Infinity Power signs MoU for 4 GW green projects in Cameroon

Good afternoon, folks and happy Sunday. We are back after a long weekend that ended too quickly.

THE BIG STORY TODAY

Infinity Power to set up 4 GW of green projects in Cameroon: Our friends at renewable player Infinity Power have signed an MoU with the Cameroon West Regional Council that will see the firm develop 4 GW worth of renewable energy projects by 2035. The projects, which will span a range of different technologies, likely include “solar, battery storage, wind, hydro and biomass plants,” the company said in a press release (pdf). The projects will aim to address Cameroon’s critical energy needs, as the country has seen a 27% rise in electricity consumption per capita over the last two decades, the statement read.

THE BIG STORY ABROAD

It’s all eyes on Trump’s failed assassination attempt. Former President Donald Trump survived an attempted assassination at a Pennsylvania rally early on Sunday (local time), days before he was slated to accept the 2024 Republican nomination. Trump’s campaign announced he was doing well after the attack, which pierced the upper part of his right ear. However, one spectator was killed, and two others were critically injured in additional fired rounds. The suspect — identified by the FBI as 20-year-old Thomas Matthew Crooks — was shot dead by Secret Service Agents at the scene. The investigation, conducted by the FBI, remains active. (Reuters | Associated Press | New York Times)

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• Breaking down the new government’s plans for the next three years: The new Madbouly government laid down its plans for its three-year term in a 276-page document that Enterprise got a hold of.
• Why did the IMF postpone our third review? The IMF Executive Board has pushed back the third review of our USD 8 bn loan program to 29 July to “finalize some details.”
• Annual inflation slows for the fourth consecutive month: Annual urban headline inflation cooled 0.6 percentage points to 27.5% in June, down from 28.1% in May.

https://ent.news/2024/6/348.jpg " alt="enterprise">

*** It’s Inside Industry day — your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

In today’s issue: We look at the government’s plan to base export support on the use of local components, how the plan may best be carried out, and what obstacles stand in the way.

☀️ TOMORROW’S WEATHER- We’re seeing a high of 37°C and a low of 26°C in Cairo, according to our favorite weather app. Alexandria and Sahel are a bit cooler with a high of 33°C and a low of 25°C.