With the markets fighting for direction around the international scene and with coming interest rate hikes, 24/7 Wall St. often takes a long view of opportunities beyond the near-term noise that the financial media pushes toward investors. This brings an interesting position in the battered oil and gas sector. Most companies in the oil patch have seen their shares gutted since the oil drop began in 2014, to the point that many investors and analysts are looking for solid buying opportunities for those investors who can take a view into 2016 and beyond.
Djibouti to construct first wind power
Jun 25, 2015 12:00 AM
Djibouti's Energy Minister in charge of Natural Resources Ali Yacoub Mahmoud and the vice- president of Shanghai Electric group Chen Shuyu on Tuesday (June 23) signed an agreement for the construction of a 60 MW wind power plant, the first of its kind for Djibouti.
The project, to be constructed in two phases of 30 MW each, will also include the construction of two 230 KV capacity electric lines in northern Djibouti.
Minister Ali Yacoub said the project came at an opportune time to support his country's development ambitions and was in line with Djibouti's national strategy of achieving energy independence while guaranteeing clean, cheap and accessible energy across country.
The Minister hailed the economic and commercial partnership between China and Djibouti, and recalled that his ministry and Shanghai Electric had signed another large-scale project two years ago for the construction of a power line linking Djibouti to Ethiopia.