Geopolitical instability and volatile energy costs are accelerating corporate interest in electrification, according to a survey of nearly 2,000 business executives across 18 countries reported by the Financial Times. The survey found that 80% of executives viewed electrification as more urgent due to geopolitical risks, while 91% said replacing fossil fuel-based systems with electric alternatives…
Europe added 15 GW of new wind energy capacity in 2024, including 13 GW from onshore and 2.3 GW from offshore projects, according to WindEurope. This falls significantly short of the 30 GW annual additions needed to meet the EU’s 2030 climate and energy goals. Wind power currently provides 20% of Europe’s electricity. The EU…
The Angolan government has amended the General Electricity Law, officially ending the state’s monopoly on electricity transmission. This will enable private sector participation through public service concession agreements, aiming to accelerate electrification, attract private investment, and strengthen regional energy interconnections. The reform removes legal barriers that previously restricted private involvement, facilitating investments essential for expanding…
The African Development Bank (AfDB) has been named the mandated lead arranger for the Moyi Power metro-grids project, a $340 million private sector-led electrification initiative in the Democratic Republic of Congo (DRC). The project is now entering the financing stage. Spearheaded by the Moyi Power consortium, which includes Gridworks, Eranove, and AEE Power, the initiative…
The Ministry of New and Renewable Energy (MNRE) has revised its program to electrify 100,000 households in particularly vulnerable tribal group (PVTG) areas through off-grid solar systems. The initiative, implemented under Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM JANMAN) and Pradhan Mantri Janjatiya Unnat Gram Abhiyan (PM JUGA), now has an additional budget allocation…