Market News

Erin Energy has obtained an eighteen-month extension of the Initial Exploration Period (IEP) of its offshore Kenya Blocks, L27 and L28. The IEP on blocks L27 and L28 has been extended to February 2017.   'We are delighted to receive this eighteen-month extension,' said Segun Omidele, Senior V . . .

Kenya Power on Wednesday launched a major network upgrade and street lighting project in the coastal city of Mombasa. The street lighting project will include Mombasa’s Old Town at a cost of Sh45 million and will involve retrofitting of 500 existing High Pressure Sodium (HSP) lamps to Light E . . .

The Energy Regulatory Commission (ERC) will publish new policy guidelines to regulate use of energy. According to the regulator, under the proposed guidelines, consumers who use electricity to boil at least 1,000 litres of water or more would be required to install solar panels, among a raft of othe . . .

Construction works of the 80MW  Rusumo Falls hydropower project which is funded by the World Bank and the African Development Bank is set to begin next year. The construction project will be located at Rusumo Falls along Rwanda-Tanzania border . The announcement comes after the families who wer . . .

 The African Development Bank now says that it will focus more on efforts to construct more power facilities in Africa in a bid to tackle the chronic power shortages in the continent.  AfDB new president Dr. Akinwumi Adesina said that the move will help unlock Africa’s economic poten . . .