Page 14 - AfrElec Week 48 2022
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AfrElec RENEWABLES AfrElec
Nigeria receives $550mn in
loans from World Bank, AfDB
NIGERIA NIGERIA has received $550mn of loans from According to Vanguard, REA Managing
the World Bank and the African Development Director Ahmad Salihijo Ahmad told journal-
Bank (AfDB) to help boost power supply to rural ists that the new investment would help the pro-
communities. gramme provide reliable and clean electricity to
The Nigerian government has bor- 705,000 households, alongside many thousands
rowed $350mn from the World Bank and of businesses and healthcare centres.
$200mn from the AfDB, which will be given to “The REA has the mandate of taking power
the Rural Electrification Agency (REA) for its to unserved and underserved Nigerians. How
Nigeria Electrification Programme (NEP). it goes about doing this depends on where the
Nigeria has the largest number of people funding comes from,” he said.
without access to electricity in the world, and “According to the rural electrification strat-
the NEP has become a priority for President egy plan, we have targets to reach Nigerians
Muhammadu Buhari and his government. As everywhere in the country and the numbers at
things stand, according to the REA, the project the moment are being quoted to be as high as
has provided electricity to 5mn consumers. 80mn people.”
Lekela Power plans to expand
in Moroccan market
MOROCCO AMSTERDAM-BASED Lekela Power said that Group, agreed to develop a 10GW onshore wind
it is planning to expand in Morocco over the next project in Egypt. Lekela is developing a 250MW
3-4 years to exploit the country’s high renewa- wind power farm in Egypt’s Red Sea that is
bles and green hydrogen potential, the compa- expected to be completed by 2025.
ny’s CEO Chris Antonopoulos told The Africa Morocco has been working to encourage
Report. more clean energy production with the aim of
Lekela expects to triple in size by 2025 after its more than doubling its renewable energy pro-
recent acquisition by Cairo-based Infinity Group duction to 12GW – representing 52% of total
and Nigeria-based Africa Finance Corporation. power capacity – by 2030, from a current level
Lekela operates a 2.8GW portfolio, including of 5GW, or 40% of capacity. The North African
seven wind farms in South Africa, Senegal and country imports 90% of its energy needs. Inter-
Egypt. The firm is considering further opportu- ested firms in the sector included Saudi Ara-
nities in Morocco, Tunisia and Kenya. bia’s ACWA Power and India’s Adani Group.
In November, UAE’s Masdar, Egypt’s Hassan
Allam Utilities, and Lekela’s new owner, Infinity
P14 www. NEWSBASE .com Week 48 30•November•2022
