OPIC Commitments to Power Africa have Reached $2.4 Billion to Date. US to invest US$1b in Nigeria’s power sector. ABUJA: Power Africa, an initiative by the United States government to light up Africa, plans to invest about one billion US dollars on the power sector in Nigeria, says programme co-ordinator Andrew Herscowitz. Announcing this at a media conference here Tuesday, he said the US was committed to strengthening the power sector in Nigeria, adding that Washington had already committed billions of dollars in funding the nations energy projects. Power Africa, which was launched by former President Barack Obama in 2013 to increase access to electricity on the continent, is aimed at adding more than 30,000 megawatts (MW) of cleaner, more efficient energy development in sub-Saharan Africa.
Herscowitz said the project also targets unlocking the substantial wind, solar, hydro power, natural gas, biomass, and geothermal resources on the continent. He said that functional power distribution companies were critical to the development of the country. What does Tesla mean for energy in Africa? | Global Development Professionals Network. With only 30% of people in Africa having access to electricity, it’s little wonder Tesla’s Powerwall home-storage batteries are being touted as the next big revolution for African energy. In countries like Nigeria diesel-powered generators are the default back-up for chronic, daily national power cuts.
Tesla’s Powerwall battery works as a back-up that is not reliant on fossil fuels. It stores renewable energy like solar and wind and can last more than 24 hours. All this at no cost other than the upfront cost of the Powerwall itself. For Africa’s energy consumers and low-income groups, affordability is the main hurdle for the Powerwall’s adoption.
Other new energy solutions have proved cost-effective, for instance, mobile pay-as-you-go solar power services. But Tesla’s storage solution could help accelerate Africa’s permanent transition from fossil fuels to renewable energy, thus aiding the continent’s fight against environmentally destructive greenhouse gas emissions. US firm completes financing for coal and power project in Niger. NIAMEY (Reuters) - U.S. -firm Source California Energy Services (SCES) has completed financing for a 740 billion CFA francs ($1.2 billion) open-cast coal and power project in Niger to produce 600 megawatts for the national grid, the company said. The project at Salkadamna in the Tahoua region of Niger about 900 km (600 miles) northeast of the capital Niamey has coal reserves of around 69 million tonnes and will also be able to produce around 100,000 tonnes of charcoal bricks a year.
"The financing for the construction of the Salkadamna coal plant is complete. We are able to begin the project," said SCES president David McMillan after an meeting on Monday with Niger President Issoufou Mahamadou. He gave no start date for operations but said it would run for 40 years and employ thousands. The charcoal bricks could help stop desertification in Niger, three quarters of whose area is desert. GE announces new US$200mn Egyptian training facility. GE CEO Jeffrey Immelt announced the plans to build the centre at the Egypt Economic Development Conference in Sharm El Sheikh last week. (Image source: JD Lasica/Flickr) The CEO of the American-based multinational conglomerate, Jeffrey Immelt, announced the plans at the Egypt Economic Development Conference in Sharm El Sheikh last week.
The facility will focus on the power generation, renewable energy, water, oil & gas, aviation, healthcare and rail transportation industry sectors, and will provide jobs for around 500 skilled Egyptian professionals in the next three to five years, the company said. Announcing the plans, Immelt said, “The new multimodal facility will deliver strong economic and social value to the country by supporting key high-growth industry sectors and SMEs in the Egyptian supply chain. “By training the new generation of professionals and focusing on localized innovation, we are creating a talent pool who can provide customized engineering solutions. American Investors to Inject 100mw Electricity in Nigeria, Articles | THISDAY LIVE. Power station Yemi Akinsuyi in Abuja The federal government quest to attract investment into the energy sector and boost electricity supply in the country has received additional boost, as a consortium of American Investors has indicated interest to invest in Nigeria and help develop the power sector.
The value of the proposed renewable energy investment is about $212 million and is expected to come on stream by the third quarter of 2015 to inject about 100 megawatts of electricity into the national grid. The companies that have indicated interest in the project are Global Business Resources USA, Global Resources Network USA, Flatbush Solar USA and Charbourne & Parke, LLP USA. The Group, which was led by Executive Partner of Global Business Resources, USA, Mr. James Nicholas made its intentions known during a courtesy visit to the Executive Secretary of the Nigerian Investment Promotion Commission (NIPC), Mrs.
Saratov Umar. US moves ahead on massive Africa power bid | African News. WASHINGTON — US lawmakers on Thursday broke through a logjam on a plan to bring electricity to 50-million Africans, in what Washington hopes will be its next major initiative for the continent. President Barack Obama, on a visit to Africa in June, announced a US drive to deliver power to the two-thirds of Africans who lack a reliable supply. But legislation in Congress, which is more concrete and ambitious than Mr Obama’s initial statement, has been held up by a dispute on whether to support electrical plants that produce large amounts of carbon blamed for climate change. The bill, approved by the House foreign affairs committee and sent to the full House, sets a goal of installing 20,000MW of power in sub-Saharan Africa by 2020 and reaching at least 50-million people who do not have electricity.
The funding would come from the private sector, using government-backed credit guarantees. Picture: THINKSTOCK. Power Africa Opportunities for International Companies. January 30, 2014 The Obama Administration's Power Africa initiative creates business opportunities for non-US companies seeking to engage in the power sector within Africa. While there is the assumption that the initiative is limited to US companies, there are in fact very real opportunities for international companies to benefit from Power Africa. Indeed, in many ways, it is implicit that Power Africa must envision participation by non-US firms. The sheer size of needed investment in power infrastructure in sub-Saharan Africa -- estimated at $300 billion to provide universal access to electricity by 2030 -- is far greater than any one country can attempt to take on alone.
Further, the deployment of the needed capital assumes a global effort, with active participation by many different players, including other international development and aid agencies, host government agencies, other donor countries and non-US power and construction firms. Africa: Power Sector is Ready for 'Stampede' of Investment - General Electric (Page 1 of 4)
Photo: GE Nigeria Ground breaking at GE plant in Calabar. Abuja — The U.S. -based multinational General Electric, which points to a 100-year record of involvement in Africa, is one of the companies participating in the Power Africa initiative, announced during President Obama's Africa visit, designed to double access to electricity across sub Saharan Africa. GE is expanding operations in several places, perhaps most aggressively in Nigeria. Last year, GE and the Federal Government of Nigeria signed three Memorandum of Understanding agreements (MOUs) outlining cooperation in the energy, healthcare and rail transportation sectors. Ground-breaking for a U.S.$250 million manufacturing facility in the port city of Calabar took place two weeks ago. Why has GE decided to enlarge operations in Nigeria? This is a country where the GE portfolio - the full GE portfolio - fits perfectly in terms of the need of the country and the capabilities of the country.
What is the scale of GE's investment? General Electric to construct manufacturing plant in Calabar - Radar Nigeria | Radar Nigeria. General Electric (GE) is set to commence work on the construction of its multi-billion naira engineering manufacturing plant at the Calabar Free Trade Zone, Sadiq Kasim, general manager of the zone, said. Kasim, who spoke at the National Good Governance Tour team in Calabar on Tuesday, said that the management of the zone and the company had finalised arrangements for construction work to commence on the construction of the factory at the free trade zone. Kasim said the company had promised that it would, in the first phase of the project, invest more than N250 million in the establishment of the plant. “Any moment from now, work on the site of GE’s engineering manufacturing plant will commence.
We have given them land and very soon their engineers will mobilise to site and start work; they said they will be committing about N250 million in the first phase,’’ he said. Maku described GE’s investment in the manufacturing plant as unprecedented. Chevron group to invest US$1 billion in Angola over next five years. May 7th, 2013 News US oil group Chevron plans to increase its investments in oil production in Angola over the next five years to US$1 billion, an official from the group’s Angolan subsidiary said in New Orleans.
At a business forum in the US city, Bernardo Domingos, of the Cabinda Gulf Oil Company, said that the investment would lead to production of 600,000 barrels of oil per day. According to newspaper Jornal de Angola, the company expects to increase its production in 2015 when it will launch exploration at the Mafumeira Sul project, with capacity to produce 110,000 barrels of oil per day. This project has a gas burning torch, two well platforms and on accommodation/services platform and will employ 234 workers, 202 of which will be Angolan and 32 foreigners. The processing centre is installed in the Mafumeira field, which will receive the crude oil produced by the two platforms and will then separate the gas from the water.
Related News: Eni-Anadarko African LNG Plant to Be World’s Second-Largest. Eni SpA (ENI) and Anadarko Petroleum Corp. (APC) agreed to build the world’s second-largest liquefied natural gas plant in Mozambique to start exporting fuel in 2018. Italy’s largest oil company and Anadarko will coordinate development of gas fields and cooperate in the construction of the plant in the Cabo Delgado province of northern Mozambique, which could have an eventual capacity of about 50 million tons a year, The Woodlands, Texas-based company said today in a statement. That would make it the largest LNG plant outside Qatar, the world’s biggest exporter of the fuel. Mozambique’s offshore fields may hold as much as 250 trillion cubic feet of gas, enough to meet world consumption for more than two years, according to national oil company Empresa Nacional de Hidrocarbonetos. Mozambique is competing with neighbor Tanzania to produce East Africa’s first LNG. Statoil ASA (STL) and Exxon Mobil Corp.
Africa Rises Awarded Contracts. Parc national de production d'électriricté : GE bien parti. Rédaction Radionet - Jeudi, 28 Février 2013 15:46 La compagnie américaine General Electric (GE) est bien partie ce jeudi pour remporter le projet relatif au renforcement du parc national de production d'électricité qui prévoit une capacité additionnelle de 8.400 MW à l'horizon 2017. La firme américaine a présenté la meilleure offre en matière de coût de l'investissement et du Kw/heure relative à l'appel d'offre lié à cet ambitieux programme. Elle a ainsi proposé un coût à hauteur de 1,868 milliard de dollars, pour la partie devise, et 3,602 milliards de dinars, pour la partie en monnaie nationale, ainsi qu'un tarif Kw/heure de 2,27 DA. Son concurrent, l'Allemand Siemens a, lui, avancé un coût de 1,931 milliard d'euros (environ 2,6 mds USD) et un tarif de Kw/heure de 2,41 DA. L'appel d'offre relatif au programme de renforcement du parc national de production d'électricité est composé de deux lots.
Nigerian Govt Sign $1Billion Plant Deal With General Electric. General Electric AFRICANGLOBE – The Federal Government and General Electric (GE) Company of the United States Thursrday sealed a $1 billion (N158 billion) investment deal on the establishment of a new manufacturing and assembly facility in Calabar, the Cross River State capital. The investment milestone also came on a day an indigenous power company, Geometric Power Limited signed a Joint Development Agreement (JDA) with US power firm, General Electric Company (GE) for the development of a 450 megawatts (MW) thermal power plant to be sited in Aba, Abia State. Speaking on the $1 billion deal, the country’s Minister of Trade and Investment, Mr.
Olusegun Aganga, who signed the Memorandum of Understanding (MoU) on behalf of the Federal Government, with the Global Chairman and Chief Executive Officer of General Electric, Mr. The deal will also support the company’s power generation, oil and gas production and exploration activities. “The days for exporting raw materials and jobs are gone. Cedecorp to build second Cameroon oil refinery | Hydrocarbon Processing | October 2012. By EMMANUEL TUMANJONG YAOUNDE, Cameroon -- Cedecorp S.A. will construct Cameroon's second refinery, giving the West African nation the chance of refining its own heavy crude, state-run Cameroon Radio Television reported Sunday. An agreement between the company's representative Michael Eppler and Cameroon's Minister of Energy and Water Resources Basile Atangana Kouna was signed Thursday.
According to the terms of the accord, which is based on a build, operate and transfer agreement, Cedecorp will take 30 months to construct the new refinery on an area of 500 hectares in the Atlantic port town of Kribi, located some 300 kilometers southwest of Yaounde. The new processing plant will produce between 200 and 300 bpd of refined fuel and Cedecorp will run the refinery for 10 years before handing it over to Cameroon. The project will be entirely funded by Texas firm Refinery Technology, although the cost of the construction wasn't disclosed.
Dow Jones Newswires.
UPDATE 2-Nigeria, GE in power investment accord. GE sees double-digit revenue growth in Africa. By David Dolan ADDIS ABABA (Reuters) - General Electric Co sees double-digit revenue growth in its Africa business over the next few years, its regional head said on Friday, as the U.S. firm targets rising demand for heavy equipment and power projects on the growing continent. Jay Ireland, GE's Africa chief executive, also told Reuters the company sees more opportunities in frontier African markets such as Ethiopia, Cameroon, Zambia and Mozambique. Currently Africa contributes about 1 percent of GE's overall revenue, or around $1.8 billion, Ireland said in an interview on the sidelines of the World Economic Forum on Africa taking place this week in Ethiopia.
"We've got a line of sight for continued good double-digit growth over the next three to five years in both revenue and orders," he said. To scout for opportunities, the leading U.S. conglomerate is basing more senior executives in Africa, Ireland said. "In the oil and gas business we're equipment suppliers.