Cape Verde, the small island archipelago nation off Africa’s northwest coast, has set itself a very renewable energy target. As part of ‘sustainable energy for all’ agenda, it has pledged to obtain 100 percent of its electricity from renewable resources by 2025. Cape Verde is made up of 10 islands, nine of which are inhabited, that lie about 600km west of Senegal. Of the islands’ 550,000 residents have access to electricity, but about one-third still rely on firewood and charcoal for cooking.
Electricity: Latest News
Staff, 4:45 pm
The cars of the future will depend upon supplies of an obscure metal from a country in the African tropics where there has never been a peaceful transition of power and child labor is still used in parts of the mining industry. Most major automakers are pledging to build millions of electric vehicles as the world’s governments crack down on climate-damaging emissions from traditional-fuel engines.Demand is surging for lithium-ion batteries and the materials needed to make them–including cobalt.
Staff, 8:08 am
A new program in Seychelles focusing on energy efficiency in state buildings and street lighting will soon launch. Called ‘Smart Energy in Public Spaces,’ the new program will include the installation of 10,000 LED streets lamps by 2020 across the three main islands of Seychelles. “The same program will also provide all the public schools with solar photovoltaic panels and other accessories for them to meet the schools’ energy needs,” said the Minister of Environment, Energy and Climate Change.
Kurt Davis Jr., 4:31 pm AFKI Original
Betting on oil and gas prices these days is part-art and part-fun for bankers and investors, but major oil giants Total seem to be backing East Africa. Numerous pipelines for oil and gas are under construction across the African continent, and may be something for investors to monitor closely. Gas is the third largest fuel source in the global primary energy mix and the second largest source in power generation, contributing 24 percent and 22 percent to each market respectively.
Peter Pedroncelli, 5:53 am
Renewable energy firm, GreenWish Partners, which is run by former Morgan Stanley executive Charlotte Aubin-Kalaidjian, has announced plans to invest $800 million on solar-powered telecommunications towers to be built throughout Africa. GreenWish will partner with telecoms provider Orange to implement hybrid telecommunication tower systems that are completely off-grid thanks to the combination of a solar panel, a battery and a diesel generator.
Peter Pedroncelli, 7:53 am
U.S. solar startup Fenix International is expanding its partnership with Africa’s largest telecommunications provider MTN in order to provide electricity to Africans who do not have access to an electricity grid. The San Francisco startup brings power to under-served areas thanks to the provision of their solar-power systems, and their extended partnership with MTN Group in Zambia will mean electricity access for an additional million new users in the country over the next three year period.
Staff, 8:32 am
There has been talk of tapping into the Sahara desert’s vast resources of sunshine to power Europe for years, but little to show for it. The high-profile Desertec initiative, conceived with 19 shareholders, flopped amid cost concerns and political instability across North Africa. Now a massive project in Tunisia is hoping to be the first to make the solar power export dream a reality. Developer TuNur filed a permit request to the energy ministry to build 4.5GW of capacity near Rjim Maatoug.
Peter Pedroncelli, 8:00 am
Malawi is undertaking a massive fibre network project to connect more internet users in the country, thanks to a partnership between Huawei Technologies and the state-owned Electricity Supply Corporation of Malawi (Escom). The national fibre backbone project will see a dedicated investment of $23 million, with fibre implemented across 28 districts within the country, improving internet access and speeds while integrating government operating systems.
Staff, 9:30 am
Cape Verde has received a grant from the World Bank, to finance the distributed solar energy system project.
It is i ntended that part of the proceeds of this grant will be used to pay the contractor for supply, installation and commissioning of grid-connected photovoltaic (PV) systems for self-consumption of the central and regional hospitals of Cabo Verde. The Ministerio de Economia e Emprego invites sealed bids from interested bidders for the supply of the goods and related services.
Kurt Davis Jr., 11:08 am AFKI Original
As the second half of 2017 comes into focus, entrepreneurs and private equity managers alike want the narrative in investor circles to change regarding sub-Saharan Africa and fundraising opportunities. Investor sentiments remain that sub-Saharan Africa is still rebounding from the economic challenges of 2015 and 2016, but the focus for entrepreneurs and private equity managers should be on the oil importers and emerging Francophone Africa.
Peter Pedroncelli, 5:44 am
The London Stock Exchange has committed to raising capital for Kenya’s energy industry, with the first ever memorandum of understanding signed between the London bourse and the East African government. The agreement was signed by Charles Keter, Kenyan cabinet secretary for energy and petroleum, and Nikhil Rathi, chief executive officer, London Stock Exchange plc. The memorandum sets out the commitment from both sides regarding the raising of funds to benefit the country’s energy industry, through public market equity and debt listings.
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