Market News| Africa Business News

Kenya: Sh21 Billion Wind Power Project to Help Local Community

Investors of the Sh21 billion wind power project at Baharini in Mpeketoni, have promised to create many jobs for locals. They said they will also establish a Sh15 million annual trust fund to support local communities. The wind harnessing plant is a project of a Kenyan firm Kenwind Holdings in partnership with Belgium's Electrawinds and the World Bank. The International Finance Corporation, World Bank's private sector.... Read more »

Posted on : Wednesday , 13th April 2016

Kenya: Two Geothermal Plants to Get Sh3 Billion Funding

The push for clean energy has received a major boost after a Sh3 billion ($29.65 million) concessional loan was approved to finance two geothermal power projects in Menengai with an estimated total output of 70 megawatts (MW). A clean energy fund, backed by six multilateral development banks will provide the loan. The Climate Investment Fund said the loan endorsed through its Clean Technology Fund component will help expand the.... Read more »

Posted on : Tuesday , 12th April 2016

Nigerian Govt, U.S. Firm Sign MOU for 500MW Power Plant

Asaba — Delta State Government on Thursday signed a Memorandum of Understanding (MoU) with an American company, Alpha Energy and Electric Inc., for the generation of 500 megawatts (MW) of electricity through public- private partnership. The MoU was signed on behalf of the state government by the Secretary to State Government (SSG), Mr. Festus Ovie Agas, witnessed by Governor Ifeanyi Okowa and some members of the state executive.... Read more »

Posted on : Saturday , 9th April 2016

SADC: First Phase of Regional Power Interconnector Project Nears Completion

The first phase of the 2 300 km regional power interconnector project that will link Zambia – Tanzania and Kenya (ZTK) power grids is expected to be completed by December this year in a development that is set to boost SADC power and the African Union’s thrust for continental integration. The Chinese development package is into 10 areas that include infrastructure projects, aid for drought-stricken countries and thousands of.... Read more »

Posted on : Friday , 8th April 2016

Nigeria: State Govt. to Commit N29.6 Billion On Power Supply, Agriculture

Kaduna — Kaduna State Government said it would commit over N29.6 billion on power supply, agriculture and rail transport. Gov. Nasiru El-Rufa'i who stated this on Wednesday in Kaduna at the opening of the Kaduna Economic and Investment Summit, said that part of the projects captured under the state's 2016 budget was the construction of a rail line for Kaduna metropolis which would gulp N10 billion. The governor said the.... Read more »

Posted on : Friday , 8th April 2016

Tanzania: Country's Electricity Grid To be Connected to Kenya, Zambia

Dar es Salaam — Tanzania is determined to complete two projects to connect the country's electricity grid to that of Kenya and Zambia by 2019. The projects-Iringa-Shinyanga (Backbone Transmission Investment Project) which will be interconnected with Kenya grid and the Iringa-Mbeya which will be connected to Zambia are scheduled for completion in 2018 and 2019, respectively. This would the country to trade power with neighbouring.... Read more »

Posted on : Saturday , 2nd April 2016

Nigeria: Construction of 550 Megawatts Power Plant to Begin in June

Handlers of the 550megawatts (mw) Independent Power Plant (IPP) in Ondo State said the construction activities will begin by June this year as the Nigerian Electricity Regulatory Commission (NERC) has issued a licence for it. The plant will be built and operated by the Ondo State Government and its partners, Kingline Development Company, a South Korean Company. Kingline Head of Nigeria Operations, Engr. Akinnola Fola who.... Read more »

Posted on : Tuesday , 29th March 2016

Nigeria: N6.06 Trillion Budget to Focus on Power, Housing, Transport

Abuja — This year's N6.06trillion budget as passed by the National Assembly (NASS) will pay strict attention to addressing perennial issues in power, housing and transport infrastructure, which got the lion's share of the capital votes. The total budget figure is, however, N17 billion less than the 6,077,680,000000 proposed on December 22, 2015 by President Muhammadu Buhari . A review of the sectoral allocations of the.... Read more »

Posted on : Saturday , 26th March 2016

Angola: U.S.$ 900 Million Invested in Soyo Combined Cycle Project

Luanda — The Angolan Government has invested about Usd 900 million in the Soyo Combined Cycle power project in northern Zaire province. The information was released Tuesday by the minister of Energy and Water, João Baptista Borges, who said the project will be complete in 2017. The project that involves several power substations and transportation lines will produce 750 MW, to meet a large part of the needs of the.... Read more »

Posted on : Thursday , 24th March 2016

Nigeria: President Targets 10,000MW of Electricity Generation

President Muhammadu Buhari on Monday said his administration has set a target of delivering 10,000 megawatts of electricity generation in the next three years. The president, who stated this while addressing the National Economic Council retreat held at the State House, Abuja, said this year alone the administration would add 2000 megawatts to the national grid. Mr. Buhari assumed office on May 29 last year. He said,.... Read more »

Posted on : Wednesday , 23rd March 2016

Floating Power Station Inaugurated in Mozambique

Maputo — The Mozambican and Zambian Presidents, Filipe Nyusi and Edgar Lungu, on Saturday inaugurated a floating power station in Nacala in the northern province of Nampula. The power station can generate 100 megawatts and can supply northern Mozambique and Zambia. The Turkish vessel containing the power station has been docked at Nacala port since 18 February. 110 kilovolt cables were connected, linking the ship to two.... Read more »

Posted on : Tuesday , 22nd March 2016

Kenya: Govt to Bring Investors Closer to Power Plants In Bid to Cut Costs

Kenya will set up investors near geothermal plants to cut the cost of electricity and offer subsidies in order to compete with her neighbours. Mr Mohamed said on Thursday that they will set up investors at the shores of Lake Naivasha near the geothermal power plant to cut transmission charges to make Kenya attractive. "We are going to set them up at Naivasha near the geothermal plant where power is much cheaper since it is.... Read more »

Posted on : Saturday , 19th March 2016