Market News| Africa Business News

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

Mariental to Get 35MW Solar Power Station

THE Ministry of Mines and Energy has awarded a tender to construct a 35MW solar photovoltaic power station near Mariental to Alten Renewable Hardap, minister Obeth Kandjoze said this week. Last year, the ministry issued a tender for the construction, operation and owning of solar PV power plants in the country. "Following a competitive bidding process, an independent power producer consortium, Alten Renewable Hardap.... Read more »

Posted on : Thursday , 17th December 2015

Toshiba signs first MoU with TGDC for geothermal power generation

Japanese multinational Toshiba Corporation has concluded an MoU with the Tanzania Geothermal Development Company Limited (TGDC) to develop geothermal power in the East African nation geothermal simon pixabayTanzania has vast reserves of untapped geothermal energy, which Toshiba hopes to capitalise on. TDGC is the only organisation in Tanzania with geothermal exploitation rights, said Toshiba in a statement. The company’s.... Read more »

Posted on : Thursday , 17th December 2015

Kenya Power to Spend Sh6b on Expansion of Electricity Distribution Network

Kenya Power and Lighting Company has secured a Sh6 billion loan from the French Agency for Development (AFD) to finance expansion of the electricity distribution network. The expansion, which will take place in Mombasa, Kisumu and Nairobi, is expected to boost KPLC's reliability and translate into reduced power outages. "The financing, the first of its kind, is a clear indication that Kenya Power has come of age to.... Read more »

Posted on : Wednesday , 16th December 2015