€20m raised from Bpifrance to finance public lighting in Benin

Mar 8, 2020

The Beninese government has just mobilized € 20.6 million in financing from the Bpifrance Investment Bank for the benefit of its electricity sector. The funds will be used for a public lighting project in several localities. The project, which will be implemented by the French energy specialist Fonroche Lighting, will involve 9 cities in the…

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AfDB provides $150m to electrify 250,000 households with solar

Mar 7, 2020

The Kenyan government has recently secured $150 million (over 15 billion Kenyan shillings) from the African Development Bank (AfDB). The funds will provide solar energy to 250,000 households in 14 counties. Over 150 million dollars (more than 15 billion Kenyan shillings) have been provided to the Kenyan government for the implementation of its off-grid electrification…

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Morocco pledges support for electricity projects in Southern Africa

Mar 7, 2020

Morocco is committed to sharing its expertise with African countries in the field of electricity, said the Director-General of Morocco’s National Office for Electricity and Drinking Water (ONEE), Abderrahim El Hafidi. The ONEE plays an active role in Morocco’s South-South cooperation policy, he affirmed. El Hafidi made the statement during a meeting with a delegation…

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IFC invests $200m in Standard Bank of South Africa’s green bond issuance

Mar 7, 2020

IFC, a member of the World Bank Group, invested $200 million in The Standard Bank of South Africa Limited’s green bond placed on the London Stock Exchange today. It’s Africa’s largest green bond and South Africa’s first offshore green bond issuance, which will increase access to climate finance. The 10-year green bond facility privately placed…

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BW Energy starts oil production from Tortue Phase 2, off Gabon

Mar 7, 2020

BW Energy has announced first oil from the Tortue Phase 2 field development project (Phase 2) in the Dussafu Marin Permit offshore Gabon. The Gamba well DTM-5H was successfully brought online as of 4 March, ahead of schedule. The second well, DTM-4H, is scheduled to come onstream in the coming week. Phase 2 consists of…

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Libyan oil output recovery could neutralize OPEC’s plans to cut deeper

Mar 7, 2020

OPEC and its allies will not just have oil demand concerns to digest when they meet in Vienna this week. They will also be closely following the situation in fellow member Libya, whose production has been almost decimated by the civil war in the country, where oil has increasingly been used as a weapon. The…

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AAIB partners with Future Energy to provide solar home kits in Egypt

Mar 7, 2020

The Arab-African International Bank (AAIB) has recently launched a programme to help individuals install solar kits in their homes. This financing programme is conducted in partnership with the company Future Energy. What is the best way to enable individuals to easily install solar home systems in Egypt? This is the main purpose of a financing…

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1.3MW solar off-grid hybrid power plant connected in Goma DRC

Mar 7, 2020

A 1.3MW solar off-grid hybrid plant has been put into operation in Goma, the capital of the North Kivu province in the Democratic Republic of Congo. Nuru company, the project developers inaugurated the plant. The mini hybrid solar power plant consists of 4,000 panels, each capable of producing 335W. They are linked together by solar…

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IFC mobilizes €303m for the new Atinkou gas power plant in Ivory Coast

Mar 7, 2020

The International Finance Corporation has just announced that it has mobilized a funding package of € 303 million for the new gas plant project underway in Côte d’Ivoire. It contributed € 91 million in equity. The rest of the funds have been mobilized from several entities, including the African Development Bank, the Dutch entrepreneurial development…

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$17m Gambia electricity access project launched

Mar 7, 2020

The Ministry of Finance and Economic Affairs in collaboration with National Water and Electricity Company (NAWEC) have launched a 17 million dollar electricity access project for the country to contribute to government efforts in achieving access to electricity by 2030. Funded by the African Development Bank (AfDB), the projects aims to provide sustainable energy to…

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