In a project that the World Bank hopes will be a catalyst for implementing its climate change strategy in low and middle-income countries, Eskom, South Africa’s 100% state-owned electricity utility, will launch a tender for a 1.4 gigawatt-hours battery energy storage system (“BESS”). The tender will likely be issued in the first or second quarter of 2020, pending final governmental approval. The completed BESS will have a daily capacity of 1.4 gigawatt-hours of energy output (which is sufficient energy to power 1.4 million homes for an hour). The project is the first of its kind on the African continent.
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Africa
The US-Africa Business Forum: Investing in solar energy
Today, our colleague Whitney Schneidman posted on CovAfrica an interesting article that explores the theme of solar energy as an increasingly attractive opportunity for investment in Africa. The article can be read here.
What the Home Battery Could Mean for Africa
The African continent is revolutionizing itself as the place where no infrastructure is no problem. This began in the telecommunications field: Africa lacks a robust system of landlines, which traditionally enable better access to desktop computers, online services, and financial institutions. But the emergence of cellular telephony has allowed individuals across Africa to bypass…
Anatomy of a Nigerian Oil Scandal: Audit of National Oil Company Fuels Momentum for Sectoral Reform
After months of speculation and mounting pressure, it’s finally here: the government of Nigeria has released the long-awaited PricewaterhouseCoopers (PwC) forensic audit of the Nigerian National Petroleum Corporation (NNPC), the country’s national oil company. It’s not often that the release of a highly technical accounting report makes the headlines—much less grabs the attention of…
A Spotlight on Solar Power in Africa
The new year may only be a few months old, but 2015 has already ushered in a number of exciting developments in the solar power space in Sub-Saharan Africa.
Solar projects coming online across the continent and more in the pipeline. Riding the momentum of 2014 in which it brought online the largest photovoltaic (PV)…
Nigerian Court of Appeal Allows Third Party to Challenge Arbitration Award
In the recently published Abuja Court of Appeal case of Statoil (Nigeria) Limited & Anor v. Federal Inland Revenue Service & Anor ((2014) LPELR-23144(CA)) (“Statoil”) dated 13 June 2014, the Nigerian court held that a third party had locus standi to challenge an arbitration agreement to which it was not a party.
This…
Geothermal Power in East Africa
Last week, London-based firm EnergyNet held its “Powering Africa Summit” in Washington. The Summit, opened by U.S. Secretary of Energy Moniz, attracted project developers, equipment suppliers, financiers, the U.S. Government’s Power Africa team, and African government officials. Unfortunately, due to the African Union Summit that was being held at the same time in Ethiopia, no…
Planning Ahead to Arbitration – Important Considerations for Investors
As foreign investment into Sub-Saharan Africa continues to grow, inevitably, so does the risk of disputes arising between commercial parties. The potential benefits of arbitration in settling a commercial dispute, including procedural flexibility and neutrality, are well known (read more from the ICC here). This post provides an introduction to the relevance of…
Solar Investment Booms in Sub-Saharan Africa
According to the U.S. Agency for International Development, two out of three sub-Saharan Africans, approximately 600 million people, do not have access to electricity, instead relying on costly, environmentally unfriendly, and unhealthy forms of energy such as diesel generators and kerosene lamps and stoves. With many sub-Saharan African countries receiving a high number of…
With Billions in New Pledges, Power Africa Gains More Power
A little over a year after President Obama first announced Power Africa, the Administration has released thePower Africa Annual Report. According to the Annual Report, the initiative has “helped facilitate the financial close of transactions which expect to produce nearly 2,800 MW of new generation capacity — more than 25% of the…