Ghana: Petrol Tanker Accident Kills One Person, Two Others Severely Injured
One person died and two others were severely injured after a deadly accident involving a fully loaded 54,000-liter petrol tanker, two Mazda Demios and a Hyundai truck at the Asiakwa junction on the Bunso-Accra Highway.
The incident happened on Monday, July 29, 2024, at about 15:00 GMT and the timely intervention by the personnel of the Ghana National Fire Service prevented the tanker from exploding.
It is not clear what caused the accident but the GNFS wrote on its Facebook wall that the collision caused extensive fire damage, with the detached bulk tank of the DAF tanker with registration number GC 1054-11 and one Mazda Demio with registration number GW 3254-13 completely burnt.
Another Mazda Demio with registration number CR 1182-19, the Hyundai truck with registration number WR 4108-13, and the cowl of the DAF tanker were partially damaged.
The Bunso Fire Station of the Ghana National Fire Service, led by ADO I Samuel Doe, upon receiving information about the incident, quickly responded, arriving at the scene at 1530 hours.
Kyebi and Anyinam fire appliances were also dispatched to support the firefighting efforts.
“The blaze was contained within 35 minutes and fully extinguished in an hour and fifteen minutes,” the post said.
Source: https://energynewsafrica.com
Zambia: Zesco Launches Net Metering Programme To Boost Renewable Energy Adoption
Zambia’s power utility company, ZESCO Limited, has announced the commencement of the Net Metering Programme effective Thursday, August 1, 2024.
The company announced this in a press statement on Wednesday, July 31, 2024.
The implementation of the Net Metering Programme is in line with the Electricity (Net Metering) Regulations, 2024, and “it is designed to promote the adoption of renewable energy sources among our customers, allowing them to generate their electricity and feed any excess power back into the grid.”
Net metering is a system that allows prosumers (consumers who also produce electricity) to generate their power (limited to the contracted/declared demand with ZESCO) from renewable energy sources such as solar.
Any excess electricity generated can be fed back into the ZESCO grid, effectively allowing consumers to offset their electricity bills.
Not only will this system promote the use of renewable energy but also enhance energy security and sustainability in Zambia.
Benefits of Net Metering
Cost Savings: Generate your electricity and receive credits for excess power.
Environmental Impact: Reduce greenhouse gas emissions by using renewable energy
Energy Independence: Decrease reliance on traditional power sources.
Economic Growth: Create jobs in renewable energy installation and maintenance
Transfer of Net Metering Accounts
When there is a change of ownership on a property with a renewable energy system, the net metering account will be closed.
The new owner must apply for a standard electricity account and can then opt to apply for a net metering account.
Technical Specifications
To ensure high-quality supply, prospective consumers should have Grid-Tied Inverters. For a complete list of recommended equipment or technical specifications, visit the ZESCO website.
ZESCO encouraged customers to join this innovative programme to save on electricity costs and contribute to a sustainable future for Zambia.
Source: https://energynewsafrica.com
UK Raises Wind And Solar Power Budget By 50%
The UK’s government raised the amount of money to offer wind power developers in the next auction by 50% to 1.5 billion pounds, which is equal to around $2 billion.
The move follows calls from the wind power industry that they need higher guaranteed prices for their electricity in order to invest in more capacity.
The industry has been plagued by higher material costs and higher borrowing costs as well, because of higher interest rates.
The Labour government’s biggest bet is on offshore wind—it is allocating over two-thirds of the total renewables budget this year to that segment, or 1.1 billion pounds ($1.4 billion).
The remainder would be spent on onshore wind and solar, and on emerging technology such as tidal power and floating offshore wind.
Earlier this month, the chairman of RWE’s UK operations told the FT that Keir Starmer’s government needed to boost its budget for wind power significantly if it wanted to hit its own capacity installation target.
“We would urge them to increase the budget significantly and ensure they’re getting all the advice of all the relevant experts to work out how to do that,” Tom Glover said, warning that if the government failed to do that, it risked falling short by more than half of planned additions.
With the bigger budget, the government will be able to subsidize more wind and solar projects, possibly moving closer to hitting its capacity targets as part of its transition pledges during the pre-election campaign.
“This will restore the UK as a global leader for green technologies and deliver the infrastructure we need to boost our energy independence, protect billpayers, and become a clean energy superpower,” Energy Secretary Ed Miliband said, as quoted by Reuters.
Germany had a very similar subsidy system for wind and solar until recently.
Because of increasingly frequent negative electricity prices resulting from excess wind and solar generation, the government in Berlin decided to stop paying the minimum guaranteed price for these generators whenever prices swung below zero.
Source: Oilprice.com
Nigeria: Dangote Refinery To Buy Nigerian Crude Oil In Naira
Nigeria has approved the sale of crude oil to Dangote Refinery and other local refineries in naira instead of dollars.
This was disclosed by the Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, after the Federal Executive Council (FEC) meeting last Monday.
The FIRS boss said refined products of the refineries would be sold to marketers for local consumption.
In a statement issued on the development, Bayo Onanuga, Special Adviser to the President on Information and Strategy, said, “To ensure the stability of the pump price of refined fuel and the Dollar-Naira exchange rate, the Federal Executive Council, today, adopted a proposal by President Tinubu to sell crude to Dangote Refinery and other upcoming refineries in Naira.
“Dangote Refinery, at the moment, requires 15 cargoes of crude for $13.5 billion yearly. NNPC has committed to supply four.
“But the FEC has approved that the 450,000 barrels meant for domestic consumption be offered in Naira to Nigerian refineries, using the Dangote refinery as a pilot. The exchange rate will be fixed for the duration of this transaction.
“Afreximbank and other settlement banks in Nigeria will facilitate the trade between Dangote and NNPC Limited.
“The game-changing intervention will eliminate the need for international letters of credit. It will also save the country billions of dollars used in importing refined fuel.”
Source: https://energynewsafrica.com
Egypt: Energy Ministry Signs $340M Investment Deals To Boost Oil & Gas Production
Egyptian Ministry of Petroleum and Mineral Resources has signed investment deals totalling US$340 million with three oil and gas firms to boost oil and gas production.
The three agreements were signed with Shell Egypt, Petronus Gas and Cheiron Energy.
The deals, designed to enhance the North African nation’s oil and gas production in the Mediterranean and Gulf of Suez, were signed on Sunday, according to US media reports.
Egypt’s Petroleum Minister, Karim Badawi, met with senior executives from Shell Egypt, Petronus Gas and Cheiron Energy to finalise two agreements.
The first agreement signed was an approximate $222m investment deal with Shell Egypt and Malaysia’s oil and gas giant, Petronas.
The investment is a part of the tenth phase of the West Delta Deep Mining Project.
The deal includes the drilling of three wells and the establishment of marine facilities, all of which are expected to increase oil and gas production and recoverable reserves.
A second $120m deal with Cheiron Energy was finalised on Sunday.
The deal includes the drilling of nine new wells including three new huge exploration wells.
The investment is expected to eventually increase oil and gas production in the Gulf of Suez from 21,000 barrels per day (bpd) to 26,000bpd.
Badawi has been vocal about his plans to increase the overall production of oil and gas in the country.
The Minister has prioritised a focus on research and exploration to expand oil reserves, increase production capacity and develop the necessary infrastructure to reduce production costs.
The investment is to help expand on new and existing oil reserves–through advanced technologies–to increase production and improve the economic viability of Egypt’s oil and gas industry.
Source: https://energynewsafrica.com
Ghana: LMI Holdings To Name Dawa Solar Park After Ing Norbert Anku
LMI Holdings, a private firm that is into the development of industrial parks in the Republic of Ghana, has announced to honour its first Managing Director, Ing Norbert Cormla Djampos Anku, by naming its solar park at Dawa after him.
The park shall be called the Ing Norbert Anku Solar Park.
The Ing Norbert Anku Solar Park will be a 1000-megawatt peak solar plant at the company’s industrial park at Dawa, near Ada in the Greater Accra Region, by 2030.
The Managing Director of LMI Holdings who disclosed this said the company had secured a 2,300-acre land bank at Dawa for the project.
“I am happy to announce that the IFC approved in December 2023 a USD110 million facility for LMI Holdings to develop an additional 150 megawatts of solar energy in Dawa. Work has already begun in earnest,” he said.
The company intends to invest over USD1 billion into the local economy by expanding its renewable energy program over the next six years.
Source: https://energynewsafrica.com
Ghana: BOST Marine Assets Receives Oil And Gas Project Of The Year Award
The Bulk Energy Storage and Transportation Company (BOST) has received the ‘Oil and Gas Company of the Year Award’ at the recent National Project Management Conference & Project Management Excellence Awards ( NPMC & PMEA 2024) at the Rock City Hotel in the Eastern Region.
The award was in recognition of the significant contributions of the revamped marine assets of the company to the economic development of the West African nation.
The theme: ‘Sustainable Project Management Futures: Crafting a Resilient and Inclusive World’, brought together project management professionals to review performance and set new standards for future project management in the country.
BOST Marine Assets plays a crucial role in the supply of petroleum products to northern Ghana.
Source: https://energynewsafrica.com
South Africa: Eskom Blames Illegal Connections For Load Reduction In Rural Limpopo
Several rural communities in Limpopo have accused Eskom of wrongfully implementing load reduction in their areas.
Residents of Ga-Mathabatha Village, near Lebowakgomo, have been experiencing power interruptions for three weeks.
The power utility has implemented load reduction across affected areas due to illegal connections.
Some residents who spoke to SABCnews said they rely on firewood during outages.
According to them, there are no illegal connections where they live.
“We suspect that what is causing Eskom to implement load reduction could be cable theft, some of the criminals in our area steal cables, especially at homes that are abandoned. Actually, the whole issue of electricity started around June.
On the 6th of June until today. So, it has affected us because initially when children have to go to school they normally wash at around seven ‘o’ clock and the people that are working because that is the time they have to wash.”
Eskom spokesperson for Limpopo, Matshidiso Phaladi, says the main cause of load reduction in some areas is illegal connections.
Phaladi says a number of areas, including Botlokwa, parts of Thohoyandou, Zebediela and Burgersfort, have been affected.
“The continued pressures on our transformers and mini substations due to illegal connections and electricity theft, makes it necessary for us to implement load reduction so that we avoid equipment damage. And also ensure security of supply for our customers.
“We are having 75 feeders in the province that are overloaded due to illegal connections.”
Disgruntled communities in Limpopo slam load reduction
Source: https://energynewsafrica.com
To Stem Investment Elsewhere, Nigeria’s Oil Sector Requires Change(Article)
Nigeria, a previous bright spot on big oil and gas investors’ radar screens, has dimmed substantially as investor attention is increasingly drawn to new and emerging developments in Namibia, Ivory Coast, Angola, and the Republic of Congo.
With two-thirds or more of its revenue coming from oil, investor flight is a serious problem for Nigeria.
Divestments: The Reasons And The Buyers
Big foreign players, including TotalEnergies and Shell, are exiting or shifting their priorities in Nigeria, rattled by a variety of deleterious forces: an uninviting regulatory environment, lack of transparency, safety issues, vandalism, and theft, among other factors.
For a country whose economy is dependent on fossil fuels, this divestment by majors, totaling around £17 billion since 2006, is catastrophic.
Nigeria’s 37 trillion barrels of reserves can do the country no good underground. Among those looking to pull out of the country, at least in part, is France’s TotalEnergies.
The company is seeking to sell its share of Shell Petroleum Development Company of Nigeria, Limited (SPDC), although it will continue to have 18% of its investments in Nigeria.
TotalEnergies CEO Patrick Pouyanne says his company hasn’t explored for oil in Nigeria for 12 years, explaining, “There is always a new legislature in Nigeria about a new petroleum law.
“When you have such permanent debates, it’s difficult for investors looking for long-term structure to know what direction to go.”
TotalEnergies’ stance highlights the obvious — investors want predictable environments and simple, trustworthy systems of regulation.
A dearth of these factors seems to have trumped the fact that Nigeria yet contains large reserves that could be tapped.
Five global oil companies are still working in the country, but three of those — Shell, Eni, and ExxonMobil — are selling in-country assets valued at £1.8 billion, £4 billion, and £11.9 billion, respectively.
Both Shell and Eni have stated an intent to continue operating in Nigeria’s offshore sector, and ExxonMobil has expressed a commitment to continued investment in Nigeria.
Nigerian companies such as Seplat, Aiteo, and Eroton have moved quickly to buy divested assets.
So has the Nigerian government, which has been named top bidder for 57 oilfields and granted licenses to 130 firms for development.
I am pleased to see indigenous companies seizing these opportunities created by divestments.
I also urge them to take serious measures to control emissions and limit flaring, as large international firms have.
In doing so, they will be taking care of their own families, neighbors, friends, and fellow citizens, while building top-notch reputations.
Large or small companies — Nigeria must never choose one or the other. International oil companies, national oil companies, independents, and indigenous companies all have important roles to play in Nigeria’s economic growth.
Where The Investments Are Going
As I said, Ivory Coast, Namibia, the Republic of Congo, and Angola are drawing investors’ attention away from Nigeria.
Shell is pursuing deepwater blocks in Ivory Coast for exploration, while large Italian firm Eni has just added offshore Block CI-205 to its vast Murene Bailene discovery of 2021.
Production from the Baleine discovery has shot Ivory Coast’s production to 30,000 barrels per day (bpd), a number that is expected to rise an astonishing 556% to 200,000 bpd by 2027.
All of this is happening while Ivory Coast is successfully emphasizing carbon-reducing technologies and natural gas as a transition fuel.
Overseas investment has also spurred significant recent discoveries in Namibia, earning the country the nickname, “new Guyana.”
(That South American country’s crude oil production soared by a yearly average of 98,000 bpd from 2020 to 2023, making Guyana the third-fastest growing non-OPEC oil-producing country.)
Notable among recent Namibian discoveries is TotalEnergies’ Venus Discovery, for which the French major is seeking approval to move ahead by the close of 2025.
Venus is expected to produce up to 180,000 bpd of oil.
TotalEnergies is also looking to invest $600 million in exploration and production in the Republic of Congo’s Moho Nord deep offshore field this year.
As I have said before, this kind of investment is evidence that the company is in the Republic of Congo to stay.
Angola, too, has become a major investment site for TotalEnergies. The firm’s CEO has said it will invest $6 billion in energy in Angola, as “a country with a more stable policy framework.”
Nigerian Reforms and Rules Changes
March 2024 brought some much-needed federal policy reforms to Nigeria’s petroleum industry in the form of presidential executive orders and policy directives.
The reforms are aimed at improving the country’s investment environment and reinvigorating growth in its petroleum industry.
The changes include investor tax credits, an investment allowance, simplifying contracting procedures, and easing local content rules.
The tax credits apply to non-associated gas greenfields — that is, new ventures — both onshore and in shallow water and vary according to hydrocarbon liquids (HCL) content.
The credit becomes an allowance after 10 years, making it an ongoing investment incentive.
A 25% investment allowance has also been added for qualified capital expenditures (QCEs) on plants and equipment, cutting down on large capital outlays and thus encouraging industry growth and improvement.
Changes in third-party contracting aim to decrease both contracting costs and the time it takes for companies to get to production.
The new rules encompass financial approval thresholds, consent timelines, and contract duration.
The requirements call for only one level of approval at each contract stage and establish time limits for completion of approvals.
Local content requirements have also been modified to take local capacity into account, enabling investors to keep their projects cost competitive.
Overall, the executive orders help clear up the regulatory fog that has been discouraging major investment and will hopefully help the country regain its status among investors.
The Economy and the New Licensing Round
It’s been estimated that Nigeria requires USD 25 billion of investment per year to keep its production at 2 million bpd — a level that will sustain the nation’s economy.
Historically, 2014 marked the peak of investment in Nigerian oil at USD 22.1 billion.
The federal government is strategizing for increased oil production to meet this fiscal need in an environment where vandals have attacked pipelines and stolen oil — factors the government has claimed as reasons it has fallen short of its 1.5 million bpd OPEC quota.
(Though not by much: for example, production in March 2024 declined from 1.47 million bpd to 1.45 million bpd, according to S&P Global Commodity Insights.)
Looking to improve those figures in the remainder of 2024, the government’s target is 1.78 million bpd.
Although recent problems on the Trans Niger Pipeline and maintenance by oil companies have dropped output, President Bola Tinubu expects a return to target levels.
By using every available well to increase production and revenue, the government aspires to increase crude production to 2.6 million bpd by 2027.
In April 2024, Nigeria began a new oil and gas licensing round, with an attached promise to investors that the process would be transparent.
The new round is intended to help stem the flow of investments to African competitors like Angola and Namibia by easing the process of acquiring oil blocks.
The new licensing round offers 19 onshore and deepwater oil blocks, plus an additional 17 deep offshore blocks.
These were chosen for their attractiveness to foreign investors who have both the necessary finances and technical savvy to develop the areas.
Successful bidders will be held to precise exploration timelines.
Bidding had begun on seven offshore blocks in 2022 but was delayed for the installation of a new government — just the sort of shaky situation large foreign investors like to avoid.
With that experience in mind, Nigeria must work tirelessly to mitigate not only government instability, but other factors that discourage investment, be they regulatory hurdles, lack of transparency, or safety and security issues.
Source: NJ Ayuk, Chairman of African Energy Chamber
Ghana: VRA Meets Interior Ministry And Security Agencies On Emergency Preparedness
The Volta River Authority (VRA), managers of the Kpong and Akosombo Hydroelectric Dams, has held its annual stakeholders’ engagements with security services as part of its Emergency Preparedness Plan.
The officials of VRA, led by the Deputy Chief Executive (Services), Ing Ken Arthur, met with the Minister of Interior, Henry Quartey, and representatives from the various security agencies.
The meeting followed the Volta River Authority’s ongoing sensitisation efforts in downstream communities south of the Akosombo Dam, which were impacted by the spillage last year.
The VRA has, so far, engaged traditional authorities, religious leaders and opinion leaders in the ten impacted districts–East Ada, West Ada, Shai-Osudoku, Asuogyaman, Lower Manya Krobo, North Tongu, Central Tongu, South Tongu, Keta and Anloga–in the Greater Accra, Eastern and Volta Regions.
Tabling the issues, Ing Arthur explained that stakeholder engagement and community sensitisation have become necessary due to the rainy season and the anticipated volumes that could occur.
He stated that the precautionary discharge could become a necessity if the volume of rains goes up, even though the current level of water in the Akosombo Dam is relatively lower than the same time last year.
On the part of the security agencies, the representatives assured of their readiness and support should there be a need for a precautionary discharge.
Present at the meeting included the Deputy Minister, the Honourable Naana Eyiah, Ag. Chief Director at the Ministry of Interior, Doreen Annan, and the Technical Advisor at the Ministry of the Interior, Samuel Amankwah.
Source: https://energynewsafrica.com
Ghana: Minister, ERERA Chairman, Others Rally For Energy Security In West Africa
The 9th Forum of the ECOWAS Regional Electricity Regulatory Authority (ERERA) opened on July 24, 2024, in Accra, Ghana with a resounding call for increased regional cooperation to address the complex challenges of electricity trade security in West Africa.
High-level officials, industry experts, and international partners are gathered to discuss the theme, “Electricity Trade Security in ECOWAS Region: The Interplay Between National Policies and Free Market Principles.”
In his keynote address, the Minister of State at the Ministry of Energy, Ghana, Mr. Herbert Krapa, emphasized the critical role of energy security in the region’s development.
He stated, “Energy security has become a central theme in all geo-political debates due to its critical role in shaping the economic, political, and strategic interests of nations.
“For West Africa, harnessing its energy resources effectively is crucial for domestic development but also for our role in global energy markets.”
Mr Krapa highlighted the importance of international relations in attracting investments, saying, “Political stability, robust diplomatic relations, and transparent regulatory frameworks are crucial factors that attract international investors by mitigating risks and providing a predictable business environment.”
The Minister went on to discuss several key aspects of energy security in the region. He emphasized the application of free market principles in the West African electricity sector and the need to balance national energy security with regional trade benefits.
Mr Krapa also stressed the importance of harmonizing national policies and regulations to create a more cohesive regional approach.
Furthermore, he highlighted the role of technological innovations and infrastructure development in enhancing energy security, as well as strategies for attracting investments in cross-border electricity infrastructure.
Mr Krapa concluded his address by saying, “By embracing these principles, West Africa can harness its energy potential to drive economic growth, enhance regional stability, and contribute to global energy security.”
Engr. Kocou Laurent Rodrigue Tossou, Chairman of ERERA, echoed these sentiments in his address, stressing the need for a unified approach to energy challenges.
He remarked, “We must strive to be interdependent in energy supply and our actions to address future global challenges and conditions. We must work together to build infrastructure and electricity systems that adapt to all our needs.”
Engr. Tossou also addressed the current global energy crisis, stating, “We are facing increasing pressure on oil and gas prices, which also increases the cost of energy supply in our Member States and production costs for our electricity companies.
As a result, we face rising commodity supply costs and inflation, affecting our economies’ competitiveness and growth.”
Chairman Tossou reinforced the message of regional cooperation, adding: “We must collectively identify innovative financing options for our energy projects and define development objectives and policies for our countries emphasizing the energy sector.”
The forum was organized in collaboration with Ghanas Energy Commission and the Public Utilities Regulatory Commission (PURC) with the support of various partners, including the European Union, the United States Agency for International Development (USAID), the African Development Bank (AfDB), the German International Cooperation (GIZ), and the Tony Blair Institute.
Their continued commitment to the region’s energy sector development was acknowledged and appreciated by all participants.
Source: https://energynewsafrica.com
Ghana: NPA Boss Sweeps Two Awards At The Ghana CEO Awards 2024
The Chief Executive Officer of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid has been awarded CEO of the Year Oil and Gas (Downstream) and the CEO of the Year Public Sector, respectively at the 3rd edition of the Ghana CEO awards 2024, held at the Kempinski Hotel Gold Coast City in Accra.
Both awards were given to Dr. Mustapha Abdul- Hamid in recognition for his exceptional business practices, achievements, and leadership qualities exhibited at the National Petroleum Authority (NPA) in driving economic growth while making meaningful contributions to the overall economy.
It will be recalled that the NPA Boss was adjudged the Best CEO of the year 2023, and also, in 2022, he received the Outstanding Public Sector CEO’s Award.
This year, however, Dr. Abdul -Hamid carried home two different awards – CEO of the Year Oil and Gas (Downstream) and the CEO of the Year Public Sector, crowning his hardwork and examplarly leadership as the CEO of the National Petroleum Authority (NPA).
In his remarks, the Chief Executive Officer of the National Petroleum Authority( NPA), who doubles as the President of the Africa Refiners and distributors Association (ARDA) Dr. Mustapha Abdul- Hamid dedicated the two awards to the Directors, Departmental heads as well as Management, and staff of the NPA for their hard work and dedication towards the tenet and vision of the National Petroleum Authority.
He said, this year’s theme, “CEO’s for Climate: Steering Towards a Greener Future” is timely and appropriate, given that global warming and climate change has been at the top on the government of Ghana’s agenda in recent years.
According to him, energy solutions that addresses developmental issues related to economic growth, environmental, and social equity are simultaneously needed by developing nations
Dr. Mustapha Abdul-Hamid, therefore, affirmed the NPA’s commitment to ensuring Ghana achieves its target of cleaner energy levels by 2030.
Adding that, the National Petroleum Authority (NPA) guided by Act 691 will continue to supervise the downstream industry to supply environmentally sustainable oil and gas products to consumers.
This year’s award brought together individuals demonstrated to be a model of business excellence in the private and public sector to recognize their significant role in driving economic growth while making meaningful changes in Ghana’s economy.
The Guest of Honour, Vice President of the Republic of Ghana Dr. Mahamadu Bawumia, whose speech was read on his behalf by the Minister of Information, Hajia Fatimatu Abubakar, acknowledged the immense contributions the private and public sector have made over the years to Ghana’s economy.
He urged them to also support the government in it quest to achieve a greener future in Ghana.
The CEO of the Year Awards is an annual prestigious celebration meant to acknowledge individuals who embody exceptional business practices, achievements, and leadership qualities in Ghana.
This prestigious accolade recognizes their significant role in driving economic growth while making meaningful contributions to the economy.
Source: https://energynewsafrica.com
TAFE Announces New Nuclear Fusion Technology
The Tomoiu Advance Fusion Energy Corp (TAFE), led by principal scientist Constantin Tomoiu, a pioneering inventor, has announced that it has successfully developed the nuclear fusion technology called Tomoiu Internal Confinement Fusion (TICF).
Tomoiu Internal Confinement Fusion, TICF is the only working technology in the energy development sector able to harness nuclear fusion energy in a controlled and continuous manner.
Tomoiu is poised to introduce TICF to the world, as it faces the energy crisis and climate change.
“The technology is fully developed and ready to power the world with clean and limitless energy,” said Tomoiu.
“TICF is the key to saving our planet. TICF is not a concept or a promise, it is a reality and ready to significantly improve the environment in use as a clean source of power.”
Tomoiu added, “Now that the working fusion technology is up and running, I am seeking investor partners to bring the technology into commercial production.”
TICF is a hybrid chemical-thermonuclear fusion process. It does not use electric energy or any external source of energy to heat, compress, and confine simultaneously multiple micro-plasmas.
TICF does not use Deuterium and Tritium. Tritium is radioactive and harmful to the environment.
From April 2013 to March 2022, Tomoiu developed ten reactors that were independently tested at the University of Maryland and City University of NY (CUNY).
Five additional independent laboratories have reported the generation of continuous net energy.
Documentation of more than two thousand certified pages, collected from laboratory testers include reports, PowerPoint presentations, and collected data.
The success and merit of TICF technology is being celebrated by all who have evaluated the sustainable energy source.
Source: https://energynewsafrica.com
Global Electricity Demand Set To Rise Strongly In 2024 And 2025
Global electricity demand is forecast to grow by around 4% in 2024, up from 2.5% in 2023, the IEA’s Electricity Mid-Year Update finds.
This would represent the highest annual growth rate since 2007, excluding the exceptional rebounds seen in the wake of the global financial crisis and the Covid-19 pandemic.
The strong increase in global electricity consumption is set to continue into 2025, with growth around 4% again, according to the report.
Renewable sources of electricity are also set to expand rapidly this year and next, with their share of global electricity supply forecast to rise from 30% in 2023 to 35% in 2025.
The amount of electricity generated by renewables worldwide in 2025 is forecast to eclipse the amount generated by coal for the first time. Solar PV alone is expected to meet roughly half of the growth in global electricity demand over 2024 and 2025 – with solar and wind combined meeting as much as three-quarters of the growth.
Despite the sharp increases in renewables, global power generation from coal is unlikely to decline this year due to the strong growth in demand, especially in China and India, according to the report.
As a result, carbon dioxide (CO2) emissions from the global power sector are plateauing, with a slight increase in 2024 followed by a decline in 2025.
However, considerable uncertainties remain: Chinese hydropower production recovered strongly in the first half of 2024 from its 2023 low. If this upward trend continues in the second half of the year, it could curb coal-fired power generation and result in a slight decline in global power sector emissions in 2024.
Some of the world’s major economies are registering particularly strong increases in electricity consumption.
Demand in India is expected to surge by a massive 8% this year, driven by strong economic activity and powerful heatwaves.
China is also set to see significant demand growth of more than 6%, as a result of robust activity in the services industries and various industrial sectors, including the manufacturing of clean energy technologies.
After declining in 2023 amid mild weather, electricity demand in the United States is forecast to rebound this year by 3% amid steady economic growth, rising demand for cooling and an expanding data centre sector.
By contrast, the European Union will see a more modest recovery in electricity demand, with growth forecast at 1.7%, following two consecutive years of contraction amid the impacts of the energy crisis.
In many parts of the world, increasing use of air-conditioning will remain a significant driver of electricity demand. Multiple regions faced intense heatwaves in the first half of 2024, which elevated demand and put electricity systems under strain, the report finds.
“Growth in global electricity demand this year and next is set to be among the fastest in the past two decades, highlighting the growing role of electricity in our economies as well as the impacts of severe heatwaves,” said Keisuke Sadamori, IEA Director of Energy Markets and Security.
“It’s encouraging to see clean energy’s share of the electricity mix continuing to rise, but this needs to happen at a much faster rate to meet international energy and climate goals. At the same time, it’s crucial to expand and reinforce grids to provide citizens with secure and reliable electricity supply – and to implement higher energy efficiency standards to reduce the impacts of increased cooling demand on power systems.”
With the rise of artificial intelligence (AI), the electricity demand of data centres is drawing increased attention, underscoring the need for more reliable data and better stocktaking measures.
The report highlights the wide range of uncertainties concerning the electricity demand of data centres, including the pace of deployment, the diverse and expanding uses of AI, and the potential for energy efficiency improvements. Better collection of electricity consumption data of the data centre sector will be essential to identify past developments correctly and to better understand future trends.
The IEA has been a frontrunner in studying the links between the energy sector and digitalisation.
To explore the opportunities and challenges ahead, the IEA has launched a major new initiative: Energy for AI & AI for Energy.
As part of this initiative, the IEA will consult with governments, industry, researchers and civil society experts. A major milestone will be the Global Conference on Energy and AI, taking place in Paris on 5 December 2024.