Togo inaugurates major renewable energy facility

Togo has inaugurated a major new renewable energy facility. The fully operational 50 MW Sheikh Mohammed Bin Zayed solar power plant, financed under the IRENAADFD Project Facility, has the capacity to provide electricity to nearly 160,000 homes and small businesses, significantly reducing the country’s dependence on firewood, charcoal and fuel imports for energy consumption.

Radisson Hotel Group boosts East African portfolio

Radisson Hotel Group has signed its first hotel deal in Djibouti. The new-build 144-room hotel, scheduled to open in 2024, brings its East African portfolio to 18 hotels and over 2700 rooms in operation and under development. The hotel, which is located in the heart of the city near the airport, port and free zone, will be owned by Salaam Properties.

AfDB launches $464m ‘kangaroo’ social bond

The African Development Bank has launched a AUD$600m (USD$464m) five-and-a-half-year “kangaroo” social bond, its first return to Australian fundraising since 2018. More than 30 investors participated in the deal, with a total order book of over A$775m, leading to the trade being “upsized” from an initial A$250-300m to A$600m. Social bonds raise money for projects such as improving access to electricity, water and sanitation.

SA regulator refuses approval for Karpowership projects

Turkish natural gas floating power station operator Karpowership has been refused environmental approvals for three gasto-power projects in South Africa by the Department of Forestry, Fisheries and the Environment. Three of its floating natural gas power stations were selected among preferred bidders in a 2,000 MW government emergency power tender in March, but the regulators have turned down the approvals following concern from environmentalists.