AfrElec - Africa Power Monitor

Global investors turn to green energy and away from fossil fuels

The world’s largest global debt and equity investors are continuing to invest in renewable energy despite the pandemic, driven by the wealth of investment opportunities, the Institute for Energy Economics and Financial Analysis (IEEFA) said.

APGC calls on NNPC to supply gas to Nigerian gencos

The Association of Power Generation Companies (APGC), a Nigerian industry association, has urged NNPC to assume responsibility for supplying fuel to natural-gas fired thermal power plants (TPPs).

AFRELEC: Hwange expansion makes solid progress

Zimbabwe’s Chinese-funded $1.5bn expansion to the Hwange coal-fired power station is now 68% complete, despite delays caused by the COVID-19 pandemic.

Eni discusses green, blue hydrogen production in North Africa

Representatives of Italy’s Eni met with Egyptian and Algerian officials last week to discuss the prospects for green and blue hydrogen production.

AfDB to fund Gabon hydro project to the tune of €39mn

The board of directors of the African Development Bank Group (AfDB) have approved a €39mn loan package for the construction of the Kinguélé Aval hydroelectric project in Gabon.

UN Security Council set to vote on Africa’s GERD dispute

Tunisia has tabled a five-point draft resolution to the UN Security Council that calls for Ethiopia to end the second filling of the reservoir at the Grand Ethiopian Renaissance Dam (GERD).

AfDB approves $6mn grant to boost West Africa’s Desert-to-Power programme

The African Development Bank has approved a $6mn grant to launch the initial phase of the Desert-to-Power West Africa Regional Energy Programme.

InfraCo Africa, RVE.SOL to build 22 solar mini-grids in Kenya

InfraCo Africa is to invest $4.2mn in Kenya solar developer Rural Village Energy Solutions’ (RVE.SOL) plans to develop 22 solar mini-grids as part of wider efforts to boost rural electrification.

REM: BlackRock raises $250mn to fund climate transition in emerging markets

BlackRock has raised $250mn from a consortium of ten institutional investors, governments and charities for its flagship blended finance fund, which aims to help emerging market economies reduce carbon emissions.

AFRELEC: AfDB approves $83.6mn grant for Ethiopia-Djibouti power link

The African Development Bank (AfDB) has approved two grants worth $83.6mn to boost cross-border trade in electricity between Ethiopia and Djibouti and to deepen integration in the Horn of Africa sub-region.

Egypt objects to Ethiopia filling GERD reservoir

Ethiopia has started its summer filling of the Grand Ethiopian Renaissance Dam (GERD), Egypt claimed this week, just days before the United Nations Security Council is due to discuss the issue.

Kenya completes 100-MW Kipeto wind farm

Construction of Kenya’s 100-MW Kipeto wind farm has been completed, with all 60 turbines at the new site sending power to the national grid, developers BTE Renewables and Kenyan-owned Craftskills said.

Green hydrogen needs supportive energy policies and lower costs

Green hydrogen is currently five times more expensive than grey hydrogen, meaning that the renewable fuel is unlikely to affect the credit profiles of EMEA integrated utilities in the next few years, Fitch Rating said in a recent report.

UN’s Green Climate Fund provides $501.1mn for four new climate projects

The UN’s Green Climate Fund (GCF) has allocated $501.1mn for four new climate projects around the world.

Botswana issues first large-scale solar licence

The Botswana energy regulator has granted a generation licence for a 100-MW solar project to local firm Shumba Energy, Reuters reported, making it the first independent power producer to set up a large-scale solar plant in the country.

AFRELEC: Statkraft provides $2.7bn to curb energy poverty in Africa

Norway’s Statkraft is to donate $2.7mn in cash and equipment to international development charity SolarAid over the next three years in a bid to tackle energy poverty in sub-Saharan Africa.

OneWatt Solar raises $24mn green bond in Nigeria

Nigeria’s OneWatt Solar (OWS) has successfully raised NGN3bn ($7mn) under its NGN10bn ($24mn) Green Bond Issuance Programme.

13,000 shovel-ready green projects could kick-start post-COVID recovery

13,000 shovel-ready renewable energy projects have the potential to provide 22% of the emission reductions needed to meet the UN’s Paris goals and 10mn potential new jobs, research from EY and the European Climate Foundation (ECF) has found.

Sasol, IDC team up to develop South Africa’s green hydrogen potential

Sasol is teaming up with Industrial Development Corp. of South Africa, a government-run development finance agency, to encourage investment in green hydrogen production capacity.

Deputy minister confirms 2023 start date for Tanzania LNG project

Tanzania’s Deputy Energy Minister Stephen Byabato has confirmed that work on the Tanzania LNG project is still slated to begin in 2023.

IFC subscribes to Egypt’s CIB’s $100mn debut green bond

Tunisia, Norway make offer to break GERD deadlock

Tunisia and Norway have offered to consider taking the Grand Ethiopian Renaissance Dam (GERD) dispute to the July session of the United Nations Security Council (UNSC).

South Korea to provide $600mn of energy finance to Africa with AfDB

South Korea is to provide $600mn in co-financing for energy projects across Africa, with a particular focus on renewables and regulatory reform.

El Dabaa construction licence application submitted

The operator of Egypt’s future El Dabaa nuclear power plant (NPP), the Nuclear Power Plants Authority (NPPA), has applied to safety regulators for a construction licence for the first two Russian-designed reactors at the site.

AFRELEC: Chinese withdraw from ambitious Zimbabwe coal power plans

The Industrial and Commercial Bank of China (ICBC) has abandoned plans to finance the $3bn, 2,800-MW Sengwa coal power project in northern Zimbabwe.