Ghana to launch wholesale electricity market to lower power costs

Ghana to launch wholesale electricity market to lower power costs

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GHANA – Ghana Grid Company Limited (GRDCo), has announced that it will be launching the first ever wholesale electricity market in Africa next year. While delivering the news, GRDCo’s chief executive officer, Mr Jonathan Amoako-Baah, said that the move will allow for…

Solar energy company Daystar Power installs 100th solar power system in Nigeria

Solar energy company Daystar Power installs 100th solar power system in Nigeria

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NIGERIA – Daystar Power, a West African solar energy company, has announced that it has successfully installed its 100th solar power system since the company’s foundation in 2017. This is after it was able to successfully install a solar energy system at…

World Bank pledges US$125m to support Rwanda’s universal electrification project

World Bank pledges US$125m to support Rwanda’s universal electrification project

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RWANDA – The World Bank has signed a $125million (Rwf112billionn) credit agreement with the government of Rwanda to support the government’s nationwide electrification project. According to New Times Rwanda, The Minister for Finance and Economic Planning, Uzziel Ndagijimana and the World Bank…

Energy stakeholders call on new financing mechanisms to support off-grid and mini-grid connectivity in Africa

Energy stakeholders call on new financing mechanisms to support off-grid and mini-grid connectivity in Africa

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COTE D’IVOIRE – Stakeholders in the energy industry have called for restructuring of  financing mechanisms in order to enable the development of off-grid and mini-grid connectivity in Africa. The sentiment was made during the 5th Energy Access Investment Forum in Abidjan, Cote…

AfDB doubles its climate finance commitments to US$25bn within 2020-2025

AfDB doubles its climate finance commitments to US$25bn within 2020-2025

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AFRICA – The African Development Bank (AfDB) announced that it will double its climate finance commitments for the period 2020-2025 to at least US$25 billion. The announcement was made by Akinwumi A. Adesina, the Bank’s President during the One Planet Summit in…