PRETORIA, South Africa, February 24, 2025/APO Group/ –SolarAfrica (https://SolarAfrica.com/) is proud to take another major step forward in the development of its flagship utility-scale solar project, SunCentral, by successfully reaching financial close on the first 114 MW component of the project alongside funding partners Investec and RMB. The R1.8 billion investment into SunCentral marks the start of the project’s rollout in South Africa.

SunCentral is a large-scale solar photovoltaic (PV) plant located between Hanover and De Aar in South Africa’s Northern Cape province. The project will be developed in three phases.

Phase 1, consisting of 342 MW, will be delivered through a staged roll-out of three 114 MW facilities and will deliver renewable energy to a diverse range of off-takers by wheeling it through South Africa’s power grid. Phase 2 and 3 will increase SunCentral’s capacity to 1 GW.

Unlike similarly sized projects that offer wheeling on a one-to-one basis (with one generation plant supplying one off-taker), SolarAfrica’s project will offer wheeling on a one-to-many basis, making it available to a wider pool of businesses in South Africa.

SolarAfrica’s Chief Investment Officer Charl Alheit, who spearheaded the financial close, explains: “Reaching financial close on the first 114 MW of our utility-scale wheeling development and Main Transmission Substation (MTS) investment marks a significant milestone in our commitment to advancing sustainable energy solutions for our customers in the commercial and industrial sectors.”

He adds that the substantial size of SunCentral will unlock access to cheaper, greener power for even more businesses across the country. “We are excited to see this project move forward as we continue contributing to the energy transition while delivering long-term value to our customers.”

SolarAfrica is part of the greater Starsight Energy Africa Group. The success of SunCentral will act as a blueprint for similar (and possibly smaller) off-site generation projects in other key African markets in which the Starsight Energy Africa Group companies operate.

“The construction of SolarAfrica’s SunCentral is a critical step in our journey to expand clean energy adoption across Sub-Saharan Africa, says Paul van Zijl, Group CEO of Starsight Energy Africa Group. “We are excited to move this project forward and continue delivering long-term value to our customers,” he says.

SolarAfrica is backed by world-class investors African Infrastructure Investment Managers (AIIM) and Helios Investment Partners who both hold decades-long track records of bringing investment to support African innovation.

“Reaching Financial Close on the first 114 MW on SunCentral is a fantastic milestone for SolarAfrica, says Thor Corry, Investment Director at AIIM.

“The modular approach to construct the MTS and plug in subsequent 114 MW modules provides a superb platform for SolarAfrica to scale at pace to meet the needs of the C&I customers in South Africa who want to secure price certainty and cost efficiencies while furthering South Africa’s Just Energy Transition. With South Africa requiring up to 30 GW of new capacity by 2030 to meet its climate commitments and energy needs, projects like this are crucial,” Corry concludes.

GEORGETOWN, Guyana, February 21, 2025/APO Group/ –In a significant announcement at the Guyana Energy Conference and Supply Chain Expo being held from, February 18 – 21, Prof. Benedict Oramah, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank) (www.Afreximbank.com), declared the multilateral Bank’s intention to establish a $1 billion oil service financing facility in Guyana. This initiative aims to enhance local participation in the country’s fast growing oil industry, in alignment with the government’s local content policies. The Bank will deploy the $1 billion facility directly to qualifying corporate clients or through a factoring line via local banks, enabling them to finance invoices from local contractors.

President Oramah highlighted the transformative potential of Guyana’s estimated 12 billion barrels of crude oil reserves. Emphasising the transformative power in proactive resource management, he advised Guyana to aggressively harness and build capital from its oil resources.

He said, “Given the level of oil production in Guyana and its offshore location, I estimate that the oil service sector would amount to 5 to 8 billion US dollars annually. But where will it go? Most of it would be paid to oil service companies abroad, if Guyana does nothing to avoid that. A 50% retention in Guyana would increase Guyana’s GDP by 29% to 47%.” As such, he called for robust local content policies that would enable Guyanese entrepreneurs to become significant players in the oil value chain.

Based on Afreximbank’s rich history of supporting commodity-dependent economies, President Oramah shared insights to complement the ongoing efforts of the Guyanese government. He acknowledged the inherent risks associated with dependency on a single commodity and laid stress on the importance of diversification.

He cautioned, “The commodity market is prone to volatility and cyclicality; hence, the reliance on crude revenues as a primary source of government funding could expose the national economy to volatile commodity markets.” As such, he advised the government to secure long-term off-take contracts with oil service companies, which will enhance market access and price stability.

In the spirit of deepening Afri-Caribbean partnership, President Oramah remarked that skilled oil service companies from Ghana, Egypt, and South Africa, are “ready and willing to support Guyanese… And of course, Afreximbank is there to underwrite the marriage.”

He added that: “These measures are necessary if Guyana and other new entrants in the Caribbean and Africa are to avoid the painful “Dutch Disease. We make these suggestions based on the three long decades of financing oil and gas activities across Africa. We have witnessed oil-dependent economies transform for better or worse through these periods. In all these, the difference reflected the policy choices the leaders made.”

BRAZZAVILLE, Congo (Republic of the), February 21, 2025/APO Group/ –Service and technology providers are playing a growing role in Africa’s oil and gas industry, delivering cutting-edge solutions that improve efficiency, foster innovation and support sustainability across a range of projects in the sector. These companies are key to advancing exploration and increasing production capacity and will showcase their strategies and upcoming projects at the inaugural Congo Energy & Investment Forum (CEIF) this March.

Taking place in Brazzaville from March 24-26, CEIF 2025 is set to showcase the Republic of Congo’s energy ambitions, including the country’s strategies to increase oil production to 500,000 barrels per day by 2027 and the introduction of its Gas Master Plan. With service companies like Accenture and NOV taking part in an in-depth roundtable session at CEIF 2025, the country is well-positioned to showcase an improved enabling environment that welcomes local and international companies.

The inaugural Congo Energy & Investment Forum, set for March 24-26, 2025, in Brazzaville, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

Houston-based NOV is advancing Congo’s oil and gas capabilities through cutting-edge technologies and services that enhance operational efficiency and support sustainable energy development. The company is involved in several strategic initiatives across key African markets, including contributions to offshore exploration and production. NOV, which will be represented at CEIF 2025 by Vice President of Global Accounts Arthur Ename, is also deeply committed to local content and workforce development, focusing on translating its expertise to support the growth of industries throughout the continent while creating jobs, transferring knowledge and empowering communities.

Meanwhile, professional services and consulting company Accenture boasts wide industry experience in oil and gas, utilities, chemicals and processing, rail transportation and technology and covers clients operating in upstream, midstream, downstream and oilfield services. As such, Accenture Executive and Associate Director Nosayaba Evboumwan will part in the CEMAC Energy Dialogue in-depth roundtable session at this year’s CEIF 2025.

“The participation of NOV and Accenture at CEIF 2025 highlights the vital role service companies play in enhancing Congo’s oil and gas sector. Their expertise in technology, innovation and workforce development is crucial to driving sustainable growth and industry transformation,” states Energy Capital & Power Events and Project Director Sandra Jeque.