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Saudi plans 10 new renewable energy projects
AFRICA

وزير: موازنة تونس 2024 تتضمن حوافز لمشاريع الطاقة المتجددة

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Tunisia’s budget for fiscal 2024 includes new incentives for domestic and foreign investment mainly renewable energy projects, its Finance Minister has said. Sihem Boughdiri told Tunisia’s Parliament on Friday that the Finance Ministry has already drafted the 2024 budget and that it would be submitted to Parliament on Dec 6, adding that it must be […]
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Scatec Exits Iraq Solar Power Projects Amid Delays
AFRICA

KenGen banks on heavy rains to stabilise power costs

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Reports improved water levels at large dams in the Eastern region. •Hydropewer forms a major component of the country’s energy mix, coming second after geothermal. •Installed capacity for hydro is at 837.58MW, wind 435.5MW, while solar is at 170MW. Installed geothermal power generating capacity is at 949.13MW. Kenya Electricity Generating Company (KenGen) has stepped up […]
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Double-digit growth for Ghana’s renewable energy capacity predicted – ESI Africa
AFRICA

Inspired Evolution Leads $160m Co-Investment Round in Red Rocket Group

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In Short : Inspired Evolution, a leading investment advisory firm specializing in sustainable energy infrastructure, has spearheaded a co-investment round worth $160 million in Red Rocket Group. This significant investment underscores the growing focus on renewable energy ventures and sustainable solutions globally. In Detail : Inspired Evolution’s Evolution III Fund, in partnership with Dutch Development […]
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South Africa
AFRICA

South Africa’s energy crisis shows the need for climate finance

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In Short : South Africa’s ongoing energy crisis highlights the urgent need for climate finance to support the country’s transition to renewable energy sources. The nation relies heavily on coal for its energy needs, contributing significantly to greenhouse gas emissions and exacerbating climate change. Climate finance, which includes funding and investment mechanisms specifically aimed at […]
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Rystad Energy Africa will overtake Europe in geothermal capacity by 2030
AFRICA

Rystad Energy: Africa will overtake Europe in geothermal capacity by 2030

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In Short : According to Rystad Energy, Africa is expected to surpass Europe in geothermal energy capacity by 2030. This growth is indicative of Africa’s increasing focus on renewable energy sources to meet its electricity needs and reduce carbon emissions. Geothermal energy, derived from the Earth’s internal heat, offers a sustainable and reliable power source, […]
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climate change
AFRICA

Climate change: Kenya’s power sector is a shining example, the big hurdles are household and transport emissions

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Kenya’s ambition is to reduce carbon emissions by one-third by 2030, relative to the business-as-usual scenario of 143 metric tonnes of carbon dioxide equivalent. It also seeks to reduce carbon emissions to as close to zero as possible by 2050. How and whether these goals are achieved will have huge implications for the country’s economic […]
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ILF appointed as consultant for 30GWp solar power projects in Saudi Arabia
AFRICA

Project Finance Brief Voltalia Sells 420 MW Solar Project to Newave Energia

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Voltalia, a renewable energy power producer, sold its 420 MW solar project to Newave Energia, a partnership between Gerdau and Newave FIP in Brazil. Newave Energia will rely on Voltalia to construct and maintain electrical infrastructure. Newave Energia’s future photovoltaic power plants will avoid the emission of approximately 350 kilotons of CO2 annually. The project […]
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