The Sustainable Energy Fund for Africa (SEFA) has approved a $1 million grant for modernization of Africa’s aging hydropower fleet.
The grant will fund the mapping and evaluation of African hydropower facilities’ rehabilitation needs. It will also support the preparation of modernization works for two pilot facilities to a bankable stage, a move expected to add 200 MW in generation capacity, create 150 jobs and reduce greenhouse gas emissions by about 300 kilotons of CO2 annually. The modernization of hydropower stations is an opportunity to increase generation capacity at low-cost, and with relatively short lead-times and minimal environmental impact.
“Modern hydropower plays a key role for Africa’s energy transition, reducing reliance on fossil fuels and anchoring larger shares of Variable Renewable Energy sources. This transformative program under SEFA’s Green Baseload component will specifically capitalize on the significant market opportunity for rehabilitation of Africa’s existing hydropower plants”, said Dr. Daniel Schroth, Acting Director for Renewable Energy and Energy Efficiency at the African Development Bank.
The African Development Bank manages SEFA. The project is fully aligned with the Bank’s New Deal on Energy for Africa, which aims to provide universal access to energy for Africans and prioritizes low-carbon technologies that harness the continent’s hydro, solar, geothermal and wind resources.
The program will be implemented in partnership with the International Hydropower Association (IHA), which has participated in similar initiatives in Asia and South America. Alex Campbell, IHA’s Head of Research and Policy said, “We are delighted to support the African Development Bank in this important and urgent project to modernize Africa’s hydropower fleet.”
The BoxCommerce–Mastercard Partnership introduces prepaid cards, giving SMEs instant access to e...
Circular migration is based on structured, value-added mobility between countries of origin and host...
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
BRVM listed the bonds of the FCTC Sonabhy 8.1% 2025–2031, marking Burkina Faso’s first securitiz...
President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...
Ethiopia inaugurated a large cold storage facility for fruits, vegetables, and animal products in Addis Ababa. The $10.9m project targets...
Egypt’s parliament plans legislation to regulate children’s access to social media. Lawmakers aim to limit psychological and behavioral risks linked to...
Algeria issued its first sovereign sukuk worth about $2.3bn to fund development projects. The 7-year sukuk offers a fixed annual return of 6%,...
South Africa is overhauling its automotive policy to strengthen local manufacturing and growth. The review includes tariff changes, battery...
The Khomani Cultural Landscape is a cultural site located in northern South Africa, in the Northern Cape province, near the Kgalagadi Transfrontier Park....
Three African productions secured places among the 22 films competing for the Golden Bear at the 76th Berlin International Film Festival. Berlinale...