Africa’s Renewable Energy Projects Attract More Fund Managers
Fund managers are set to invest in renewable energy projects in the rest of sub-Saharan Africa as returns could outstrip private equity investments in the region, Standard Bank, Africa’s biggest lender by assets, said this week.
“Standard Bank believes Africa will follow the international trend to boost renewable energy’s contribution to national grids as sub-Saharan African nations step up efforts to alleviate their chronic power shortages,” Ntlai Mosiah, the head of power infrastructure at Standard Bank’s Corporate Banking said.
AfDB Invests $25m in Africa's Renewable Energy
The African Development Bank (AfDB) on Friday, said it had approved an equity investment of 25 million dollars into the continent’s renewable Energy Fund (AREF) to fast track energy development.
The bank said that the approval for the investment was given by the bank’s Board of Directors on Wednesday.
Africa needs US$100bn solar power investment
Africa needs to invest about US$100billion in solar power over the next decade if it is to wean itself from sources of energy which are widely regarded as unsustainable, Terje Pilskog, an expert in solar power generation, has said.
“These are enormous investments we are talking about for the next 10 years. We are talking about close to US$100billion in investment needs to meet the target in Africa. In order to make this happen, you will need to mobilise the private sector,” he added.
Mr. Pilskog, who is the Chief Operating Officer of Scatec Solar, a Norwegian energy company that constructed the continent’s largest solar plant in South Africa, was speaking to the B&FT on the sidelines of a meeting between Scatec Solar and stakeholders in the energy sector on lessons that can be drawn from its operations in South Africa.
CfC Stanbic and China's ICBC to fund 83 MW Kenya power project
The heavy fuel oil plant will be built by private power company Triumph Kenya. ICBC will provide $80 million of the debt financing while CfC Stanbic said in a statement it will provide the rest.
Kenya plans to add 5,000 MW of power supply capacity to the existing 1,664 MW generated by
