Tech

TotalEnergies acquires hydropower projects in Africa

Published

2 months ago

July 30, 2024

TotalEnergies has announced the acquisition of a portfolio of hydropower projects in Africa.

In a statement signed by Patrick Pouyanné, Chairman and CEO of TotalEnergies, the global firm has signed an agreement with Scatec, a Norwegian renewable energy company, to acquire 100% of its subsidiary SN Power, which holds interests in renewable hydropower projects in Africa, through a joint venture (51% SN Power) with Norfund and British International Investment (BII).

Pouyanné stated that as a result of the transaction which is subject to certain previous conditions, TotalEnergies would acquire a 28.3% stake in the Bujagali hydropower plant currently in operation in Uganda with a capacity of 250 MW covering more than 25% of the country’s peak electricity demand.

“TotalEnergies will also acquire minority stakes in two projects under development in Rwanda (260 MW) and Malawi (360 MW),” Pouyanné said.

“This acquisition of renewable hydroelectric assets and projects in Africa reflects our desire to contribute to the continent’s energy transition by bringing electricity to the people of African countries.

“In particular, we are delighted to be able to become a player in hydro power in Uganda, a country where we are also developing a major oil project,’ said Pouyanné.

Also reacting to the deal, Terje Pilskog, CEO of Scatec said:

“This is another example of TotalEnergies’ ability to implement its multi-energy strategy in oil-producing countries to support them in their energy transition.

“We are pleased to announce today’s transaction, as we believe TotalEnergies will be a strong asset owner going forward, with the ability to further develop the projects and contribute to the energy transition in Africa.

“We would like to thank the entire hydropower team for their hard work and dedication over the years, you have made a significant impact.

“In addition, our gratitude goes to our joint venture partners, host governments, and lenders for the support since 2020.”

TotalEnergies has global interests in a number of hydropower projects with a gross capacity of 3.7 GW worldwide including a 218 MW installed in France (19 MW), Portugal (33 MW) and Turkey (166 MW) as well as a 1.5 GW under development in Mozambique (Mphanda Nkuwa project) and 2 GW under development by Adani Green in India.

Related Topics:Africa Energy Featured Hydropower TotalEnergies

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Tech

Moroccan recruitment startup Kwiks raises $827k funding to develop AI-driven solutions

Published

20 hours ago

September 28, 2024

Isaac Dachen

Moroccan recruitment startup, Kwiks, has announced raising MAD8 million ($827,000) in funding from Azur Innovation Management (AIM) to help it accelerate the development of its AI-driven solutions.

Co-founder and CEO of Kwiks, Amine Khayatei Houssaini, who made the announcement, said the new funds would enable the platform to continue innovating and providing cutting-edge solutions to its clients.

“This investment will allow us to continue innovating and providing cutting-edge solutions to our clients, while strengthening our position in the local and international markets,” Houssaini said.

He added that the funds would be used to enhance the recruitment platform by accelerating the development of AI-driven solutions, as well as developing new features, such as R2DS solutions that generate automated candidate reports.

Founded in 2013 by Houssaini and Karim Kaoukabi, (more…)

Tech

Starlink launches high-speed Internet services in Burundi

Published

2 days ago

September 27, 2024

Isaac Dachen

Elon Musk’s Starlink has announced launching its high-speed internet services in Burundi after the president granted the company an official licence to operate within the country.

The licence was awarded to the satellite-based internet provider under the oversight of the Telecommunications Regulation and Control Agency (ARCT) of Burundi, with its Director-General responsible for implementing the decree.

A statement by the ARCT said the development marked a significant step toward improving internet connectivity, following the issuance of an operating licence in May 2024, granted through a presidential decree.

“This development marks a significant step forward in improving internet access for the people of Burundi,” the ARCT said.

Burundi, one of the world’s poorest countries, currently has one of the lowest rates of internet usage globally, largely due to high costs and limited infrastructure.

With the launch of the high-speed internet services, Burundi becomes the latest of 14 African nations to adopt Starlink’s Low Earth Orbit (LEO) satellite constellation, aiming to enhance satellite internet services across the country. The company is set to expand its operations to several additional countries by the end of 2024.

Starlink is now available in 15 African nations, following its recent launch in Zimbabwe. Other African countries that have gained access to Starlink include Kenya, Nigeria, South Sudan, Rwanda, and Zambia.