Page 14 - AfrElec Week 03 2021

AfrElec NEWS IN BRIEF AfrElec

said Damien Braud, Head of Private Equity who are keen to shed coal, burnt to produce of the third component of the IAEREP
Africa & Middle East division, Proparco. electricity, as global investors ditch holdings in (Increased Access to Electricity and
polluting fossil fuels. Renewable Energy Production) programme.
ale, the world’s second-biggest iron ore 23mn (about 595mn Zambian kwachas)
miner, on Thursday agreed to buy out its is allocated as a grant from the European
INVESTMENT minority partner in the loss-making Moatize Union (EU). According to this development
coal mine and Nacala Corridor rail and port partner, the money will be used to finance
TRANSCO CLSG convenes projects in Mozambique ahead of a planned six projects under the IAEREP programme,
sale.
improving the electricity supply to 200,000
crucial meeting with sources said, declining to be identified as the is to achieve 91% urban electrification and
It is unclear what the assets might fetch, the Zambians. “The Zambian government’s target
contractors in Monrovia discussions are confidential. 51% rural electrification by 2031. Currently,
9mn Zambians live without electricity,” says
Vale, Barclays and Standard Chartered
A senior level team headed by the General declined to comment. Matthew Nkhuwa, Zambia’s energy minister.
Manager of TRANSCO CLSG comes In 2019, Vale slashed its valuation of the The East African country, which relies heavily
to Monrovia, Liberia to spearhead a assets due to technical and operational issues. on hydropower, has recently faced increased
pivotal meeting with all EPC contractors The miner’s coal division posted a loss of electricity shortages, partly caused by drought.
implementing the electricity project in Cote $213mn in adjusted earnings before interest, The IAEREP programme will be
d’Ivoire, Liberia, Sierra Leone and Guinea. tax, depreciation and amortisation in its most implemented in three years. In the first phase,
The bi-annual meeting is within the recent quarterly result. the Zambian government provided support
framework of the implementation of the The operations are expected to reach 15mn to public institutions to develop and/or revise
CLSG project as TRANSCO CLSG prepares tonnes a year in the second half and 18mn the legal and regulatory framework for the
to commission and energise the first section tonnes a year in 2022, according to Vale. deployment of renewable energy and energy
of the CLSG network in February 2021 from efficiency. The second phase of the initiative,
Man in Cote d’Ivoire to Mount Coffee in launched in August 2019, provided capacity
Liberia. building for public and private organisations
Mr. Mohammed M. Sherif and his team of RENEWABLES involved in renewable energy deployment and
engineers and administrators will take stock energy efficiency solutions in Zambia.
of the progress of the CLSG interconnection EU to subsidise Zambian “The European Union grant is the final
project and will take actions to address all component of the programme. It will help
pending issues or challenges related to the renewable energy to the stimulate the emergence of sustainable
timely completion and commissioning of the business models for energy services to
CLSG network. tune of $23mn promote the use of renewable energy and
The three-day high-level meeting which energy efficiency at the national level and
starts on Tuesday, January 26th will conclude The European Union (EU) has recently encourage the private sector to participate in
Thursday, January 28th, will highlight project allocated $23mn to the government of Zambia the rural electrification programme,” says the
related issues including the status and the to implement a programme of electricity European Development Fund (EDF) country
roadmap of remaining works and tests before generation from renewable sources, called office in Zambia. Ultimately, the IAEREP
commissioning, updated project schedule Increased Access to Electricity and Renewable programme will improve the electricity supply
including energisation schedule, coordination Energy Production (IAEREP). of 4mn Zambians.
of all interfaces between contractors, roadmap In Zambia, the government has recently
for the finalisation of the O&M (Operation received funding for the implementation
and Maintenance) manuals, coordination of
outage with National Utilities and the delivery
of completion of Certificates contractors.

COAL

Brazil’s Vale hires banks
to sell coal assets in

Mozambique

Vale SA has hired investment banks Barclays
Plc and Standard Chartered to sell its
Mozambique metallurgical and thermal coal
mine and port project, Reuters reported, as
the Brazilian miner works to become carbon
neutral by 2050.
Vale joins top miner BHP and others

P14 www. NEWSBASE .com Week 03 21•January•2021