http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 15.11Change: -0.21
R/$ = 13.43Change: -0.15
Au 1138.18 $/ozChange: -2.87
Pt 1008.00 $/ozChange: 0.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Aug 08, 2012

Kenya Power gets $200m from World Bank for grid

Back
Nairobi|Africa|International Finance Corporation|Projects|Southern Africa|Africa|Kenya|USD|Electricity Network Improvement|Jean Philippe Prosper|Joseph Njoroge|Power|East Africa
|Africa|Projects||Africa|Kenya|||Power|
nairobi|africa-company|international-finance-corporation|projects|southern-africa|africa|kenya|usd|electricity-network-improvement|jean-philippe-prosper|joseph-njoroge|power|east-africa



Kenya Power has secured a $200-million loan from the World Bank's International Finance Corporation (IFC) to invest in its grid, it said on Wednesday.

The firm is the sole transmission and distribution utility in east Africa's largest economy, where blackouts are common due to generation shortfalls and an ageing grid.

Chief Executive Joseph Njoroge said the first tranche of $50-million, which was received immediately, would be invested in and around Nairobi because "there is compelling and urgent need for electricity network improvement".

"We estimate that implementation of projects to be funded under this financing arrangement will be completed by 2014, thereby bringing the much needed relief to customers such as reduction of outages," he said while signing the deal.

Jean Philippe Prosper, IFC's East and Southern Africa Director said Kenya would receive $300-million to $400 million for various projects in the current fiscal year.

Like other African states, the country is required to invest huge sums of money every year to meet growing demand for power, amid robust economic activities.

Kenya Power connected its 2 millionth customer in June this year, under its aim of connecting 200 000 new customers to the grid every year, Njoroge said.

Edited by: Reuters
Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Electricity News
South Africa was firmly committed to adding to its nuclear energy capacity but would only sign an agreement with another country as a supplier if it was affordable and in line with local procurement rules, Energy Minister Tina Joemat-Pettersson told MPs on Tuesday....
DA MP Gordon Mackay
“In today’s sitting of Parliament’s energy committee‚ the Minister of Energy‚ Tina Joemat-Pettersson‚ shamelessly contradicted herself as to the affordability of the nuclear build programme‚” Democratic Alliance (DA) MP Gordon Mackay said on Tuesday. “The minister...
Energy Minister Tina Joemat-Pettersson on Tuesday dismissed reports that the nuclear build programme would cost R1-trillion. “I don’t know where the R1-trillion figure came from,” Joemat-Pettersson told the Portfolio Committee on Energy in Cape Town, “certainly not...
Article contains comments
More
 
 
Latest News
Updated 7 minutes ago The South African Municipal Workers’ Union (SAMWU) has signed a salary agreement with employer body, the South African Local Government Association (SALGA), the union said on Wednesday. ”The signing comes after rigorous mandate taking process to members which...
Updated 19 minutes ago South African Airlines is close to finalising the cancellation of a contract to supply ten Airbus A320 aircraft as part of plans to get the national carrier back to profitability, its CFO said on Wednesday. "We need to get the final approval from the board who can...
Updated 1 hour 45 minutes ago The Barclays Purchasing Managers’ Index (PMI), which declined by almost 5% month-on-month in August, highlights “renewed pessimism” in the economy, the Steel and Engineering Industries Federation of Southern Africa (Seifsa) said on Wednesday. Seifsa chief economist...
More
 
 
Recent Research Reports
Road and Rail 2015: A review of South Africa's road and rail sectors (PDF Report)
Creamer Media’s Road and Rail 2015 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail infrastructure and network, the funding and maintenance of these respective networks, and...
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
Real Economy Insight: Automotive 2015 (PDF Report)
Creamer Media’s Real Economy Year Book comprises separate reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, gold, iron-ore and platinum sectors.
Real Economy Insight: Water 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Construction 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
 
 
 
 
 
This Week's Magazine
Training company The Intelligence Transfer Centre will host the fourth yearly Environmental Crimes Conference at the Indaba Hotel, in Fourways, Johannesburg between September 9 and 10. Confirmed key regulatory bodies that will attend the event include the Department...
The government of Egypt has said it is ready to provide technical assistance to Malawi in the development of the Shire–Zambezi waterway, which is designed to link landlocked Malawi to the Indian Ocean by opening the two rivers for navigation. Egyptian ambassador to...
Kenya is finally set to start building a new multipurpose petroleum pipeline, after securing a $350-loan from a consortium of banks, including South Africa's Rand Merchant Bank. The other banks in the consortium are the Cooperative Bank of Kenya, Citibank's Kenya...
MARAIS VAN HEERDEN The owner/operator should be able to view the overall project design and progress made at any time
Three-dimensional (3D) engineering design models can now be viewed on tablets, which enable stakeholders to view the design without having to buy the design software used to create it, says engineering design firm 3DDraughting executive Marais van Heerden. The...
Ford’s newest offering in a long list of newcomers to the local market in the last two years is the B-Max multi-activity vehicle (MAV). The B-Max will play in the so called B-MAV segment, or the small MAV segment, currently dominated by Toyota’s Avanza, which sells...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96