Friday, 16 October 2026

Nigeria's Dangote Petroleum Refinery reported a net profit of USD 4.73 billion for the first nine months of 2026, according to Oil Review Africa. A year earlier, the Lagos-based refinery posted a USD 117.2 million loss over the comparable nine-month period.

The swing to profit came as the refinery sought USD 1.6 billion from an initial public offering slated to be the largest in African history, Oil Review Africa reported.

The outlet attributed the turnaround to processing greater volumes of crude oil and capturing elevated refining margins on the global market.

Voltus closed an oversubscribed USD 225 million Series D round aimed at scaling its distributed energy resource platform in the U.S. and Canada, according to pulse2.com.

Generation Investment Management anchored the round. Activate Capital and Vitol came in as co-leads, pulse2.com reported.

The company intends to grow its platform to 20 GW of capacity by 2030 using the proceeds, per pulse2.com.

Part of the plan centers on Voltus's Bring Your Own Capacity offering in the PJM and MISO markets, alongside hooking up more batteries and other distributed resources across its network, according to pulse2.com.

Concord New Energy closed a USD 400 million financing package to support its U.S. renewable energy efforts and digital infrastructure portfolio, according to Solar Builder.

First Citizens Bank, Goldman Sachs Alternatives and Associated Bank led the transaction, which combines debt, preferred equity and letter of credit facilities, Solar Builder reported.

The company's Project Chisme in Texas pairs 215 MW of solar with a 147 MW/358 MWh battery system, according to Solar Builder. Project Chisme received USD 310 million in debt and letter of credit financing and will be Concord New Energy's first U.S. utility-scale project.

Trina Solar will take a 1.6% holding in Chinese PV encapsulation film maker Changzhou Betterial Film Technologies, paying CNY 40 million (USD 5.88 million), pv magazine reported on Oct. 15.

The purchase transfers 3.27 million shares from Jiangsu Baixing Industrial Investment Group, with Trina Solar drawing on its own capital to fund it, according to pv magazine.

Trina Solar tied the move to its component sourcing, saying Betterial's film output feeds directly into its solar manufacturing, pv magazine reported.

The SADC Committee of Stock Exchanges selected Botswana as the host trading venue for regional investors seeking access to the Dangote Petroleum Refinery and Petrochemicals IPO, according to TechCabal.

Botswana's stock exchange will serve as the common venue, while Access Bank Botswana will issue the country's depository receipts, TechCabal reported.

The arrangement offers Botswana-based investors a potential route to exposure to ordinary shares in Dangote Petroleum Refinery and Petrochemical FZE through unsponsored Botswana Depository Receipts, according to Fantastic Moments.