Market News| Africa Business News

Huge Investment On Green Energy Attracts FDI in East Africa

Ethiopia is hugely investing in energy especially in renewable energy which enables the country to be the leading manufacturing hub and power exporter in Africa. Chairman of the Executive Board for 2016 World Energy Congress has said Ethiopia's drive towards building environment friendly energy is a pulling factor for more FDI. Board Chairman Assistant Professor Hassan Mura Mercan, who is also Turkish Deputy Minister of.... Read more »

Posted on : Thursday , 19th November 2015

Construction of nuclear power Plants in Africa to proceed

The government will continue with the construction of nuclear power plants in South Africa, Head of Nuclear Energy Corporation (Necsa), Phumzile Tshelane, has said. Tshelane indicated that they had the two options of coal and nuclear to increase their power supplies as other methods were not ad good given the climatic changes. South Africa had already signed nuclear agreements with Russia, China, France the US,.... Read more »

Posted on : Thursday , 19th November 2015

Construction begins on one of the largest gas power plant in Africa

Ghana has begun the construction of what it says will be the largest gas-fired power plant in sub-Saharan Africa to take advantage of the country’s rich reserves of natural gas. The gas power plant in Ghana, developed by Cummins Cogeneration Limited and WUTA Energy, will generate 300mw of power when completed. The first 140mw phase will be connected to the Ghanian Grid next year. The mega gas power plant in Ghana.... Read more »

Posted on : Thursday , 19th November 2015

France boosts energy efficiency in East Africa

The French Development Agency (AFD) under the SUNREF programme has pledged to help in boosting energy efficiency in Uganda, the country’s Commissioner for Energy James Banabe has said. AFD which seeks to finance green projects, has earmarked $13 million to fund companies looking to implement energy efficiency in Uganda by financing equipment and measures. He said that approximately 64% of the electricity.... Read more »

Posted on : Thursday , 19th November 2015

East Africa: Rusumo Power Project Draws 20 Firms

Twenty firms have been prequalified to bid for the construction of the regional Rusumo Falls Hydroelectric Project, which is expected to add 80MW to the Rwanda, Burundi and Tanzania power grids by 2019. The current electricity generation in the region cannot meet the increasing industrial and domestic demand, with governments using heavy diesel generators, thus pushing up power tariffs. The project has attracted six Chinese.... Read more »

Posted on : Monday , 16th November 2015

Rwanda: Fresh Boost for Renewable Energy Bid

The Climate Investment Funds (CIF), a multilateral climate finance vehicle, has endorsed Rwanda's renewable energy investment plans, making the country eligible to benefit from $50 million (about Rwf37 billion) for renewable energy funding. The funds are provided under the Scaling Up Renewable Energy in Low Income Countries Programme (SREP). SREP funding of $50 million is expected to help develop financially sustainable.... Read more »

Posted on : Monday , 16th November 2015

Construction of hydropower plants in East Africa gets financial support

Afritech Energy (AE) and East African Power have signed a US$ 40m agreement that will see the construction of four hydropower plants in Rwanda. The agreement will involve construction of four hydropower sites in Bihongora, Karambo II, Gatare Sebeya and Muregeya. Other two projects will be in Rustiro and two more in Rubavu. Executive Chairman of Afritech Dan Klinck was present in Kigali during the press conference and said.... Read more »

Posted on : Wednesday , 11th November 2015

European Bank to fund renewable energy in Africa

The European Bank for Reconstruction and Development (EBRD) will now focus on financing renewable energy in Middle East and North Africa, its director Philip ter Woort, has announced. The European Bank believes that the move will enable the Middle East and North Africa region to curb the current power shortage that is slowing economic progress in the region.. The EBRD and other financial institutions will launch a funding.... Read more »

Posted on : Tuesday , 10th November 2015

Nyagak III Small Hydro Power Project in East Africa to be constructed

The construction of Nyagak III Small Hydro Power Project in Uganda is set to commence soon, this is after the Ugandan Government and a German firm signed a US$ a 1.8m agreement. The agreement which was signed by Uganda Electricity Generation Company Limited (UEGCL) on behalf of the government took place at the UEGCL offices in Nakasero. The German firm GOPA-International Energy Consultants GmbH together with an Italian based.... Read more »

Posted on : Tuesday , 10th November 2015

Lekela Power signs MoU for construction of wind power plant in Africa

Lekeka Power has signed a memorandum of Understanding for the construction of a wind power plant in Egypt. Actis Fund and Lekela Power signed the MoU in the presence of President Abdel Fattah Al-Sisi. Actis Fund also discussed future investment activities with the Egyptian Electricity Transmission Company (EETC). Lekela Power signed a Memorandum of Understanding (MoU) for a $350m wind-power station in Egypt.... Read more »

Posted on : Monday , 9th November 2015

SIEMENS TO BUILD 1000KM KENYA-ETHIOPIA POWER LINE

A consortium led by the German engineering group Siemens has won a contract to build a 1,000 kilometres high voltage power line linking Kenya and Ethiopia. The firm will partner with Spain’s Isolux Corsan to put up the line that will transmit 2,000 megawatts (Mw) hydropower from Ethiopia. The high-voltage direct current (HVDC) transmission link is scheduled to go into operation by end 2018.“Development of energy.... Read more »

Posted on : Saturday , 7th November 2015

Construction of wind power projects in Africa receives AfDB support

The construction of wind power projects in Egypt has received a major boost after African Development Bank (AfDB) agreed to extend a loan of US$50 towards the projects. The project will be constructed by Egyptian-Emirati company. AFDB says it will finance Egypt’s share in the first Egyptian-Emirati project to generate electricity from wind power. The loan will be given to New and Renewable Energy Authority (NREA) that.... Read more »

Posted on : Friday , 6th November 2015