Market News| Africa Business News

Paris Power Firm Comes Up With U.S.$2 Million Deal for Tanzania

Dar es Salaam — Energy Access Ventures (EAV), a Paris-based investment firm that backs entrepreneurial companies that bring access to electricity in sub-Saharan Africa, has announced its inaugural $2 million investment in Off-Grid Electric (OGE) which has offices in San Francisco, California (USA) and Arusha in Tanzania. OGE generates solar power and then distributes the electricity to rural households that are mostly far from the.... Read more »

Posted on : Monday , 30th November 2015

Investment decision on Africa�s Kudu power project mid-2016

A final investment decision is expected mid-2016 on Namibia’s Kudu gas-to-power project, which is expected to boost electricity security in the southwest African country power namibia DavidSeibold flickrOnce the power plant is built, it is expected to provide Namibia with 400MW of power. According to a senior official, the project, where costs have doubled to around US$2.3bn, will transfer gas from the offshore Kudu field to.... Read more »

Posted on : Monday , 30th November 2015

JCB Power Products acquires UK diesel genset producer

JCB Power Products has acquired the business and assets of diesel generator producer Broadcrown Ltd JCBpowerJCB Power Products offers a range of more than 200 generators ranging from eight to 3,300 kVA. The acquisition was to strengthen and extend the range of generators it has to offer, said the company. The new business is expected to function under the name JCB Broadcrown and products here on will be marketed as Broadcrown. The.... Read more »

Posted on : Monday , 30th November 2015

East Africa and CIF to spend US$50mn on clean energy projects

Rwanda, along with Climate Investment Funds (CIF), will work to provide access to electricity to around 70 per cent of its population by 2018 solarpanel bartspeelman flickrRwanda hopes to tap into a range of clean energy sources in order to supply power to its residents. The country is hoping to achieve this by tapping into a host of renewable energy sources, and bring up the access Rwandans have to electricity by 23 per cent from.... Read more »

Posted on : Monday , 30th November 2015

East Africa secures US$31mn fund to expand electricity grid

Seychelles has secured US$31mn in funding from Arab Bank for Economic Development in Africa (BADEA) and the Saudi Fund for Development to improve electricity network in the island nation seychelles grid saraj flickrThe 33kV transmission and distribution network will start at the Roche Caiman power station. The joint loan will be utilised by country’s Public Utilities Corporation (PUC) to build a 33kV transmission and.... Read more »

Posted on : Friday , 27th November 2015

Africa's renewable energy sector holds investment potential worth US$13bn

Egypt’s renewable energy sector has a potential opportunity of around US$13bn for private sector financing over the next five years, according to industry reports renewable egypt tomas74 pixabayThere are more than 4,000MW in renewable energy projects currently under development in Egypt, split between wind and solar. As the North African country’s installed power capacity is set to nearly double from 31 GW in 2013 to 60.... Read more »

Posted on : Friday , 27th November 2015

Bloomberg survey ranks Kenya sixth in green power generation

Kenya is now among top ten nations in regards to green power generation, a report released by Bloomberg New Energy Finance shows. The 2015 Climatescope Index ranks Kenya sixth out of 55 countries that are investing in wind, solar geothermal and other renewable power generation worth US$126bn of investments. Energy Regulatory Commission (ERC) also gave out a report that revealed that geothermal power consumption in.... Read more »

Posted on : Thursday , 26th November 2015

More hydro power stations in East Africa to be constructed

Plans to construct more hydro power stations in Uganda are in the pipeline in a bid to generate 2,550 MW aimed at boosting its goal to industrialize, the country’s president Yoweri Museveni has said. Museveni said that his government is on a campaign trail to industrialize the northern part of the country. “Northern Uganda is going to be the center of Uganda. We are going to turn and transform it to be an.... Read more »

Posted on : Wednesday , 25th November 2015

Siemens signs power plant construction deal with Africa

Siemens has penned down a power plant construction deal with Egypt to fund of the power project that they are set to construct in the country. The financial closure agreement with German industrial giant Siemens will see Orascom Construction, and El-Sewedy Electric fund the construction of three electricity production undertakings in Egypt. The long awaited function that will see Egypt’s power shortage cut short was.... Read more »

Posted on : Tuesday , 24th November 2015

Siemens signs power plant construction deal with Africa

Siemens has penned down a power plant construction deal with Egypt to fund of the power project that they are set to construct in the country. The financial closure agreement with German industrial giant Siemens will see Orascom Construction, and El-Sewedy Electric fund the construction of three electricity production undertakings in Egypt. The long awaited function that will see Egypt’s power shortage cut short was overseen by.... Read more »

Posted on : Monday , 23rd November 2015

Kenya: Cheap Renewable Energy Will Drive Kenya's Economy

The Kenya International Investment Conference is set to take place in Nairobi on November 23-25, showcasing investment opportunities. The country is already attracting a multitude of global investors and over the past 12 months, we have seen a rise in interest in the agribusiness, ICT, apparel and textiles, leather, renewable energy, property, tourism and logistics sectors. To further build on this interest, KIICO 2015 will.... Read more »

Posted on : Thursday , 19th November 2015

Zambia: K200 Million for Renewable Energy

Swedish Ambassador to Zambia Henrik Cederin has revealed that his country will invest up to K200 million towards implementation of renewable energy in Zambia. Mr Cederin said Sweden would invest in renewable sources of energy in a bid to mitigate the ongoing energy crisis not only in Zambia but the COMESA region as a whole. He was speaking in Lusaka yesterday when he presented his credentials to COMESA secretary general Sindiso.... Read more »

Posted on : Thursday , 19th November 2015