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Norwegian renewable energy giant, Scatec ASA, has announced that it has signed a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) regarding the Obelisk hybrid solar project. In a statement by Scatec, the company also noted that it has secured $479 million in financing for the Obelisk hybrid solar project in Egypt. …
Global oil prices jumped above $70 per barrel for the first time in six months following Israel’s targeted airstrikes on Iran, reigniting fears of a wider conflict in the Middle East. Brent futures rose as high as $74.43 per barrel and WTI to $73.8 on Friday, June 13, as traders reacted to heightened geopolitical risks…
The Lake Turkana Wind Power (LTWP) project supplied 1,367 gigawatt hours (GWh) of electricity to Kenya’s national grid in 2024, accounting for 10.89% of the country’s total power generation during the year. According to its latest sustainability report, the project also helped prevent the emission of an estimated 574,547 tonnes of carbon dioxide, contributing to…
Namibia is set to break ground on the construction of the 100 megawatt (MW) Sores-Gaib Power Station. The project, led by the state power utility NamPower, will be the largest solar photovoltaic (PV) power station in the country and is a vital step in the country’s efforts to reduce dependence on imported electricity and expand…
Egyptian fertilizer producers were forced to halt operations on Friday due to a sharp decline in natural gas imports from Israel, as tensions between Israel and Iran escalated. The supply disruption followed the suspension of operations at major Israeli gas fields after Israel launched military strikes on Iranian nuclear facilities and missile factories. To stabilize…
The Nairobi stock exchange (NSE) has resumed trading of Umeme Limited’s stocks following the company’s publication of its 2024 fiscal year financial results. The NSE decision mirrors that of the Uganda Securities Exchange (USE) which suspended trading of the company’s stocks on 31st March, 2025. blication of its 2024 fiscal year financial results. The NSE…
Egypt has signed agreements to purchase between 150 and 160 cargoes of Liquefied Natural Gas (LNG) through 2026, marking its largest import deal yet as it struggles to meet domestic energy demands and manage ongoing electricity blackouts. Industry sources familiar with the matter said the cargoes will cost over $8 billion at current prices, even…
Italian energy giant Eni has confirmed that the Coral Norte liquefied natural gas (LNG) production project in the Rovuma basin is now a reality after it was approved by the government. Eni’s CEO, Claudio Descalzi, made this known during a press briefing on Wednesday after meeting with President Daniel Chapo in the capital city of…
The African Development Bank (AfDB) has approved a $184.1 million financing package for the development of the Obelisk 1-gigawatt solar photovoltaic project and a 200 mega watt (MW) battery energy storage system in Egypt. The project, estimated to cost more than $590 million, will be Africa’s largest solar power plant and is located in Qena…
Russian President Vladimir Putin has officially ratified an agreement with the Republic of Congo for the construction of a strategic oil pipeline that will span from Pointe-Noire to Maloukou–Trechot, passing through Loutete. The announcement was confirmed in a statement released by the Kremlin. Although the pipeline agreement was initially signed in Moscow on September 2024,…
The government of Mozambique is seeking $5 billion in financing for the construction of the Mphanda Nkuwa (MNK) hydroelectric project. The renewable energy megaproject, billed to cost $5 billion dollars, will be built on the Zambezi River, in Tete province, central Mozambique, with financial completion scheduled for 2027. Mozambique’s government presented the project plan during…
A consortium of Toubro and GE Vernova-Larsen in France will build an advanced National System Control Center (NSCC) for Kenya Electricity Transmission Company (KETRACO) to monitor and manage Kenya’s national electricity grid. In a statement by GE Vernova, the work will include constructing a Main Control Centre building in Embakasi, Nairobi and will feature equipped…
The World Bank approved an impressive $52.6 million financing package for the Gambia Infrastructure Project, prioritizing the energy sector enhancements. This funding targets improved electricity access for over 100,000 Gambians, aligning with the nation’s goal of universal energy access by 2030, according to the World Bank’s official statement. The initiative aims to enhance national interconnection,…
The Angolan government has signed fresh concession agreements with five major oil companies aimed at revitalizing production in the country’s Block 17 oil field. The signing, held on Wednesday, included Angola’s National Oil, Gas and Biofuels Agency (ANPG), state-owned Sonangol, TotalEnergies, Equinor, ExxonMobil, and Azule Energy. These agreements represent a strategic move to extend the…
Ethiopia’s electric vehicle fleet has tripled over the past year, growing from 4,600 in early 2023 to 14,000 EVs in early 2025. Electric vehicles now account for over 60% of new car registrations in 2024, driven by robust government policies and fiscal incentives. This surge positions Ethiopia as a leader in Africa’s transition to sustainable…
The World Bank has approved a $1.5 billion Development Policy Loan (DPL) to support South Africa’s infrastructure, targeting energy and freight transport sectors. This funding supports three priority areas outlined by the South African government, including improving energy security by attracting new investments for energy transmission, energy access, and municipal energy distribution projects, according to…
Turkish power firm operating in Sierra Leone, Karpowership, has served notice to cut power supply to the country’s capital city, Freetown, over a $100 million unpaid debt. In a statement issued by the Sierra Leonean Ministry of Energy, the country confirmed that Karpowership served them a notice on May 28, 2025, that they would disconnect…
Crude oil exports from South Sudan have resumed through Port Sudan, weeks after a series of drone attacks targeted critical infrastructure at the Red Sea facility, South Sudanese officials confirmed. The development comes after a tense period during which the Sudanese government instructed energy firms to prepare for a potential halt in the transit of…
Zimbabwe and Zambia have signed a Memorandum of Understanding (MOU) to jointly develop a new cross border pipeline that will transport refined petroleum products between both countries. The agreement is aimed at reducing the use of road tankers for fuel movement, while improving energy supply and safeguarding road infrastructure. The Zimbabwean Cabinet approved the bilateral…
In a move towards liberalizing its electricity market, Egypt has approved its first-ever private-to-private (P2P) electricity contracts, greenlighting four renewable energy projects with a combined capacity of 400 mega watts (MW). These initiatives not only represent a pivotal shift in how energy is produced and sold in the country but also mark a significant milestone…