New analysis finds G20 countries are investing heavily in fossil gas in direct contradiction with Paris Agreement goals they have agreed to, according to a report titled ‘Debunked: The G20 Clean Gas Myth’. The report finds that G20 countries, in the absence of new policies, are set to see investment of over $1.6 trillion in new gas…
Details With financial backing from the U.S. government, solar developer Gigawatt Global Cooperatief UA signed a deal with the 15-nation Economic Community of West African States to build $1 billion of renewable energy projects in the region. The U.S. is supporting the project through its Power Africa initiative set up in 2013 under President Barack Obama’s administration, a…
DetailsThe multi-asset Africa-focused energy and resource company, Kibo Mining has signed a Joint Venture Agreement (the Benga Power JV) with Mozambique energy company Termoeléctrica de Benga S.A. (Termoeléctrica) to construct and operate a 150-300MW coal-fired power station. The JV will participate in the further assessment and potential development of the Benga Independent Power Project (BIPP).…
Details Africa’s second most populous country Ethiopia, has set an ambitious target to double the length of its roads network by 2020 from its extent in 2015.This is according to the government’s road authority . In 2015, at the end of GTP-I, the road network had reached 100,000km. Now the network stands at 121,171km, according to…
Details enya wants electricity producers to sign Power Purchase Agreements, PPA in local currency in bid to shield consumers from sudden spikes in prices when the shilling depreciates against major global currencies. A study commissioned by the Ministry of Energy suggests that all power producers setting up new plants with a capacity of 10MW to sign…
Details Kenya has been ranked 9th globally in geothermal power generating capacity and leads in Africa with a generating capacity of 700MW according to the Renewable Global Status 2018 beating the famous technological heavyweight Japan who took position ten in the rankings with an output of 500MW. The status report highlights growing investments in Kenya’s renewable…
Details The aim is to raise an additional 1 billion crowns in the autumn and to use some of the funds for projects. Denmark and six pension funds on Thursday launched a 4.1 billion crowns (483.85 million pounds) investment fund aimed at promoting Danish technology and fighting poverty and climate change in developing countries. The aim…
Details Ethiopia is opening the state-owned telecommunications company and airline to foreign investors for the first time, a move that indicates new Prime Minister Abiy Ahmed is more receptive to outside interests in Africa’s second-most populous nation. Ethiopia will sell minority stakes to foreign and domestic investors in state monopolies such as Ethio Telecom and Ethiopian…
Details MTN launched a mobile money-based Initial Public Offering in Ghana. It is the first time shares of a major corporation can be purchased using mobile money accounts. Ghanaians will be able to buy shares using Momo Wallet, MTN’s local mobile money platform with 6.2 million users. With this, MTN Ghana hopes to raise about $743…
Details Namibia’s minister of mines and energy Tom Alweendo has underlined the need for government and private sector to collaborate in order to address socio-economic development challenges. Alweendo said this when he launched the B2Gold Otjiko Solar Farm in the Otjozondjupa region. The solar plant will serve as a sustainable power solution as B2Gold works to…
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