Enis Sankofa project has contributed to an optimistic oil outlook for Ghana. (Image Source: Eni/Flickr)
Ghana is expected to report a recovery of growth in 2017-18, with increased oil production being among the contributing factors, according to an International Monetary Fund (IMF) executive board review
35kW Miniature Neutron Source Reactor. (Image source: China Institute of Atomic Energy)
Ghana has become the first of the five countries operating a Chinese-supplied Miniature Neutron Source Reactor (MNSR) to successfully convert and repatriate its irradiated HEU core to China
Power Africa. (Image source: usaid)
The 2017 report highlights how Power Africa continues to lay the foundation for sustainable economic growth in Africa while creating opportunities for American businesses
Participants can watch videos, infographics, articles or participate in online webinars during the week. (Image source: Danfoss)
Refrigerant shortages, new refrigerant launches, price increases and tax on GWP values, and shifting regulations make it challenging for industry professionals and decision-makers to anticipate and plan for the future
(Image source: EBRD)
The two institutions have committed US$58mn each for two 50 MW solar photovoltaic power plants
The EBRD and Proparco have together provided US$116mn of financing for the construction and operation of two 50MW solar photovoltaic power plants. These are the first two projects to be financed under the second round of Egypts ambitious feed-in tariff scheme and will be part of the planned 1.8GW Benban solar complex in Aswan province, in the southern area of Upper Egypt.
The two projects are the first under the EBRD’s new US$500mn framework for renewable energy in Egypt, which is expected to finance a total of 16 such projects delivering 750MW of capacity and under Proparco’s dedicated envelope for solar projects in Egypt.
The new facilities will be constructed, operated and owned by two Egyptian subsidiaries of the French company EREN Renewable Energy and Access Power, the Dubai-based developer, owner and operator of renewable power plants..
Janet Heckman, EBRD Managing Director of the Southern and Eastern and Mediterranean (SEMED) region, said: “We are very pleased to sign the first projects today, just two months after the EBRD Board of Directors approved our Egypt Renewable Energy Framework. These are truly groundbreaking projects, the first to reach this milestone in Egypt’s ambitious scheme to exploit its outstanding renewable resources.”
Harry-Boyd Carpenter, EBRD Director of Power and Energy utilities, said: “Projects such as these depend on partnership and this financing demonstrates this very clearly. We are privileged to be working with EREN and Access Power, who bring deep expertise and sustained commitment to renewable energy; Proparco, with whom we have a very strong partnership supporting renewable energy in Jordan, which we are proud to extend to Egypt. More broadly the success of this programme is due to the support of Dr Sahar Nasr, Minister of Investment and International Cooperation, Dr Mohamed Shaker, Minister of Electricity and Renewable Energy, the Egyptian Electricity Transmission Company, the New and Renewable Energy Authority and Egypt ERA, who have all worked so hard over the past three years to launch private renewable energy in Egypt.”
More than 50 per cent of the population in the Aswan region live below the poverty line. The EBRD’s and Proparco’s solar projects in Benban will bring a significant short-term boost to the economy through the construction activities. They will also provide benefits through the transfer of skills and the creation of long-term jobs in the operation and maintenance of the power plants.
Between 2007 and 2016 the EBRD invested more than €3.5bn (US$4.14bn) directly in renewable energy, supporting 104 projects in 23 countries, and funding more than 5.3GW of capacity
Egypt is a founding member of the EBRD and has been receiving funding since 2012. To date the Bank has invested €2.6bn (US$3.07bn) in 49 projects in the country. The EBRD’s areas of investment include the financial sector, agribusiness, manufacturing and services, as well as infrastructure projects such as power, municipal water and wastewater services and support for transport services. The Bank has also provided technical assistance support to more than 500 small and medium-sized local enterprises.
Proparco pursues an ambitious climate strategy and has pledged to commit over 30 per cent of its annual funding towards climate mitigation projects. In the last 10 years, Proparco has committed over €2bn (US2.36bn) in financing dedicated to fighting climate change, including over €1bn (US$1.18bn) for renewable energy projects.
Proparco and its parent institution, Agence Française de Développement, have been consistently financing projects in Egypt: nearly €2bn (US2.36bn) in financing has been granted since the first loan was made in 2006.
The Bell team in Richards Bay consists of more than 800 machinists, welders, and assemblers. (Image source: Bell)
GFE Power Product’s extensive range covers generators from 10 kVA up to 3,000 kVA. (Image source: GFE Power Products)
The funding is the largest-ever equity raise in the minigrid industry according to Husk. (Image source: Adobe Stock)
The initiative will help African contractors participate in annual infrastructure investments. (Image source: Afreximbank)
ITS has evolved into a sophisticated systems approach, providing numerous opportunities to revolutionise road networks. (Image source: Adobe Stock)
Inside Condra’s Johannesburg factory: an overhead crane positions an electric motor during assembly of hoist and crab. (Image source: Condra)
Invest International’s Lara Muller; Ivory Coast Minister of Finance and Economy, Adam Coulibaly; and Ambassador Designate to Ivory Coast, Jeroen Kelderhuis. (Image source: Invest International)
The Yellow Metal Machine Rental team with some Wacker Neuson equipment. (Image source: Wacker Neuson)
The parties will also promote the mutual exchange of information and expertise in the field of export credit policies and practices. (Image source: TBD Group)
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WAA and VCMI will seek to establish regulatory frameworks to enable access to high integrity and fair voluntary carbon markets for WAA member countries. (Image source: Adobe Stock)
IVECO is renewing its entire product range, all at once. (Image source: IVECO)
Both the IMF and EIU expect SSA to rank as the world’s second fastest growing economy in 2024. (Image source: Adobe Stock)
The MoU was signed alongside the Africa Health Business Symposium. (Image source: Africa CDC)
There has been a focus on the sugar industry. (Image source: Adobe Stock)
The AfDB board complemented Transnet for progress made in rolling out its compliance and governance improvement programme. (Image source: AfDB)
The new data centre is ‘EcoStruxure-ready’, with components of the installed EcoStruxure for Data Centers platform solution. (Image source: Schneider Electric)
d.light has a proven track record in the use of securitised finance to support its solar-powered household products in sub-Saharan Africa. (Image source: d.light)
Ghana’s President, Nana Addo Dankwa Akufo-Addo, speaking at the launch. (Image source: Office of the President, Republic of Ghana)
Dietmar Siersdorfer speaking at Africa Energy Forum in Barcelona. (Image source: Siemens Energy)
The generator set fitted with a Perkins 1103 is providing vital backup power at the St Patrick School in Uganda. (Image source: Perkins)
5G technology deployment will take place later this year. (Image source: Adobe Stock)
Spiro will draw from its experience in Kenya, Benin, Togo, Rwanda and Nigeria as it launched in Uganda. (Image source: Spiro)
According to IRENA, concrete policy actions and massive mobilisation of finance at full speed is required in order to meet the 2030 target. (Image source: Adobe Stock)
The distributor will hold specialised training and empowerment sessions to enable its channel network to effectively deliver Vertiv’s portfolio, as well as managing inventory to serve the market. (Image source: Vertiv)
The HQ is expected to be completed and handed over by February 2025. (Image source: ECOWAS)
Africa’s share of global manufacturing only sits at around 2% today. (Image source: Adobe Stock)
There are numerous but not insurmountable challenges facing Africa's aviation sector, according to IATA. (Image source: Adobe Stock)
Africa Energy Forum 2024 was held in the Fira de Montjuïc in Barcelona. (Image source: ACP)
The quality design and manufacture of SEW-EURODRIVE South Africa’s panels and enclosures can be suited to any customer requirement wall mounts. (Image source: SEW-EURODRIVE)
