African News

Meridiam wins concession contract for 34MW Kinguele Dam in Gabon

Nov 14, 2019

In Gabon, Meridiam has just signed a concession contract for the Kinguele run-of-river hydropower plant. With a capacity of 34 MW, the infrastructure will be built on the Mbei River, 100 km from the capital Libreville. Upon completion, it will provide 13% of the electricity consumed in the capital. Its production will replace those of several thermal power…

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AfDB commits its capital increase to renewable energy

Nov 14, 2019

The President of the AfDB has recently stated that most of the funds resulting from the capital increase of the financial institution will be allocated to major electrification projects from renewable sources in Africa. The bank’s announcement comes at a time when the continent has the lowest electricity financing rate in the world: only 17%…

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Zimbabwe Cabinet approves MoU on renewable energy

Nov 14, 2019

Cabinet has approved a Memorandum of Understanding (MoU) between Zimbabwe and a global firm, Life Academy, on cooperation in the field of energy. The move will see the development modern and sustainable energy systems inclusive of all forms of renewable energy such as solar, wind, hydro, bio (including waste to energy) and geo-thermal. Renewable energy…

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Desert to Power Initiative takes central stage at Africa Investment Forum

Nov 14, 2019

The Desert to Power programme, initiated by the African Development Bank (AfDB) to provide electricity to 250 million people in the Sahel region, was the subject of a special session Tuesday at the Africa Investment Forum 2019, held in Johannesburg, South Africa. The panel session on Investing in the Sun: The Desert to Power Initiative was moderated by Wale Shonibare,…

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AfDB won’t finance the Lamu coal fired plant in Kenya

Nov 14, 2019

The African Development Bank (AfDB) has announced that it will not finance the Lamu coal project in Kenya or any other coal-fired power plant, Reuters reports . The AfDB “will not go further with the Lamu power plant transaction and is not planning to fund such projects in the future,” said Wale Shonibare, vice president of the energy bank. . With…

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Egypt ramps up Idku terminal LNG exports

Nov 14, 2019

Egypt has increased liquefied natural gas (LNG) exports from its Idku terminal to 1 billion cubic feet per day from 300 million cubic feet last month, Al-Borsa, a financial newspaper, reported on Tuesday. Egypt became self-sufficient in natural gas in late 2018 and is seeking to become a regional energy trading hub by liquefying gas…

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FAR announces financing update for SNE field development off Senegal

Nov 14, 2019

FAR Limited has previously indicated that it has a broad range of financing options for the development of the SNE field under investigation. In anticipation, FAR has for some time been seeking the best debt financing solution for the Company. As previously advised, there are a range of possible financing methods available for consideration,but we have…

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Tullow Oil slashes oil output, cash forecast for 2019 as Ghana problems remain

Nov 14, 2019

Africa-focussed Tullow Oil on Wednesday cut its 2019 oil production and free cash flow forecast for the year because of ongoing problems at its Ghana fields, sending its shares 14% lower. Tullow has been struggling with its operations in Ghana due to mechanical issues at its Jubilee field and a delay in completing a well…

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Burkina Faso based scientist uses mangoes to produce biogas

Nov 14, 2019

Dieudonné Ouédrogo is a student researcher at Joseph Kizerbo University. From the depths of his laboratory, he has developed a technique that makes it possible to produce biogas from mango waste. A discovery that makes the young doctoral student proud in the exact sciences, option renewable energies. Biogas from mangoes is the winning formula that…

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IFC signs agreement with Ivory Coast for two solar power plants

Nov 14, 2019

An agreement was recently signed between the government of Ivory Coast and the International Finance Corporation (IFC), a subsidiary of the World Bank in charge of private sector financing. It concerns the implementation of two solar photovoltaic projects. Two solar photovoltaic power plants will soon be built in Ivory Coast. They will be located near…

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