Tag: energy

Sahara Tanzania expands petroleum product storage capacity to 72m liters

Frank

TANZANIA – Sahara Tanzania Limited, a Sahara Group company, has expanded its storage capacity for petroleum products to 72 million litres in line with its commitment to promoting availability and reliability of top-quality products in Tanzania and other neighbouring African countries. “Since our Tanzania operations commenced in 2015, Sahara has expanded its infrastructure from 10 loading arms and 4 storage tanks with a combined storage capacity of 36 million litres to 20 loading arms with 8 storage tanks, with a combined capacity of 72 million litres, spurring economic development in…

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OPEC Fund signs US$15m loan to improve energy access in Madagascar

Frank

MADAGASCAR – The OPEC Fund for International Development (the OPEC Fund) has signed a US$15 million public sector loan agreement with Madagascar to co-finance the second phase of a project that will improve energy access in rural areas. The finance will be used for Madagascar’s ‘Integrated Growth Poles Energy Access Enhancement Project (Phase 2)’, which will install solar nano-networks, power lines and street lighting in isolated communities in the Diana and Atsimo-Andrefana regions. In addition, the project will improve 43 kilometre of roads and tourist sites on the small island…

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Fund manager Mahlako Financial Services establishes US$103m energy kitty

Frank

SOUTH AFRICA – Alternative investments fund manager Mahlako Financial Services, has announced the establishment of a US$103 million fund to invest in energy projects across the country that have growth potential. Speaking to Business Report Online, Mahlako Financial Services co-founder Makole Mupita said the fund hoped to unlock access to capital, especially for black businesses. “We feel that the energy industry played a critical role in the South African economy and those in the majority must also play a role,” she said. The company described itself as an investor in…

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World Bank approves US$500m to accelerate electrification process in Ethiopia

Frank

ETHIOPIA – The World Bank’s Board of Directors has approved a US$500 million loan to Ethiopia to help the horn of Africa nation accelerate electrification process as demand for electricity increases. The funds have been allocated by the International Development Association (IDA), a member of the World Bank Group. The Ethiopian government is focusing on extending and strengthening the national electricity grid in the country’s major cities. The Access to Distributed Electricity and Lighting in Ethiopia (ADELE) project ADELE is a component of Ethiopia’s National Electrification Programme (NEP), which aims…

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Electricity supplier Tanesco readies to power Tanzania SGR operations

Frank

TANZANIA – State power utility firm, Tanzania Electricity Supply Company (Tanesco) will supply 70 megawatts of electricity to power the first phase of the standard gauge railway (SGR), which starts operations in a few months’ time. Energy minister Medard Kalemani told the media that the construction of power lines between Dar es Salaam and Morogoro was complete and that Tanesco was ready to power the Tanzania Railways Corporation (TRC) locomotives. “We have invested US$30.7 million in building the necessary power infrastructure for the first phase of the SGR. The project…

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Power utility Eskom set to be unbundled into three divisions

Frank

SOUTH AFRICA – The government of South Africa has announced plans to unbundle utility Eskom into three divisions; generation; transmission and distribution  by December 2022. The separation of the transmission division is expected to be completed by December this year, while the separation of the generation and distribution divisions is expected to be completed by December 2022. The South African government allocated Eskom US$3.86 billion for 2020/2021, of which US$413.4 million of the equity allocations had been provided by 30 September 2020. The utility has been allocated a further US$2.18…

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Angola receives US$250m from World Bank to enhance electricity access

Frank

ANGOLA – The government of Angola has received US$250 million from the World Bank to improve the operational performance of the electricity sector utilities and increase electricity access in selected cities of Angola. The  Electricity Sector Improvement and Access Project will finance electrification investments in the provinces of Luanda, Benguela, Huila, and Huambo, delivering 196,500 new electricity connections that will benefit close to one million people and 93,857 public lights. The project will focus on electricity access expansion and improvement of revenue collection, electricity service improvement, capacity improvement of the…

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Sasol reduces its debt by US$4.26b, avoids dilutive rights issue

Frank

SOUTH AFRICA – Petrochemical giant Sasol has reiterated its decision not to pursue a rights issue, as the group made headway in reducing its debt burden by US$4,26 billion  for its half-year to the end of December 2020. Sasol published its latest results on the Johannesburg Stock Exchange, which showed that the group’s total debt at the end of its interim period stood at US$8.49 billion, compared to US$12.8 billion as at June 30, 2020  for the full-year. This is a notable cut within just six months, which comes largely on the…

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Kenya to complete US$462m electricity grid connection to Ethiopia by June 2021

Frank

KENYA – The government of  Kenya  expects to complete the connection of its national grid with Ethiopia’s by June this year. Speaking during a tour to inspect various development projects in Narok County, Kenya’s Energy Cabinet Secretary Charles Keter said the new connection constructed at the cost of US$462 million will be ready for commissioning at the end of three months. “Kenya will venture into the power trade businesses with this new regional interconnect. We view this as a critical installation to the development of the country,” he said. The…

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Electricity distributor Kenya Power to join the solar business to retain consumers

Frank

KENYA – Electricity distributor Kenya Power Company is set to join the solar power business, as it seeks to stay relevant and protect its long-term revenues increasingly threatened by a fast uptake of home solar panels by its main customers, both domestic and industrials. The utility firm, eager to cash in rather than lose out on the millions of solar kits being mounted on the roofs of homes and business premises around the country, plans to install panels in private houses and office blocks with the promise of cheap uninterrupted…

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