Rockefeller Foundation to support climate resilient infrastructure in Africa with USD 5.5 million collaboration
The Rockefeller Foundation will work with e-GUIDE and Atlas AI to promote climate resilient infrastructure investment and economic development.
The SA Investment Conference has achieved 95% of its investment drive goals, according to South African President Cyril Ramaphosa.
ACWA Power signs deal worth up to USD 1.5 billion that will provide power to over 1 million households in partnership with Hassan Allam Holding.
Saudi Crown Prince Mohammed bin Salman to visit Egypt as start of regional tour
Saudi Crown Prince Mohammed bin Salman is set to embark on a regional tour to bolster international co-operation.
According to a report by Apicorp, energy investments over the next five years are set to grow by 9% to each USD 879 billion as exporters boost spending on the back of higher oil revenues.
Renewables: UAE-Egypt consortium to buy Lekela for close to USD 1 billion
Masdar, Abu Dhabi’s sovereign investment company’s green energy producer, and Egypt’s Infinity Energy are set to buy a majority stake in South Africa’s Lekela Power. The deal would involve buying private equity firm Actis’ stake, in a deal valued near USD 1 billion.
Egyptian energy sector expects USD 8 billion in investments in 2022, targets green overhaul
Egypt’s Minister of Petroleum and Mineral Resources, Tarek El-Molla, recently announced that the country expects to see investments of between USD 7 billion and USD 8 billion in the country’s energy sector in the current fiscal year.
In an effort to further renewable energy development SCzone, Egypt’s sovereign wealth fund, has signed a deal to implement the production of 300,000 tons of green ammonia.
The move comes as a continuation of ongoing investments made by Gulf states in the Egyptian economy as it suffers from the impact of the Ukraine war.
he Democratic Republic of Congo’s (DRC) state electricity company, Société Nationale d’Électricité (SNEL), and Dubai-based independent power producer, AMEA Power, have signed a Memorandum of Understanding (MoU) to begin exploring the production of 30 megawatts of power in the DRC.