Following the financial close of Lake Turkana Wind Power Project (LTWP), the first disbursement of funds pursuant to the financing agreements signed in March 2014 has been received. The Sh70 billion project is the largest single wind power project to be constructed in Africa and is to date, the largest private investment in the history of Kenya and the most complex and challenging project financing undertaken in the renewable energy space in.... Read more »

Posted on : Monday , 29th December 2014

 The project, which was signed in Livingstone, Zambia last week on December 15, 2014, is set for completion in phases between 2016 and 2018. “By doing so power tariffs would be reduced, our people would now get cheaper power possibly below $0.10 cents per unit,” Prof Sospeter Muhongo, Tanzania’s Minister for Energy and Minerals told East African Business Week. Some of the development partners to the project which.... Read more »

Posted on : Wednesday , 24th December 2014

 Ghana has admitted that it is privatizing the country's power utility as part of conditions to access foreign funding, barely six months after it dismissed reports about the move. The government is holding a series of stakeholder meetings to consider concession or partial privatization of the Electricity Company of Ghana (ECG). "Government is considering concession or partial privatization of power utility, Electricity Company of.... Read more »

Posted on : Sunday , 21st December 2014

Ethiopia plans to expand industry, sugar factories and power production using proceeds from its oversubscribed debut Eurobond that raised $1 billion, the finance minister said on Tuesday. Ethiopia is the latest African state to receive a strong response on its first foray into the international debt markets. Investors have been eyeing Africa's sturdy growth rates and Ethiopia's economy is now expanding by about 9 percent a year. "This.... Read more »

Posted on : Sunday , 21st December 2014

 Continental Energy Corporation (OTCQB:CPPXF), the "Company", an emerging international energy investment company, today announced that its Tanzanian subsidiary, Ruaha River Power Company Ltd. ("Ruaha Power"), has been appointed manager of a US$ 95,000 grant from the Rural Energy Agency ("REA") of Tanzania.   The grant is made under the Tanzania Energy Development Access ("TEDAP") program with.... Read more »

Posted on : Saturday , 20th December 2014

Kenya may soon be home to the largest wind project on the continent of Africa. Danish wind company Vestas won a contract to provide 365 turbines for a 310 megawatt wind power project in Kenya. The Lake Turkana Wind Power project will be the largest of its kind in Africa, and is expected to generate 15-20 percent of Kenya’s electricity needs when completed. According to project developers, the site is a unique location that is favorable.... Read more »

Posted on : Friday , 19th December 2014

The governments of Zambia, Kenya and Tanzania have signed an MoU for US$1.2bn to for a power interconnector project between the three countries. The upcoming project would link the Eastern African Power Pool with the Southern African Power Pool. Christopher Yaluma, minister of mines, energy and water development in Zambia said the agreement signed would set out principles that underlined the relationship amongst the three governments of.... Read more »

Posted on : Friday , 19th December 2014

Kenya Power will Tuesday begin the search for suppliers of street lighting material, bringing a Sh10 billion project to light up Nairobi closer to reality. The electricity distributor plans to install 54,029 street lights in several parts of the city. It has already received the first tranche of Sh381.2 million from the Treasury to kickstart the project. “Currently, business transactions and productive activities are restricted mainly to.... Read more »

Posted on : Friday , 19th December 2014

Ormat Technologies Inc. (ORA), a U.S. developer of geothermal energy, signed a 25-year agreement to supply Kenya Power & Lighting Co. with electricity from a 35-megawatt project. Ormat’s majority-owned Kenya unit will build and operate the Menengai power plant, according to a statement today from the Reno, Nevada-based company. Construction is expected to begin after financing is completed, and terms of the power sale weren’t.... Read more »

Posted on : Friday , 19th December 2014

The African Development Bank (AfDB) will lend the Kenya Government Sh12.2 billion to help pay for more than 300,000 new electricity connections. This follows the signing of a loan agreement Thursday by Treasury secretary Henry Rotich and AfDB Regional Director Gabriel Negatu to finance the implementation of the ‘Last Mile Electricity Connectivity’ project. President Uhuru Kenyatta and Deputy President William Ruto witnessed the.... Read more »

Posted on : Friday , 19th December 2014

 JOHANNESBURG - South Africa will announce a series of renewable energy projects on Monday that will add 1,000 megawatts (MW) of power into the country's constrained electricity grid. It is also committed to introducing renewable into its mix of power generation, 95 percent of which is coal at the moment. The so-called "Window 4" of its renewable energy bidding rounds has invited bids for a range of renewable projects such as.... Read more »

Posted on : Thursday , 18th December 2014

Nairobi — The Kenya Electricity Generating Company (KenGen) has connected the Olkaria I unit 5 to the national grid, paving the way for the completion of the 280 Megawatt geothermal power project. The unit, still being tested, is now feeding 52.5MW of electricity to the national grid and marks the final phase in what is seen as a major step toward significantly lowering the cost of electricity in East Africa's largest economy. "On.... Read more »

Posted on : Thursday , 18th December 2014