Acumen Fund is investing in rural energy in Pakistan
Reposted from The News
Acumen, a pioneering non-profit global venture firm addressing poverty across Africa and South Asia, has announced its first investment in the growing rural energy sector of Pakistan, a statement said.
Acumen is giving a loan of Rs86 million to Aga Khan Rural Support Program (AKRSP) to support the creation of four community-managed micro hydel units in Chitral, it said.These plants would provide 24 hours clean electricity to remote off-grid communities in Chitral district, a region with limited access to electricity. More…
Reposted from Platts
By Christine Forster
Of the three oil and gas majors understood to be vying for a share of US-listed junior InterOil’s Gulf LNG project in Papua New Guinea, Shell is being tipped by some industry insiders as the bidder most likely to succeed.
The PNG government approved InterOil’s plans to develop the 3.8 million mt/year Gulf LNG project in November last year but has required that the company bring in a partner with a track record operating similar projects. At the same time the government said state-owned resources company Petromin would take a 50% stake in the onshore Elk and Antelope gas fields that will feed the LNG project. More…
Reposted from the National News Bureau of Thailand
by Suwit Rattiwan
BANGKOK, 28 April 2013 (NNT) – Thailand’s leading energy explorer is considering an investment plan in Papua New Guinea although the company has conceded that more time is needed before a conclusion is drawn.
Mr. Tevin Vongvanich, President and Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), revealed that the company’s investment feasibility study has been underway in Papua New Guinea. More…
Ethiopia and China have signed a $1 billion deal to further hydroelectric energy in the East African nation
Reposted from CapitalFM
Ethiopia signed a contract Friday worth nearly $1 billion with a Chinese energy company to build two transmission lines linking the country’s largest dam to the country’s central power grid.
The Ethiopian Electric Power Corporation (EEPCo.) signed the deal with China Electric Power Equipment and Technology Company (CET) in the Ethiopian capital. More…
Reposted from The UB Post
By By B.Khash-Erdene
It is estimated that Mongolia has and 800 billion tons of oil shale reserves. But this number was deduced by Mongolian geologists by studying only 19 percent of the outlined reserves in 1990.
Oil shale is said to be an alternative fuel source which provides a vast potential for profit to businessmen and entrepreneurs. Although Mongolia hasn’t even fully established its reserves of this possible miraculous mineral, foreign businesses have already begun eyeing Mongolia’s shale deposits. More…
Tony Knowles, one of SME Renewable Energy Ltd’s three directors, has lived in Cambodia for the past 17 years. Photograph: Hong Menea/Phnom Penh Post
Reposted from The Phnom Penh Post
SME Renewable Energy Ltd promotes renewable energy technologies and markets biomass gasification power generation systems throughout the Greater Mekong subregion. The joint venture was founded in 2005 and has since installed 45 systems in Cambodia. The enterprise helps companies that depend on costly petroleum find cheaper long-term solutions. Director Tony Knowles talked to the Post’s Sarah Thust about Cambodia’s growing energy needs.
How did SME develop last year?
We can see that more and more rice millers have the money to invest in [biomass] equipment. If you export rice to other countries, which is now a government target, you have to somehow reduce production costs or your milled rice will be too expensive to compete with other countries. More…
Despite Iraq’s turbulent past, the country’s bourse is fluorishing
Reposted from Wealth Daily
By Joseph Cafariello
Like springs of water vitalizing an oasis in the desert, a steady flow of investment has been springing to life the Iraqi stock market.
Asiacell—a Qatar Telecom-affiliated telecommunications company—has just last month raised over U.S. $1.3 billion from its IPO. It is the largest initial public offering in the whole of the Middle East since 2008.
Fascinating as that may be, what is even more astounding is where it listed: on the Iraqi Stock Exchange. More…
Reposted from Bloomberg Businessweek
By Michael Kohn
Mongolia is seeking international investors to help fund a coal-fired thermal plant in the Gobi Desert to power its biggest infrastructure project, the Oyu Tolgoi copper and gold mine.
“The total cost to build the power station will be roughly $500 million,” said Odon Sainbuyan, the Executive Director of Erdenes MGL, a state-owned company that holds the shares of Mongolia’s strategic deposits, including Erdenes Oyu Tolgoi and Erdenes Tavan Tolgoi.
Iraqi Kurdistan is aiming to diversify its economy and attract more foreign investment
Reposted from Al-Monitor
By Abdel Hamid Zebari
The Kurdistan Region of Iraq is preparing to change its investment approach to focus on new areas of foreign and local investment — including tourism, agriculture and industry — after having focused exclusively on housing and oil for the past six years.
Despite the fact that oil investments are the largest investments in the Kurdistan region, they fall outside of the investment law. These investments are carried out in a differ manner from those in business, industry and agriculture.
According to statistics obtained by Al-Monitor from the General Investment Authority in the Kurdistan Region, foreign and local investments have reached $24.5 billion across 521 projects extending over an area of 8500 acres in the region’s three major cities, Erbil, Sulaymaniyah and Dohuk. More…
Ethiopia, whose economy grew 8.5% in 2012, is promoting investment in infrastructure, natural resources, and agro-processing
Reposted from Bloomberg
By William Davison
Ethiopia’s government plans to attract more foreign investment and boost domestic savings as it struggles to finance infrastructure and other development projects, State Minister of Finance Abraham Tekeste said.
The government is seeking “concessional loans” from development banks for roads and power lines and is “aggressively promoting” investment from Europe and the Middle East, Abraham said in an interview in the capital, Addis Ababa. Natural resources, improving infrastructure and cheap labor and power mean there are “bankable” opportunities in areas such as chemicals and agro-processing, he said. More…