Market News| Africa Business News

Kenya Power Gets $190m Loan To Boost Local Energy Supply

Kenya Power and Lighting Company (KPLC) has secured a $190 million loan from Standard Chartered Bank to boost production as it seeks to meet the power demands of East Africa’s largest economy. The loan will be used to upgrade the company’s transmission network to support the country’s ageing grid. “Kenya Power will use the funds to make huge investments in acquisition of additional transformers and.... Read more »

Posted on : Thursday , 20th November 2014

Tanzania: Over 1,000 to Access Power in Mbinga Next Year

MORE than 1,100 people in Mbinga district, Ruvuma region, will be connected with electricity next year through the Rural Energy Agency (REA), Parliament was told on Tuesday. This was said by Deputy Minister for Energy and Minerals, Charles Kitwanga, when responding to a question raised by Gaudence Kayombo (Mbinga North - CCM) who wanted to know about government plans to distribute electricity in all villages in Mbinga.... Read more »

Posted on : Wednesday , 12th November 2014

Dangote seeks license to build a coal power plant in Tanzania

Africa’s richest man Aliko Dangote is seeking to be awarded a license for a 75 megawatt (MW) coal power plant in Tanzania. Energy from the coal power plant will be used to power up the US$ 500m cement factory that is currently under construction in Mtwara Tanzania. The plant will also power the residential and commercial development complex around the factory. This is due to the fact that interruption of power supply or.... Read more »

Posted on : Monday , 10th November 2014

KEPCO to build a nuclear power plant in Egypt

Korea Electric Power Corporation (KEPCO) has announced that South Korea has signed an MOU with Arab Contractors, the number one builders in Egypt’s construction industry, for the exporting of Korean nuclear power plant to Egypt. The Egyptian government plans to give public notice of an international bid for building a second new nuclear power plant at El-Dabaa early 2015. The MOU with the Arab Contractors therefore gives KEPCO a.... Read more »

Posted on : Monday , 10th November 2014

Tullow withdraws from Namibia Kudu gas power project

Tullow has withdrawn from its full participation in the much-eyed Kudu gas-to-power project which is under development in Namibia. According to Namibia’s Mines and Energy Minister Isak Katali, the government has been informed by Nampa of the UK-based company’s withdrawal from the project due to financial problems. Located 130 kilometres offshore of Namibia’s south-west coast, Kudu gas-to-power project is co-owned.... Read more »

Posted on : Friday , 7th November 2014

US$145m wind power farm project in Nyandarua-Kenya receives green light

The US$145m wind power project in Nyandarua County has received a green light from the political class and area residents to have it go ahead. The project is expected to add 61MW of electricity to the national grid. Funded by various foreign investors, the project is being undertaken by Kinangop Wind Park Ltd which is a Kenyan energy company. It had initially stalled as investors, politicians and land owners had disagreed on its.... Read more »

Posted on : Wednesday , 5th November 2014

Kenyan Cement Maker To Build $19m Coal Power Plant

Kenya’s National Cement, a member of the Devki Group of Companies plans to build a Sh1.7 billion ($19 million) coal-fired power plant to feed its clinker manufacturing and limestone mining operation in Kajiado, 80 kilometres south of the country’s capital Nairobi. The power plant will produce 15 megawatt of electricity and is seen as a better alternative to the expensive national grid. “The cost of.... Read more »

Posted on : Tuesday , 4th November 2014

SunPower Announces 160-Megawatt Solar Panel Manufacturing Facility in South Africa

SAN JOSE, Calif. and CAPE TOWN, South Africa, Nov. 4, 2014 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWR), a leading solar technology and energy services provider, today announced plans to own and operate a solar panel manufacturing facility in Cape Town, South Africa, to meet the growing demand for solar in that region. At this new plant, SunPower will manufacture its high efficiency SunPower E20/440 Solar Panels and.... Read more »

Posted on : Tuesday , 4th November 2014

Tanzania Mulls Investing in Geothermal Power

TANZANIA is looking into investing heavily in renewable energy, especially geothermal power on that the rock originated heat energy happens to be both cost-effective and greener for the environment. Speaking in Arusha, Assistant Commissioner for Renewable Energy in the Ministry of Energy and Minerals, Mr Edward Ishengoma, revealed during the official opening of a two-day geothermal training that renewable energy was currently the.... Read more »

Posted on : Wednesday , 29th October 2014

Tanzania: Life Changes for the Better As Msolwa Village Gets Electricity

To realise these targets, the country requires adequate, reliable, affordable and environmentally friendly electricity supply. According to REA Director General, Eng Lutengano Mwakahesya, the rural residents get connected by paying 27,000/- only and that the low cost is aimed at encouraging more people to access the power service and that the income is injected into Rural Energy Fund (REF). Minimising the costs.... Read more »

Posted on : Wednesday , 29th October 2014

Mainstream to acquire Ghana's first utility-scale wind farm

Mainstream Renewable Power has entered into a US$ 525m deal with Swiss wind farm developer, NEK Umwelttechnik that will see it purchase the 225MW Ayitepa Wind Farm, Ghana’s first utility-scale wind farm. The agreement is expected to reach a financial close next year, while the wind farm will start generating power by 2016. The two companies will, in the meantime, co-develop the facility until the financial close is reached..... Read more »

Posted on : Friday , 31st October 2014

Nigeria's new gas power plant in Ajaokuta is underway

Federal government has reached a memorandum of understanding with 3D Hitech System Ltd for construction of a gas power plant in Ajaokuta. It has also reached an MOU with T SEPCOIII Electric Power Construction Corporation and the CGC Nigeria Ltd for additional investment in power distribution and transmission in the country. 3D Hitech has already carried test running of the 110MW of gas power system, which will be commissioned in.... Read more »

Posted on : Friday , 31st October 2014