Akili Energy

08/03/2026

Financing and M&A Trends in Africa’s Oil & Gas Sector | February 2026 Market

Africa’s oil and gas sector continues to attract significant capital despite a global shift toward energy transition.

Recent transactions across Ghana, Angola, Kenya, Senegal, and Equatorial Guinea demonstrate a clear evolution in financing structures, investor profiles, and strategic positioning by both national oil companies (NOCs) and independent operators.

In February 2026 alone, $3.49 billion in capital was mobilized across financing and M&A transactions, highlighting strong investor confidence in African hydrocarbon assets.

Financing activity dominated capital flows, accounting for 83% of total capital deployed ($2.879 billion), while M&A and asset acquisitions represented $609.5 million.

The key takeaway: African upstream and midstream assets remain attractive, but deal structures are shifting away from traditional project finance toward equity markets, balance-sheet financing, and commodity-linked funding structures.

Read more
https://www.akilienergy.com/news/financing-and-ma-trends-in-africas-oil-gas-sector-february-2026-market

08/03/2026

Electrification in Africa: Over €1 Billion to Accelerate Access to Electricity

Access to reliable electricity remains a major challenge across Sub-Saharan Africa, where nearly 600 million people still live without power.

A new €1 billion investment from the European Investment Bank (EIB) will support energy projects aimed at accelerating electrification and helping bring electricity to 300 million people. This initiative is part of a broader effort led by the World Bank and the African Development Bank to close the continent’s electricity access gap.

Why does this matter?

🔹 Energy access drives development
Electricity supports economic growth, healthcare, education, and digital connectivity.

🔹 Supporting the energy transition
Investments will also promote cleaner and more resilient energy systems, including renewable energy and decentralized solutions.

🔹 Unlocking economic potential
Reliable electricity empowers businesses, strengthens local economies, and creates jobs.

While challenges remain, this investment marks an important step toward expanding energy access and supporting sustainable development across Africa.

https://www.akilienergy.com/news/electrification-in-africa-over-1-billion-to-accelerate-access-to-electricity

03/03/2026

🌍 Africa Renewable PPA Market – February 2026 Snapshot

February 2026 confirms a structural shift in Africa’s renewable energy market.

≈903 MW of renewable capacity was contracted during the month — not record-breaking in size, but highly significant in structure.

⚡ The key shift:
Africa’s PPA market is moving from policy-driven procurement to corporate-driven demand.

Unlike February 2025 — which was dominated by utility-backed, long-tenor wind projects — February 2026 transactions were led almost entirely by private offtakers, particularly mining companies and energy traders.

⛏️ Mining as anchor demand
Mining companies are accelerating renewable procurement to secure energy costs and protect export competitiveness in a carbon-constrained global market. Renewable PPAs are now strategic industrial tools, not just ESG commitments.

📍 Southern Africa at the forefront
Market liberalisation — particularly in South Africa — continues to position the region as Africa’s private power market laboratory.

To read more, follow the link below
https://www.akilienergy.com/news/africa-renewable-ppa-market-february-2026-snapshot

02/03/2026

Nigeria’s Electricity Sector Under Pressure: Access Gaps, Fuel Shortages and Mounting Debt

Nigeria — Africa’s most populous country — is once again confronting the structural weaknesses of its electricity system.

Recent sector data paints a clear picture: the challenge is no longer only building power plants, but ensuring they can actually operate, be paid for, and deliver reliable electricity to consumers.

Three numbers summarize the situation:

⚡ Only 43% of the gas fuel required by power plants is currently being supplied.
🔌 National electricity generation has fallen to about 4,300 MW — for over 200 million people.
💰 The sector is carrying roughly $4.4 billion in debt.

What does this mean in practice?
• Frequent load shedding and outages

• Higher operating costs and rising inflation

The issue is not simply a lack of power plants — it’s a market and payment chain problem.

When tariffs don’t cover real costs, distribution companies struggle to collect revenue, generators remain unpaid, gas suppliers reduce deliveries… and electricity production drops.

To read more? Check the link below

Nigeria’s power sector faces serious challenges as gas supply shortages cut electricity generation to 4,300 MW and sector debt reaches $4.4 billion.

19/01/2026

Mozambique’s offshore gas sector has reached a new milestone as the Coral Norte project enters its construction phase, following a final investment decision (FID) taken in October 2025. The USD 7.2 billion FID confirmed the industrial ex*****on of the project, reinforcing Mozambique’s role as a major emerging liquefied natural gas (LNG) producer in East Africa.

Led by Eni, the Coral Norte floating LNG (FLNG) unit is being developed in the Rovuma Basin, offshore Cabo Delgado. On January 16, 2026, the hull of the installation was successfully launched at the shipyard of Samsung Heavy Industries in Geoje, South Korea. This first float-out marks a critical construction milestone, paving the way for the installation of gas production and liquefaction modules on the vessel.

Coral Norte represents the second phase of the Coral gas field development, following Coral South, which has been operational since 2022. The field holds more than 500 billion cubic meters of gas in place. With a liquefaction capacity of 3.55 million tonnes per year, Coral Norte will raise total field capacity to about 7 million tonnes annually once it comes on stream, expected in 2028. The project is being developed by a consortium comprising Eni (50%, operator), CNPC (20%), KOGAS (10%), ENH (10%), and XRG (10%).

19/01/2026

Ethiopia has announced plans to build its first nuclear power plant by 2036, marking a major step in its long-term energy strategy and a shift toward advanced baseload generation. Beyond energy security, the nuclear program has become a key diplomatic and strategic project, requiring strong technological, regulatory, and institutional partnerships in a sector largely dominated by a handful of global players, including Russia.

The initiative is being coordinated by the Ethiopian Nuclear Energy Commission, created in October 2025. Ethiopian officials say preparations are progressing rapidly, with the goal of commissioning a nuclear plant in less than ten years. This follows a bilateral agreement signed with Russia covering the planning, construction, economic structuring, and workforce training for the future facility. The project is supported by Rosatom, whose leadership has pledged to share advanced nuclear technologies and assist Ethiopia in building the necessary infrastructure and human capital.

While Russia is currently Ethiopia’s main partner, Addis Ababa is deliberately keeping the door open to Europe. In early 2026, Ethiopian nuclear authorities held discussions with European, French, and Finnish diplomats to explore cooperation in regulatory frameworks, nuclear waste management, and skills development. This diversified diplomatic approach reflects Ethiopia’s intention to balance geopolitical partnerships, mitigate project risks, and ensure that its future civil nuclear program meets international safety and governance standards.

19/01/2026

Stardust Solar Energy has signed a 20-year power purchase agreement (PPA) in Zambia for the development of a 30-megawatt solar photovoltaic power plant, highlighting the growing role of long-term contracts in attracting private investment into the country’s renewable energy sector. The agreement was announced on January 13, 2026, and was concluded with ZESCO Limited through Stardust Solar’s local subsidiary, Stardust Solar Zambia.

Under the terms of the contract, electricity generated by the plant will be sold at a fixed tariff of USD 0.07 per kilowatt-hour over 20 years. Based on current production and demand assumptions, the project is expected to generate between USD 60 million and USD 90 million in gross contracted revenues over the life of the agreement. Stardust Solar will finance the development and construction of the plant and provide engineering and technical supervision, in return for a fee equivalent to 50% of net energy revenues after approved operating costs.

The project comes amid a rapid expansion of solar investment in Zambia, driven by government efforts to diversify an electricity mix historically dominated by hydropower. According to the International Energy Agency, hydropower accounted for around 90% of Zambia’s electricity generation in 2023, leaving the system vulnerable to drought. In response, several large-scale solar projects—ranging from 30 MW to 100 MW—have been launched across the country since 2025, strengthening grid resilience and improving long-term energy security.

19/01/2026

National Oil Corporation has launched Libya’s first-ever deepwater hydrocarbon exploration well, marking a strategic shift in the country’s oil and gas policy, historically focused on onshore production. The drilling operation began in mid-January 2026 in the Gulf of Sirte, as part of Libya’s broader ambition to raise national oil output to around 1.6 million barrels per day by the end of 2026.

The project is being carried out under a partnership involving Eni, BP, the Libyan Investment Authority, and the NOC. Drilling is taking place in offshore contract area 38/3, in waters approximately 1,900 meters deep, using a drilling vessel operated by Saipem. The well is expected to reach a total depth of about 4,500 meters below the seabed, although details on the targeted geological structure and drilling timeline have not been disclosed.

Libya holds Africa’s largest proven oil reserves—about 48 billion barrels—most of which are located onshore in the Sirte and Murzuq basins. With onshore resources maturing and investment needs rising, offshore exploration is regaining strategic importance. This deepwater drilling follows the NOC’s recent licensing round covering both onshore and offshore blocks and reflects Libya’s push to diversify its resource base, attract foreign investment, and secure long-term production growth amid ongoing energy sector reforms.

19/01/2026

GOIL PLC has announced a targeted reduction in fuel prices across about 150 of its service stations nationwide, reflecting the importance of fuel costs in household spending and the broader transport and trade sectors in Ghana. The measure, unveiled on January 16, 2026, applies to Super XP petrol, Diesel XP, and Super XP 95 premium petrol, aiming to ease pressure on consumers during a fragile economic recovery.

Before the adjustment, GOIL sold Super XP at 12.52 cedis per litre, Diesel XP at 12.76 cedis, and Super XP 95 at 14.85 cedis. Under the new pricing in the selected stations, these fuels are now priced at 10.99 cedis, 11.96 cedis, and 13.97 cedis per litre respectively. The company explained that this initiative aligns with its role as a national energy company committed to supporting wider socio-economic objectives, while noting that standard pump prices will remain in place at its other outlets.

GOIL has not disclosed how long the price cuts will last, nor whether they will be extended across its full network, and has provided no details on the impact on its margins. Financially, the company remains on solid footing: its 2024 annual report shows net profit after tax rose by about 55% year-on-year to 84.7 million cedis. The announcement comes amid broader efforts to stabilise the energy sector, as Agence Ecofin recently reported that Ghanaian authorities spent $1.47 billion to clear long-standing energy sector arrears.

04/11/2025

en

South Africa’s largest single-site solar power plant has reached a major milestone. The PV2 section of the Mooi Solar project (240 MW) has been successfully connected to the grid, marking a crucial step toward the full commissioning of the facility led by China Energy Engineering Group International and China Gezhouba Group Company Limited.

Launched in March 2024, the Mooi Solar project, located in South Africa, is being developed across three sections – PV1, PV2, and PV3 – and represents the country’s largest single-site photovoltaic installation to date.

On October 28th, the PV2 section completed installation, commissioning, and grid connection, paving the way for the start of commercial power generation in the coming months.

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fr

La plus grande centrale solaire à site unique d'Afrique du Sud a franchi une étape importante. La section PV2 du projet Mooi Solar (240 MW) a été raccordée avec succès au réseau, marquant une étape cruciale vers la mise en service complète de l'installation dirigée par China Energy Engineering Group International et China Gezhouba Group Company Limited.

Lancé en mars 2024, le projet Mooi Solar, situé en Afrique du Sud, est développé en trois sections – PV1, PV2 et PV3 – et représente à ce jour la plus grande installation photovoltaïque sur un seul site du pays.

Le 28 octobre, la section PV2 a achevé son installation, sa mise en service et son raccordement au réseau, ouvrant la voie au démarrage de la production commerciale d'électricité dans les mois à venir.