Market News| Africa Business News

Funding for Egypt's energy sector by African Development Bank hits $1.2bn

African Development Bank (ADB) has allocated finances estimated at US$1.2 billion to enhance Egyptian energy sector, Khaled El-Askari -principal energy officer at ADB- told Amwal Al Ghad Thursday. He stated that the bank is studying participating with US$100-200 million to finance establishing the power plant in Beheira governorate. On Wednesday, the Egyptian Cabinet endorsed the draft of President Abdel Fattah al-Sisi's decree.... Read more »

Posted on : Saturday , 20th February 2016

East Africa: Renaissance dam to be a souce of Energy once it meets the finish line

Ethiopia has announced that it will continue with the construction of the Renaissance Dam to its completion. The country’s minister of Water, Irrigation and Energy, Motuma Mekasa has told the media that there is no reason to halt the construction of the dam. Mekasa denied accusations that Ethiopia was derailing talks on the dam construction. He added that the delay on talks were due to differences that exist among the three.... Read more »

Posted on : Wednesday , 17th February 2016

Wind energy in Africa surges above1GW

A new report by Global Wind Energy Council (GWEC) shows a capacity increase in installed wind energy in South Africa to above 1 GW last year.Wind energy in South Africa This makes South Africa the largest producer of wind energy, followed by Morocco whose installed capacity stood at 787 MW in 201. Wind growth in South Africa has largely been inspired by Renewable Energy Independent Power Producer Procurement Programme, a.... Read more »

Posted on : Tuesday , 16th February 2016

Geothermal energy in Kenya boosts its export to Tanzania,Uganda

Electricity Utility firm Kenya Power which owns and operates most of the electricity transmission and distribution system in Kenya has announced that it has almost doubled its electricity exports to Uganda and Tanzania since it increased generation of geothermal energy in Kenya national grid. Official data reveals that the electricity distributor sold 46.6 million units (kilowatt hours) to the two countries last year, up from 26.9.... Read more »

Posted on : Monday , 15th February 2016

Obama signs Power Africa initiative into law

President Barrack Obama has signed into law the Power Africa deal a move aimed at expanding electricity to millions of households in sub-Saharan Africa. This measure has been widely supported as it is a game-changer in saving lives and accelerating growth on the continent. The Electrify Africa Act leverages partnerships with the private sector in order to bring first-time electricity access to about 50 million people who live in.... Read more »

Posted on : Thursday , 11th February 2016

African Manufacturers to generate 13,223.67MW of power

About 13,223.67MW of power will be generated by the Nigerian manufacturers. This is according to Deutsche Zusammenarbeit (GZ) and the Nigerian Energy Support Programme. According to the survey report titled Survey of Power Demand and Energy Consumption in the Industrial Sector in Nigeria, manufacturers alone have the capacity to produce such enormous MW electricity. The report had been presented in Lagos and funded by the European.... Read more »

Posted on : Wednesday , 10th February 2016

US firm adds 29MW geothermal power to Kenya�s grid

A US firm Ormat Technologies has injected 29MW of geothermal power to Kenya’s grid within Olkaria III complex increasing its total capacity to 139MW. Ormat CEO, Isaac Angel confirmed the reports and said that it had reached the commercial operation phase of plant 4 with Kenya Power under a 20-year power purchase agreement which adds 29MW of geothermal power for Kenyans. “With the commissioning of plant.... Read more »

Posted on : Wednesday , 10th February 2016

China to Construct hydroelectric power stations in Africa

The Gezhouba Group Corporation (CGGC), a Chinese base company specializing in the construction of hydroelectric power stations plans to construct two hydroelectric power stations in Gabon. Besides constructing 3 Gorges Dam in China, the power company is renowned corporation for constructing the largest hydroelectric dam in the world in terms of production capacity The Chinese firm delegation have already met up with.... Read more »

Posted on : Monday , 8th February 2016

East Africa Near to Exporting Power

East Africa wants to become a leading electricity exporter in Africa after reaching initial agreements with several neighbouring countries writes JOHN SAMBO. Gosaye Mengistie Abayneh, the CEO of Ethiopian Electric Utility (EEU) said recently, "Our vision is to interconnect the entire network in the African continent and beyond. "This is a very good opportunity for us. There is a very good know-how these days and a.... Read more »

Posted on : Thursday , 4th February 2016

Phoenix Energy to construct mega solar power plant in Africa

One of the leading Lebanese energy companies Phoenix Energy is now set to construct one of the largest solar power plant in Egypt after clinching a contract for the same. According to the officials from the Lebanese firm, the project will be constructed near Luxor and Aswan region in the country. According to the officials, the project is expected to be one of the biggest in Egypt. Phoenix Energy will install over 200,000.... Read more »

Posted on : Wednesday , 3rd February 2016

US firm to plan for power supply in Mutli-million dollar Tatu City in Kenya

A multi-million satellite complex Tatu City in Kenya , has announced that it had appointed US-based firm Power Engineers Inc to plan on power infrastructure for use within the industrial complex. Power Engineers is one of the largest consulting engineering firms in the United States Tatu City in Kenya management said that The Power Engineers Inc is well suited for the job having worked with clients such as the World Bank,.... Read more »

Posted on : Saturday , 30th January 2016

International Power firm to construct 10 MW PV solar plant in Africa

An international power firm has announced plans to construct a 10 MW solar plant in Gambia a move that will boost electricity supply in the country. Emerging Power Ghana Limited has already signed a 25-year power purchase deal with Gambia’s National Water & Electricity Company (NAWEC). Yasser Gamil, Emerging Power (Gambia) Ltd.,MD signed the agreement on behalf of the company while the National Water & Electricity.... Read more »

Posted on : Friday , 29th January 2016