Tag: energy

AfDB grants US$29m to facilitate access to energy in Burundi

Frank

BURUNDI – The Board of Directors of the African Development Fund approved, on September 17, a donation of US$ 28.9 million to Burundi to carry out the first phase of its Energy Access Project. The African Development Fund, the Bank Group’s concessional window, will provide funding of US$12.01 million and the Transition Support Facility, a Bank fund intended for countries in transition, US$16.55 million. “The Bank’s support for the Burundi Energy Access Project is in line with the priorities defined in the Country Strategy Paper and in the Burundi National…

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Burkina Faso secures US$69m from AfDB to finance access to electricity in peri-urban areas

Frank

BURKINA FASO – The African Development Bank (AfDB) has approved a new €59.43 million (US$69.63m) loan to Burkina Faso to finance access to electricity for 218,400 households in peri-urban and rural areas. The financing granted by the African Development Bank (AfDB) is intended to accelerate access to electricity in Burkina Faso through two government-led projects. These are the Electrification and Development of Electricity Connections Project (Pedecel) which will be implemented between October 2021 and December 2025. The Yeleen project benefits from this new financing from the pan-African bank. The project…

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Fintech startup Infibranches Technologies secures US$2m funding to provide energy solutions

Frank

NIGERIA – Infibranches Technologies Limited, a fintech startup, has secured US$2 million funding from All On, an investment company backed by oil and gas giant, Shell to provide energy solutions to communities across Nigeria. Founded in 2019 by Olusola Owoyemi, Infibranches is a startup that aims to provide digital financial services for service providers in the energy sector. It made the final cut for Nigeria’s First Resilience Digital Startup Accelerator Program by Forbes and Global Startup Ecosystem. Through its flagship products – OmniBranches and Green Energy Plug – Infibranches helps…

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SEFA to support creation of Kenya’s Super Energy Service Company with US$1m

Frank

KENYA – The Sustainable Energy Fund for Africa (SEFA) has announced a US$1 million grant to support the government of Kenya to create a Super Energy Service Company (ESCO). The Super ESCO, to be run by the Kenya Power and Lighting Company, will develop and implement energy efficiency projects for both the public and private sectors. Super ESCOs are vehicles for channelling funds into public sector energy efficiency investments such as hospitals, schools, and street lighting, laying the foundation for private investment later in the commercial and industrial sectors. The…

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Sasol and Central Energy Fund sign MoU to accelerate gas development in South Africa

Frank

SOUTH AFRICA – Sasol, an integrated energy and chemical company and the Central Energy Fund (CEF) have signed a memorandum of understanding (MoU) to collaborate on accelerating the development of gas solutions in South Africa. This agreement brings together South Africa’s two leading pioneers of the gas industry that possess deep experience in operating across the gas value chain, from exploration to downstream operations. “At the core of achieving our strategic mandate of ensuring security of supply is domestic job creation and an approach to the just energy transition that fosters increasing domestic…

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Energy Services Company AktivCo SAS secures US$70.89m multi-country facility

Frank

WEST AFRICA – The Facility for Energy Inclusion (FEI) has acted as lead arranger for a €60million (US$70.89m) multi-country facility for AktivCo SAS’ subsidiaries in Chad, Niger, Cameroon, Ivory Coast, and Burkina Faso. FEI will provide €27 million (US$31.90m) of the total amount and is being joined by Proparco which will provide €16 million (US$18.90m), Norfund €9 million (US$10.63m) and AfricaGoGreen which will provide €8 million (US$9.45m). AktivCo SAS is an Energy Services Company (ESCO) and fully owned subsidiary of Camusat Group, a global player for the roll-out of telecom…

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Montfort Group acquires oil storage terminal in Mozambique

Frank

MOZAMBIQUE – Following its recent acquisition of Kencor Petroleum Limited (Kencor) in Kenya, Montfort Group has now successfully completed the acquisition of equity in Matola Terminal de Armazenamento de Petróleos SA, a company that owns and operates an oil tanking storage Terminal in the Port of Matola, Mozambique. This acquisition falls in line with the company’s strategic expansion plans in the African continent. The Terminal, which Montfort will own, develop, and operate in close partnership with Energi Asia, has over 58,000m3 of clean product storage capacity. The Terminals’ state-of-the-art latest…

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GE commissions Africa’s first ever fully digital high voltage substation

Frank

SENEGAL – GE Renewable Energy’s Grid Solutions business recently commissioned the first ever fully digital high voltage substation on the African continent in Thiès, 70 km from Dakar in Senegal. This key 225 kV substation project is part of Senegal’s national electricity company Senelec’s transmission and distribution grid expansion, reinforcement and reliability enhancement program to be completed by VINCI Energies West Africa. “This flagship project was made possible due to the robust synergy among VINCI Energies West Africa teams, the technical support of our team Omexom and the digital expertise…

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IRENA and IAEA to assist African Union develop the African Power Master Plan

Frank

AFRICA – The International Renewable Energy Agency (IRENA) and the International Atomic Energy Agency (IAEA) have been selected as modelling partners for the development of the African Continental Power Systems Master Plan (CMP). The initiative is led by the African Union Development Agency (AUDA) with the technical and financial support of the European Union (EU) and is aimed at establishing a long-term continent-wide planning process. The two agencies’ modelling tools will be the official planning models utilised in this initiative. African energy ministers tasked the African Union Development Agency (AUDA-NEPAD)…

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Global Coalition launches US$80m Relief Fund to protect energy access in Africa and Asia

Frank

AFRICA – Global Coalition has launched a first-of-its-kind relief fund with a first close of US$68m and a target of over US$80m to protect energy access for at least 20 million people in sub-Saharan Africa and Asia, The Energy Access Relief Fund (EARF) is the culmination of an unprecedented partnership convened by Acumen, including CDC Group, DFC, FMO, Green Climate Fund, Shell Foundation, IKEA Foundation, The Rockefeller Foundation, World Bank, IFC, Swedish International Development Cooperation Agency, Swiss Agency for Development and Cooperation, the UK Foreign, Commonwealth and Development Office (FCDO),…

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