The project involves the development of 35 mini grids, standalone solar photovoltaic systems in 400 schools, 200 units in healthcare centers and 100 units for community energy services centers in the Volta Lake region. The Board of Directors of the African Development Fund has approved a $27.39 million grant to Ghana for the development of […]
GCF Approves $170.9M For AfDB’s Programme to Benefit African Countries
The board of the Green Climate Fund (GCF) has approved $170.9 million in financing for the African Development Bank’s (AfDB) Leveraging Energy Access Finance Framework (LEAF) programme. This is part of an overall allocation of $501.1 million in GCF resources for new climate projects. The new climate projects approved will mobilise a total of $2,949 […]
Korea Backs African Energy With AfDB Financing
South Korea will provide $600 million to co-finance energy projects in Africa, alongside the African Development Bank (AfDB). The AfDB has provided support for Egypt’s electricity sector The agreement was reached with the Korean Ministry of Economy and Finance and the Export-Import Bank of Korea. The support will run for five years. The Korea-Africa Energy […]
A Third Wave of COVID-19, Solar Power in Togo, and Security Updates
The COVAX program, a global vaccine-sharing scheme devised by the WHO, is facing shortages in the midst of the heightened need by African countries. COVAX has “delivered 90 million doses to 131 countries”—40 million of which have been administered in Africa—but many of these countries have already or nearly exhausted their supplies. Facing uncertainty about […]
Mozambique Launches Construction of $1 Bln Power Plant, Transmission Line
Upon completion, the gas-to-power Temane Thermal Power Plant will have a capacity of 450 megawatts. MAPUTO : Mozambique on Monday began construction of gas-to-power plant and transmission line projects worth $1 billion in the southern province of Inhambane as the government aims to boost energy supply. The World Bank is one of the financing partners […]
100 MW Redstone Concentrated Solar Power with 12 Hours Daily Thermal Energy Storage Closes Financing
ACWA Power has led South Africa’s largest renewable energy project Redstone CSP to financial close The ZAR 11.6 billion Redstone concentrated solar power plant will power 200,000 households upon completion. Redstone CSP Closes Financing May 2021 – ACWA Power. Commercial operation scheduled to start in Q4 2023 ACWA Power, a leading Saudi developer, investor and […]
ACWA Power leads South Africa’s largest Renewable Energy Project Redstone CSP to Financial Close
The ZAR 11.6 billion Redstone concentrated solar power (CSP) plant to power 200,000 households upon completion Commercial operation scheduled to start in Q4 2023 Johannesburg, South Africa : ACWA Power, a leading Saudi developer, investor and operator of power generation and water desalination plants in 13 countries and the lead shareholder in the Redstone concentrated […]
AfDB approves $27.2million loan for Kom Ombo solar power plant in Egypt
The project is expected to lower electricity costs for businesses and residences, as well as reducing greenhouse gas emissions and creating construction and other jobs. The African Development Bank’s Board of Directors today approved $27.2 million in loan financing for the design, construction and operation of a 200 MW photovoltaic solar power plant at Kom […]
AFDB extends ‘Desert to Power’ Program to Nigeria
The President of African Development Bank (AfDB) Dr. Akinwunmi Adesina, has announced that the bank is set to undertake its ‘Desert to Power’ initiative in Nigeria to meet up the challenge of power failure, noting that the initiative has already commenced in Morocco and Kenya. Investment newsletter from Nigerian Investment Promotion Commission, NIPC, quoting AfricaOilandPower, […]
BURUNDI : AFDB gives more than 43,000 refugees access to solar energy
The African Development Bank (AfDB) has just completed its environmental project in the refugee camps in Burundi. The project, financed to the tune of 1.3 million dollars by the Transition Support Facility, has enabled 43,296 people to gain access to solar energy and improve their resilience to climate change. In Nyankanda camp in eastern Burundi, […]