South Africa has unbundled its power sector by creating a new entity known as National Transmission Company of South Africa.
Energy and Electricity Minister Kgosientsho Ramokgopa launched the new entity on Monday, October 7, 2024.
The NTCSA is one of Eskom’s legal separations of three entities, namely generation, distribution and transmission.
The unbundling was first announced in President Cyril Ramaphosa’s 2019 State of the Nation Address.
Ramokgopa described the launch as a positive step towards energy security and electricity availability.
“What are the benefits to the country? The first one is you make the point to accelerate their onboarding of the renewable energy process. We know that there’s a misalignment between our assets, renewable energy assets and also grid capacity, constraints in the Cape Provinces, Northern Cape, Eastern Cape and Western Cape.
So, if you must unlock those opportunities, we have stated today that we think it’s possible that by 2027 we can get an additional 11 000 mw on stream.”
The company started its operations on July 1. Some of the work has already been done, including the building of the country’s transmission infrastructure.
Service providers were appointed to help with the building of 14 000km stretch of transmission lines by 2032.
“Despite being a newly formed entity, the NTCSA has already made substantial progress in implementing its strategy. We have approved R112 billion for TDP investments in the next 5 years.
“Recognise that collaboration and public-private partnerships are critical to ensure that we achieve the top bill for TDP investment in the 53 000 mw of new generation connection required over the next decade.
“As communicated by Mr Skippers, the ministry and the NTCSA are working together on ITP solutions to attract additional private sector funding which will not impact NTCSA’s balance sheet,” said NTCSA’s chairperson, Priscillah Mabelane.
Source: https://energynewsafrica.com
Africa’s largest gathering of oil and gas players, Africa Oil Week (AOW), will be hosted permanently in Accra, the capital of Ghana, from 2025.
AOW, which is now owned by Sankofa Events, has been held in Cape Town, South Africa, for the past 30 years.
However, the organisers of the prestigious energy event have decided to move the host nation to Ghana, West Africa.
Speaking at the ongoing Africa Oil Week in Cape Town, South Africa, Dr Omar Farouk Ibrahim, Secretary-General of the African Petroleum Producers Organisation (APPO), expressed concerns about numerous energy events that happen at the same events with the same speakers underscored the need for organisers of Africa Oil Week and Africa Energy Week (AEW) to work together for the good of the continent.
Dr. Omar Farouk Ibrahim, Secretary General of APPO.
“Africa Oil Week is moving base from Cape Town to Accra from 2025,” he said.
Commenting on this new development, Ghana’s Minister of State at the Energy Ministry, Herbert Krapa, welcomed the news, stating that Ghana is committed to hosting the event.
Organisers of the event have scheduled 15th September 2025 for the event.
Paul Sinclair, Managing Director of Sankofa EventsSource: https://energynewsafrica.com
The Republic of Kenya is intensifying cooperation with Russia in the fields of nuclear and renewable energy, Peter Mathuki, who is Kenya’s Ambassador to Russia, has said.
“I see how advanced Russia is in economic matters, and this is another sector in which we can develop together, especially nuclear energy.
“There is also the development of solar energy,” he said on the sidelines of the forum: ‘North Caucasus: New Geostrategic Opportunities’.
The forum was held in Stavropol on October 4-5.
It has been held annually by the North Caucasus Institute, a branch of the Russian Presidential Academy of National Economy and Public Administration (RANEPA), since 2017 with the support of the office of the Plenipotentiary Representative of the President of the Russian Federation in the North Caucasus Federal District and the Public Chamber of the Russian Federation.
Source: https://energynewsafrica.com
Zambia’s power utility company, Zesco Limited, has announced that effective from 7th to 13th October 2024, residential customers will enjoy three hours of power supply each day.
According to the power firm, critical infrastructure such as hospitals, water pumping stations and essential security services will not be affected by this development.
“We remain committed to sticking to the planned schedule, though unforeseen circumstances may cause interruptions or delays,” the company said in a statement on Monday.
The company urged Zambians to report any outages lasting over 24 hours, as these may indicate technical faults requiring urgent attention.
ZESCO has been implementing load-shedding due to a shortfall in power supply occasioned by severe drought.
The Southwestern African nation generates over 85 per cent of its electricity from hydro.
Source: https://energynewsafrica.com
The Energy Personalities’ Outreach Programme (EPOP) took center stage at Wesley Grammar Senior High School on Thursday, 3rd October 2024, as some of the most influential figures in Ghana’s energy industry engaged students in a memorable and empowering event.
Powered by the Energy Media Group (EMG), the organisers of the Ghana Energy Awards, the programme aims to inspire young minds, bridging the gap between industry professionals and the leaders of tomorrow.
Held under the theme “Impacting The Next Generation Leaders Today”, the outreach event featured keynote addresses from renowned energy sector leaders, including Dr. Edwin Provencal, the Managing Director of the Bulk Energy Storage and Transportation (BEST) Company Limited, and Mrs. Kadijah Amoah, the Chief Executive Officer of Pecan Energies Ghana.
Their goal was simple, yet profound: to motivate the students to see the energy industry as a vital career path, and to emphasise the role of STEM (Science, Technology, Engineering, and Mathematics) in fostering innovation and sustainable progress in Ghana and beyond.
Key Highlights
In his welcome address, the Chief Executive Officer of EMG and the Event Director of the Ghana Energy Awards, Ing. Henry Teinor, accentuated that the Outreach Programme was designed to complement the government’s efforts in promoting STEM education.
He noted that mentorship and early exposure are critical in enhancing the involvement of the youth in the country’s growing energy sector.
Dr. Edwin Provencal’s keynote speech was a personal and powerful reflection on perseverance and dedication. Addressing the over 900 eager students, Dr. Provencal recounted his journey from modest beginnings to becoming one of Ghana’s top energy leaders.
His central message—anchored in resilience, innovation, and a commitment to national development—struck a chord with the students.
He urged them to harness their unique talents to make meaningful contributions to their communities, and stressed the importance of pursuing STEM fields to unlock a brighter future.
Mrs. Kadijah Amoah built on this momentum, delivering an engaging and motivating session. As a leading voice for women in the energy sector, she encouraged students to become the leaders of their own lives by setting long-term goals and working with purpose.
Her message, particularly targeted at young women was clear: break barriers, strive for excellence, and lead the way in shaping Ghana’s energy future.
Both speakers observed that while the energy sector presents immense opportunities, it requires resilience and determination to succeed.
They urged the students to view their education as a powerful tool for future success, especially in tackling the global energy challenges that Ghana and the world will face.
The event’s Q&A session led by Lawyer Kwame Jantuah, the Chairman of the Awarding panel of the Ghana Energy Awards, presented an enriching platform for the students to interact with these industry stalwarts.
Their questions, ranging from career pathways in the energy sector to insights into energy solutions, reflected a growing awareness and enthusiasm for STEM-related fields among the Ghanaian youth.
Industry Leaders in Action
Speaking to the media after the event, Dr. Provencal praised the Ghana Energy Awards for initiating the Energy Personalities’ Outreach Programme.
He noted that by engaging students at this stage, the programme plants the seed of curiosity and interest in STEM, equipping the next generation with the skills required to thrive in the fourth industrial revolution. “We are shaping the leaders who will drive Ghana’s energy future”, he remarked.
Mrs. Amoah, addressing the need for women empowerment in the energy industry, encouraged colleague women in the industry to create opportunities for others, and called on young female students to challenge traditional roles by pursuing careers in the energy sector.
A Future-Focused Initiative
The Energy Personalities’ Outreach Programme has proven itself to be a vital initiative for inspiring young minds across the country.
By connecting students with successful professionals in the energy sector, the programme not only broadens their horizons, but also provides them with concrete steps on how to pursue careers in STEM.
The event at Wesley Grammar showcased the profound impact that mentorship and guidance can have on students, many of whom expressed newfound interest in pursuing STEM subjects and understanding their role in Ghana’s energy future.
A Platform for Career Inspiration
Now in its sixth edition, the Energy Personalities Outreach Programme has reached schools such as Achimota School, West Africa Senior High School, Nungua Senior High School, St. Mary’s Senior High School, and Aburi Girls’ Senior High School, continually inspiring students, and preparing them for future roles in the energy sector.
Wesley Grammar’s event marks yet another milestone in this ongoing journey to develop a robust STEM foundation for Ghana’s youth.
As the Ghana Energy Awards looks to expand its reach to more schools across the country, the programme remains a significant investment in nurturing future energy leaders.
The event at Wesley Grammar stands as a reminder of the transformative power of education, mentorship, and industry collaboration.
About the Ghana Energy Awards
The Ghana Energy Awards honours and celebrates the contributions of individuals and organisations to the growth and sustainability of Ghana’s energy sector.
Through added initiatives like the Energy Personalities’ Outreach Programme, the Awards Secretariat continues its mission of cultivating the next generation of energy professionals.
The 8th Ghana Energy Awards is set to take place on Friday, 25th October 2024 at 6:30pm, at the Labadi Beach Hotel in Accra, continuing its tradition of celebrating and redefining excellence within Ghana’s energy sector.
Source: https://energynewsafrica.com
BP has scrapped a previous target to reduce its oil and gas production by the end of the decade as the UK-based supermajor is pivoting back to its core hydrocarbons business to lift investor returns, Reuters reported on Monday, citing sources familiar with the plans.
BP aims to pour new investments in oil and gas production and is set to increase its output in the U.S. Gulf of Mexico and the Middle East, according to Reuters’s sources.
BP’s CEO Murray Auchincloss, who succeeded Bernard Looney, is set to unveil the company’s new strategy in February 2025, which will include the official removal of the 2030 oil and gas production target, the sources added.
While keeping their 2050 net-zero targets intact, Europe’s major oil companies have started to scale back interim emission reduction targets, acknowledging that their priorities now lie with returning more cash to shareholders. And these returns come from the fossil fuel business, not from renewables.
Following the Russian invasion of Ukraine and the energy crisis, the oil and gas industry has stressed that affordability and energy security are at least as equally important as helping the world reduce carbon emissions.
Auchincloss has expressed in the past views that the supermajor would “pragmatically adapt” to energy demand trends. BP still aims to be a net-zero energy company by 2050, but its focus would be on a leaner company with higher returns for shareholders.
“As Murray said at the start of the year… the direction is the same – but we are going to deliver as a simpler, more focused, and higher value company,” a spokesperson for BP told Reuters.
BP has already approved new investments in oil projects. In late July the company took the final investment decision on the Kaskida project in the U.S. Gulf of Mexico as part of its long-term commitment to deliver secure, affordable, and reliable energy.
Kaskida, which will be BP’s sixth hub in the Gulf of Mexico, will feature a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase. Production is expected to start in 2029.
Source: Oilprice.com
Libya’s National Oil Corporation has denied rumors that foreign troops are guarding the country’s oil fields.
In a statement on its website, the company said that it “refutes recent media reports claiming the presence of foreign forces guarding certain Libyan oil fields and installations.
The NOC proudly reaffirms that Libya’s national security and military forces have successfully safeguarded these critical facilities, which are built on Libyan land and represent an essential part of the country’s resources and a primary pillar of its economy.”
“The NOC strongly condemns these false allegations and misleading reports,” the company also wrote, adding “We urge all media outlets, both domestic and international, to exercise its due diligence, uphold journalistic integrity, and verify the accuracy of information before publication to avoid misleading public opinion and inciting unnecessary unrest.”
The statement came in response to reports saying there were foreign mercenaries guarding the country’s vital oil fields.
Libya gets almost all of its export revenues from crude oil and the start of the civil war that followed the U.S.-led overthrow of Muammar Ghadaffi only amplified the importance of the industry.
Just recently, the two competing political factions in Libya locked horns over who would be the next governor of the Libyan central bank, which led to the shutdown of oil fields by the eastern government, which the so-called international community does not recognize.
As a result of the argument, Libya’s oil production plummeted. The two governments eventually managed to reach an agreement on the new central bank governor and production resumed but the events highlighted the vulnerability of Libyan oil supply.
Libya’s oil fields also often become the prime target for protests and blockades as communities around them try to pressure the government into things like job creation and healthcare funding.
The NOC remains firm that the only troops guarding the oil facilities are local.
Source: Oilprice.com
Nigeria-based UTM Offshore Limited, which is planning to construct the country’s first Floating Liquified Natural Gas Facility, says it will make the Final Investment Decision (FID) for the $5 billion project before the end of 2024.
According to the firm, engineering studies have been completed while the Nigerian Downstream and Midstream Petroleum Regulatory Authority (NMDPRA) has also approved the construction.
The Managing Director and Group CEO of UTM Offshore Limited, Julius Rone, disclosed this during a webinar hosted by The Gambia-based African Association of Energy Journalists and Publishers.
“We are now working toward taking the Final Investment Decision, FID, in the fourth quarter of 2024. I just came this morning from my trip around the world where we had a couple of meetings, including the United Nations and the African Export-Import Bank, taking the lead in arranging the debt and equity of the project.
“We had a meeting with them in New York. We look forward to announcing the FID soon. We are very pleased with the level of aggregation of the debt and equity being arranged by the bank.
“The project would impact many stakeholders. Everyone—the community, the region, Nigeria, West Africa and the entire continent—would be positively impacted on completion of the project. It would culminate in reducing gas flaring. Nigeria has signed into the United Nations Global Reduction of Emissions.
“The project would create 7,000 direct and indirect jobs across the value chain, which means a lot of people not only Nigerians but all over the world, would participate in this project.
“It should be noted that during the construction phase alone, over 25,000 jobs would be created. We would also take several Nigerian youths to different parts of the world where the construction and integration would take place for training.
“They would understudy the process so that on completion, they would sail back with the floating LNG, and have the hands-on experience to manage and upgrade the plant of such nature offshore.
“Also, the project would support the demand for energy in Nigeria, which requires over two million tonnes of the Liquefied Petroleum Gas, LPG for domestic consumption.
“Currently, over 1.5 million tonnes are imported from the global market. The supply of our LPG in Naira would enhance the value of the local currency.
“The impact would go beyond Nigeria as one off-taker is currently discussing the possibility of taking the LNG to South Africa with us. It would benefit the entire continent.
“By the special grace of God, this would be the flagship project to open up that space for stranded gas offshore to be monetized through a technology that has been broken.”
He said the FLNG plant would go a long way towards enabling the nation to end its energy poverty, adding, “Once it starts from Nigeria, it moves back to other African countries. Today, Africa is in a complete deficit.
“The governments in African countries must play their parts for investors to come in because governments alone cannot take the continent out of energy poverty.”
Source: https://energynewsafrica.com
Trinasolar has been awarded the prestigious PV Module Long-term Aging Reliability AQM Award 2024 by TÜV Rheinland, a globally recognized leader in technical services with over 40 years of experience in the photovoltaic (PV) industry.
This honor highlights the outstanding system compatibility and long-term reliability of Trinasolar’s Vertex N single-glass modules.
Featuring advanced N-type i-TOPCon technology, the award-winning Vertex N modules deliver impressive performance, with a maximum output power of up to 630W and module efficiency reaching 23.3%.
Designed with industrial and commercial applications in mind, these lightweight single-glass modules—at just 10.7 kg per square meter—are perfect for rooftops where low load-bearing capacity is crucial. This design solves common challenges like limited roof load, complex installations, and difficult maintenance in PV systems.
The Vertex N series has set a new benchmark in n-type single-glass module reliability—an area that has historically challenged the industry. Trinasolar’s commitment to cutting-edge R&D has enabled the Vertex N modules to outshine competitors and earn this coveted award, further solidifying its leadership in TOPCon technology and PV reliability.
Backed by extensive testing beyond industry norms, including hail impact, dynamic load, and thermal cycling tests, Trinasolar’s Vertex N modules maintain excellent durability and minimal degradation even under extreme conditions.
They’ve been rigorously evaluated through 45mm hail tests, dynamic load tests at 20 times the standard load, and multiple environmental stress tests like PID, DH damp heat, and LeTID tests, proving their resilience in harsh environments such as ice and snow conditions. After these exhaustive tests, the modules retained their pristine appearance, showed no hidden cracks in EL testing, and exhibited exceptional performance with remarkably low degradation levels.
In response to customer needs, Trinasolar continues to innovate, unveiling the industry’s first 600W+ single-glass module with anti-dust accumulation features. The Trina Solution addresses common issues like dust and snow buildup, which can hamper power generation. With an enhanced frame structure and proprietary technology, these modules boost energy yields by promoting efficient shedding of dust and snow, while supporting high load capacities.
As a customer-first company, Trinasolar remains focused on delivering solutions that meet specific needs across diverse scenarios. Its unwavering commitment to technological innovation, product quality, and ecological partnerships ensures that Trinasolar continues to lead the industry, offering greater value to its customers and driving the shift toward a greener, more sustainable future.
With recent geopolitical events highlighting the vulnerabilities of global energy supply chains, Africa is attracting increasing attention as a reliable and promising source of oil and gas.
As the world seeks to diversify its energy portfolios and ensure security of supply, investors are recognising the immense potential of Africa’s underexplored hydrocarbon reserves. This comes as other regions face ongoing challenges, leading to a renewed focus on stable, promising alternatives.
Africa, long an overlooked energy region, has been attracting interest from global energy investors recently, thanks to its underdeveloped oil and gas resources, business-friendly governments and dynamic financial institutions. Now, the region seems increasingly attractive as a relatively stable and predictable geopolitical environment.
African energy stakeholders have observed a surge in interest from international players eager to engage with the continent’s dynamic energy sector. The forthcoming AOW: Investing in African Energy event in Cape Town reports a significant uptick in energy leaders confirming their attendance.
“Since other regional conflicts caused gas supply disruptions to Europe, we have seen a surge in interest in Africa as a supply base,” says Paul Sinclair, CEO of Sankofa Events, which owns AOW. “While we continue to hope for a peaceful resolution in all areas of conflict, we are also looking to explore how Africa can help ease global energy demand in this unsettling period.”
Recent discoveries of significant oil and gas deposits in the Orange Basin offshore South Africa and Namibia, alongside expanding projects in Mozambique, Nigeria, Ghana, and other nations, underscore the vast potential of Africa’s hydrocarbon resources. This is in addition to the continent’s almost limitless renewable energy opportunities.
“Africa offers so much for energy investors,” says Sinclair. “At the same time, there remain huge challenges with access to energy on the continent, something we want to put at the top of the AOW agenda to resolve. This is the ideal time to bring the continent’s energy resources into the mainstream economy and to look at not only driving advocacy around oil and gas development, but to ensure our resources are monetized locally for our own energy security.”
Sinclair says there has been huge progress in the West African corridor with gas utilisation and he looks forward to AOW helping to drive development and monetisation of natural resources for domestic economic growth.
“We want Africa to also help meet global energy needs and to be the supply base of choice for international energy security, while offering a parallel pathway to economic development for Africa,” he says. “We believe now is the time to accelerate upstream development.”
AOW: Investing in African Energy – owned by Sankofa Events – is Africa’s leading oil, gas & energy event. AOW brings together industry leaders to develop policy, share discoveries, secure investment, and shape Africa’s energy future. The event runs from 7 – 10 October 2024 at the CTICC 2, Cape Town.
South Africa’s power utility company, Eskom Holdings SOC Ltd. is using diesel-fueled auxiliary turbines extensively to stave off power cuts in South Africa following delays in restoring some generation capacity, News24.com has reported.
The utility fired up the units after 2 685 megawatts of capacity failed to return to service on Sept. 23 as planned, Eskom said in a reply to questions.
“Additionally, higher-than-expected electricity demand driven by cold weather has contributed to this situation,” it said.
While Eskom has been lauded for preventing rolling blackouts for more than six straight months, plant outages have led to “extensive usage” of the so-called open-cycle gas turbines intended to run during peak demand.
The utility used more power from the units in September than it did during the same month last year.
Still, diesel costs to run the turbines from April through last month have been reduced to about a third of the R17.1 billion ($980 million) spent during the same period in 2023, Eskom said.
The outlook of no power cuts, known as load shedding, through the end of March, “remains in force,” it said.
Source: https://energynewsafrica.com
The Federal Republic of Nigeria has said that it is targeting four million barrel per day (bpd) of oil production, and 10 billion cubic feet (bcf) of gas production by 2030.
Olu Verheijen, Special Adviser (SA) to the President on Energy, made this known in a statement on Friday in Abuja.
Mrs Verheijen said the feat would be achieved through commitment to reform agenda, unprecedented incentives for oil and gas production unveiled by the President Bola Tinubu’s administration.
“Since President Tinubu assumed office in May 2023, the government has embarked on a series of new reforms to improve the competitiveness of its oil and gas industry.
“The reforms also aimed at bringing down the costs and timeliness of doing business in a sector that continues to be the biggest earner of foreign exchange for the country.
“These reforms, which include three presidential directives issued in February 2024, will create tens of thousands of new jobs, improve foreign exchange earnings, stimulate tax revenues and contribute to Nigeria’s macroeconomic stability,” she said
Mrs. Verheijen disclosed that the roll out of the reforms was being coordinated by her office.
She said that in a major move to advance the ongoing structural reforms in the oil and gas industry, President Tinubu approved the issuance of two new sets of fiscal incentives.
The incentives, according to her, included VAT waiver covering gas, diesel, electric vehicles and clean cooking equipment, and tax credits for new investments in the exploration and production of deep water oil and gas.
She said the new fiscal incentives, expected to take effect immediately, are contained in the documents issued by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun:
The documents, according to her, included; Value Added Tax (VAT) Modification Order 2024, Notice of Tax Incentives for Deep Offshore Oil & Gas Production in line with the Oil & Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order 2024.
The Presidential aide said the Notice of Tax Incentives was built on the directive, issued by thr President in February, which provided incentives for onshore oil and gas investments,
“This is the first time that Nigeria is outlining a fiscal framework for deep water gas, since basin exploration commenced in 1991.
“The incentives are in alignment with the Presidential Gas for Growth Initiative, which aims to fast-track the development of natural gas, displace fossil fuels in transport, promote affordability of gas, the incentives will equally bolster the country’s energy security,” she said
Verheijen said the reforms agenda would, equally, help the country to unlock 10 billion dollar of new investments in deep water oil and gas projects in the near to medium term
“Since Nigeria’s last deep water project – the Egina project – was approved in 2013, International Oil Companies operating in Nigeria have committed more than 82 billion dollar in deep water investments to other countries that they deem more competitive.
“Over the next few years, they plan to spend another 90 billion dollar to develop deep water oil and gas projects.
“This is the pool of funds that our reforms are targeting,” she said.
Verheijen commended the President for the deliberate efforts and programmes bringing positive momentum in the oil and gas industry.
Source: https://energynewsafrica.com
The Government of Ghana, through the Minister of State at the Ministry of Energy, Herbert Krapa, has directed Parliament to stay proceedings on the draft Bills seeking to merge the Volta River Authority (VRA), Bui Power Authority (BPA) and Electricity Company of Ghana (ECG) and Northern Electricity Distribution Company (NEDCo) into desperate entities.
Minister Krapa revealed this on Thursday after meeting staff groups of VRA, Management and VRA board at the Electro Volta Conference Room in Accra.
In a letter communicating the outcome of the meeting with the Minister, John Chobbah wrote: “The Minister of State indicated that he has engaged the leadership of Parliament to stay the process of laying the proposed merger Bills. He requested the Staff Groups’ leaders to back down on our actions and remove all the RED bands.
“The leadership of the Staff Groups assured the Minister that the staff shall only back down on our actions after an official public announcement from either the Ministry or the Presidency indicating that the Bills have been withdrawn from Parliament. Leadership, however, intimated that the meeting being held must not be interpreted as a stakeholders’ engagement.”
The letter urged all staff to remain resolute and continue working deligently while the leadership press home their demands.
The government’s plan of integrating the power generation assets of the Volta River Authority (VRA) and Bui Power Authority (BPA) are four prong namely: (i)deliver minimised cost of power to consumers,(ii )improve operational efficiency as well as asset integrity and reliability, (iii)enhance financial strength of the integrated entity through the exploration of additional opportunities in the local and regional electricity market and (iv) increase the pace of transition to greener power generation and thereby ensure business.
However, the staff groups of the VRA have expressed opposition tothe proposed merger, arguing that the whole plan is a smoke screen agenda by the government to give off VRA thermal assets and later sell it to cronies.
They maintained that VRA is efficient and wondered why government is seeking to merge it with BPA.
In a thirteen-page petition to the Presidency recently, the Staff Groups of VRA perceived the proposed merger as a deliberate ploy to completely obliterate the name Volta River Authority and the significance of the visionary leader, Osagyefo Dr Kwame Nkrumah, who pioneered the establishment of VRA, from the history of Ghana.
Additionally, the Staff Groups said, “We see this merger as a measure to weaken the Authority and the stability of electricity pricing in Ghana.”
According to the Staff Groups, the VRA hydro plants, since their inception, have been efficient with an average availability factor of 95 per cent, a reliability factor of 98 per cent and above year-on-year and a forced outage rate of less than one per cent, thereby making the VRA hydro generation plants one of the top most performing plants among 350 hydro plants in the world.
Source: https://energynewsafrica.com
The Keir Starmer government has announced funding of some 22 billion pounds for the buildout of carbon capture facilities in the North. The sum is equal to some $29 billion.
Per plans, the project, which is set to create so-called carbon capture clusters in Merseyside and Teeside, should create some 4,000 jobs and support another 50,000 over the next two decades and a half, AFP reported.
The initiative, with a size of 21.7 billion, was “reigniting our industrial heartlands by investing in the industry of the future,” Prime Minister Starmer said.
The government is hoping to attract some 8 billion pounds in private investment for the plan.
The state portion of the investment would come from the budget and from electricity bills.
The funds, to be disbursed over a period of 25 years, would be used for the construction of three projects that would capture and store carbon dioxide from hydrogen production, gas power generation, and waste generation, Sky News reported.
The amount of carbon dioxide emissions these three should capture when completed is 8.5 million tons annually, to be stored in empty gas fields in Liverpool Bay and the North Sea.
Carbon capture is considered a technology that is essential for the drive to net zero. Wood Mackenzie earlier this year estimated that by 2034 there could be carbon capture capacity of some 440 million tons by 2034, with storage capacity at 664 million tons annually.
However building that capacity would require close to $200 billion, the consultancy said.
The International Energy Agency, on the other hand, has downplayed the importance of carbon capture and storage as a means to a net-zero end.
The agency—and environmentalist organizations—have criticized carbon capture as too expensive, economically unviable, and ultimately benefiting the oil and gas industry, which both the IEA and many environmentalists would like to see gone.
Source: Oilprice.com
