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Browsing: renewable energy
Nigeria is set to benefit from renewable energy financing programmes worth $4.5 million by the FSD Africa Investments (FSDAi).
FSD Africa
Established in 2012 and supported by UK aid, FSD Africa is a specialist development agency working to build and strengthen financial markets across sub-Saharan Africa.
FSD Africa is incorporated as a non-profit company limited by guarantee in Kenya. It is funded by UK aid from the UK government.
Poverty eradication
The organization works to reduce poverty through a ‘market systems development’ approach with an aim to address the structural, underlying causes of poverty by improving how financial market systems function.
The FSDAi, is investing $4.5 million in Nithio FI, a renewable energy financing intermediary focused on the Pay as You Go (PAYG) off-grid solar sector.
The intermediary provides renewable energy solutions for households and small businesses in Nigeria, Kenya and Uganda.
Renewable off-grid energy
Over the next five years, …
Africa’s post-Covid-19 growth recovery and economic prosperity are dependent on renewable energy which will be a critical driver.
According to International Energy Agency data, scaling up Africa’s capacity to achieve universal access to energy by 2030 would require over US$100 billion per year. Of this amount, 40 per cent would be dedicated to solar, wind, and other low-carbon power generation projects.
There are a number of initiatives meant to accelerate electrification on the continent among which is the African Development Bank (AfDB)’s New Deal on Energy for Africa which is a transformative partnership-based strategy that aims to increase access to energy for all Africans.…
GreenCo Power Services, a subsidiary of Africa GreenCo has received a total of USD 1.5 million through two deals. The Danish government’s Investment Fund for Developing Countries (IFU) has committed $1 million in funding. InfraCo Africa, the investment arm of the Private Infrastructure Development Group also put in $500 000 through a convertible loan.
The deal will see GreenCo Power services come to life to strengthen power generation capacity. Renewable energy generation will provide an innovative approach to electricity production which is set to drive Zambia’s power infrastructure significantly.
The Zambian government is on the path to scaling up energy which ties in with the country’s vision to be a prosperous middle-income country by 2030. As part of its vision, the country intends to shore up energy availability to drive productivity in the country. This deal will therefore see GreenCo acting as a complementary partner to the Zambian government’s vision. …
A webinar organised by The Power & Electricity World Africa, entitled “Achieving Energy Security: Encouraging Healthy Competition And Regulation For IPPs”, took place on the morning of July 14th, 2020.
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The attending virtual panel consisted of:
- Dr. Clinton Carter-Brown, Energy Centre Head, CSIR, South Africa – Moderator
- Vitor Marquez da Cruz, Managing Director, MC&A Advogados
- Eng. Julius Riungu, CEO, Tsavo Power, Kenya
The topic of African Energy security and the challenges ahead was debated in a little over an hour, with very insightful contributions from all parties involved being brought to the forefront.
The imbalance of supply and demand for electricity in Africa curbs its potential for economic development. IPPs (Independent Power Producers), though, align very well with the national energy security agenda and are a definite solution to meeting Africa’s growing electricity needs.
Africa currently accounts for …
Liberia, Africa’s oldest republic has been endowed by abundant renewable energy that could enhance power generation, and African Development Bank (AfDB) just approved a $34.74 million grant and loan to boost renewable energy access as well as investment in the country.
According to AfDB statement, during the first project (Renewable Energy for Electrification in Liberia) over $ 33 million—in grant from AfDB and strategic climate fund scaling-up renewable energy program, will be targeted at supporting renewable energy sector.
Further, the approved funds will go towards construction of a mini dam on the St. John River in Nimba County in northeastern Liberia and the development of the Gbedin hydropower Falls with a total capacity of 9.34 megawatts of power, to be transmitted through an 8 km, 33kV line connecting 7,000 households.
According to US Agency for International Development (USAID), Liberia has one of the lowest electricity access rates in the …