Mozambique to offload majority stake in US$2.4b Mphanda Nkuwa hydropower dam

MOZAMBIQUE – Mozambique has announced plans to sell a majority stake in the planned US$2.4 billion Mphanda Nkuwa hydropower, which is set to be one of the biggest in Southern Africa. The aim is to reach a financial close by 2024 on the 1,500MW facility and an associated transmission line that could increase the total project cost to as much as US$4.4 billion. The government will issue a request for proposals this year 2021 and will take up to four months to select the winner and another six weeks to…

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Tanzania signs US$140m loan agreement with AfDB for construction of hydropower plant

TANZANIA – The African Development Bank Group (AfDB) and the Government of Tanzania have signed a US$140 million loan agreements for the construction of the 50-megawatt Malagarasi hydropower plant in Western Tanzania. The agreements cover a US$120 million sovereign loan from the Bank and US$20 million from the Africa Growing Together Fund (AGTF), administered by the Bank. Emmanuel M. Tutuba, Permanent Secretary at the Tanzania Ministry of Finance and Planning, and Nnenna Nwabufo, Director General of the Bank Group’s East Africa Regional Development and Business Delivery Office, signed the agreements.…

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Ivanhoe Mines Energy and La Société Nationale d’Electricité sign MoU to strengthen hydropower in DRC

DRC – Ivanhoe Mines Energy has signed a Memorandum of Understanding in a public-private partnership with the DRC’s state-owned power company La Société Nationale d’Electricité (SNEL) to deliver reliable, clean, and renewable hydropower to the Kamoa Mine. Ivanhoe Mine’s Co-Chairs Robert Friedland and Yufeng ‘Miles’ Sun explained that Ivanhoe Mines Energy DRC’s (which is a sister company of Kamoa Copper SA) public-private partnership with SNEL is aimed at working together to strengthen the grid’s capacity. This objective is to be met with renewable energy through the upgrade of a major…

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Eskom Uganda to rehabilitate Kiira hydropower plant at a cost US$1.4m

UGANDA – Eskom Uganda, the subsidiary of South African energy utility Eskom, will invest US$1.4 million in the rehabilitation of the 200 MW Kiira hydropower plant. The project will be implemented by the Austrian company Andritz Hydro and the Austrian company will supply and install the new equipment, which will have a life cycle of 15 years.  The operations initiated by Eskom Uganda are aimed at upgrading the regulator in units 14 and 15 of the Kiira hydropower plant, located just outside the town of Jinja in the Eastern Region…

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AfDB lends Angola US$530m for hydropower transmission

ANGOLA – The African Development Bank (AfDB) has approved a US$530 million loan to Angola which will be used to build a transmission line to link the north and south of Angola, as well as to connect households to the national electricity grid. Of the funding allocated by the African Development Bank, US$480 million represents a loan from the pan-African financial institution while the other US$50 million of the funding comes from the Africa Growing Together Fund (AGTF), a US$2 billion fund established in 2014 by the AfDB and the…

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Rwanda’s HQ Peat Power Plant construction nears completion after more than 3 years

RWANDA – MHQ Peat Power Plant in Rwanda is nearing completion after approximately three years of construction, the General Manager of HQ Power Dominique Gubbini, the General Manager of HQ Power, the company behind the development of the facility has said. HQ Power is owned by a Turkish investor called HAKAN AS, an international power company dubbed Quantum Power, with the participation of Themis, a leading project developer and investor with an exclusive focus on incremental renewable power generation assets in Sub Saharan Africa. Mr. Gubbini said that by March 2021, the plant which…

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AfDB approves US$120m loan to build Malagarasi hydro-power project in Tanzania

TANZANIA – The African Development Bank (AfDB) has approved a US$120 million loan to fund the construction of a 50MW hydro-power plant in Western Tanzania that will provide reliable renewable energy in Kigoma region. The Malagarasi hydro-power project has several components: a run-of-the-river hydro-power plant facility; a 54- km, 132 kV transmission line that will connect to Tanzania’s national grid; a distribution network expansion operation that includes rural electrification and last-mile connections; project management and contract administration support; and compensation and resettlement of affected persons. Bank President Adesina Akinwumi noted…

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DRC re-ignites plans to sell Grand Inga dam power to Africa

DRC – The Democratic Republic of Congo has restarted plans to sell the power from Grand Inga dam project to the continent. The ambitious plan had been put on hold due to the novel corona virus disease which has disrupted most of the activities in the continent. However, at a Council of Ministers summit on June 12, President Félix Tshisekedi announced that the country was planning to market the power potential of the Grand Inga dam at African Heads of State meeting to be held soon. President Tshisekedi explained that…

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Côte D’Ivoire’s Azito Energie secures US$31m from EAIF to fund power plant expansion

COTE D’IVORE – The Emerging Africa Infrastructure Fund (EAIF), a member of the Private Infrastructure Development Group (PIDG), has lent €28m (about US$30.98 million) to fund the expansion of the Azito Energie gas-fired power station in Côte D’Ivoire. Martijn Proos, Director at EAIF’s fund managers, Investec Asset Management, said:“Azito Energie is a proven business with a management team that has  operated  a successful plant for a number of years.” Proos explained that expanding Côte D’Ivoire’s base load electricity capacity will improve the resilience of the economy, help stimulate business activity…

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IFC leads other lenders in advancing US$453m loan to Nepal’s energy company for hydroelectric power plant construction

NEPAL —IFC, a member of the World Bank Group, and a consortium of other lenders have finalized a $453 million debt financing package that will support the construction of a landmark hydroelectric plant in central Nepal. The plant according to an IFC press release, will increase Nepal’s electricity supply by one-third from today’s levels and provide clean, reliable power to some 9 million people. IFC is the lead arranger of the debt package, which includes eight other lenders, and is one of the largest foreign direct investments in Nepal’s history.…

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