Wärtsilä signs 10-year Guaranteed Asset Performance contract with Malicounda Power in Senegal

SENEGAL – The technology group Wärtsilä has signed a 10-year Guaranteed Asset Performance agreement with Malicounda Power SAS of Senegal. The contract covers the 130MW Malicounda Melec power plant located in Mbour, south of Senegal’s Dakar, scheduled to be commissioned in June 2022. The long-term service agreement targets the further strengthening of Malicounda Power’s position as a power producer for…

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Power generating company Egbin Power Plc set to raise US$1.8bn to increase its generating capacity

NIGERIA – Egbin Power Plc, a power generating company, has announced that it plans to raise the sum of US$1.8 billion in a bid to increase its present generating capacity from 970 megawatts to 1,320 megawatts in its second phase growth plans. The company also plans to export electricity generated through the West African Power Pool with its increased generating…

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Turkish Aksa Power Generation opens new offices in Kenya and Sudan

KENYA – Aksa Power Generation, Turkish company that designs, manufactures, distributes, sells, and services electrical power generators worldwide which is a part of Kazancı Holding, has opened new offices in Kenya and Sudan, a move that is in line with the company’s ambitious plan to grow rapidly in Africa With eight offices in Africa, from North (Algeria office) to South…

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9 million people to benefit from US$385m IDA funded Cameroon-Chad Power Interconnection Project

CENTRAL AFRICA – The International Development Association (IDA), a subsidiary of the World Bank Group, has approved a loan of US$385 million for Cameroon-Chad power interconnection project. The funds according to Africa Energy Portal will be used to finance a power interconnection project between the two Central African countries. The total population directly concerned by the power interconnection project will…

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IFC arranges US$342m credit facility for development of Eranove’s Atinkou Power Plant in Côte d’Ivoire

COTE D’IVOIRE— IFC has succeeded in arranging a US$ 341.98m (EUR 303m) credit facility for the financing of a new a gas fired power project in Côte d’Ivoire. The new plant – called Atinkou – is  being developed by Eranove, an independent producer and the delegated manager of public services in the water and electricity sectors in Ivory Coast. According…

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Ghana’s Millenium Development Authority to construct two primary substations to improve power supply

GHANA – Millennium Development Authority (MiDA) has said that it will construct two primary substations in Kanda and Legon to reduce technical losses at the Electricity Company of Ghana (ECG). According to a statement from the authority the two projects forms part of the implementation of the Power Compact programme. Chief Executive of MiDA, Mr Martin Eson-Benjamin in his remarks…

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Nigerian renewable energy company, Rensource secures US$3m investment from French impact investor, Proparco

NIGERIA – Proparco, a subsidiary of Agence Française de Développement (AFD) with the support of the European Union (EU), has invested USD 3 million equity in Rensource (Holdings), a key player in the renewable energy sector in Nigeria. “By developing innovative economic models based on renewable energies, SMEs such as Rensource will be playing a key role in the energy…

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Nigeria partners with Siemens to improve electricity transmission and distribution

NIGERIA – The Federal Government has set aside the sum of N61bn for the Nigeria Electrification Road map to be developed in partnership with Germany-based Siemens AG. The amount provisioned for the Presidential Power Initiative is one of the key expenditures captured in the 2020-2022 Medium-Term Expenditure Framework and not in the 2020 budget. This is contained in the highlights…

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Planned Launch of central electricity grid control set to increase energy access in ECOWAS region

electricity linkage to 250MW by 2021

WEST AFRICA – The West African Power Pool (WAPP) has announced that a central control centre that will be used to manage and operate all electricity grids in West Africa shall begin operations by 2020. The Secretary-General, WAPP, Siengui Appollinaire, told journalists on the sidelines of the executive board meeting of the agency that there had been many remarkable feats…

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Nigeria secures US$3bn from World Bank to boost power supply

NIGERIA – The Federal Government through its Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has said that the World Bank has finally approved its $3bn loan request for the expansion of the power transmission and distribution networks in the country.    The minister said this while addressing journalists on the outcome of Nigeria’s participation at the annual…

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