Connect with us
Anglostratits

Business

Geometric Power Commissions the Afreximbank-Backed 141 MW Aba Integrated Power Project

Published

on

Afreximbank

The Aba IPP is equipped with renowned world class infrastructure including three GE LM6000 Gas turbines, with a capacity to produce up to 47MW each

Egalement disponible en Français, تتوفر أيضا في العربية

CAIRO, Egypt, February 28, 2024/APO Group/ — 

The 141 MW Aba Integrated Power Project (Aba IPP), an Afreximbank-financed project (www.Afreximbank.com), was officially commissioned in Abia State by the Vice President of the Federal Republic of Nigeria, H.E Kashim Shettima. A first of its kind in Nigeria, the Aba IPP is a pioneering initiative capable of generating and distributing 141 MW of its produced power across nine local government areas (LGAs) within the Aba ring-fenced zone.

Adequate distribution of energy is a cornerstone for national development, playing a critical role in facilitating industrialization and trade. Recognising the challenges in the sector such as inadequate liquidity, high level of debt, and a lack of profitability, Afreximbank continues to support energy projects on the continent and has committed in excess of US$ 4.6 billion to Africa’s power sector since inception. With approximately USD 900 million of funding in Nigeria, the Bank is one of the leading financiers in the Nigerian power sector. In 2021, Afreximbank signed a US$50 million term loan facility with Geometric Power Limited to support the completion of the generation and distribution infrastructure, commissioning of the gas supply pipeline and commencement of operations of the project.

Speaking at the official launch ceremony, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank said: “Afreximbank is proud to be part of this great milestone achievement in Nigeria. The 141MW Aba IPP underscores what can be achieved when public and private sector stakeholders join forces to impact humanity. As champions of trade and industrialization initiatives in Africa, we believe that it is projects like this embedded IPP that will catalyze trade and economic development in Nigeria and across the region.”  

The 141MW Aba IPP underscores what can be achieved when public and private sector stakeholders join forces to impact humanity

The Aba IPP is unique as it is the only electricity company in Nigeria that is fully vertically integrated with embedded generation and distribution capabilities. This model ensures the Aba IPP can supply power directly to its immediate community, prioritizing local needs and distributing surplus power to Nigeria’s national power grid. This ground-breaking approach ensures constant power supply in the ring-fenced area and  addressing the challenges associated with the national power grid. Furthermore, the integrated structure fosters value creation through improved cost management at various stages in the energy value chain: generation, distribution, and collection.

The Aba IPP is equipped with renowned world class infrastructure including three GE LM6000 Gas turbines, with a capacity to produce up to 47MW each. The power plant is also equipped with a 27km gas pipeline to ensure consistent fuel supply, three rehabilitated  distribution  substations, five new additional substations and 140km of 33kV/11kV lines using fibre optic cables for seamless data communication.

Strategically positioned in the industrial South-Eastern Nigeria, the Aba metropolis is one of the most commercial areas in West Africa, renowned for its cottage and small-scale industries specialising in the craftsmanship of leather goods, fabrics and related services. In addition to increased power supply and reliability, the Aba IPP is expected to enhance industrialization efforts and increase production of small and medium-scale enterprises, as well as local industries.

According to Geometric power, over 370,000 direct and indirect jobs would be created during the operational phase of the project. In addition, there are significant indirect benefits for the supporting industries including the development of road infrastructure, improvement in local services including enhanced water supply, schools and healthcare facilities, a boost in agricultural productivity due to a more reliable power supply, as well as increased support for rural electrification programs and enhanced tourism and leisure opportunities.

Distributed by APO Group on behalf of Afreximbank.

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

Published

on

Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

Continue Reading

Business

South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

Published

on

Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

Continue Reading

Business

Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

Published

on

Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

Continue Reading

Trending