Alternative Energy

AfDB to finance hydro power plants in Gabon

Jan 11, 2019

The AfDB and GPC-ERANOVE Consortium signed a LoI for the financing of Gabon’s Ngoulmendjim and Dibwangui hydropower plants. The hydropower plants will have a capacity of 73 MW and 15 MW, respectively. Following a call for expressions of interest, the AfDB confirmed its intention to act as co-arranger and co-lender, up to €160 million. The…

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Sumitomo invests in Kenyan firm M-KOPA

Jan 10, 2019

Japanese firm, Sumitomo Corp., has invested in M-KOPA Holdings Limited. M-KOPA empowers homes and small businesses through an advanced pay-as-you-go platform – unlocking solar, information, technology, finance and opportunity for millions of people. Through this investment, Sumitomo aims to launch a new business related to distributed power sources and contribute to improving the living standards…

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GCF set to fund mini-grids in Burkina Faso

Jan 10, 2019

The Green Climate Fund (GCF) will provide €24.3 million to the Burkina Faso’s Yeleen Rural Electrification Project. The project aims to bring clean energy to 100 villages through the installation of solar mini-grids in rural areas. The assistance will be provided as capital grants to selected bidders for each successful electricity connection. This project will…

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ElectriFI, REDAVIA sign $2m solar finance deal in Ghana

Jan 9, 2019

The Electrification Financing Initiative (ElectriFI) has entered into a USD-2-million (EUR 1.74m) financing agreement with solar firm REDAVIA to support the latter’s expansion in Ghana’s commercial and industrial (C&I) sector. This investment will aid the development of some 15 MWp of photovoltaic (PV) arrays for C&I off-takers such as educational institutions, agro-foods processing and manufacturing…

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Kenyan govt seeks to install solar PV plants

Jan 9, 2019

The government of Kenya has received a credit from the International Development Association (IDA) and grants under Scaling Up Renewable Energy in low income countries under the Strategic Climate Fund Grant towards the cost of Kenya Electricity Modernisation Project (KEMP). It is intended that part of the proceeds of this credit and SREP grants will…

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Romainville Island solar park set to save Seychelles $1m

Jan 9, 2019

The solar park located on Romainville Island in the Seychelles is set to save the government revenue that would otherwise be spent on the import of petroleum products. The solar park will save the country $1 million a year in energy expenses. According to Laurent Sam, the energy engineer of the Public Utilities Company (PUC),…

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Ugandan solar power park to be connected to grid

Jan 9, 2019

UK-based energy solutions provider, Great Lakes Africa Energy (GLAE), announced the completion of the development of the 24MW Kabulasoke solar power park in Uganda. According to the Capital FM, GLAE has been acting as the lead financial and technical investor and forms part of the consortium comprising Uganda’s Xsabo Power Limited. The solar power project…

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Kenya Nuclear Electricity Board begins evaluation of nuclear sites

Jan 8, 2019

The Kenya Nuclear Electricity Board is currently conducting a screening exercise for potential sites identified for the development of nuclear power plants in the East African country. According to the Daily Nation, Lake Victoria, Lake Turkana and the Indian Ocean have been earmarked as potential sites due to their sustainable water sources. The CEO Collins…

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Tanzania’s NEMC supports Stiegler’s Gorge hydro power project

Jan 7, 2019

The National Environmental Management Council at the weekend okayed the government’s commitment to construct a mega hydroelectric dam at the Stiegler’s Gorge, reiterating that it will have no adverse impact on the local ecology. The new director general of the government’s environmental watchdog, Dr Samuel Gwamaka, said that implementation of the hydroelectric power project will…

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AfDB approves $149m credit risk participation for renewables, others

Jan 7, 2019

The Board of Directors of the African Development Fund (ADF), the concessional window of the African Development Bank Group, have approved a credit risk participation by the Private Sector Credit Enhancement Facility (PSF) in seven loans cumulatively valued at $149 million. The seven operations include senior loans targeting renewable energy and agroindustry sectors in Uganda,…

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