Browsing: renewable energy
Green energy in Africa will receive a significant boost as the UAE is set to fuel Africa’s potential with a USD 4.5 billion finance initiative.
KarmSolar, an Egyptian solar energy firm, has received USD 2.42 million in funding from Qatar National Bank ALAHLI (QNB ALAHLI).
South Africa’s REIPPP is facing challenges as a result of the global energy crisis.
International project developers and private equity firms have pledged to invest USD 32 billion in green hydrogen and ammonia projects in Egypt’s Suez Canal Economic Zone (SCZONE). This follows on from USD 10 billion pledged in May.
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.
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.
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.
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 Kingdom of Morocco is aiming to increase its renewable energy output to 12 gigawatts by 2030, according to government sources. The announcement was made at the World Utilities Congress in Abu Dhabi.