Category: Middle East & Africa Deal Watch

Qatar’s QFFD signs agreement with GCCIA

Qatar Fund for Development (QFFD) has signed an agreement with Saudi’s Gulf Cooperation Council Interconnection Authority (GCCIA) to construct a Gulf electricity interconnection network, and link it to the southern Iraqi network.

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Cameroon borrows USD165 billion for 400 kV Nachtigal–Bafoussam line

Cameroon will borrow USD164.69 million to construct a power line between Nachtigal and Bafoussam to evacuate electricity from the future 420 MW Nachtigal hydroelectric plant, in the Center region of Cameroon, to the West. A loan agreement was signed with Export-Import Bank of India (Exim Bank) for USD164.69 million (or about XAF97.8 billion), for the financing of the 400 kV transmission line, as well as related works.

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KFAED signs loan agreement with GCCIA for extending grid connection

The Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement worth USD115.5 million with the Gulf Cooperation Council Interconnection Authority (GCCIA) for financing of the development of the GCC electricity interconnection system and further connecting it with the Iraq’s grid.

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Senegal’s Senelec to receive loan from ITFC

International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), has approved a loan of EUR100 million to Senegal’s national electricity company Société Nationale d’électricité du Sénégal (Senelec) to give a boost to the energy sector.

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Zanzibar gets approval for USD142 million ZESTA Project

The World Bank has approved USD142 million of funding for the implementation of the Zanzibar Energy Sector Access and Transformation (ZESTA) Project, which aims to modernise Zanzibar’s electricity network and integrate the upcoming renewable energy (RE) installations into the grid.

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Financial support extended by EIB, EU for 225 kV Guinea–Mali link

The European Investment Bank (EIB) and the European Union (EU) will provide financial assistance worth EUR330 million for the development of the 225/30 kV Projetd’ Interconnexion Électrique Guinée Mali (PIEGM) or the Guinea–Mali Electric Interconnection Project, which will evacuate power from both countries’ hydropower plants (HPPs) and provide millions of people in West Africa with access to clean and affordable energy.

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