Market News

Sumitomo Corporation, a Japan based firm is set to construct a thermal power power plant in Mozambique with future expansion plans in neighbouring Tanzania.   Sumitomo aims to expand its power generation business in the African continent and has partnered with heavy industry group IHI on a $1 . . .

 Ethiopia has announced that it will continue with the construction of the Renaissance Dam to its completion. The country’s minister of Water, Irrigation and Energy, Motuma Mekasa has told the media that there is no reason to halt the construction of the dam.   Mekasa denied accusa . . .

 A new report by Global Wind Energy Council (GWEC) shows a capacity increase in installed wind energy in South Africa to above 1 GW last year.Wind energy in South Africa This makes South Africa the largest producer of wind energy, followed by Morocco whose installed capacity stood at 787 MW in . . .

 Electricity Utility firm Kenya Power which owns and operates most of the electricity transmission and distribution system in Kenya has announced that it has almost doubled its electricity exports to Uganda and Tanzania since it increased generation of geothermal energy in Kenya national grid. . . .

 President Barrack Obama has signed into law the Power Africa deal a move aimed at expanding electricity to millions of households in sub-Saharan Africa. This measure has been widely supported as it is a game-changer in saving lives and accelerating growth on the continent.   The Electri . . .