Kenya’s Kipeto wind farm has secured a $10m loan agreement to fund biodiversity

Earlier this month, the shareholders of Kipeto Energy Plc arranged a $10m pioneering loan agreement with The Nature Conservancy (TNC) to finance human-wildlife initiatives around Kenya’s second biggest wind farm.

The 100 MW Kipeto wind energy facility started commercial operations earlier this year and is developed by BTE Renewables, an Actis company, along with its local partner Craftskills Wind Energy International.

The arrangement of this new loan is a first for Africa’s wind power industry and will see the implementation of several conservation initiatives, further demonstrating new models of funding for the sector.

The funding will notably support the project’s biodiversity action plan (BAP) that seeks to improve the livelihoods of the Kajiado communities by creating jobs and building improved predator-proof animal enclosures for local farmers.

“BTE and TNC designed the investment via a $10 million fixed-rate mezzanine loan to the project, alongside a commitment by the project to provide annual funding for critical conservation initiatives throughout the life of the wind power project,” BTE Renewables said in a statement.

Full details on the Kipeto Wind Farm are available in the “Projects” section within your Hawilti+ research terminal.

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Trident Energy completes gas lift system milestone offshore Equatorial Guinea

Trident Energy’s ongoing offshore campaign in Equatorial Guinea continues to progress with the successful installation this month of a new gas lift distribution unit (GLDU) at Ceiba. This notably follows the successful completion on the field of a deep offshore hot tapping operation in April this year, and the start of a three-well drilling campaign last June. The installation of a new GLDU was necessary in order to replace the existing one where gas leaks were detected on the seabed four years ago when Trident Energy and Kosmos Energy acquired The Ceiba & Okume complex on Block G from Hess. Ceiba and Okume are two of the Gulf of Guinea’s most attractive brownfield assets. Earlier this year, Panoro Energy completed its acquisition of Tullow Oil EG, securing in the process a 14.25% non-operated working interest in Block G.   Ceiba relied on 16 production wells and 10 water injectors as of 2020 and its contract expires in 2029. On the other side, Okume relies on 32 production wells and 12 water injectors and its contract expires in 2034. Source: Kosmos Energy The 2021 drilling campaign focused on three new wells: Elon-C, Elon-A and Elon-D. Moving forward, production over 2023-25 could then be further increased if driven by facility upgrades, well workovers, perforation of behind pipe zones and infill drilling. Full details on the Ceiba & Okume Fields Development (Block G) are available in the “Projects” section within your Hawilti+ research terminal.

AIIM closes $370m financing for IDEAS Managed Fund – plans to keep investing in renewable energy

African Infrastructure Investment Managers (AIIM) has announced it has successfully completed a capital increase of ZAR 5.5 bn (about $370m) for its IDEAS Managed Fund (IDEAS) dedicated to infrastructure financing in the Southern African Development Community (SADC) region. “The new commitments were secured from 19 key South African institutional and pension fund investors, with two thirds of the capital being committed by new investors to the Fund,” AIIM said in a statement. The fundraise notably exceeded the company’s initial ZAR4.5bn ($301m) target by 20% and has taken the size of the open-ended fund to over ZAR 22 bn ($1.475bn). IDEAS has already been a critical investor in some of Southern Africa’s most famous sustainable infrastructure projects, and has allocated 75% of its capital so far to the renewable energy space. Such investments have notably seen the fund invest in several solar PV plants under South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). Freshly raised capital will support the expansion of IDEAS’ portfolio in additional sustainable infrastructure assets, with additional investment likely to be made into South Africa’s new renewable energy projects currently at the procurement stage.