Power | - Part 3

Uganda to spend $2 bln on power connections, grid: Umeme executive

NAIROBI, Capital Markets in Africa: Uganda plans to spend at least $2 billion in the next five years to connect more people to its electricity grid and raise connection rates, a senior executive at sole power distributor Umeme Ltd said on Thursday. Ugandan officials say they want to boost electricity supply rapidly to power an industrialisation drive. In recent years they have cut subsidies for consumers and introduced a tariff adjustment mechanism. The country said…

Obama’s Africa Power Plan Falls Short, Leaving Continent in Dark

Posted on by The Editorial Team

LAGOS, Capital Markets in Africa: President Barack Obama’s signature initiative for Africa — a $9.7 billion plan to double electricity access in the world’s poorest continent — has fallen well short of its goals, so far producing less than 5 percent of the new power generation it promised. Obama announced Power Africa three years ago with an ambitious goal: to add 10,000 megawatts of power and supply electricity to 20 million households within five years. As…

Infrastructure | Engie Seeks to Tap Off-Grid Solar to Power Millions in Africa

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LAGOS, Nigeria, Capital Markets in Africa: Engie SA is seeking to become a player in the off-grid solar industry, one of the first major utilities to work directly in that niche of the energy system. “It could be a sizable part of the market,” Bruno Bensasson, chief executive officer of Engie’s Africa business unit, said in an interview in London. “Solar home systems are part of an energy proposal for countries, as well as national grids. We…

Infrastructure | Mainstream Raises $118 Million for African Wind and Solar Farms

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: One of Africa’s biggest renewable-energy developers raised $118 million to expand its footprint in the continent’s fast-growing markets for solar and wind power. Mainstream Renewable Power Ltd., a Dublin-based clean-energy developer, raised the funds to help finance the $1.9 billion Lekela Power joint venture, which plans to install more than 1.3 gigawatts of renewable electricity across Africa by 2018, Chief Executive Officer Eddie O’Connor said. “It’s high risk, so…

Nigeria | Darkness Looms Over Nigeria as Delta Attacks Cut Power

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LAGOS, Nigeria, Capital Markets in Africa: Unless President Muhammadu Buhari, 73, can subdue armed militants attacking gas facilities that supply the nation’s power plants, his plans to remedy an electricity shortage he called a “national shame” in his inauguration speech a year ago, will be stillborn. In March, Buhari said he would increase power generation by 2,000 megawatts this year and raise it by 2019 to 10,000 megawatts, double this year’s peak in early February. Then militants…

Impressions from the World Economic Forum on Africa —- RMB Morgan Stanley

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The 26th World Economic Forum on Africa was held in Kigali, Rwanda last week: We attended the gathering and provide feedback on the conference and the investable themes coming out of it. Connecting Africa’s Resources through Digital Transformation: The theme of this year’s forum builds on that of the World Economic Forum held in Davos this January, by honing in on how Africa sees itself participating in the so-called Fourth Industrial Revolution. Rwanda, a continental…

African power utility sector shines bright about the outlook ahead: PwC report

Posted on by The Editorial Team

JOHANNESBURG, South-Africa, (Capital Markets in Africa) — Survey finds companies and sector stakeholders optimistic about a range of key African electricity issues. 96% say there is a medium or high probability that load shedding will be the exception rather than the norm by 2025. Technological change expected to transform prospects for rural electrification. Business model transformation lies ahead for many power utility companies. Power utility companies and stakeholders across Africa anticipate a brighter and different outlook…

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