Dubai-based holding company, Equitane, has its sights set on becoming a key player in Africa’s industrial transformation. Their ambitious plan focuses on establishing a leading position in both manufacturing and renewable energy across the continent. This move not only represents a significant expansion for Equitane, but also holds the potential to significantly impact Africa’s economic…
The urgency of addressing climate change grows ever more pressing. As the world grapples with environmental degradation and rising temperatures, a critical shift is taking place within the financial sector. Banks are emerging as powerful agents of change, playing a transformative role in driving the transition towards green energy solutions. The traditional banking landscape is…
The United Arab Emirates (UAE), a nation long associated with its vast oil and gas reserves, is embarking on a groundbreaking shift in its energy strategy. Hydrogen, a clean-burning fuel with the potential to revolutionize global energy consumption, has taken center stage as the “fifth wave” of the UAE’s ambitious clean energy drive. This strategic…
Kenya is at a crossroads with a proposal for a 5% tax on infrastructure and green bonds, sparking a debate over balancing economic and environmental goals. While the tax aims to diversify revenue streams and support environmentally friendly projects, its potential impact on the green bond market raises concerns. The proposed tax has environmental advocates…
A substantial $41 billion investment in green energy in Suez, Egypt, is poised to revolutionize the region’s energy landscape. This investment represents pivotal agreements between GECF, AFREC, and ERIA, laying the groundwork for a sustainable future. Exploring the potential for job creation within the renewable energy sector offers promising employment opportunities. This investment not only…
Vestas, a prominent wind turbine manufacturer, made news by selling its 12.5% stake in Kenya’s Lake Turkana Wind Power project to a BlackRock-managed partnership. This decision carries considerable implications for Kenya’s renewable energy landscape, considering the project’s vital role in the country’s sustainable energy ambitions. Vestas’ decision to sell its stake in the Lake Turkana…
SkyPower Global and Africa Finance Corporation (AFC) have teamed up to support the Democratic Republic of Congo’s (DRC) renewable energy goals. The Green Giant project, a 200MW solar power plant, is a crucial step towards the larger 1,000MW Solar Power Purchase Agreement (PPA) with the DRC’s state-owned utility. This project showcases the diversity of renewable…
President Nana Addo Dankwa Akufo-Addo has made a significant commitment to boost Ghana’s solar power capacity. Despite the country’s ample sunlight, with high levels of solar irradiation (5.524 kwh/m2/day) nationwide, solar energy presently contributes only 1% to the nation’s energy mix. The President has vowed to raise this capacity from the current 22.5MW to 250MW…
President Ruto has pledged to transition the country to green energy by tripling renewable energy capacity, doubling energy efficiency, and reducing fossil fuel dependency by 2030. Kenya has already made substantial progress in this direction, with 80% of its grid powered by low-carbon sources and a target to achieve 100% renewable energy by 2030. This…
The Climate Investment Funds (CIF) has endorsed a $70 million plan to help Kenya achieve 100 percent clean energy in its power system by 2030. The funding will support improvements in electricity dispatch and grid stability, enabling the country to utilize more solar and wind power sources. The CIF’s endorsement of the plan is crucial…
