Energy

Scatec completes the sale of its 51% stake in African hydropower projects to TotalEnergies, aligning with its strategic focus. (Image source: Scatec)

Scatec ASA has completed the sale of its 51% stake in its African hydropower joint venture with Norfund and British International Investment (BII), aligning with its strategic direction

This follows the initial announcement in a stock exchange notice on 30 July 2024.

The deal closed at an agreed price of US$167mn, based on a valuation date of 31 December 2023. After adjusting for cash movements between the valuation and closing dates, the net proceeds are estimated at US$161mn. These funds will be allocated to Scatec’s self-funded growth strategy and corporate debt reduction.

Hydropower asset sold 

The transaction includes the operational 255 MW Bujagali hydropower plant in Uganda, as well as a development portfolio featuring the 361 MW Mpatamanga project in Malawi and the 206 MW Ruzizi III project, spanning Rwanda, the DRC, and Burundi. Additionally, as part of the agreement, the Hydro Africa team will transition to TotalEnergies under the newly formed entity SN Power AS.

Scatec CEO Terje Pilskog stated, “We are pleased with closing the transaction to sell our stake in the African hydropower assets to TotalEnergies. The divestment is in line with our strategy to optimise our portfolio and focus the majority of our investments in our core markets and on solar, onshore wind and battery energy storage. We are confident that TotalEnergies will be a strong owner going forward. I would especially like to thank the hydropower team that now moves to TotalEnergies for their hard work and dedication over the years.”

The sale has resulted in a proportionate accounting effect of approximately US$30mn and a consolidated effect of around US$50mn, primarily influenced by foreign currency fluctuations. These impacts will be recorded in Scatec’s financial results for the first quarter of 2025.

AMEA Power breaks ground on a 50MW solar plant in Ivory Coast, set to power 358,000 homes and cut 52,000 tons of CO₂ emissions. (Image source: AMEA Power)

AMEA Power, a rapidly expanding renewable energy company in the region, has officially commenced construction on a 50MW solar photovoltaic (PV) project in Ivory Coast

The groundbreaking ceremony, held on 27 February 2025, was attended by Mamadou Sangafowa Coulibaly, Ivory Coast’s minister of mines, oil, and energy, along with AMEA Power’s chief financial officer, David Falcon.

What can AMEA Power deliver?

Located in Bondoukou, within the north-eastern Gontougo region, the Bondoukou Solar PV Plant will produce 85 GWh of clean electricity annually. This output is sufficient to power approximately 358,000 households while reducing CO₂ emissions by over 52,000 tonnes. The project is managed by AMEA Goutougo, a fully owned subsidiary of AMEA Power registered in Ivory Coast.

With a total investment of US$60mn, the project is being financed by FMO and DEG. It aligns with Ivory Coast’s national strategy to increase renewable energy’s share in the electricity mix to 45% by 2030.

Hussain Al Nowais, chairman of AMEA Power, stated, “Today, we turn vision into reality. The 50MW solar plant is a landmark achievement for Ivory Coast and a testament to AMEA Power’s dedication to delivering clean energy solutions across Africa. This groundbreaking ceremony is an important symbol of partnership, we are proud to partner with the government and the people of Ivory Coast on this transformative journey.”

Once operational, the Bondoukou Solar PV Plant will be AMEA Power’s first active project in Ivory Coast. The company is also advancing plans for an additional 50MW solar PV installation in the country.

Beyond energy production, AMEA Power remains committed to socio-economic development. Through its Community Investment and Development Programmes, the company will engage with local communities, launching initiatives focused on gender equality, education, and skills training to ensure lasting positive change.

Read more: Time to accelerate off-grid renewables in Africa

Time to accelerate off-grid renewables (IMAGE SOURCE: Adobe Stock)

Expanding off-grid renewables will be essential to bring electricity to remote homes across sub-Saharan Africa, says the International Renewable Energy Agency (Irena)

In an update — timed to concede with SADC Sustainable Energy Week in Botswana this week — Irena called last year’s COP28 UAE consensus a ‘turning point’ in the global energy transition, committing to triple installed renewable energy capacity to 11.2 terawatts and double the global rate of energy efficiency improvements by 2030.

It noted that off-grid renewables will be integral to this goal, especially in developing regions of Africa.

“They not only contribute to renewable energy capacity and enhance energy efficiency at the local level, but are also uniquely positioned to expand electricity access and advance the Sustainable Development Goals (SDGs) in rural and remote communities,” the update stated.

In the global context, this will be essential to sub-Saharan Africa especially.

While the number of people that lack access to electricity dropped from 1 billion in 2014 to 685 million in 2022, Irena noted that the gains in global electricity access has almost flatlined since 2018, particularly in remote and rural areas of sub-Saharan Africa.

This has led the region to now account for 83% of the global access deficit — a “concerning” increase from 50% in 2010.

“This is where off-grid renewables can play a significant role,” it noted.

“Off-grid renewable energy solutions like solar home systems and mini-grids have emerged as lifelines for remote, last-mile communities, bringing electricity access to low-income households in underserved areas. These systems have enabled essential services and powering rural economies, benefiting 155 million people in 2023.”

Although small in scale, their socioeconomic and environmental impacts can be profound, Irena added, unlocking socio-economic benefits and contributing to multiple SDGs.

Benefits include improved healthcare delivery, increased access to clean water and sanitation, and education, allowing students in remote areas to extend study hours because of better lighting and electricity.

The Abu Dhabi-based agency called for an acceleration in efforts to roll-out off-grid renewables across the continent.

“Given the role they play in climate and development goals in rural areas, off-grid renewables deployment efforts in developing countries should be accelerated, underpinned by strong international cooperation and multi-stakeholder partnerships, which Irena has been advocating for,” it stated.

It identified key ways to do this such as integrating off-grid renewables into national and regional electrification strategies and plans, introducing supportive policies and regulations, and nurturing the development of local manufacturing and assembling supply chains.

In support of the scale-up of off-grid renewables, Irena provides technical platforms, establishes multilateral partnerships and facilitates knowledge-sharing — including through its biennial International Off-grid Renewable Energy Conference (IOREC), which is timed this year with SADC Sustainable Energy Week, taking place from 24-28 February 2025.

This year’s IOREC in Botswana explores ways to scale up off-grid solutions to advance sustainable growth and development in Africa and beyond.

The Africa Energy Indaba 2025 will unite leaders to address Africa’s escalating energy crisis, fostering sustainable and resilient solutions. (Image source: Adobe Stock)

The recent escalation to Stage 6 load shedding in South Africa, alongside severe power outages in neighbouring nations, highlights Africa’s pressing energy challenges

The upcoming Africa Energy Indaba, scheduled for March 4–6, 2025, at the Cape Town International Convention Centre (CTICC), presents a crucial platform for addressing these issues.

The economic impact of load shedding

Frequent power outages severely disrupt industrial and commercial activities, leading to productivity losses, revenue declines, and increased operational costs as businesses turn to alternative energy sources. Small and medium-sized enterprises (SMEs) are especially vulnerable, often lacking resources to mitigate these disruptions.

On a macroeconomic level, prolonged power shortages hamper foreign investment, slow economic growth, and drive unemployment. The unpredictability of the energy supply undermines investor confidence, stalling long-term development. Additionally, households face rising costs and reduced disposable income, impacting consumer spending and economic activity.

Regional energy challenges

South Africa is not alone in facing energy instability. Zimbabwe endures up to 19-hour daily blackouts due to challenges at Hwange Power Station, while Zambia faces 21-hour power cuts as drought conditions deplete Lake Kariba’s hydroelectric output.

These interconnected crises emphasize the urgent need for sustainable, resilient energy infrastructure across the continent. The Africa Energy Indaba will bring together industry leaders, policymakers, investors, and innovators to explore viable energy solutions.

Key Features of Africa Energy Indaba 2025

• High-Level Panels & Keynotes – Focused on energy security, diversification, and resilient power infrastructure.
• Technology Exhibition – Showcasing renewable energy innovations, energy storage, and grid management solutions from global leaders.
• Strategic Networking Opportunities – Enabling partnerships to boost investment and energy sector development in Africa.
• Policy & Regulation Discussions – Engaging governments and regulators to advance sustainable energy policies.

As African nations grapple with energy insecurity, the Africa Energy Indaba 2025 will serve as a collaborative forum to forge a sustainable and resilient energy future for the continent.