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Daily Analysis for Monday May 20

Posted on 21 May 2013 by Africa Business

This week begins with great anticipation for profitable trading opportunities. Banks in Europe and Canada will be closed on Monday, but traders could take advantage of the release of the Australian Monetary Policy Meeting Minutes. Later in the week, we are expecting inflation and retail sales data out the United Kingdom. These announcements will surely pave a clear direction for the British Pound. Meanwhile, home sales in the world’s largest economy will be put forth on Thursday. Whether the U.S. dollar is affected, that remains to be seen.

USD/CAD


Friday’s inflation report was softer than consensus expectations. Headline CPI is increasing at its slowest since October 2009 when the economy was still experiencing the consequences of the recession. In this environment, inflation is clearly not the main radar the Bank of Canada is looking at for now, but growth is. Given our expectations of subpar growth for 2013, rate hikes in Canada are unlikely anytime soon. Look for the Loonie to continue weakening in the coming days.

Stop loss 1.0250

Take profit 1.0315

Gold


The yellow metal started the new week on the wrong foot, tumbling during Monday’s morning session as traders increased their bearish bets on this commodity. It has been falling since October 2012, with the sharpest market movement taking place just last month. We have recently reached the lowest point last seen on April 14th. Traders are advised to hold onto their short positions until further notice. We expect to reach $1,300 within days, possibly by Thursday of this week.

Stop loss $1,370

Take profit $1,300

USD/ILS


The Bank of Israel surprised with a 25 basis point rate cut to 1.5% last week, an intra-meeting move. The next scheduled meeting is set for May 27th. We’ve been looking for more cuts, especially as the Shekel has strengthened in recent weeks. As it cut rates, the central bank noted that the shekel has been boosted by natural gas sales and global monetary easing. Furthermore, the Bank of Israel announced a plan to increase its holdings of foreign exchange in an effort to offset the money from gas sales. For now, the high probability of sequential rate cuts suggests this pair is likely to continue heading north. We’re currently aiming at 3.6370.

Stop Loss 3.6316

Take profit 3.6370

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PLATINUM SPONSOR INTERVIEW: “Symbion and many other companies from the United States are ready to invest in Africa.”

Posted on 07 May 2013 by Africa Business

Exclusive interview with Paul Hinks, CEO of Symbion Power, platinum sponsors at the upcoming African Utility Week (http://www.african-utility-week.com).

1) Why the recent decision to acquire the stake in the South African company EJP Power?
We wanted a foothold in South Africa and we wanted to strengthen the management of our organization on the Africa continent.  EJ Power has good, experienced management who live in Africa.  We can’t manage day to day business with a whole day of time difference and between 9,000 and 13,000 kms of distance, depending which of our current operations you measure it against.

2) Is this a vote of confidence in South Africa’s economy and future?
It’s a vote of confidence in Africa.  South Africa’s economy is mature compared to many of the emerging economies in Africa but it’s a hub for African business so a good location to have people.  But we don’t consider South Africa as the only hub in Africa these days.  There are others in West Africa and East Africa where the economies are thriving.

3) You already have a good track record in Tanzania.  Can you tell us how your project is progressing there?  How important has your relationship with the government been?
Tanzania is the first country in Africa that we have worked in. Until then we were heavily focused on Iraq and Afghanistan so it has been a pleasure to return to Africa.  We now own 3 power plants in Tanzania generating 217 Megawatts and we have recently signed an agreement with the utility there, TANESCO, to jointly develop a 400MW power plant and a 650km transmission line in the south at Mtwara.  This plant will have the potential to provide natural gas fired power to neighboring countries such as Mozambique and Malawi and eventually it can feed the Southern African Power Pool. It’s an important Public Private Partnership due to the large gas deposits that have been discovered, in addition to the existing gas field at Mnazi Bay.

4) How excited are you about entering the Nigerian market?
Very excited. Nigeria is the most vibrant market in the energy sector in Africa and it’s so very, very different than the Nigeria we used to hear about decades ago.  I tell everyone who is skeptical to just go there and see what’s happening and not rely on old information, or the words of people who haven’t been in recent years.   We will soon open a new office in Lagos that will become the headquarters of our African independent power business.  South Africa will be the headquarters for our construction and engineering business but we intend to pursue IPP opportunities in South Africa too.

5) What is your vision for Symbion in Africa?
I’d like to see Symbion become one of the leading independent power companies on the continent who can also build our own infrastructure at economic costs.  I’d also like us to leverage our origin in the United States to bring other US interests into our developments such as the various government agencies that provide debt funding and credit support as well as other US and African private sector companies.  The name Symbion comes from the word Symbiotic, which means a relationship of mutual benefit between two or more entities.  That’s what we strive to achieve. We have many different partnerships in Africa and elsewhere.

6)  What surprises you about this industry?
What most surprises me is that electricity, a commodity that people all over the world see as being essential for daily life and critical to growth, is so insufficient in Africa.  However, right now I see great efforts being made throughout the continent to change this although some places are still woefully behind the curve.

7)  What has been the secret of Symbion’s success so far?
Symbiotic partnerships with local companies.  Not being greedy and trusting and sharing with our local partners.  Symbion’s men and women are committed and they are courageous.  They aren’t intimidated by adverse news reports about security issues and we make our own judgments about the risks we will take.  Eight years of Iraq and Afghanistan built a very strong team who look out for each other.

8 )  What will be your message at African Utility Week?
My message to everyone at African Utility Week is that Symbion and many other companies from the United States are ready to invest in Africa.  These firms are ethical, they have integrity and they need partners in both the public and private sectors.  The US government wants to support both the US and the African private sector as this is the route to development on the continent.  President Obama’s strategy for Sub Saharan Africa was set out in June 2012 and I am sure that everyone will soon see that he is committed to it.

9)  Anything to add?
Yes,  as well as my duties as the Chief Executive Officer of Symbion Power I am also the Chairman of the Corporate Council on Africa which is the largest (not for profit) organization in the United States that promotes trade and investment between the United States and Africa.  Until this year it was exclusively American but now we have opened the doors to companies from Africa too.  I’d encourage private sector players who have interests in partnering with US companies to join the CCA www.africacncl.org because this is where you can get the introductions and the information you need to build new relationships with some of the major players in the US.  I’d also encourage public utilities to attend our CCA US Africa Summit in Chicago in October this year.  Details on membership and the Summit can be found on the website.

 

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AGGREKO, SHANDUKA RECOGNISED FOR DELIVERING AFRICA’S BEST FAST TRACK POWER PROJECT

Posted on 27 April 2013 by Amat JENG

The Aggreko Shanduka cross-border power project, located at Ressano Garcia in Mozambique has been awarded Africa’s Best Fast Track Power Project in 2012 at the Africa Energy Awards. The award ceremony took place during the gala dinner of the Power and Electricity World Africa conference and exhibition being held from the 8th to 11th of April in Johannesburg.

Commissioned in July 2012, the Ressano Garcia project is recognised as the world’s first interim cross-border IPP (Independent Power Provider) project. Utilising natural gas from Mozambique’s Temane gas fields, the output of the plant is being injected directly into the national grid of Mozambique on site via a purpose built substation. The project saw the generation and supply of 110 MW of power to Electricidade de Mocambique (EDM), the national utility of Mozambique and cross-border to Eskom, the South African national utility.

Aggreko Generator Rentals are a global business in 133 locations in 100 countries, we have recently entered the footsie 100 and in Australia have been associated with the Webb group for 13 years.

While being a highly innovative project in terms of delivering much needed power to both countries, the judges where impressed by the truly fast-track nature of the project. Commissioning the project, from first breaking ground to being fully operational, took less than four months. This included a substantial civil infrastructure programme involving the building of access roads, a 1.2 km high pressure gas pipeline, gas processing and de-pressurising infrastructure, a major substation and 1.5 kilometres of 275 kV transmission line.

The project is connected to the Southern African Power Pool (SAPP) which links the power grids of nine Southern African countries. Taking advantage of this exceptional transmission infrastructure and the flexible nature of Aggreko’s power installations, on March 14th 2013 Aggreko (http://www.aggreko.com) announced that it would extend the Ressano Garcia facility to add an additional 122 MW. Coming on-line within the second quarter of 2013, this additional power will be shared between EDM and NamPower, the Namibian national utility and bring the total generating capacity of Ressano Garcia to 232 MW.

“To realise a project of this scale and complexity, the global resources of Aggreko were mobilised to project manage and engineer the installation of Ressano Garcia. This capability coupled with the expertise of our partnering contractors and customers, working together as one team resulted in the successful delivery of this remarkable project,” commented Ron Sams, Global Operations and Technology Director, Aggreko.

“We are thrilled to receive this award in conjunction with our partner Aggreko,” commented Phuti Mahanyele, CEO, Shanduka Group. “Access to sufficient and stable power supplies creates tremendous value for the development of the region. This project has also brought significant benefits to the local population, providing increased employment opportunities, stimulating wider economic activity and, through Shanduka’s Adopt-a-School Foundation, assisting in the development of a local primary school, Escola Primaria Completa De Ressano Garcia.”

Commenting on the award James Shepherd, Managing Director, Aggreko Southern and East Africa, “I’m delighted that what is indeed a unique and ground-breaking project has been recognised as such by our industry peers. Building a power plant of such size and complexity, on a completely greenfield site, in less than four months is truly remarkable. This award recognises the vision and hard work of the project team from Aggreko and Shanduka, our customers EDM and Eskom and all the partners that made this project such a resounding success.”

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Altaaqa Global And Caterpillar Inc Signs IPP Agreement

Posted on 25 April 2013 by Africa Business

About Caterpillar

For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2011 sales and revenues of $60.1 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services.

CAT, CATERPILLAR, their respective logos, “Caterpillar Yellow”, the “Power Edge” trade dress, as well as corporate and product identity used herein, are trademarks of Caterpillar and may not be used without permission.

About Zahid Group

Zahid Group represents a diverse range of companies, offering comprehensive, customer-centric solutions in a number of thriving industries. Some of those include construction; mining; oil & gas; agriculture; power, electricity & water generation; material handling; building materials; transportation & logistics; real estate development; travel & tourism; waste management & recycling; and hospitality.

http://www.zahid.com

About Altaaqa Global

Altaaqa Global, a subsidiary of Zahid Group, has been selected by Caterpillar Inc. to deliver multi-megawatt turnkey temporary power solutions worldwide. Altaaqa Global is able to provide large-scale turnkey temporary power solutions anytime, anywhere at extremely short notice. Altaaqa Global has state-of-the-art temporary power equipment and focused expertise to quickly deliver power projects of 20MW to 100MW and more.

http://www.altaaqaglobal.com

 

Dubai, UAE Caterpillar Inc. has entered into an international power projects (IPP) agreement with Zahid Group, which recently formed a new subsidiary company, Altaaqa Global. As an IPP partner, Altaaqa Global will provide multi-megawatt temporary power solutions around the world, supported by partnerships within the worldwide Cat® dealer network.

L-R Front Row Fahad Y. Zahid & Bill Rohner; L-R Back Row Josh Eggert, Peter den Boogert, Stuart Levenick, Rick Rathe, Steven Meyrick

 

“We have been successfully serving our customers within the Kingdom of Saudi Arabia since our inception,” said Fahad Y. Zahid, Executive Vice President of Zahid Group. “In 2004, catering to local needs, we launched Altaaqa Alternative Solutions , which later became the world’s largest fleet owner of Cat Rental Power with over 750MW in its inventory. Through this IPP agreement, our new subsidiary, Altaaqa Global, will enable us to strengthen our position as a leading provider of turnkey temporary power solutions, now at a global level.”

“Zahid Group has demonstrated a proven track record of excellent customer service for more than 60 years,” said Bill Rohner, Vice President of Electric Power at Caterpillar. “Having them as a strategic partner will help expand Caterpillar’s evolving role in the IPP market.”

“Caterpillar’s global presence and Altaaqa Global’s temporary power expertise is a powerful synergy,” said Steven Meyrick, Managing Director of Altaaqa Global. “Bringing power to solutions is what we are offering. Bringing power where it is needed, when it is needed.”

“Our temporary power plants are mobile, easy to deploy and quick to install,” said Peter den Boogert, General Manager, Business Development of Altaaqa Global. “We can intelligently generate electricity within weeks in Africa, the Middle East, Latin America, Asia and the Pacific.”

Based in Dubai, United Arab Emirates, Altaaqa Global will provide fast-track and large-scale temporary power solutions from 20MW to 100MW and more, offering gas, diesel or dual fuel technology to various sectors such as oil & gas, power utilities, mining, government services, military, manufacturing and construction. The company aims to serve its customers with engineered solutions tailored to the specific requirements of each industry. Highly experienced Cat power generation consultants along with a specialized power generation team from Altaaqa Global are fully aligned right from the planning phase, ensuring that the technical and logistical aspects of projects are addressed both effectively and efficiently.

For more information, visit www.altaaqaglobal.com/pr.

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Carlson Rezidor announces the Radisson Blu Hotel, Port Harcourt, Nigeria

Posted on 22 April 2013 by Africa Business

The Carlson Rezidor Hotel Group – born in early 2012 – is one of the world’s largest and most dynamic hotel groups. The portfolio of the Carlson Rezidor Hotel Group includes more than 1,300 hotels, a global footprint spanning 80 countries, a powerful set of global brands (Radisson Blu, Radisson®, Country Inns & Suites by CarlsonSM, Park Inn by Radisson, Hotel Missoni and Park Plaza®). In most of the group’s hotels, guests can benefit from the loyalty program Club Carlson, one of the most rewarding loyalty programs in the world. The Carlson Rezidor Hotel Group and its brands employ more than 80,000 people. The Carlson Rezidor Hotel Group is headquartered in Minneapolis, USA, and Brussels, Belgium. http://www.carlsonrezidor.com; http://www.rezidor.com

 

The Carlson Rezidor Hotel Group, one of the fastest growing hotel companies worldwide, announces their 49th hotel deal in Africa: The Radisson Blu Hotel, Port Harcourt Olympia in Nigeria is scheduled to open in 2016 and will add a further 206 rooms to Rezidor’s portfolio of 11,000 rooms on the continent.

“This announcement brings the total number to eight hotels which the Carlson Rezidor Hotel Group operates and has under development in Nigeria. The success of the Radisson Blu Lagos illustrates the increasingly high demand for world class hospitality in Africa’s second largest economy,” comments Andrew McLachlan, Vice President Business Development Africa & Indian Ocean Islands.

The new Radisson Blu Hotel, Port Harcourt Olympia complements the existing Radisson Blu Anchorage Hotel in Lagos; the up and coming Radisson Blu Hotel in Abuja, and the Park Inn properties by Radisson in Lagos, Apapa, Ikeja, Abeoukuta and Abuja. Nigeria is a key development market for Rezidor – the group will be the first international operator to provide world-class hotel standards in the three major financial hubs of Lagos, Abuja and Port Harcourt”, McLachlan adds.

Opposite the Port Harcourt Club 1928 Golf course and offering spectacular views over the fairways and greens, the Radisson Blu hotel site is located in the southern part of the city in the less congested old Government Reserve Area. Besides 206 guest rooms all featuring Radisson Blu signature services such as free high speed internet access, the hotel will also offer an all-day dining restaurant, a specialty restaurant & bar, and the largest conference facilities within the Niger Delta, with 2,100 square metres of conference and meeting space. Additionally there will be a gym, spa, outdoor swimming pool, business centre and rooftop bar & terrace.


Port Harcourt is the economic hub of the Niger Delta and the capital of Rivers State, one of Nigeria’s richest states due its large crude oil and natural gas deposits. It is home to major oil companies, banking institutions and government agencies. Hotel room supply in the city has not grown for several years, and the Radisson Blu business and conference hotel will benefit from being the most modern internationally branded property in the city.

With no significant increase in hotel room supply in Port Harcourt since 2006, we feel the time is ripe to establish a Radisson Blu in Port Harcourt for the business traveler,” remarks McLachlan, “Carlson Rezidor has the largest pipeline of rooms under development in sub-Saharan Africa. This signing further strengthens our leading position and underlines the importance Nigeria has for our group”.

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Sonelgaz and Condor Electronics featuring Algeria’s leading energy exhibition

Posted on 13 April 2013 by Africa Business

 

7th electro, automation & energy from 18 to 21 May 2013 in Algiers

The 7th edition of Algeria’s leading energy exhibition takes place from May 18 – 21, 2013 at the Palais des Expositions d’Alger – Safex. Amongst numerous market leaders from nine countries, the Sonelgaz Group is one of the major exhibitors and Condor Electronics is the Platinum Sponsor. The event is accompanied by conferences on renewables and on energy efficiency. electro, automation & energy 2013 is organized by the trade fair specialists from fairtrade Messe and its algero-german team. The entrance to the exhibition and the conference is free-of-charge and restricted to professionals only.


Sonelgaz, the state-owned utility in charge of electricity and natural gas distribution in Algeria confirmed their participation as exhibitor at electro, automation & energy 2013. The participation of Sonelgaz includes also the participation of six of its subsidiary companies, namely: AMC – Society for measuring and control systems, CEEG –Engineering company for electricity and gas, CREDEG – Centre for research and development in electricity and gas, MEI – Society for industrial equipment maintenance, ROUIBA Eclairage and SPE – The Algerian society for production of electricity.

Condor Electronics, one of Algeria’s leaders in consumer electronics, now also enters the field of renewable energies and energy efficiency. Being exhibitor and Platinum Sponsor of electro, automation & energy Condor Electronics values this event as the ideal business to business platform to display their innovations and solutions.

Additionally to the strong Algerian participation, numerous international market leaders from China, Egypt, France, Germany, Italy, Serbia, South Korea and Tunisia already signed in.

The exhibition will be accompanied by a two-day conference with the topic: “Renewables & Energy Efficiency in the context of sustainable development in Algeria”. As in 2012, top-level speakers of the Algerian Ministries of Energy and Mines, of Industry and Commerce and of Environment as well as executives of Sonelgaz, GTP filiale SH, APRUE, CDER and many others will participate.

The organisers recommend to the trade visitors to pre-register for the exhibition at the event’s website in advance. According to Dominik Rzepka, Head of Marketing and PR with fairtrade, pre-registration takes less than three minutes and provides visitors with a free, fast track entry to the exhibition, a personal visitor badge and a complimentary copy of the official show catalogue.

www.electro-automation.info

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3rd Annual LNG Terminals & Distribution 1-4 July 2013

Posted on 11 April 2013 by Africa Business

Event Title: 3rd Annual LNG Terminals & Distribution

Date: 1-4 July 2013

Location: Grand Copthorne Waterfront Hotel, Singapore

Website: http://www.lngregasificationterminals.com/

IBC Asia’s LNG Terminals & Distribution conference focuses on the latest LNG regasification terminal projectsinnovative LNG distribution solutions,new LNG technology and fundamentalLNG operational and maintenance strategies for the long term sustainability of Asia’s LNG market.

It is the leading event that offers a key industry platform for LNG terminal developers, operators, off-takers, contractors and technology experts to share know-how, explore innovation and develop synergies for sound business partnerships.

Follow link to download LNG Terminals & Distribution brochure http://www.ibcasia.com/conferences/energy/flng/download-brochure

 

What’s New for 2013?

  • Larger, revamped program with more speakers & sessions to choose from
  • 40+ expert speakers
  • 3 specialist focused tracks, so you can customize your own program:
  • LNG Terminal Planning & Investment
  • LNG Terminal Operations & Maintenance
  • LNG Distribution
  • Showcase of technology & innovation in the LNG terminal & distribution sector
  • 10+ Official Networking opportunities including networking cocktails & speed networking enabling you to develop business relationships

Key Topics to be Covered This Year Include:

  • LNG Supplies for Asia’s LNG Terminals & Distribution
  • Regulatory Framework & Incentives to Promote Investments in LNG Infrastructure
  • New LNG Regasification Terminals in Asia
  • LNG Terminal Planning & Investment
  • LNG Terminal Operations & Maintenance
  • Promoting & Expanding Domestic use of Natural Gas
  • Developing Integrative Pipeline & Non-Pipeline Natural Gas Distribution Networks
  • Small Scale LNG
  • LNG Distribution Business Models
  • Marine CNG Transportation & Distribution as an Alternative to Pipelines
  • Virtual Pipelines

For more information, please visit www.lngregasificationterminals.com or call our customer service hotline +65 6508 2401 to enquire today.

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Iberian Lawyer brings together a selected group of finance and legal experts at the 3rd Edition of Agenda Africa Forum in London ─ ‘Investment Frontiers: Angola and Mozambique’ ─ to examine trends in the region

Posted on 11 April 2013 by Africa Business

LONDON, United-Kingdom /African Press Organization (APO)/ The appetite for investments in projects, energy and infrastructure in Africa has not decreased despite the economic downturn. Iberian Lawyer brings over 80 experts from the banking, finance and legal sector at Chatham House, London, to discuss the current opportunities and challenges of investing in Angola and Mozambique.

The Forum is supported by leading law firms F. Castelo Branco, Cuatrecasas Gonçalves Pereira, Miranda, VdA and AVM, and focuses on the current developments and reforms in these countries.

According to KermaPartners’ latest research, the economic strength and growth in Africa makes the region a strategic target for many global law firms looking to expand their services.

Portugal and China may be the major foreign investors in Angola, but its expanding oil and gas sector continues to attract new interest. Meanwhile, efforts by the Government to diversify the economy are attracting a wider pool of international investment, according to the latest Iberian Lawyer Lusophone Africa Special Report.

Angola has been registering record growth. Ten years after the civil war, Angola’s economy is expanding at an annual rate of around eight percent. The Government is using its petrodollars to rebuild the country’s shattered infrastructure, expand the economy and modernise and better connect its cities. According to Mergermarket data, the first quarter of 2013 saw four deals worth US$4.5bn, compared to 11 transactions valued at US$8.63bn for the whole of 2012 and 12 deals for US$6.23bn in 2011.

“Relative to Angola, Mozambique may be further down the development track, but recent discoveries of huge offshore natural gas reserves hold the potential to change the economic direction of the country, says Giovanni Amodeo, global editor in chief at Mergermarket.

“Mozambique recently introduced a new PPP Law that affects strongly in future investments.”

Based on Mergermarket M&A data, Mozambique has seen the largest transaction so far this year with the acquisition of a 28.57 percent stake in ENI East Africa by China National Petroleum Company for US$4.2bn. However, uncertainty has resulted from the implementation of capital gains tax, Rio Tinto’s large writedowns on the Benga mine acquisition and the major infrastructural spending required to ensure ‘route to market’ for players using the Sena line, and ports of Beira and Nacala.

Despite this, the experts predicts that as the nation’s gas boom and sheer geological potential are realised, growth in Mozambique’s domestic steel industry will continue to attract mine builders, producers, offtakers and others to partake in potentially large M&A transactions and joint ventures.

“Africa opens a wide range of business opportunities to international players in a whole host of sectors, but always under complex and over-regulated markets,” says Mari Cruz Taboada, Managing Director of Iberian Legal Group (Iberian Lawyer). “Being accompanied by experienced lawyers is essential when strategically developing projects and investing in markets such as Angola or Mozambique.”

Players from the Middle East, Canada and Western Europe are also trying to take advantage of opportunities in the region, following in the steps of the US, China, South Africa and Brazil.


About Mergermarket

Mergermarket, part of The Mergermarket Group, is an unparalleled, independent M&A intelligence tool used by the world’s foremost financial institutions to originate deals. It provides proprietary intelligence on potential deal flow, potential mandates and valuations via the world’s largest group of M&A journalists and analysts who have direct access to the most senior decision-makers and corporates.

Incorporated in December 1999 by founders Caspar Hobbs, Charlie Welsh and Gawn Rowan Hamilton, it has since become the fastest growing business in its sector. As well as expanding its coverage across Europe, Americas, Latin America and the Asia-Pacific region, the company continues to launch ground-breaking products and services.

In August 2006 The Mergermarket Group was acquired by the Financial Times Group, publisher of the Financial Times newspaper and FT.com. FT Group is a division of Pearson plc, the international media group. For further information, please see: www.mergermarket.com

SOURCE

The Mergermarket Group

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Aggreko and Shanduka Recognised for Delivering Africa’s Best Fast Track Power Project

Posted on 11 April 2013 by Africa Business

The power project has been awarded at the Africa Energy Awards

JOHANNESBURG, South-Africa, April 11, 2013/African Press Organization (APO)/ The Aggreko Shanduka cross-border power project, located at Ressano Garcia in Mozambique has been awarded Africa’s Best Fast Track Power Project in 2012 at the Africa Energy Awards. The award ceremony took place during the gala dinner of the Power and Electricity World Africa conference and exhibition being held from the 8th to 11th of April in Johannesburg.

Commissioned in July 2012, the Ressano Garcia project is recognised as the world’s first interim cross-border IPP (Independent Power Provider) project. Utilising natural gas from Mozambique’s Temane gas fields, the output of the plant is being injected directly into the national grid of Mozambique on site via a purpose built substation. The project saw the generation and supply of 110 MW of power to Electricidade de Mocambique (EDM), the national utility of Mozambique and cross-border to Eskom, the South African national utility.

While being a highly innovative project in terms of delivering much needed power to both countries, the judges were impressed by the truly fast-track nature of the project. Commissioning the project, from first breaking ground to being fully operational, took less than four months. This included a substantial civil infrastructure programme involving the building of access roads, a 1.2 km high pressure gas pipeline, gas processing and de-pressurising infrastructure, a major substation and 1.5 kilometres of 275 kV transmission line.

The project is connected to the Southern African Power Pool (SAPP) which links the power grids of nine Southern African countries. Taking advantage of this exceptional transmission infrastructure and the flexible nature of Aggreko’s power installations, on March 14th 2013 Aggreko (http://www.aggreko.com) announced that it would extend the Ressano Garcia facility to add an additional 122 MW. Coming on-line within the second quarter of 2013, this additional power will be shared between EDM and NamPower, the Namibian national utility and bring the total generating capacity of Ressano Garcia to 232 MW.

“To realise a project of this scale and complexity, the global resources of Aggreko were mobilised to project manage and engineer the installation of Ressano Garcia. This capability coupled with the expertise of our partnering contractors and customers, working together as one team resulted in the successful delivery of this remarkable project,” commented Ron Sams, Global Operations and Technology Director, Aggreko.

“We are thrilled to receive this award in conjunction with our partner Aggreko,” commented Phuti Mahanyele, CEO, Shanduka Group. “Access to sufficient and stable power supplies creates tremendous value for the development of the region. This project has also brought significant benefits to the local population, providing increased employment opportunities, stimulating wider economic activity and, through Shanduka’s Adopt-a-School Foundation, assisting in the development of a local primary school, Escola Primaria Completa De Ressano Garcia.”

Commenting on the award James Shepherd, Managing Director, Aggreko Southern and East Africa, “I’m delighted that what is indeed a unique and ground-breaking project has been recognised as such by our industry peers. Building a power plant of such size and complexity, on a completely greenfield site, in less than four months is truly remarkable. This award recognises the vision and hard work of the project team from Aggreko and Shanduka, our customers EDM and Eskom and all the partners that made this project such a resounding success.”

 

Aggreko plc

Aggreko plc (http://www.aggreko.com) is the world leader in the supply of temporary power and temperature control solutions. Aggreko employs over 5,700 people operating from 194 locations. In 2012 we served customers in about 100 countries, and had revenues of approximately GBP 1.6bn (USD 2.5bn or Euros 2.0bn). Aggreko plc is listed on the London Stock Exchange (AGK.L), is a member of the FTSE-100 index, and is headquartered in Scotland. For more information, please visit the company website at http://www.aggreko.com

Aggreko provides power and temperature control solutions to customers who need them either very quickly, or for a short or indeterminate length of time. Examples would be the supply of power to an industrial site which needs to service its permanent power supply, supplying a whole city in times of power shortage, or providing a major sporting event with power and cooling systems. We serve our customers either through our 194 service centres, which we call the Local business, or globally through our International Power Projects business.

In the Local business (http://www.aggreko.com/products-and-services), which accounts for about half of our revenues, we hire our equipment to customers, who then operate it for themselves, although we retain responsibility for servicing and maintaining it. In the International Power Projects business (http://www.aggreko.com/industries/case-study-library), which also accounts for about half of our revenues, we operate as a power producer. We install and operate power plants and we charge our customers both for providing the generating capacity, and for the electricity we produce. We design and manufacture equipment specifically for these requirements in our factory in Dumbarton, Scotland.

Recent customers include the London 2012 Olympic and Paralympic Games (http://www.aggreko.com/media-centre/press-releases/aggreko-supports-a-powerful-london-2012), the Vancouver 2010 Olympic Winter Games (http://www.aggreko.com/events/the-olympics/vancouver-2010) and the power utilities in over 50 countries including the UK (http://www.aggreko.co.uk), France (http://www.aggreko.fr), Angola, Kenya (http://africa.aggreko.com), Indonesia, Bangladesh, Venezuela, Chile (http://www.aggreko.cl), Brazil (http://www.aggreko.com.br) and the USA (http://us.aggreko.com).

In 2012 we fulfilled almost 45,000 customers’ assignments and 70% of those who responded to our research gave us a recommendation of 9 or 10 out of 10.

For more information, please visit our local website at: http://www.aggreko.co.za

Shanduka Group

Shanduka Group was founded in 2001 as a black-owned investment holding company. It is invested in a diverse portfolio of listed and unlisted companies, with key holdings in the resources and food and beverage industries. Shanduka is also invested in the financial services, energy, telecoms, property and industrial sectors. The group has investments in South Africa, Mozambique, Mauritius, Ghana and Nigeria.

The company’s investment philosophy rests on partnering with firms that have a history of delivering profitable earnings and capable management teams that embrace transformation.

Shanduka’s broad-based ownership demonstrates its commitment to empowerment and transformation. Part of its shareholding is held by trusts that invest in education and small business development. Total black ownership is 51%, of which an 18% shareholding is held by broad-based trusts.

For more information on Shanduka, please visit our website at: http://www.shanduka.co.za

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Aggreko plc

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Sustainable Energy for All: Sector Results Profile

Posted on 11 April 2013 by Africa Business

World Bank Group financing for power generation, transmission and distribution, and energy policy and regulatory reform has helped expand access to millions of households in over 60 countries. Bank Group financing, combined with advisory and analytical services, knowledge products, as well as policy support, has also helped launch and scale up renewable energy generation and energy efficiency at national, sub-national and municipal levels. During 2002-11, the Bank supported projects for the construction and rehabilitation of about 115,000 kilometers of transmission and distribution lines and about 19,000 megawatts of generation capacity to improve access to reliable energy.

Off-grid solar power is lighting up gers and herders' lives across the vast steppes of Mongolia. Seventy percent of Mongolia’s herders now have access to electricity.

Challenge

More than 1.2 billion people—about 17 percent of the world’s population—are without access to electricity, most of them concentrated in about a dozen countries in Africa and Asia. Another 2.8 billion rely on wood, charcoal, dung and coal for cooking and heating, which results in over four million premature deaths a year due to indoor air pollution. Shortages in power supplies, and their unreliable and poor quality, due to underinvestment, are also major challenges facing developing countries.

Electricity access must be reliable as well as environmentally and socially sustainable. Ensuring these depends on business models robust enough to mobilize financing, as well as policy and institutional frameworks that ensure that electricity access projects are both economically viable and sustainable from a climate perspective.

Solution

The Bank Group supports development of energy systems based on least-cost options with an emphasis on renewable sources, such as hydropower, wind, solar and geothermal, while also promoting energy efficiency. Projects support achievement of universal access to electricity and modern household fuels, as well as improved utility performance and sector governance. The Bank Group also provides financing and advice to countries on oil and natural gas extraction, production, processing, transmission and distribution.

Representative projects include support for grid expansion in India, rural electrification in Ethiopia, hydropower projects in Senegal and Cameroon, increased geothermal capacity in Kenya and Indonesia, off-grid solar home systems in Bangladesh and Mongolia, and support for off-grid lighting solutions in Africa through the Bank-International Finance Corporation (IFC) partnership, Lighting Africa.

Results

During 2002-11, the Bank supported projects for the construction and rehabilitation of about 115,000 kilometers of transmission and distribution lines and about 19,000 megawatts of generation capacity to improve access to reliable energy.

Some examples of results achieved with IBRD-financed projects include:

India: To extend power to India’s nearly 400 million people currently without electricity requires a massive expansion of transmission capacity. World Bank financing has helped India expand transmission across the country’s regions by 52 billion kilowatt-hours. It has also supported a five-year program from 2008-12, led by India’s Power Grid Corporation to increase its circuit by 40,000 km to reach 100,000 km, raising inter-regional electric power transfer capacity from 21 to 37 gigawatts. A $1.0 billion IBRD-financed project has supported expansion of five regional transmission systems, to enable transfer of power from energy-surplus regions to towns and villages in under-served regions. This expansion has helped to integrate the national grid, resulting in a more reliable system and reduced transmission losses.

Mexico: Mexico has achieved an energy efficiency milestone by distributing almost 23 million energy-saving light bulbs for free. The national program, partially financed by $185 million from the Global Environment Fund, established over 1,100 exchange points in 2011-12 at which customers replaced their incandescent bulbs with compact fluorescent lamps (CFLs).  In total, more than 5.5 million Mexican families now use energy-saving lamps that consume only 20 percent of the energy and last 10 times longer than a traditional light bulb. The first stage of the program, partially financed by the World Bank, resulted in savings of 1,400 gigawatt hours (Gwh). The program also enables families to save up to 18 percent of their electric bill.  When the second stage ends in 2014, it is estimated that the saving will be of 2,800 Gwh per year, preventing about 1.4 million tons of CO2 emissions.

The government of Bangladesh envisions a country with electricity for all. The World Bank has supported this vision of Bangladesh for 40 years.

Some highlights of results achieved in IDA-supported projects include:

Bangladesh: In 2002, only 7,000 Bangladeshi households were using solar panels. Today, more than 1.4 million low-income rural households in Bangladesh have electricity—delivered by solar photovoltaic (PV) panels. Installations of the panels under the IDA-supported Rural Electrification and Renewable Energy Development Project have doubled since 2010 to 40,000 a month. A $130 million IDA credit in 2009 and another for $172 million in 2011 followed earlier IDA financing that launched the project in 2002.

Competitively priced solar PV panels and a well-designed financing scheme have combined to deliver life-changing—and zero-carbon—electricity to bottom-of-the-pyramid families on a scale that was inconceivable only a few years ago. Under the program, non-governmental (NGO) partner organizations install the systems in households following standards, with the households paying 10-15 percent down with the rest financed by a microcredit loan. Funds from IDA, among others, re-finance part of the microcredit extended to the households. In addition to IDA support, the solar home systems program in Bangladesh has received financing from the World Bank-managed Carbon Finance Unit, the Global Partnership on Output-Based Aid, and several other donors including the Asian Development Bank, and the German agencies KfW and GIZ.

The program aims to deliver off-grid solar power to 2.5 million households by 2014, while also promoting mini-grids for rural consumers. In addition to delivering power to un-served communities, it is helping to reduce carbon emissions from avoided use of kerosene and diesel for lighting. The solar electrification industry and its supply chain in Bangladesh has also helped create, directly and indirectly, about 50,000 jobs.

Ethiopia: In Ethiopia three IDA credits totaling $440 million helped expand electricity to community services in about 4,300 towns and villages, benefiting over 30 million people by powering streetlights, local flour mills, water pumping and irrigation installations, telecommunications, businesses, schools and clinics in five years.  The Electricity Network Reinforcement and Expansion Project, approved by the World Bank in May 2012, extends this work by upgrading and extending the grid in order to improve the overall service delivery of the Ethiopian electricity network. The last project is expected to benefit 385,000 people.

Mongolia: About 500,000 people in Mongolia have gained access to solar power through a program launched in 2006 by the Mongolian government with support from the World Bank and the Government of the Netherlands. Thanks to the National 100,000 Solar Ger (Yurt) Electrification Program, 70 percent of Mongolia’s herders now have access to modern electricity.

In most of the vast landscape of Mongolia, nomadic herders used to have no access to electricity. Take a look at how a project helped bring changes.

Bank Group Contribution

Since 2008, the Bank Group has provided $45.3 billion for energy projects, with $21.9 billion from IBRD, and $8.5 billion from IDA. Of the total Bank Group financing, $11.6 billion—25.7 percent—was for renewable energy projects and programs, reflecting the determination of many countries to seek lower-carbon energy solutions. Energy efficiency, and transmission and distribution accounted for nearly one-third of energy financing. About 25 percent of the portfolio since 2008 is devoted to fossil fuel projects.

Partners

The Energy Sector Management Assistance Program (ESMAP) is a global knowledge and technical assistance program administered by the World Bank. ESMAP provides analytical and advisory services to low- and middle-income countries to increase their know-how and institutional capacity to achieve environmentally sustainable energy solutions for poverty reduction and economic growth. ESMAP is funded by Australia, Austria, Denmark, Finland, France, Germany, Iceland, Lithuania, the Netherlands, Norway, Sweden, and the United Kingdom, as well as the World Bank.

The World Bank-led Global Gas Flaring Reduction (GGFR) initiative is a public-private partnership that brings together representatives from major oil-producing countries and companies. The GGFR aims to minimize the flaring of natural gas associated with oil production by fostering critical collaboration between governments and industry so together they can address policy challenges and specific project implementation.  These efforts are starting to pay off. Since 2005, flaring of gas has dropped worldwide by almost 20 percent, preventing over 270 million tons of CO2 emissions, equivalent roughly to taking some 52 million cars off the road.

Lighting Africa is a joint IFC and World Bank program that works towards improving access to better lighting in areas not yet connected to the electricity grid. Lighting Africa catalyzes and accelerates the development of sustainable markets for affordable, modern off-grid lighting solutions for low-income households and micro-enterprises across the continent.

Moving Forward

The Bank Group’s strategic priorities in the energy sector are anchored around the goal of improving electricity access in an environmentally and socially sustainable manner. As energy security is essential for sustainable growth, the Bank will continue to work with other development partners to assist countries in achieving it, including through regional energy integration.

The Bank pursues a portfolio approach, including support for investments in power generation that are least cost and sustainable; strengthening and expanding transmission and distribution power networks; improving efficiency through technical assistance, and advisory services. The latter helps countries improve the performance of their electricity utilities, brings greater rigor to their governance, and offers guidance on policy and regulatory frameworks to attract and increase the impact of public and private sector investments. Some developing countries, especially those emerging from conflict, have weaknesses in capacity to implement projects. The Bank provides support to strengthen their capacity.

The World Bank is also sharing leadership with the UN of the Sustainable Energy for All initiative, which has three global energy objectives to be achieved by 2030: universal access to electricity and clean cooking fuels doubling the share of the world’s energy supplied by renewable sources from 18 to 36 percent; and doubling the rate of improvement in energy efficiency from 1.2 to 2.4 percent annually.

To date, about 70 countries have opted in to Sustainable Energy for All, while many public, private and nongovernmental actors have made commitments to support its implementation. The Bank committed to doubling the leverage of its energy financing, providing technical assistance to several opt-in countries and supporting initiatives in partnership with the Energy Sector Management Assistance Program (ESMAP). These initiatives include the Global Geothermal Development Plan, Lighting Africa and Lighting Asia, the Global Alliance for Clean Cook Stoves, the Global Gas Flaring Reduction Partnership (Phase Four) and mapping of renewable energy resources.

Beneficiaries

One beneficiary of the Bangladesh rural electrification project is Mussarat Begum, who runs a small teahouse in Garjon Bunia Bazaar, a rural community. She bought a solar home system for $457, initially paying $57, and borrowing the rest. She repays the loan in weekly installments with money she earns by keeping her now-lighted chai-shop open after dark.  At the same time, her children are able to study at night.

“My business is booming and my family lives much more comfortably with our increased income,” she said. “But most importantly, I now have electricity at home and my children can study at night. They are doing much better at school.”

Source: World Bank

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