Standard Bank backs BlueCore Gas InfraCo with $285m structured acquisition funding solution

Financial services provider Standard Bank has reported that it has delivered a comprehensive $285-million debt and equity financing solution, which it says will “alter the landscape” of Nigerian energy. The company, in a media release, explains that the recently completed transaction enables BlueCore Gas InfraCo to acquire 100% shareholding in Glover Gas & Power, the owner of Axxela, a player in Nigeria’s natural gas sector.
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Stakeholders invited to comment on Eskom’s ferrochrome NPA application

The National Energy Regulator of South Africa (Nersa) invites members of the public to submit comments on State-owned power utility Eskom’s request for a temporary electricity price relief for negotiated pricing agreements (NPAs) with Samancor and Glencore-Merafe for a period of 12 months. Written comments should be submitted via email to EskomNPAApplication@nersa.org.za. The closing date for written comments is January 20.
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South Africa relaxes laws to salvage firms hit by power costs

South Africa eased antitrust rules to allow competitors in industries hit by high power costs to cooperate on negotiating cheaper power supply in a bid to prevent their total collapse, a move that potentially helps the country’s ailing ferrochrome industry. Trade, Industry and Competition Minister Parks Tau changed the scope of an energy users’ block exemption in the Competition Act in regulations published January 5, allowing firms operating in “industries in distress” to jointly negotiate buying energy, share ownership of backup generation capacity and collectively work with suppliers as long as no price-fixing of goods and services takes place.
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