Lights beamed down the hall, changing colors every few minutes and glittering against the stage where several business people sat on a panel to fire up a dimly lit crowd. Emmanuel Birba was one of these panelists gathered at the closing of the second edition of a forum organised to mobilise resources to fill Africa's enormous gap in infrastructure financing.
A native of the Caribbean, the tall and young Birba told his audience, dealing with Africa should not be seen as “a one-night stand.” The crowd murmured, some with hysterical laughter. From a panelist who sat next to him: “You can't dream big and invest small in Africa.” Another won applause from the gathering when declaring, “If you aren't in Africa, you aren't in business.”
The message appeared to have hit home, judging by the over 2,200 people from over 25 countries assembled inside the Sandton Convention Centre of Johannesburg, South Africa, for the Africa Investment Forum, who appeared to have taken this statement literally. Two weeks ago, they were there shopping for viable projects in Africa, whether in energy, infrastructure, transport or logistics. Equally, there were as many representing African countries but determined to pitch their respective projects, chasing capital moving around the world.
Kenya Electricity Generating Company (KenGen) said Thursday it has clinched a 5.8 billion shillings (58 million U.S. dollar) contract to drill 12 geothermal wells in Ethiopia. Rebecca Miano, KenGen CEO said the contract with Ethiopia's independent power producer, the Tulu Moye Geothermal Operations, will also include installing a water supply system and equipment.
"This project entailed intense negotiations and planning. We are excited our efforts bore fruit. Being fully aware of the task ahead of us, we have rolled our sleeves and are now all set and ready," Miano said in a statement issued in Nairobi. The electricity producer will supply drilling materials and also provide operation and maintenance services for both the drilling equipment and the water supply system.
Miano said the contract is the second and the company's largest consultancy outside Kenya. In February, KenGen won a contract to drill geothermal wells for the Ethiopian Electric Power in Aluto, Ethiopia.
Miano said KenGen, which has embarked on a diversification strategy, leverages its expertise in geothermal energy by offering commercial drilling services, geothermal consulting and other related services across Africa.
She said the firm has invested in experts with considerable experience in geothermal exploration and drilling and will build the capacities of teams from Ethiopia who will be working on the project.
Kenya is Africa's number one geothermal energy producer and among the top 10 in the world, according to KenGen. The country has an estimated potential of 10,000MW along the Rift Valley.
The news was also reported by addisstandard
Tender Announcement: An invitation to bid for a full service drilling contractor at Alalobad in Ethiopia has been issued for Ethiopian Electric PowerSuccessful conclusion of Workshop on African Union Code of Practice for Geothermal Drilling
The technology group Voith has signed a comprehensive service and operations consultancy contract for the Ethiopian hydropower plant Gilgel Gibe II during the „G20 Investment Summit” on November 19 in Berlin, Germany. The agreement was signed by the Ethiopian Minister of Water, Irrigation and Electricity Dr. Seleshi Bekele and Mark Claessen, Managing Director Voith Hydro East Africa in the attendance of Peter Altmaier, the German Federal Minister for Economics and Energy. The investor summit took place within the „G20-Initiative Compact with Africa“. Twelve Heads of State of the African Compact partner countries as well as South Africa, acting as G20 partner of the intitiative, were attending the summit.
The Saudi Arabian power company that just one month ago won a contract to develop two solar farms, which will have 250MW in combined capacity, has already commenced mobilizing for the project. ACWA Power, which will develop a power plant with its own 300 million dollars in financing, started clearing the two sites and hiring employees that will engage in the development of the projects. One of the projects, Gad, is located 40Km from Dire Dawa in Somali Regional State, while the other project, Dicheto, is found 90Km from the town of Semera, close to the border with Djibouti in Afar Regional State.
The agreement for the two projects was signed early last week between Ahmed Shide, minister of Finance and the chairperson of the Private Public Partnership (PPP) Board, and Paddy Padmanathan, CEO and President of ACWA. Ethiopian Electric Power has also joined the two parties in signing the contractual agreement that will last for 15 to 20 years. The Saudi Arabian firm will develop the two solar farms on the land provided by the government of Ethiopia. The company won the bid after vying with four other companies that made it into the screening stage. Initially, a total of 12 pre-qualified prospective bidders took part in the bidding process after being shortlisted by the board of the PPP directorate.