Market News| Africa Business News

Symbion to Co-Invest $100 million In Methane Gas Project in Rwanda

Symbion CEO, Paul Hinks has announced that they will collaborate with Highland Group Ltd to make an investment of $100 million to generate 106 megawatts of methane power on Lake Kivu in Rwanda. The lake has an estimated 55 billion cubic meters of naturally occurring methane gas. The power generation capacity of Lake Kivu has been conservatively estimated at approximately 500 MW over a period of 40 years. At.... Read more »

Posted on : Wednesday , 1st November 2017

Kenya Power- Network Expansion To Cost Ksh 40B

Over the next three years, Kenya Power is targeting to increase its customers to 7.5 million, plans to commercialize its fiber optic cable to generate some of the cash to finance the power network expansion. The total installed capacity currently stands at 2333MW bolstered by intense geothermal generation while peak demand is 1,656MW. Demand for electricity for the year to June 30th grew 4.4%. Even though a bulk.... Read more »

Posted on : Monday , 30th October 2017

Company From China To Build Geothermal Plants in Kenya

Kenya has permitted the largest Chinese manufacturer of rock drilling equipment to build and explore geothermal power plants in the country. Kaishan Group secured the contract to drill steam wells in the Suswa south-Magadi-Shompole steam fields, in Narok County. The license that the company received gives it the leeway to sink exploration wells in the area for up to three years and subsequently proceeds to operate and.... Read more »

Posted on : Monday , 30th October 2017

Kenya Close to Achieving Major Price Cuts in Power Supply

An auctioning program is set to cut power costs for Kenyan consumers. Power in Kenya is currently provided by PV firms and this news of price cuts will no doubt please the Kenyan population. The utility firm’s managing director, and CEO, Dr. Ken Tarus has predicted a decrease in the cost incurred by Kenya to purchase power from across foreign borders from Sh12 per kilowatt-hour to Sh6 per kilowatt-hour. The Kenyan.... Read more »

Posted on : Friday , 27th October 2017

Tanesco Project To Surpass Early Investor Expectations

The Tanzania Electricity Supply Company (Tanesco) have committed themselves to provide an abundant stream of power to any large-scale investors with an interest in the Ruvuma Region. Tanesco Ruvuma Regional Manager, Eng. Patrick Lwesya assured power supply in abundance to the Ruvuma region, once work on the Makambako-Songea transmission line is completed. He was quoted saying “People of Ruvuma will no longer experience.... Read more »

Posted on : Tuesday , 17th October 2017

A Million More Homes To Gain Access To Power in Kenya and Uganda

One million homes in Kenya and Uganda will gain access to electricity, thanks to a number of investors’ raisings Sh 8 billion in collaboration with the UK government to finance a new solar project. Kenya based solar kit reseller, M-KOPA Solar announced that the initial payments were made through Dutch Development Bank FMO (Sh 1.3 billion), UK Investment Agency CDC (Sh 2 billion), Norwegian government’s Nor fund.... Read more »

Posted on : Thursday , 12th October 2017

RURA Aims to Power 70 percent of Rwanda

RURA’s role as a regulator of the energy sector is to assist national socio-economic transformation and poverty eradication by providing sufficient, reliable, affordable and sustainable energy supply. The goal remains to create and foster an environment that encourages more involvement from the private sector, which is only positive and a change from when the government was the sole investor in the energy.... Read more »

Posted on : Wednesday , 11th October 2017

Kenya-Solar Products in High Demand

There has been an increased demand for solar water heating systems after the announcement of the November 30th deadline for the installations of these systems, according to sources from within the industry. The announcement was in accordance with the Energy Regulations of 2012, where all industrial, commercial and large residential building in urban centers’ are mandated to install these water systems. The.... Read more »

Posted on : Friday , 6th October 2017

Rwanda to Have Complete Access to Power Within 7 Years

Rwanda Energy Group has intertwined its energy rollout plan to fit that of the Rwandan government. Nationwide energy supply is to be its primary objective over the next seven years. The REG also stated that there are no plans in place for the additional supply of power to the grid prior to 2018. This new strategy has come in a time of uncertainty over the viability of the 583MW plant by 2018. The generation.... Read more »

Posted on : Friday , 6th October 2017

Magufuli to Move Ahead With Selous Dam Despite Criticism

Tanzania Selous Game Reserve, one of the world’s biggest faunal reserves has gained a lot of traction in recent times from a minimum of 50 multinational companies. The intention of these companies is to construct the Rufigi hydropower project at Stiegler’s Gorge. Potential bidders were required to have a minimum of US$ 500 million turnovers, as directed by the Ministry of Energy and Minerals. The Selous Game Reserve.... Read more »

Posted on : Monday , 2nd October 2017

$100 million Mining Deal Agreed in Rwanda

USA based Symbion Energy and Germany based Higland Group Holdings Ltd. (HGHL) have signed a $100 million deal to collaborate on a project to extract Methane from Lake Kivu in Rwanda. Symbion CEO, Paul Hinks said that the two designs in place for a $370 million project to generate as much as 106 megawats of Methane gas from the lake. Lake Kivu has an estimated reserve of 55 billion cubic meters of methane gas occurring.... Read more »

Posted on : Tuesday , 26th September 2017

Norwegian energy sector eye investments in Rwanda

10 companies from the Norwegian energy sector were hosted by the Rwanda-Norway Energy Forum last week. Rwanda’s energy continues to have tremendous potential for future growth as only 35 per cent of the country has access to electricity. The goal is to convert that number to 70 percent by 2018 and 100 per cent by 2024 according to the Rwanda Energy Group (REG) The Rwandan Government also have a vested interest in.... Read more »

Posted on : Friday , 22nd September 2017