Project developer Camco Clean Energy's share price leaped 38% today after it confirmed speculation that it was in the running to win two contracts.
The company released an unscheduled statement to the stock exchange confirming that along with a partner company, it is being considered for a contract "to assist with the deployment of capital into renewable energy projects in Africa on behalf of a third party".
A spokeswoman for the company refused to divulge further details, but Environmental Finance understands the mandate would be to manage investments for a fund.
In addition, Camco said that REDT – an energy storage technology company in which it owns a 49% stake – is "in discussions regarding a contract with a third party to manufacture its product".
The statement saw the company's share price rose 38% to 6.39p shortly after 1pm, although the price fell to about 5.92p by 1.20pm.
Camco's current portfolio of projects in Africa include solar panel installations in South Africa, a biomass project in Tanzania, and a forestry project in Malawi.
Peter Cripps
(Updated 2 June 2014, corrects share price in penultimate paragraph)
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