By Abdullahi Mohammed
GE Power will design, manufacture and deliver its market-leading Ultra Super-Critical clean coal technology components (boiler and steam turbine generator) and air quality controls systems for the Lamu Coal Power Plant
Gulf Energy the developer of the 1050Mw Lamu Coal Power Plant (Amu Power) the largest private sector led infrastructure project in East and Central Africa, has today entered into a Clean Coal Technology agreement with General Electric (GE) that will see the plant use GE’s Ultra-Supercritical Clean Coal Technology making it one of the most technologically advanced coal fired power plants in the world. Amu Power is the special purpose company that will own and operate the 1,050 MW coal fired power plant in Lamu County, Kenya, under the Public Private Partnership (“PPP”) framework.
The agreement was signed at Nairobi, Ministry of Energy offices in Nyayo House in the presence of Hon. Charles Keter, the Cabinet Secretary, Ministry of Energy (MoE), Dr. Eng. Joseph Njoroge, the Principal Secretary, State Department of Energy, Mr. Jim Rigassio, the Commercial Counsellor in the US Embassy (Kenya), Mr. Pushpinder Dhillon, the Counsellor for Economic Affairs in the US Embassy (Kenya); by the Managing Director of Amu Power Company Limited, Mr. Francis Njogu and Mr. Jay Ireland the President and CEO, GE Africa. Others in attendance included the Ministry’s staff, Amu Power staff and GE staff.
The Agreement will also see GE through its affiliates acquire a stake in the equity of Amu Power, subject to obtaining regulatory, board and lenders’ approval. Under the Agreement, GE Power will design, manufacture and deliver its market-leading Ultra Super-Critical clean coal technology components (boiler and steam turbine generator) and air quality controls systems for the Lamu Coal Power Plant.
In a briefing to H.E President Uhuru Kenyatta at State House following the signing, the parties informed H.E the President that GE’s Ultra-Supercritical technology will guarantee a clean environment through elimination of emissions, and lower the overall cost of power generation in the country. The parties further noted that upon completion, the Lamu Coal Fired Power Plant will be the single largest Independent Power Producer (IPP) in the region and will account for up to 30% of power generation capacity in Kenya.
Francis Njogu, Amu Power Managing Director said, “This is truly a historic moment for Kenya and the East African region as a whole. We are confident that this partnership forged today will go a long way to position Kenya as an Industrial hub in the continent. Kenya has been looking for ways to enhance its generation mix to provide the most efficient, least-cost and reliable power in a sustainable manner; and the technology offered by GE gives us a unique opportunity to achieve this ambition.”
The Lamu Coal Fired Power Plant will be a key player in supporting the realization of the Government of Kenya’s (GOK’s) ‘Big Four’ agenda, specifically in the manufacturing sector by providing steady, reliable and affordable power. The sector’s growth will create new employment opportunities every year that the Kenyan workforce will benefit from.
Statistics show that connections to the national grid grew to 6.2 million in 2017 up from one million in 2010. As the country transitions into a middle-income economy by 2030, supply of adequate, reliable and affordable energy is a key foundation.
George Njenga, the Commercial Leader, GE Steam Power, Sub-Saharan Africa said, “Kenya’s energy demands are growing as the government seeks to implement its critical ‘Big Four’ agenda. GE Ultra Super-Critical Coal Power technology will deliver cleaner, affordable, reliable and efficient solutions as well as critical power to help meet the country’s growing needs.”
GE’s Ultra Super-Critical technology keeps raising the efficiency bar of coal power plants and has reached 47.5% efficiency in the world’s most efficient coal power plant in Germany. GE Power’s best in class power generation technology is currently in operation in new generation steam plants like the Manjung 4 in Malaysia as well as future plants like the Hassyan in Dubai.
The Lamu Coal Fired Power Plant project is part of the GOK’s vital and crucial initiative in the energy sector to address present electricity affordability and reliability challenges. At a tariff of US Cents 7.81/kWh, the Lamu Coal Fired Power Plant will provide base-load capacity at the lowest non-subsidized tariff in the country. Additionally, it will have the flexibility to profile the generation according to the daily demand pattern, compared to other power production technologies that are inflexible; reducing generation costs by 12% – 36%.
Oradian and ANMFIN launch new cloud-based microfinance solution in Nigeria
By Abdullahi Mohammed
The partnership will enable ANMFIN to promote access to financial services for Nigerian clients on a larger scale by using ANMFIN Cloud Express
As part of their shared mission to boost financial inclusion throughout Nigeria, Oradian and the Association of Non Bank Microfinance Institution of Nigeria (ANMFIN) have launched a strategic partnership.
Princess Adesola Ogunleye, the President of ANMFIN, commented on the partnership saying, “We are extremely pleased to partner with Oradian. Together we align our shared vision and leverage the success delivered to date. The partnership will enable all of our MFIs to move to Oradian’s cloud-based solution, helping our members to save time and money through more efficient, digitised processes – no more manual input of data. We and our members are very excited to improve administrative process, reduce high operational costs and offer digital financial services across the country.”
Launching ANMFIN Cloud Express expands the range of solutions that Oradian offers in Nigeria. As stated by Antonio Separovic, CEO of Oradian, “Nigeria was Oradian’s first market when we started Oradian six years ago and we remain committed to solving the financial inclusion challenge here. This partnership is a long-term partnership that is an important step towards this goal”.
The partnership will enable ANMFIN to promote access to financial services for Nigerian clients on a larger scale by using ANMFIN Cloud Express, a core banking system specially built for ANMFIN and its microfinance institution (MFI) members. ANMFIN Cloud Express, powered by Instafin, is a cloud-based toolset tailored to enable smaller Nigerian microfinance institutions (MFIs) to benefit from a cloud-based solution.
According to Oradian’s Programme Director for Africa Onyeka Adibeli, “ANMFIN Cloud Express enhances MFIs’ ability to manage all operations including client relationships, transactions, portfolio management and reporting in the same way that large banks do – but at a fraction of the cost. We are removing the barriers that prevent MFIs from using the right technology to serve their clients and to strengthen their operations.”
With a cost and a system tailored for the needs of smaller MFIs, Oradian’s partnership with ANMFIN enables more financial institutions to take advantage of technology to become more efficient, grow and reach more unbanked individuals in rural communities.
Vantage GreenX Note II provides R2bn of funding to six renewable energy projects in South Africa
By Abdullahi Mohammed
GreenX Note II is Vantage GreenX’s second generation renewable energy debt fund
Vantage GreenX Fund Managers announced today that through its second renewable energy fund, Vantage GreenX Note II, it has provided R2.05bn of funding to a combination of six solar and wind energy projects with a combined capacity of 433MW. All the projects form part of Round 4 of the South African Renewable Energy Independent Power Producer (“REIPP”) procurement programme.
The GreenX funding was provided to four projects developed by BioTherm Energy and two projects developed by OMLACSA and ACED. All six projects reached financial close in the last two weeks of July 2018. The four BioTherm projects are the 86MW Konkoonsies II solar PV project (Northern Cape), the 45MW Aggenys solar PV project (Northern Cape), the 120MW Golden Valley wind project (Eastern Cape) and the 32MW Excelsior wind project (Western Cape). The two OMLACSA projects are the 75MW Droogfontein II solar PV project (Northern Cape) and the 75MW Zeerust solar PV project (North West).
GreenX Note II is Vantage GreenX’s second generation renewable energy debt fund. The R3bn fund has a mandate to provide Consumer Price Indexed (“CPI”) linked senior debt to sustainable projects that form part of the REIPP, Small Projects Independent Power Producers (“SPIPP”), Co-Gen and Gas procurement programmes run by the South African Department of Energy. CPI-linked debt, although not new to the local market, has for the first time provided a significant portion of the total senior funding to projects in this round. Due to the way it is structured, CPI-linked debt provides a hedge against inflation and it allows projects to bid lower tariffs for similar equity returns. In doing so it has ensured that affordable electricity tariffs are passed on to consumers.
Alastair Campbell, Managing Director of Vantage GreenX, said “It is with great pleasure that we announce that we have supported these six projects. Each of these projects has strong, experienced sponsors and solid project fundamentals. Together they represent a geographically diverse portfolio of assets. Despite the difficulties experienced by stakeholders in the industry over the last two years, we hope that the conclusion of this round of projects represents a watershed moment for the South African renewable energy industry and provides forward momentum to the sustainability of the domestic energy sector as a whole.”
The R2.1bn GreenX Note I is fully invested across eight solar and wind projects located in the South African provinces of the Eastern Cape, Northern Cape and Limpopo. The completion of the six GreenX Note II transactions takes the total number of investments made by GreenX to fourteen across the two funds. Vantage anticipates lending the remaining R1bn in GreenX Note II before the end of this year.
African Daily Voice (ADV), a new panafrican news agency is born
By Abdullahi Mohammed
African Daily Voice (ADV) will provide comprehensive coverage in text, photo, video and computer graphics of African news
The African Daily Voice Group announced on Monday the launch of a new continental news agency: ADV
Based in Malabo, Equatorial Guinea, the multinational company specialized in content, and the media, has a newsroom in Casablanca (Morocco) and offers multilingual services (French, English, Arabic).
“Information networks remain dominated in our countries by Western media. Their stories of African events do not always reflect the true identity of our people, our cultures, and our languages,” says Toussaint Alain, African Daily Voice CEO’s. “They impose their own vision of the world, anxious above all to preserve their interests.”
Alain believes that “this situation is not without risks. We can no longer leave these agencies alone to inform the African public of what is happening in Africa or elsewhere. Events, their genesis and evolution are rarely presented to the outside world objectively and accurately. Images of a miserable Africa continues to persist in the Western press.
That said, “the independence of information, and the plurality of sources are of the same importance today as the struggle against imperialism and neo-colonialism. They play a vital role in the process of political, social, economic and cultural liberation of our continent,” Toussaint Alain says
Driven by a long-term vision for Africa, the founders and investors of the new media group rely exclusively on African skills to develop two-way content, based on pure information, but also on interaction between people and institutions.
To take up the challenge in a very competitive market, ADV has structured around ten regional desks: Algiers (Algeria), Abidjan (Ivory Coast), Douala (Cameroon), Kinshasa (DRC), Bangui (RCA), Johannesburg (South Africa), Addis Ababa (Ethiopia), Lagos (Nigeria), Dakar (Senegal) and Antananarivo (Madagascar). These pools are responsible for collecting, processing and disseminating information in the regions concerned.
ADV teams will be covering African events around the clock with professionalism. “Our reporters will strive to ensure that reliability, objectivity and neutrality are respected. Our vocation is to become a strong brand, which will highlight its pan-African and civic role, “says Toussaint Alain.
Through its network of correspondents, ADV will provide comprehensive coverage in text, photo, video and computer graphics of African news. All themes will be covered: politics, economy, environment, culture, media, high-tech and technology, social events, major continental or world sports events, etc.
Available in French, English and Arabic, ADV products and services will be available via a website, a newsletter and an application on tablets and smartphones. ADV will also be present on social media: Twitter, Facebook, YouTube, Instagram and Google+. The agency will also use instant messaging applications to communicate with users via these platforms.
Last but not least, ADV aims to consolidate its continental and international presence. “Thanks to cooperation agreements, we are considering the full deployment of our agency worldwide, particularly in Asia, Europe and America. We will therefore rely on a network of media partners in Africa and outside the continent,” concludes Toussaint Alain.
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