African News

Uganda to sanction power distributor

Jan 16, 2019

Uganda aims to impose financial penalties from March, on its sole power distributor, Umeme Limited, for any frequent and prolonged supply outages, the regulator said. The public has long complained about high tariffs and long power cuts, while unreliable supplies add extra costs to businesses, which often run costly stand-by generators to keep operations going…

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South Africa aiming to finalise long-term energy plan next month – Minister

Jan 16, 2019

South Africa is aiming to finalise a long-term plan for the country’s energy mix next month, and once that is done it will launch another round of renewable energy deals, Energy Minister Jeff Radebe said on Wednesday. “We are aiming for February,” Radebe told Reuters, when asked when the Integrated Resource Plan (IRP) would be…

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Eskom elaborates on its request for 15% increase in tariff

Jan 16, 2019

On Monday, Eskom shared the rationale for its average annual electricity increase application of 15% for three years under the fourth Multi-Year Price Determination (MYPD4) and Regulatory Clearing Account (RCA) balance application for 2018 made to the National Energy Regulator of South Africa (NERSA). Eskom’s executives presented their case to stakeholders attending the Cape Town…

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Tlou Energy announces recommencement of drilling at the Lesedi CBM project, Botswana

Jan 15, 2019

Tlou Energy, the ASX, AIM and BSE listed company focused on developing gas-to-power projects in southern Africa using coal bed methane (‘CBM’) natural gas from its gas field in Botswana, has announced that the Company’s operational team has recommenced Production Pod drilling at its advanced stage Lesedi CBM project. Key Points: Drilling of lateral wells at…

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Off-grid solar platform BBOXX receives $31m AIIM cash boost

Jan 15, 2019

Off-grid solar power provider BBOXX has secured a USD-31-million (EUR 27m) investment from the Africa Infrastructure Investment Managers (AIIM) fund that will enable it to install two million solar systems in Africa by 2022. The investment, made through the AIIF3 fund, will give Africa’s largest infrastructure-focused private equity fund manager a minority stake in the…

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KenolKobil board okays takeover by French firm Rubis Energie

Jan 15, 2019

The board of NSE-listed oil marketer KenolKobil has endorsed the proposed takeover of the firm by French company Rubis Energie. Following the approval by the board, shareholders have until February 18 to accept or reject the offer. “After deliberations and on the basis of independent financial advice, the directors (of KenolKobil) are recommending to the…

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Libya’s GECOL says third turbine of Ruwais power plant back to service

Jan 14, 2019

The General Electricity Company of Libya (GECOL) confirmed the return of the third unit at Ruwais power station to service after a suspension that lasted for hours. “Around 140 MW of generation was restored to the public network after the maintenance of the stalled unit at Ruwais station, located in the Municipality of Hawamd,” GECOL…

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Ghana could benefit from a third Power Compact – MiDA

Jan 14, 2019

The chief executive officer (CEO) of the Millennium Development Authority (MiDA), Martin Eson-Benjamin recently announced that Ghana has been nominated for a third Power Compact under the Millennium Challenge Account (MCA) alongside Burkina Faso, Ivory Coast, Benin and Niger. Eson-Benjamin underlined that Ghana only stands a good chance of being selected, if the country successfully…

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IRENA/ADFD project facility backs West Africa’s renewables drive

Jan 14, 2019

Abu Dhabi Fund for Development (ADFD) and the International Renewable Energy Agency (IRENA) have announced the selection of renewable energy projects in three West African regions to receive funding from the ADFD. Guyana, Liberia and Togo have been selected to receive these funds as part of the sixth cycle of the IRENA/ADFD Project Facility. With ADFD…

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PCM Capital Partners exits Petro Ivoire

Jan 14, 2019

PCM Capital Partners (PCP), managers of the West Africa Emerging Growth Fund (WAEMGF), has announced the Fund’s exit from its investment in Petro Ivoire, a downstream oil and gas sector player in Côte d’Ivoire. This exit, the first from the WAEMGF portfolio, was structured as a Leveraged Management Buy Out (LMBO) transaction led by Vantage…

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