FCMB boosts renewable energy support with N20.9bn credit

FCMB boosts renewable energy support with N20.9bn credit

FCMB boosts renewable energy support with N20.9bn credit   First City Monument Bank (FCMB) said it has executed credit enhancement agreements worth N20.9 billion to support renewable and energy efficient projects in Nigeria. The bank disclosed this in a statement to commemorate this year’s World Environment Day (WED) with the theme, “Ecosystem Restoration”. It said it is on track to finance projects that would deliver over 10,000 new solar-powered electricity connections to households and businesses across various communities by the end of 2021. The bank has also developed a product…

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AfDB commits $530m to renewable power transmission in Angola

AfDB commits $530m to renewable power transmission in Angola

AfDB commits $530m to renewable power transmission in Angola   The African Development Bank (AfDB) has committed $530 million to finance the construction of a 343 km, 400 kV central-south transmission line that will connect the north and south transmission grids in Angola and allow for the distribution of clean energy between the two regions. The north of Angola has a surplus of more than 1,000 MW of mostly renewable power, whereas the south relies on expensive diesel generators, supported by government subsidies. Transmission capacity will increase by 2,250 MW…

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