IFC, Scatec and EDF sign agreement to co-develop hydropower project in Malawi

MALAWI – The Government of Malawi (GOM), IFC, Scatec and EDF have signed a binding commercial agreement to undertake the co-development of the Mpatamanga hydropower project. The agreement, signed under Malawi’s Public-Private Partnership framework, concludes the selection process undertaken by the Government of Malawi to competitively select a private sector partner to finance, build, and operate the Mpatamanga hydropower plant.…

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

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…

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Zambia commissions 150MW Kafue hydroelectric power plant

ZAMBIA – Chinese company Sinohydro has commissioned the first 150MW unit of the Kafue hydroelectric power station and eventually add 750 MW of power to Zambia’s national grid. The Kafue hydropower project is being implemented by Sinohydro, about 50 kilometers south of Lusaka. The Chinese company has built an earth and rockfill dam with a concrete spillway with four radial…

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Ivoire Hydro Energy secures US$29m from EAIF for the development of 44MW hydro electricity generation plant

CÔTE D’IVOIRE – Ivoire Hydro Energy (IHE) has secured €25 million (US$29.46m) from The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, for over 18 years build a 44MW hydro electricity generation plant. The plant will be on the Bandama River near the village of Singrobo in Côte d’Ivoire and is forecast to take some 36…

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Jubilee Holdings raises its stake in the 250MW Bujabali power plant to 40.9%

UGANDA – Financial services holding company Jubilee Holdings has invested an additional US$40.7 million in Uganda’s hydroelectric power plant Bujagali, raising its stake in the project to 40.9 percent in the year ended December 2020. The Nairobi Securities Exchange-listed company previously held a 25 percent stake in the 250-megawatt plant which supplies half of Uganda’s effective energy capacity. Increased investment…

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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…

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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,…

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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…

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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…

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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…

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