure Investment Managers’ (AIIM’s) IDEAS Fund, and Rand Merchant Bank (RMB) as debt arranger. This…

Nyamwamba ll hydroelectric power plant secures US$10m financing from EAIF

May 31, 2022May 31, 2022

UGANDA – The Emerging Africa Infrastructure Fund (EAIF), a financing facility of the Private Infrastructure Development Group (PIDG), has confirmed its financing for the Nyamwamba ll hydroelectric power plant in Uganda. The US$10.6 million loan is being provided to its developer Serengeti Energy which will be repaid over 17 years. This financing is a further step towards the financial closure…

French energy company EDF acquires 50% stake in Distributed Power Africa

May 24, 2022May 24, 2022

SOUTH AFRICA – Électricité de France (EDF), the French energy giant, is acquiring 50% of Distributed Power Africa (DPA), a Cassava Technologies business, seeking to develop hybrid energy solutions for businesses in SA. The partnership will bring to life 75MW of green energy projects that DPA has in SA, targeted at commercial and industrial customers. “South Africa is facing long…