he World Bank, African Development Bank (AfDB), Japan International Cooperation Agency (JICA) and French Development Agency are among some of the multilateral donor agencies that have raised $1.57 billion for the Transmission Company of Nigeria (TCN) to expand Nigeria's electricity grid to 20,000 megawatts (MW) within the next four years, THISDAY learnt Tuesday in Abuja. The funds according to the Managing Director of the TCN, Mr. Usman Mohammed, were raised for the company to implement its Transmission Rehabilitation and Expansion Programme (TREP).
Mohammed said the TREP was initiated and approved by the federal government for the TCN to steadily grow, stabilise and modernise Nigeria's transmission network so it can take more electricity from generation companies (Gencos) to distribution networks. He disclosed this when the TCN hosted a workshop with stakeholders in the electricity industry to review its plan to procure and install brand new supervisory control and data acquisition (SCADA) and electricity management system (EMS) for the national grid.
(AfDB/News and Events, 29/05/2018
The African Development Bank, the Green Climate Fund (GCF) and the Africa50 investment fund signed a letter of intent to collaborate on the Desert to Power programme on the sidelines of the Bank’s Annual Meetings, Busan, Korea. The Desert to Power programme, initiated by the Bank, aims to develop 10,000 MW of solar energy across the Sahel region. It is intended to provide solar generated electricity to 250 million people, including 90 million through off grid solutions, thereby enabling the development of agriculture and other economic activities. The three institutions agreed that they will share ideas and resources about opportunities to make solar power available throughout the Sahel region, transforming African deserts into new sources of renewable energy.
(Engie Africa, 3 April 2018)
Global utility company ENGIE and off-grid energy leader Fenix International have closed their acquisition agreement today. Fenix is the first Solar Home System “SHS” company to join a major worldwide energy com-pany and has already delivered clean, safe and affordable energy and financial services to over one million people. ENGIE and Fenix have ambitious targets to reach millions of households across Africa and this partnership will accelerate and expand Fenix’s ability to scale off-grid energy and financial services. Fenix will gain access to ENGIE’s supply chain, expertise, long-term capital investments and talent across the energy value chain.
Globeleq, a power sector leader in Africa, has reached financial close of the 40 MWAC (52 MW p) Malindi Solar photovoltaic (PV) project in Malindi, Kenya and is commencing construction of the plant. The US$69 million project is located in Langobaya, Malindi District, Kilifi County, about 120 kms north-east of Mombasa and is one of the first IPP owned utility scale solar power plants in Kenya to begin construction. Electricity will be sold through a 20-year agreement with the national distribution company, Kenya Power.
Globeleq has been working with the project originator, Africa Energy Development Corporation (AEDC), who will retain 10% ownership of the project, and its partner, IDEA Power, to bring the project to construction by providing equity, project development and construction management experience. CDC, the UK’s development finance institution, as the mandated lead arranger, has sourced US$52 million in debt financing including $20 million from DEG, the German development finance institution.