African Development Bank will manage Africas New Deal on Energy along with investing US$12bn in energy funding over the next five years
Power Generation
Nigerian IPP achieves financial close
Nigeria’s first true project-financed independent power plant (IPP), the Azura Edo, has achieved financial close and stakeholders met to finalise issues ahead of the groundbreaking ceremony
Orascom Construction to convert Egypt power plants for US$420mn
Orascom Construction has agreed to undertake a US$420mn contract to convert existing simple power plants to combined cycle power plants
Ruzizi III hydropower project gets financial backing from AfDB
The African Development Bank (AfDB) has approved a US$138mn loan to finance the Ruzizi III hydropower plant project
UK and USA sign MoU to aid Africa with power generation
UK’s Energy Africa campaign and USA’s Power Africa initiative have decided to sign a partnership to aid Africa with power generation projects