First Independent Mena Newspaper
British Sound Energy has bought 25 pc stake in the Sidi Moktar project, which comprises three onshore gas permits in Morocco. The UK independent company has inked the £3.57 million deal with Maghreb Petroleum Exploration after initially agreeing the deal last October. The Sidi Moktar licences cover 2,700 square kilometres in the Essaouira basin, central […]
Moroccan Agency for Solar Energy (MASEN) has launched a new international tender for a large-scale solar power project, confirming the North African country’s resolve to become a green-power leader. The project will have a total installed capacity of 400 MW and will include systems based on solar photovoltaic as well as solar thermal power generation […]
The Egyptian government has obtained a German financial support for three power projects to be carried out under the supervision of German group Siemens, through their local partners Orascom Construction and El-Sewedy Electric. The three projects will cost $ 6.3 billion lent by Deutsche Bank, HSBC Germany and German Bank of Reconstruction (KfW). The loan […]
The European Bank for Reconstruction and Development (EBRD) has approved a US$ 200 million loan for the construction of a new 1.8 GW combined cycle gas-fired power plant in Damanhour, north west of Cairo. This loan will contribute to funding the US$ 1.3 billion total project cost, which is also being supported by the European […]
Dallas-based Kosmos Energy’s oil search in Mauritania once again led to the discovery of an offshore gas reservoir in a well located 60km north of the Tortue-1 gas discovery that opened the basin. The latest discovered field, described as “a large gas resource,” is preliminary estimated to have 5 trillion cubic feet of gross resources […]
Egyptian authorities are negotiating with Russian Company Rosatom for the construction of a nuclear power plant to enable the most populous country in the Arab world meet its growing energy demands. Talks are believed to be at their final stages and a deal is expected to be sealed by the end of 2015, according to […]
Egypt is seeking to get $1.5 billion loans from the World Bank and the African Development Bank as fears increase that the Egyptian pound would be devalued if the dwindling foreign currency reserves go below $15 billion. The country has been struggling since 2011 to stabilize its economy and finances shaken by the protests that […]
Moroccan and American government representatives and leading businessmen are expected in Atlanta, Georgia, on October 13 to take part in the second edition of the Morocco-US Trade and Investment forum. The gathering aims at promoting investment, trade and partnership opportunities between Moroccan and U.S. companies in the areas of renewable and hydrocarbon energies, aeronautics & […]
Algeria which is badly hit by the collapse of oil prices on the international market is trying to end its heavy dependency on oil and to diversify its energy production. One of the alternatives raising Algerian authorities’ optimism is the Sahara Solar Breeder project (SSB) being developed in cooperation with Japanese researchers. Algerian and Japanese […]
Jean Louis Borloo, France’s former energy minister hopes to raise $3 billion from Western donors by next year to help cash-strapped African nations fund renewable energy projects, in a bid to tackle pollution and spur development. According to Jean Louis Borloo, his project to bring energy to 600 million Africans already had commitments from Western […]