Aviva looks to acquire victims of credit crisis

"As a direct result of the global financial crisis, management are now seeing fuel resources for integrated energy development that can potentially be acquired on deferred consideration terms," the company's CEO Lindsay Reed said in a recent quarterly report. "A number of such opportunities are being reviewed in Australia and Africa in both coal and gas."

In Botswana, ongoing fuel resources for energy development projects involve CIC Energy and Karoo Sustainable Energy (KSE). CIC Energy scaled down its massive Mmamabula Energy Project last year but is on track to build a 1 200-megawatt power station by 2013.