• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors Energy

AfDB lines up $1 billion to upgrade Kainji power plant and others across Africa 

Aghogho Udi by Aghogho Udi
December 6, 2023
in Energy, Renewables & Sustainability, Sectors
AfDB revises Africa’s economic growth downward from 4.3% to 3.8% in 2024
Share on FacebookShare on TwitterShare on Linkedin

The African Development Bank (AfDB) is drawing up around $1 billion to upgrade the 760-megawatt (MW) Kainji plant and around 11 others across different countries across Africa. 

Senior officials from the bank told Reuters on Monday that the plan is to boost the continent’s power generation capacity. Other countries that stand to benefit include South Africa, Sudan, Zambia, Angola and the Democratic Republic of Congo. 

According to the officials, work on these plants is expected to start around June 2024.  

RelatedStories

African Development Bank (AfDB)

AfDB approves $25 million to boost local currency hedging in Africa  

September 18, 2025

AfDB mobilizes $2.2billion with partners to expand agro-industrial zones in 24 Nigerian states 

August 7, 2025

The upgrade aims to “accelerate the energy transition” from fossil fuels, remarked João Cunha, the head of the renewable energy division at AfDB. 

While only a small portion of its potential is currently utilized, hydropower remains a fundamental element of Africa’s renewable energy and water management. This is particularly crucial as climate change exacerbates droughts and floods, and a significant population lacks access to electricity, underscoring the importance of hydropower in the region. 

The AfDB’s plan also aims to enhance the output of Nigeria’s 600 MW Shiroro hydropower station near Abuja, incorporating an additional 100 MW through floating solar photovoltaics. 

The problem with Africa’s hydropower plant 

Africa’s hydropower plants have fallen into disrepair in recent years with many operating below their installed capacity. This is attributed to a lack of spare parts and poor maintenance over the years.  

The Kainji power plant for example was built around 1968 with a capacity to generate to 760MW but currently operates at 520MW capacity.  

In August, the International Hydropower Association (IHA) conducted a study commissioned by the AfDB. The study identified 21 out of 87 plants across Africa, with a combined capacity of 4,600 MW, requiring immediate rehabilitation amounting to $2 billion.  

Additionally, another 31 plants, totalling 10,000 MW, will require maintenance within the next decade. 

Nigeria is in urgent need of generating enough power to meet its energy needs to drive its faltering economy. The country currently generates a paltry 5000MW of electricity for its over 200 million population which estimates put their energy needs at 33,000MW.  


Follow us for Breaking News and Market Intelligence.
Tags: AfDBhydropower plant
Aghogho Udi

Aghogho Udi

My name is Aghogho Udi, a writer, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader African context. My focus lies in shedding light on the intricate connections between macroeconomics and politics, offering valuable insights that foster comprehension of Africa's prevailing economic landscape and the world in general.

Related Posts

African Development Bank (AfDB)
Economy

AfDB approves $25 million to boost local currency hedging in Africa  

September 18, 2025
Agriculture

AfDB mobilizes $2.2billion with partners to expand agro-industrial zones in 24 Nigerian states 

August 7, 2025
AfDB, AI
Companies

Abia Govt secures $263.8 million from AfDB, IsDB for road, erosion, and waste management projects 

July 16, 2025
Wale Edun pushes finance ministry directors to deliver 7% GDP growth 
Economy

FG to concession major national projects to repay loans – Finance minister 

May 30, 2025
AfDB, AI
Economy

AfDB flags Nigeria’s rising debt costs: 75% of revenue goes to interest payments 

May 29, 2025
African Development Bank (AfDB)
Economy

AfDB projects $39.84 billion decline in foreign funding to Africa by 2025 amid aid cuts 

May 29, 2025
Next Post
Lagos to begin construction of Marina and Mile 2 interchanges in 2024 

Lagos to begin construction of Marina and Mile 2 interchanges in 2024 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

otd
arco
Palmpay
access bank
nairametrics
first bank








DUNS

Recent News

  • Wema Bank share capital rises 66% with 14.1 billion shares listing on NGX
  • Naira records first dip in over one week, closes at N1,469/$1 
  • Cardoso: Nigeria must embrace cryptocurrency regulation as market matures 

Follow us on social media:

Recent News

Wema Bank’s Rights Issue and Share Price Rally: Rewarding Investor Confidence

Wema Bank share capital rises 66% with 14.1 billion shares listing on NGX

October 3, 2025
Hand holding Nigerian Naira banknotes fanned out, representing currency exchange or financial context

Naira records first dip in over one week, closes at N1,469/$1 

October 3, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics