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Malindi solar project reaches financial close

UK-based developer Globeleq announced on 3 June that the 40MWac (52MWp) Malindi solar photovoltaic project at Langobaya in Malindi district has reached financial close. India’s Sterling and Wilson is the engineering, procurement and construction...

Guinea-Bissau: Contract award for Saltinho project

The Organisation for the Development of the Gambia River (OMVG) has given a contract to a joint venture of Portugal’s COBA Consultores de Engenharia e Ambiete and the Portuguese subsidiary of France’s Artelia Eau & Environnement to carry out...

Ethiopia: Legal support for Scaling Solar

The World Bank Group’s International Finance Corporation Advisory is in preliminary discussions with Ethiopian Electric Power to be the lead transaction adviser for the second round of the Scaling Solar programme, which could procure up to 750MW...

Ethiopia: Consultant procurement for REIPP programme

Procurement of consultants for the Ethiopia Renewable Energy Programme I is expected to begin during June. The project is backed by a grant from the African Development Bank-managed Sustainable Energy Fund for Africa and aims to increase...

Egypt: BP to sell mature oil assets to Dragon Oil

BP has agreed to sell its interests in oil concessions in the Gulf of Suez to Dubai-based Dragon Oil as part of a portfolio review. The producing and exploration concessions include BP’s interest in the Gulf of Suez Petroleum Company (Gupco)....

DR Congo: Total pulls out of lake block

Total has signalled its intention to pull out of Block III on the Congolese side of Lake Albert which is up for renewal. Its South African partner Efora Energy said the licence had been extended to July 2019 for the remaining partners to carry...

Djibouti: Renewables projects

The Ministry of Energy and Natural Resources signed a memorandum of understanding with Engie on 28 May for a 30MW solar photovoltaic plant in the Ali-Sabieh region. The solar scheme will be followed by other energy projects such as rural...

TCX targets doubling of capital by 2021

Currency hedging company TCX has begun the process of doubling the capital it manages by 2021-22 with a £31m ($39.4m) investment from the UK’s Department for International Development (DfID). As well as increasing the size of the fund, TCX is...

ATI replaces sacked chief executive

The Africa Trade Insurance Agency (ATI) has announced an interim replacement for George Oduor Otieno, who is fighting his sacking as chief executive of Africa’s largest insurer. The ATI board decided in early May to sack Otieno, and his job was...

Lukoil buys New Age’s Marine XII stake

Russia’s Lukoil has bought New Age (African Global Energy)’s 25% stake in Eni’s Marine XII licence for $800m. New Age and Lukoil are partners in Cameroon, while Lukoil is also a partner with Eni in Kazakhstan, Mexico and elsewhere. The...

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