PDF Publication Title:
Text from PDF Page: 022
pipeline projects are expected to be government sponsored, relative to 52% private and 11% public- private sponsored projects. We also review the mode of procurement, in particular of private sponsored projects, to assess the evolution of roles played by public and private partners in the wind energy industry. Results show that concessions – where the government passes the responsibility and risks of building, operating and maintaining the projects to private operators – are becoming more common. The most common PPP model observed in completed projects is the build-own-operate (BOO) scheme on projects fully owned and managed by the private sponsor. Morocco’s auto-producers tip the scale in favor of this model. BOOT contracts are more common in non-captive completed wind projects, as already discussed under section 3.2. Concession periods generally range between 20 and 30 years. PPPs are attractive from both a resources and risk-allocation perspective, as depicted by the Cabeolica wind farm (Box 3.1). Box 3.1: Funding Cabeolica Wind Farm, Cape Verde Project description: Cabeolica Wind Power project was to construct, operate and maintain four wind farms, with a combined capacity of 25.5 MW, on four islands (Santiago, São Vicente, Sal, and Boa Vista) of Cape Verde. Developers: Cabeolica was jointly developed by the Government of Cape Verde, Electra (the state-owned power utility company) and an infrastructure development company, InfraCo. InfraCo, which is privately managed but publicly funded by DFIs, was heavily involved in upstream activities to design and structure the project. The early stage development risks of the project were borne by the developers which paved the way for other investors to participate in the project. Project structure: The project was based on a PPP structure involving the Government of Cape Verde, Electra, a private equity fund (FinFund), the Africa Finance Corporation (AFC) and InfraCo. The project was developed using a Build Own Operate (BOO) procurement model implying that the operators would bear the risk of building, operating and maintaining the project. Financing: The total cost of the project was EUR 64 million of which the sponsors (The Africa Finance Corporation, InfraCo, FinFund, Electra and the Government of Cape Verde) mobilized equity financing worth Euro 19 million. Apart from indirectly providing equity funding to the project through InfraCo, DFIs further contributed all the debt financing. The AfDB and EIB provided Euro 15 and 30 million respectively in senior loans with a tenor period of 15 years and a grace period of 2 years. Risk management: To enhance the bankability of the project, several risk mitigation measures were adopted as demonstrated below: The private sponsors of the project were insured against political risk through the World Bank’s Multilateral Investment Guarantee Agency (MIGA) facility. A 20-year ‘take or pay’ Power Purchase Agreement was signed between the project company (Cabeolica SA) and the national power utility company (Electra) to purchase all the electricity produced by the project. A Support Agreement was signed by the Government and Cabeólica SA to guarantee that any payment deficiency on the part of Electra would be covered by the Government. A turnkey Engineering Procurement and Construction (EPC) contract and a service agreement, in form of an Operation and Maintenance (O&M) contract, were signed with a leading company in wind energy technology to reduce the sponsor’s exposure to risks during construction and operation of the project. Due to the volatility of the local currency, the price for electricity purchased from the project in accordance with the PPA was expressed in Euros. Source: AfDB, 2010 About USD 1.8 billion has been invested to develop the 1.1GW of installed wind generation capacity on the continent. Of the USD 1.8 billion, 59% was contributed by Development Finance Institutions (DFI) through non-concessional funding; mostly bilateral development agencies which account for 15PDF Image | Development of Wind Energy in Africa
PDF Search Title:
Development of Wind Energy in AfricaOriginal File Name Searched:
Working_Paper_170___Development_of_Wind_Energy_in_Africa.pdfDIY PDF Search: Google It | Yahoo | Bing
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
IT XR Project Redstone NFT Available for Sale: NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Be part of the future with this NFT. Can be bought and sold but only one design NFT exists. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Turbine IT XR Project Redstone Design: NFT for sale... NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Includes all rights to this turbine design, including license for Fluid Handling Block I and II for the turbine assembly and housing. The NFT includes the blueprints (cad/cam), revenue streams, and all future development of the IT XR Project Redstone... More Info
Infinity Turbine ROT Radial Outflow Turbine 24 Design and Worldwide Rights: NFT for sale... NFT for the ROT 24 energy turbine. Be part of the future with this NFT. This design can be bought and sold but only one design NFT exists. You may manufacture the unit, or get the revenues from its sale from Infinity Turbine. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Supercritical CO2 10 Liter Extractor Design and Worldwide Rights: The Infinity Supercritical 10L CO2 extractor is for botanical oil extraction, which is rich in terpenes and can produce shelf ready full spectrum oil. With over 5 years of development, this industry leader mature extractor machine has been sold since 2015 and is part of many profitable businesses. The process can also be used for electrowinning, e-waste recycling, and lithium battery recycling, gold mining electronic wastes, precious metals. CO2 can also be used in a reverse fuel cell with nafion to make a gas-to-liquids fuel, such as methanol, ethanol and butanol or ethylene. Supercritical CO2 has also been used for treating nafion to make it more effective catalyst. This NFT is for the purchase of worldwide rights which includes the design. More Info
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
Infinity Turbine Products: Special for this month, any plans are $10,000 for complete Cad/Cam blueprints. License is for one build. Try before you buy a production license. May pay by Bitcoin or other Crypto. Products Page... More Info
CONTACT TEL: 608-238-6001 Email: greg@infinityturbine.com (Standard Web Page)