Market News| Africa Business News

China boosts electricity project in Africa with $800m

China has pledged to finance an electricity project in Ivory Coast with US$800m. The project involves the expansion of the country’s electrical grid with the aim of supplying electricity to 500 towns. Ivory Coast on its part is expected provide additional sum of US$41m towards the funding of the power project. The government will be responsible for the installation of the 1,955km of high-tension lines as well as the.... Read more »

Posted on : Thursday , 14th January 2016

Newly constructed AMERI power plant in Africa to start operations February

The newly constructed AMERI power plant in Ghana which will be an emergency power plant is expected to commence commercial operations by February 2016, Energy Commission Board Chairman Dr. Kwame Ampofo has announced. Accompanied by the Board Members of the Commission including Mr. Michael Opam, acting Executive Secretary, Dr. Rudith King, Mr. Stephen Duodu and Mr. Kobina Fosu, Mr Amopofo said the plant construction project during.... Read more »

Posted on : Thursday , 14th January 2016

Plans to implement nuclear build programme in Africa look promising

The department of energy has issued clarification to reports that the government and cabinet have made final the verdict to implement the nuclear build programme in South Africa. In a statement, the department said the move to go ahead developing the nuclear new build programme was initiated by the cabinet in June 2015 prompting South Africa to proceed with developing a programme for the procurement of nuclear power plants worth.... Read more »

Posted on : Monday , 11th January 2016

Rosatom to officially begin constructing nuclear power plant in Africa

Russia’s national nuclear corporation Rosatom will commence the construction of first nuclear power plant in Egypt after signing an agreement. In the contract signed, the construction of the power plant in Egypt will begin early 2016. According to the press release given by the company the construction of the nuclear power plant will commence in the first quarter of 2016. “The plan will be actualized after the contract.... Read more »

Posted on : Friday , 8th January 2016

East Africa: AfDB Approves $138m for Rusizi III Hydro Project

The African Development Bank (AfDB) has approved $138 million in loans and grants to finance the Rusizi III hydropower plant project. A statement from the AfDB indicates that the implementation of the project will be carried out at a total cost of $625.19 million. At least $138.88 million will be borne by the AfDB's public sector window and $50.22 million by the private sector window. Rusizi III hydropower plant is part of the.... Read more »

Posted on : Tuesday , 5th January 2016

Umeme Ltd nears completion of substation for Ugandan township

Uganda’s power utility company Umeme Limited is in the final stages of constructing a 40 MVA substation in the Namugongo township The new facility will help reduce losses during the distribution of power and also provide stable power around Namanve, Kireka, Namugongo and Kyaliwajjala areas. Project officials revealed that US$5mn was spent on constructing the power plant, while US$2mn was spent on feeder lines. Power from.... Read more »

Posted on : Tuesday , 29th December 2015

UK and USA sign MoU to aid Africa with power generation

K’s Energy Africa campaign and USA’s Power Africa initiative have decided to sign a partnership to aid Africa with power generation projects geothermal HaukurHerbertsson flickrHarnessing geothermal energy sources across Africa could help overcome electricity deficits. An MoU was signed between USA and UK at the United Nations Economic Commission for Africa (UNECA) and New Climate Economy event Climate Change in Africa:.... Read more »

Posted on : Monday , 28th December 2015

French Companies to Invest in Zimbabwe

A number of French investments are lined up for Zimbabwe in 2016 with power giant, Schneider Electric, expected to enter the Zimbabwean market, French Ambassador to Zimbabwe Laurent Delahousse has said. Delahousse told businessdigest in an exclusive interview this week that the firm, which already has a branch in South Africa , will open a branch in the country with a view to set up a manufacturing plant in the near.... Read more »

Posted on : Monday , 28th December 2015

AfDB Spends U.S.$1Billion On Energy Projects

The African Development Bank (AfDB) says it had devoted at least $1 billion to finance power and infrastructure projects in Africa this year alone. In October, the AfDB availed $428,43 million in loans and grants to finance projects in energy, infrastructure, transport and water and sanitation in eight African counties namely Zimbabwe, Guinea Bissau, Guinea, Senegal, Gambia and Côte d'Ivoire, Ghana and Tanzania. Of these.... Read more »

Posted on : Saturday , 26th December 2015

Energy firm concludes construction of gas-powered plant in Mozambique

The Gigawatt Mozambique power company says it has completed the construction of a gas-fired power station at Ressano Garcia, on the border with South Africa, with the initial capacity to generate 120 megawatts, APA can report on Thursday. The company’s managing director, Johan de Vos, said in a media statement emailed to APA that the power station was built in 18 months, on schedule, below budget and without any significant.... Read more »

Posted on : Thursday , 24th December 2015

Symbion Power Completes Deal for East African 50MW Power Plant

Symbion Power Lake Kivu Ltd, a subsidiary of American firm Symbion Power LLC has signed a 25-year power purchase agreement (PPA) with the Rwanda Energy Group (REG) for a 50 Megawatt (MW) methane gas to power project. The official signing involved Symbion Power CEO Paul Hinks, REG CEO Jean-Bosco Mugiraneza, and Minister of Infrastructure James Musoni. The seal sealed see an implementation activities including detailed.... Read more »

Posted on : Monday , 21st December 2015

Turkana Wind Power Supply Starts 2016

The Lake Turkana wind project will start generating power next year, Denmark Foreign Affairs minister Kristian Jensen said yesterday. The project, funded by the Danish government, will contribute 310 Megawatts of wind energy to the national grid. Jensen spoke at the World Trade Organization conference at KICC, Nairobi. The project will use 365 wind turbines, each with a capacity of 850KW. It will provide 17.... Read more »

Posted on : Saturday , 19th December 2015