Market News| Africa Business News

Turkish Company to construct a US$ 400m peat-fired power plant in East Africa

A US$ 400m peat-fired power plant is set to be constructed in Southern Rwanda by a Turkish company, Hakan Mining and Generation Industry and Trade Inc. The 80MW power plant is under a power purchase agreement (PPA) signed by the Rwandan government. The agreement gives them the go ahead to design, finance, build, own and operate the plant using peat extracted from south Akanyaru in Gisagara District. Hakan’s.... Read more »

Posted on : Wednesday , 24th February 2016

Tanzania & Uganda exploring Geothermal Projects to Plug Power Deficit

Uganda and Tanzania are set to begin generating electricity from geothermal resources to plug the supply deficit. In East Africa, Kenya is leading in power generation using underground steam. Green Impact Development Services (GIDS) is carrying out exploration and evaluation of geothermal resources with aim of developing a 100MW power plant at Buranga in western Uganda. The Tanzania Geothermal Development Company.... Read more »

Posted on : Wednesday , 24th February 2016

120 MW gas fired power station unveiled in Mozambique

Mozambique President Filipe Nyusi has officially inaugurated the 120 MW Gigawatt Park gas fired power station, in Ressano Garcia. The project was developed by Gigajoule International, a South African investment group and majority shareholder in the project and took 18 months to complete. The plant’s 13 generators of 9.3 MW each were manufactured by multinational corporation ABB and powered by Rolls-Royce engines..... Read more »

Posted on : Tuesday , 23rd February 2016

Japanese firm to construct Thermal power plant in Mozambique

Sumitomo Corporation, a Japan based firm is set to construct a thermal power power plant in Mozambique with future expansion plans in neighbouring Tanzania. Sumitomo aims to expand its power generation business in the African continent and has partnered with heavy industry group IHI on a $149 million order from Mozambique’s state-run electric utility for a natural-gas-fired plant to be built near the capital.... Read more »

Posted on : Monday , 22nd February 2016

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