Development Funding and Advisory Support
Development Bank of Southern Africa (DBSA)
NewAfrica is receiving project funding support in the form of a R14.5mn (USD 900,000) Project Preparation Facility (PPF) loan with Development Bank of South Africa (DBSA) for consultancy fees to take the Timbadola CHP to financial close by the end of June 2027. More than 30 workstreams are being undertaken, including grid connection/ municipal electricity sale, confirmatory biomass study, biomass logistics, supply chain, legal contract drafting and carbon offsets. The PPF Agreement with DBSA was signed in February 2025, and workstreams started June 2025. Heading
Sustainable Energy Fund for Africa (SEFA)
The Sustainable Energy Fund for Africa (SEFA) programme under the African Development Bank awarded a USD 1mn project loan facility to NewAfrica for bioenergy CHP project development, including detailed engineering for 5MWe and 10MWe standard CHP offerings. The detailed engineering work was started in March 2025 by SiVEST SA (Pty) Ltd. NACE benefits from the standard 10MWe solution developed by this project.
NORAD (Norwegian Agency for Development Cooperation)
NewAfrica is benefitting from a, NOK 10mn (USD 1mn) NORAD employee training grant. The training grant for the CHP covers 50% of employee, management, HR structures and training for the development and operating organisation. The training program started in November 2024.
GET.Invest Finance Catalyst
NewAfrica is receiving support from GET.Invest Finance Catalyst (F-C) in terms of an Advisory Services support agreement. F-C have agreed to provide support on the Timbadola CHP financial modelling and project contracts/ term sheets, including review, recommendations and advice, including the full development of a new financial model.
