Tullow’s Ambitious Kenya Oil Project: Unveiling the Economic Impact and Development Prospects

Tullow Oil, a British oil exploration company, has confirmed its commitment to investing Sh1.6 billion annually (approximately $10 million) in Kenya’s oil project.  Despite facing challenges, including partner withdrawals, Tullow maintains its spending, now owning 100% of the project. The company submitted an updated Field Development Plan in March 2023, currently under review by the…

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Kenya’s Shift from G2G Oil Deal: Unraveling FX Market Dynamics

The Government-to-Government(G2G) oil agreement, between the Kenyan government and three Gulf state-owned companies, allowed Kenya to import oil on credit, delaying payments to international suppliers by six months. Designed to alleviate dollar demand and strengthen the Kenyan shilling, the oil agreement has faced criticism for its role in retail price increases, irregular supplies, tax losses,…

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Husk Power Systems Secures US$43mn in Series D Funding to Electrify Rural Communities in Africa

Husk Power Systems (Husk), a leading provider of renewable energy services to rural communities in sub-Saharan Africa and South Asia, has closed $43 million in Series D funding. The new investment will help Husk to expand its fleet of solar hybrid minigrids eight-fold, adding over 1,400 new minigrids with a projected 300,000 new connections over…

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Africa Energy Week 2023: A Fossil Fuel Jamboree Masquerading as an Energy Renaissance

Africa Energy Week (AEW) 2023, billed as the “biggest energy event in Africa,” was a four-day from October 16-20  gathering of oil and gas executives, policy-makers, government officials, and investors from around the world. However, the conference’s theme, “The African Energy Renaissance: Prioritising Energy Poverty, People, the Planet, Industrialisation and Free Markets,” was little more…

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CrossBoundary Energy Access and ENGIE Energy Access Partner to Electrify 150,000 People in Nigeria with $60 Million Mini-Grid Project

CrossBoundary Energy Access (CBEA) and ENGIE Energy Access Nigeria (ENGIE) have announced a project finance agreement to build a $60 million portfolio of mini-grids that will connect over 150,000 people to electricity in Nigeria. The agreement is a significant development in the African mini-grid space, as it represents one of the largest private investments in…

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Orange and Koolboks Partner to Provide Solar Freezers in Africa

Orange, a leading telecommunications operator in Africa, has signed a strategic partnership with Koolboks, a startup that provides solar-powered refrigerators and freezers, to provide freezing and refrigeration solutions to 12 African countries. This partnership is a significant step in addressing the energy crisis in Africa, where 600 million people do not have access to electricity….

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