http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.13Change: 0.02
R/$ = 12.04Change: 0.04
Au 1188.64 $/ozChange: 1.19
Pt 1129.50 $/ozChange: 5.00
 
 
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
Updated 51 minutes ago While global economic factors impacted South Africa’s weak growth prognosis, there were binding constraints coming from the electricity supply uncertainties, said Reserve Bank (Sarb) deputy governor Francois Groepe. On Tuesday, Stats SA said the country’s GDP...
Updated 3 hours ago Africa's second-biggest copper producer Zambia has cut its power generation by 300 MW after water levels in the Kariba dam, a key source of hydropower, dropped following a prolonged drought, its deputy minister of energy said on Tuesday. Charles Zulu said Zambia...
Owing to a shortage of generation capacity resulting from technical faults at some of its units, State-owned entity Eskom would implement stage 1 load-shedding from 17:00 on Tuesday. Load-shedding would likely continue until 22:00.
Article contains comments
Article contains comments
More
 
 
Latest News
Updated 32 minutes ago Imperial Holdings has entered into exclusive negotiations with Hollard Insurance and an unnamed associated party over the possible acquisition of Imperial’s interest in the Regent Insurance and Regent Life Assurance businesses, which hold long- and short-term...
Updated 56 minutes ago While global economic factors impacted South Africa’s weak growth prognosis, there were binding constraints coming from the electricity supply uncertainties, said Reserve Bank (Sarb) deputy governor Francois Groepe. On Tuesday, Stats SA said the country’s GDP...
Updated 1 hour 27 minutes ago Striking MTN employees kept up their picket at the company's 14th Avenue offices in Fairland, Randburg, ahead of an expected meeting on Wednesday to break the deadlock. With police officers guarding the entrance to the multinational company, a group of about 50...
More
 
 
Recent Research Reports
Steel 2015: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2015 report provides an overview of the key developments in the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon...
Projects in Progress 2015 - First Edition (PDF Report)
In fact, this edition of Creamer Media’s Projects in Progress 2015 supplement tracks developments taking place under the Renewable Energy Independent Power Producer Procurement Programme, which has had four bidding rounds. It appears to remain a shining light on the...
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
 
 
 
 
 
This Week's Magazine
While economic forecasts for the African continent are most favourable, African airlines may not be able to benefit from the expected growth in the region’s gross domestic product (GDP), International Air Transport Association VP: Africa Raphael Kuuchi has warned....
The Automotive Production and Development Programme (APDP) will need to change substantially post 2020, says Metair Investments South African operations COO Ken Lello. “We must not make tweaks. We have to change. What we are doing is not sustainable.”
Banking group Absa’s forecast is for the rand to end the year at around R13 against the dollar, weakening further to R13.50 by 2016, says Absa sectoral analyst Jacques du Toit. He warns that possible interest rate hikes in the US may see capital being pulled from...
The Dispute Resolution Centre at the Bargaining Council for the Civil Engineering Industry (BCCEI) is now open to handle party-to-party disputes. The BCCEI represents the interests of all level four to nine Construction Industry Development Board companies.
FREDRIK JEJDLING Sustainability becomes an important part of a business’ decision-making process
Communications technology firm Ericsson sub-Saharan Africa head Fredrik Jejdling says the company’s commitment to sustainability and corporate responsibility has been integrated into all facets of its operations, which has provided it with sustainable revenue...
 
 
 
 
 
 
 
 
 
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