Market News| Africa Business News

Geothermal Development's turn to profit tilts energy mix

The Geothermal Development Company (GDC) broke the loss making streak to post Sh1.6 billion net profit in the full year ending June 2015 after inking a deal to sell steam from its Olkaria wells to the government. The State-owned firm generated its first revenue of Sh2.5 billion in the period under review being earnings from sale of underground steam to the Kenya Electricity Generating (KenGen) Co to produce geothermal.... Read more »

Posted on : Saturday , 1st October 2016

Toshiba to partner with Ethiopian power utility on geothermal development

Eastern Africa remains an important market for Japanese turbine suppliers. Toshiba Corp. has now announced the signing of a partnership agreement with the Ethiopian power utility. This follows similar partnership arrangements with Uganda, Tanzania and Djibouti. The company signed a comprehensive partnership agreement with Ethiopian Electric Power, that will see the parties collaborate in geothermal power generation projects and.... Read more »

Posted on : Thursday , 29th September 2016

Kenya Power to put up sh300m to boost power supply in Wundanyi

Kenya Power is putting up a sh300 million substation at Wundanyi in a bid to reduce frequent power outages and improve quality delivery of services to its customers. KPLC Regional Manager Coast Hezikiah Mwalwala disclosed on Tuesday they had been allocated land by the Taita-Taveta County Government to put up the high powered voltage project in the area. "We have been allocated half-acre plot by the county administration.... Read more »

Posted on : Thursday , 29th September 2016

Babcock invests in fully automatic CNC bending machine for their high pressure pipe fabrication facility

challenges by delivering trusted solutions and investing in best in class technology. With boiler experience dating back to 1891, Babcock is Africa’s most established and experienced boiler supplier, and offers a full range of specialised support services to the power generation and related industries. The company recently invested in a new, fully automatic, CNC bending machine for its specialist manufacturing facility for steam.... Read more »

Posted on : Monday , 26th September 2016

Tehran, Nairobi Mull Energy Cooperation

Oil Minister Bijan Namdar Zanganeh said the implementation of the accord between Iran and major powers, formally called the Joint Comprehensive Plan of Action, has paved the way for promoting Tehran-Nairobi relations that are of high importance to Iran. Zanganeh made the statement after meeting Kenyan National Assembly Speaker Justin Muturi in Tehran on Sunday, Shana reported. "Expanding cooperation with Africa tops.... Read more »

Posted on : Monday , 26th September 2016

Rwanda to import power from Kenya, Ethiopia and host global energy summit

Efforts to increase power supply in Rwanda will see the country import 30 megawatts from Kenya, expected by end of 2016, and 400 megawatts from Ethiopia by 2018. The East African country is also looking to lure more investors during the forthcoming 3rd annual energy summit due to take place later this year in Kigali. According to Jean Bosco Mugiraneza, the chief Executive Officer, Rwanda Energy Group (REG), the 3rd.... Read more »

Posted on : Saturday , 24th September 2016

KenGen bets on modular power plant technology

Kenya Electricity Generating Company (KenGen) has announced commencement of bids for the construction of modular geothermal power plants at Olkaria. According to KenGen, the construction of the plant will reduce over reliance on hydroelectric power generation. The new system will also cut the costs of generation. Modular power plant will generate power using a well head generator that will tap steam from the geothermal wells..... Read more »

Posted on : Saturday , 24th September 2016

Rwanda�s set to fulfil energy generation ambitions

THE East African country’s development agenda of Vision 2020, which aims to achieve 70 percent electrification connectivity and 563 megawatt generation capacity by 2018, will be under the spotlight during the Infrastructure Partnerships for African Developments (iPAD) Rwanda Energy Infrastructure Forum in November. The third edition of the iPAD returns to Kigali in with the continued strong, official support of the state power.... Read more »

Posted on : Friday , 23rd September 2016

Edenville Energy provides update on Rukwa coal project financial modelling

Edenville Energy, the company developing an integrated coal-to-power project in western Tanzania, has provided an update on the status of the financial modelling work for the project. A newly constructed financial model for the company's Rukwa coal-to-power project has been completed by Diamond Energy Ltd, an independent power modelling consultant, commissioned by the company. Rufus Short, CEO of Edenville Energy, said:.... Read more »

Posted on : Friday , 23rd September 2016

Kenya receives Sh700m in grants for energy sector

The Energy sector received a major boost yesterday when US President Barack Obama's government gave Kenya grants worth Sh700 million for green energy projects. Speaking at the signing ceremony witnessed by Obama, Deputy President William Ruto said the money will be used to fund clean energy projects in the country. "We have been working on increasing power generation in the country, so these grants will allow us to.... Read more »

Posted on : Friday , 23rd September 2016

More than $1 billion in Power Africa commitments finalized - USAID chief

More than $1 billion in debt and financing commitments from U.S. agencies and private investors is set to be announced on Wednesday for U.S. President Barack Obama's signature Africa energy initiative, Power Africa, a top USAID official said. The latest deals were finalized around a U.S.-Africa business forum on the sidelines of annual U.N. meetings in New York this week, USAID chief Gayle Smith said in an interview with Reuters..... Read more »

Posted on : Thursday , 22nd September 2016

Kenya Power honoured for its low-cost electricity project

Kenya Power has been named the most innovative firm at the African Investor's CEO Institutional Investment Summit awards for its aggressive electricity project targeting humble households. Kenya Power's World Bank-funded Global Partnership on Output-Based Aid project connects low-end customers primarily those in the rural areas and informal settlements with electricity. The firm has increased sales through the initiative.... Read more »

Posted on : Thursday , 22nd September 2016