Friday, 3 December

Dear <<First Name>>

Late last week, renewable energy producer Scatec signed a 25-year power purchase agreement with the Lesotho Electricity Company (LEC) for a 20MW solar PV plant in Lesotho.

Neo 1 is Lesotho’s first privately financed, utility-scale solar PV power plant and is due to be built at Ha Ramarothole in Mafeteng District. For a country with a total energy capacity of approx. 100MW - of which around 45% is imported - the completion of the project would be no less than transformational.

It has taken five years to get to this point, after the Government of Lesotho issued a tender for the plant in 2016, and it’s not a done deal yet. Camco-managed REPP is the sole mandated lender to the project and we are now in the process of carrying out due diligence, with the hope of finalising most of the work by the end of the year.

So, while there’s a little more waiting needed to see this landmark project continuing into financial close and construction, last week’s signing - which also included the implementation and connection agreements - is nothing short of a major breakthrough. I would like to congratulate LEC, the Government of Lesotho, Scatec, OnePower Lesotho and everyone else involved in this very notable achievement.



Managing Director, Camco Clean Energy

Camco news

Camco is looking for a Finance and Operations Associate to join the Nairobi office. The application deadline is 12 December. 
Story of the week

A 100MW solar photovoltaic (PV) power plant in DRC has received USD900,000 in funding from the IFC for project development costs. The plant will be developed by a consortium of partners and construction is expected to begin in 2023.

West Africa

Chad: Ziz Energie to construct two hybrid solar mini-grids (Afrik21)
- The Development Bank of Central African States (BDEAC) has provided EUR6 million in financing for the project. 

Nigeria: Transmission company to waive penalty fee incurred by government (Construction Review)
- Sunrise Power Transmission Company of Nigeria Limited waives a USD500 million penalty fee incurred over multiple defaults of a settlement agreement on the Mambilla hydroelectric power project.

Senegal: Authorities advocate for decentralised energy solutions (Afrik21)
- The Business Council of Renewable Energies of Senegal partners with the Alliance for Rural Electrification to facilitate the electrification of rural areas in the country. 

East Africa

Djibouti: Kenya power Generation Company (KenGen) starts drilling geothermal wells (ESI-Africa)
- KenGen will drill the first of three geothermal wells over a period of three months. 

DRC: Investors join forces to build a 100MWp solar PV plant (Afrik21)
- The electricity generated will be fed into the grid to increase the level of electrification in the country and support neighbouring mining companies. 

Southern Africa

South Africa: Africa Data Centres to be provided with 10MW of renewable energy (ESI Africa)
- The captive PV project will be led by Distributed Power Technologies and aligns with Africa Data Centres’ commitment to sustainability.

Madagascar: AfDB supports transmission network (Africa Energy Portal)
- A EUR36 million loan agreement from AfDB will be used to implement the Reinforcement and Interconnection of Electricity Transmission Networks in Madagascar.

Africa - general

Egypt: The Arab Fund for Economic and Social Development expands its green portfolio (Afrik21)
- The pan-Arab development finance institution will provide USD30 million for projects in the sectors of water, waste, energy and transportation. 

Gabon: A consortium of companies to construct the 82MW Ngoulmendjim hydroelectric plant (RE Global)
- The Eranove Group and the Gabonese Fund for Strategic Investments (FGIS) seek to raise EUR300 million for construction purposes.

Libya: TotalEnergies signs MoU for 500MW of solar power plants (Renewables Now) 
- The French company has signed agreements with the Libyan authorities to develop the country’s solar resources. 

Rest of the world

Amazon: The retail giant procured a total of 5,600MW in 2021 (ReNews)
- Amazon has announced 18 new utility-scale solar and wind projects across the US, Finland, Germany, Italy, Spain and the UK.

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