First large-scale wind farm in West Africa begins producing power

Posted On Dec 31 2020 by

first_imgFirst large-scale wind farm in West Africa begins producing power FacebookTwitterLinkedInEmailPrint分享Recharge:Power is flowing from West Africa’s first large-scale wind farm in a new milestone for the sector’s growth on the continent, said the project’s developer.The first turbines from the 159MW Parc Eolien Taiba N’Diaye were connected to Senegal’s national grid on Thursday, said a statement from Lekela.The developer, part-owned by global clean energy group Mainstream Renewable Power, has spent 10 months building the wind farm using 46, 3.45MW Vestas turbines, all of which are due to be in place by year’s end.Parc Eolien Taiba N’Diaye will deliver 450GWh annually to the Senegalese grid, boosting its capacity by 15%.The Senegal project marks another step forward for wind power in Africa, where large-scale development has so far mostly been confined to big North African markets such as Morocco, and at the other end of the continent in South Africa.In East Africa, the standout development so far has been the 310MW Lake Turkana project. [Andrew Lee]More: West Africa’s first wind power flowing to grid in new milestonelast_img read more

Marenave’s Final Vessels Sold Off

Posted On Sep 28 2020 by

first_imgThe remainder of the fleet once owned by German shipping trust Marenave Schiffahrts has been sold through a bank-driven process, data provided by the company shows.The data lists a mix of six tankers, two containerships, four bulk carriers and a car carrier as sold. The majority of the fleet was disposed of in March, May and June, respectively, while the final two ships were sold in the second half of September, according to data provided by VesselsValue.The two ships in question, the LR1 tankers Mare Pacific and Mare Atlantic, reached a price tag of USD 5.9 million and USD 5.4 million. VesselsValue data also shows that the 68,500 dwt tankers, built in 2001, were purchased by Greece-based Stalwart Management.With the final vessels disposed, the company has fulfilled the conditions for its restructuring, as earlier set by Marenave’s financing banks.However, the company’s existence was once again put into question in mid-September as the proposed capital reduction, another condition for implementing the restructuring concept, was rejected by key shareholders.At the annual general meeting held on September 15, members postponed capital reduction. Consequently, the investment agreement involving CPO Investments GmbH & Co. KG (Offen Group) and DEVK Allgemeine Versicherungs-Aktiengesellschaft fell through.The shipping trust started its negotiations with the financing banks in late 2016 in order to avoid insolvency after it received notice from the two banks financing the Marenave-fleet stating that Marenave’s restructuring concept will not be supported.World Maritime News Stafflast_img read more