Deals this week: African Development Bank, 8minutenergy Renewables, Marguerite

5 October 2018 (Last Updated October 5th, 2018 16:50)

The African Development Bank (AfDB) has granted a $266m loan to Rwanda for supporting the nation’s Scaling Up Electricity Access Program (SEAP II).

The African Development Bank (AfDB) has granted a $266m loan to Rwanda for supporting the nation’s Scaling Up Electricity Access Program (SEAP II).

The loan is a part of AfDB’s ten-year strategy (2013-2022) and current Country Strategy Paper for Rwanda. It will be split into a $192m loan and a $74m credit.

SEAP II is an electricity expansion project aimed at improving the reliability of electricity supply and expanding access to electricity. The project is expected to transform the country into an export-oriented economy. The Government of Rwanda plans to add more than 193,000 new on-grid and 124,000 off-grid connections, as part of SEAP II.

The funding will be used for the construction of 795km of medium-voltage and 7,317km of low-voltage lines.

“The investment is a part of Marguerite’s strategy to focus on low-subsidy projects with highly competitive levelised cost of electricity (LCOE).”

8minutenergy Renewables has reached a definitive agreement with Capital Dynamics to divest the equity interests in the 121MW-dc Springbok 3 solar farm for an undisclosed sum.

8minutenergy is developing the Springbok 3 project in continuation to its 137MW-dc Springbok 1 and 191MW-dc Springbok 2 projects. Construction on the project is expected to commence by the end of 2018.

Based in the US, 8minutenergy Renewables is engaged in solar power development, while Capital Dynamics is a Switzerland-based private asset management firm.

Marguerite has signed an agreement with OX2 to acquire the 42MW Brännliden wind farm proposed to be developed in Skellefteå municipality, Sweden.

The investment is a part of Marguerite’s strategy to focus on low-subsidy projects with highly competitive levelised cost of electricity (LCOE).

Marguerite is a European infrastructure fund, while OX2 is a Swedish company engaged in developing, financing and managing renewable energy projects in the Nordic region.

Siemens Gamesa Renewable Energy (SGRE) has awarded a contract to Swancor for the supply of resin for the blades used for Phase 2 of its Formosa 1 offshore wind farm in Taiwan.

SGRE also awarded a contract to the partnership between CS Wind and Chin Fong for the supply of localised towers for wpd’s Yunlin offshore wind power project.

SGRE is a Spanish wind turbine manufacturer, while Swancor is a Taiwanese developer  of speciality chemicals.

CS Wind is engaged in the supply of onshore and offshore wind turbines, while Ching Fong Machine manufactures mechanical power presses and provides metal forming technologies. The two companies are based in Taiwan.