SOUTHERN AFRICA
102MW wind farm for SA
WEST AFRICA
Lafarge Africa shares sink
INFRASTRUCTURE AFRICA
SOUTHERN AFRICA
SOUTH AFRICA
102MW wind farm for SA
Spain-based Elawan Energy has signed a power purchase agreement( PPA) to build a 102MW wind farm in South Africa with an investment of EUR145-million. The PPA is part of the fourth round of the South African Power Plan tender and will entail Elawan undertaking the project along with its local associates. The Copperton wind farm will be situated in the Northern Cape and its estimated annual production will be 360GWh per annum.
Amazing Albany
The Copperton wind farm will be situated in the Northern Cape and its estimated annual production will be 360GWh per annum.( Image is illustrative.)
During its 20-year term, the company expects to generate revenue of more than EUR400-million. Works are scheduled to begin in the second half of this year, with the wind farm expected to become operational by 2020, with an estimated annual production of 360GWh per annum. Source: www. power-technology. com
WEST AFRICA
NIGERIA
Lafarge Africa shares sink
On the back of a NGN33-billion( USD105- million) write-down on operations in South Africa and Nigeria, Lafarge Africa was pushed to a wider loss in 2017 than the previous year, sending its shares sharply lower. The one-off impairment charge left the African division of Franco-Swiss group Lafarge Holcim with a pre-tax loss of NGN34.03-billion, it revealed, just months after making its first capital increase in a decade. Its chief financial officer, Bruno Bayet, said that, after a year of restructuring, he expected 2018 to bring growth.“ The operations in Nigeria are still very robust and we have maintained strong performance,” he told Reuters. Lafarge Africa’ s sales rose 36 % last year, he said. Nigeria ' s cement industry has been hit by slow demand arising from weak economic growth in Africa’ s most populous nation, which recently emerged from a recession and a currency crisis that made dollar loans more expensive.
IOL
After a year of restructuring, 2018 is expected to bring growth to Lafarge Africa.
In South Africa, many construction firms are struggling, partly owing to a slow roll-out of a government infrastructure investment package, fuelling competition. To cut debt, Lafarge Africa raised NGN132- billion( USD420-million) through a rights issue in November. Analysts had forecast profit before tax of NGN13.6-billion for 2017, according to a consensus forecast. Bayet said NGN12.5-billion of the impairment was for a road project leading to its cement plant in the south-eastern Nigerian city of Calabar, which had taken too long to construct. The rest covered restructuring costs associated with merging its Nigerian operations, and its loss-making assets in South Africa, where the firm had changed its management team. He said core profit doubled to NGN58- billion in 2017. Source: Reuters
8- CEC June 2018