Norway Sovereign Wealth Fund Finally Invests In Renewable Energy
The worlds largest sovereign wealth fund, The Norwegian Government Pension Fund, has invested in renewable energy after years in the oil and gas sector. Through the Norges Bank Investment Management, the fund acquired a 50% stake at the cost of 1,374 Million Euros of the Borssele 1&2 Offshore Wind Farm. The offshore wind farm located in the Netherlands is the second-largest in the world and can generate up to 752 MW of wind power.
Total Signs $15 Billion East Africa Crude Oil Project with Uganda Tanzania
Total has signed a $15 billion East Africa Crude Oil Project (EACOP) with Uganda and Tanzania, fifteen years after the former discovered commercially-viable crude oil deposits. The 1,445-kilometre heated pipeline [...]KenGen Earns KSh440 Million from Geothermal Tender in Ethiopia
Kenya Electricity Generating Company (KenGen) has earnedKSh440.34 millionfrom drilling geothermal wells in Ethiopia. The company bagged the contract in 2019 to facilitate commercial consultancy and drilling services with Tulu Moye [...]Kenya Plans KSh 36 Billion Rescue Package for Loss-Making State-Owned Entities
Kenya's Treasury Cabinet Secretary Ukur Yatani
GDC Receives US$ 692,000 from New Zealand for Power Plant
Geothermal Development Company(GDC) will receive( $692,000) KSh 76 Million from New Zealand to strengthen its technical and managerial capacities in geothermal steam operations at the Menengai Geothermal Field. According to [...]Total Kenya's Profit Soars 30% to KSh 3.3 Billion
Total Kenya's net profit for the year 2020 rose by 30% to KSh3.3 billion from KSh2.5 billion in 2019, despite a turbulent year. The company's revenue from the sale of [...]
Parliamentary Committee Mulls Reviews on Fuel Taxes as Kenyans Lament High Fuel Prices
The National Assembly's Energy Committee is considering a review on fuel taxes, following the sharp rise in pump prices in the March Energy and Petroleum Regulatory Authority (EPRA) reviews. Media [...]Kenya Eyes Power Trade Business with New Grid Network
Kenya sets eyes on the power trade business with recent efforts to improve its grid network to connect with its neighbours. One of the two major grid networks, The Olkaria [...]Uganda's Umeme Limited Warns of up to 60% Net Profit Decline for FY 2020
Umeme Limited has issued a profit warning to shareholders, cautioning that it expects a net profit decline of up to 60% for the year ending 31 December 2020, compared to [...]AECF Launches $1.2m Innovation Fund to Support Kenyan Renewable Energy Businesses
The African Enterprise Challenge Fund (AECF) has launched a $1.2 million innovation fund to support entrepreneurs in the local renewable energy space to start and diversify their business. The fund [...]GDC Receives $5 Million Grant from AU for Geothermal Exploration
Kenya's state-owned Geothermal Development Corporation (GDC) has secured a $5 million grant from the African Union (AU) for geothermal exploration of the Paka Geothermal Project in Baringo. The move comes [...]Electricity Cost Rises by KSh1.20 Per Unit
Kenya Power has announced that electricity cost in March has risen by KSh1.20 per unit, including taxes, on the backdrop of increased compensation to expensive diesel plants. This pushes the [...]
