Ghana: ECG Pays First Tranche Of US$30M To Sunon Asogli To Avert Indefinite Shutdown Of 560MW Plant
The Electricity Company of Ghana (ECG) last Thursday paid the first tranche of US$30million out of the US$60million it committed to paying Sunon Asogli Power Ghana Limited, the country’s largest independent power generation company after the power producer threatened to shut down its 560MW power plant indefinitely.
The power distribution company, which is responsible for distributing electricity in southern Ghana owes Sunon Asogli Power Ghana Limited about US$840million, comprising $440million receivables and $400 million Power Purchase Agreement related claims.
The huge debt, according to the power distribution company, is having a serious impact on its operational capacity and making it impossible to continue to operate without addressing the financial challenges.
On Monday, December 4, Sunon Asogli wrote to the Managing Director of ECG Mr Samuel Dubik Mansubir Mahama and copied, the Minister for Finance, Energy Minister Dr Matthew Opoku Prempeh, PURC, GRIDCo and Energy Commission informing them about the intended shut down of their power plant by 6pm on Monday.
Bearing in mind the consequences of the shutdown of the plant, the Minister for Finance intervened and gave a firm assurance of paying US$60million in two tranches.
Per a letter written to the ECG MD by the Chairman of Sunon Asogli Power Ghana, Mr Qun Yang, the ECG was supposed to pay US$60million with first tranche of US$30million last week and the second tranche of US$30million this week.
Speaking on Accra based -Citi FM monitored by energynewsafrica.com, Managing Director of ECG Samuel Dubik Mansubir Mahama Esq confirmed the payment of US$30million to Sunon Asogli Power Ghana Limited.
“Sunon Asogli has received $30 million from the government of Ghana, and the conversations are far advanced for a second tranche of another $30 million to be paid to them. Sunon Asogli has always been an integral part of our growth.
They are very good partners that we intend to grow with,” Mahama said.
He further highlighted plans to renegotiate outstanding Power Purchase Agreements (PPAs) with Sunon Asogli, aiming to make them more efficient and cost-effective for the benefit of the Ghanaian people.
A source within Sunon Asogli Power Ghana Limited confirmed receipt of the first tranche stating that they are hoping to receive the second tranche this week.
Source: https://energynewsafrica.com
Nigeria: Africa’s Largest Refinery Dangote Refinery Takes Delivery Of 1m Barrels of Crude To Start Processing
Africa’s largest oil refinery, Dangote Refinery, has taken delivery of 1 million barrels of Agbami crude from Shell International Trading and Shipping Company (STASCO), one of the largest trading companies in Nigeria, to begin operations.
In a statement, the company said the maiden 1 million barrels, which represent the first phase of the 6 million barrels of crude oil to be supplied to Dangote Petroleum Refinery by a range of suppliers, should sustain the initial 350,000 barrels per day to be processed by the facility.
The company said next four cargoes will be supplied by the NNPC in two to three weeks and the final of the six cargoes will be supplied by ExxonMobil.
“This supply will facilitate the initial run of the refinery as well as kick-start the production of diesel, aviation fuel, and LPG before subsequently progressing to the production of Premium Motor Spirit (PMS),” the company said.
The refinery, with a capacity of 650,000 barrels per day (bpd), will meet 100% of Nigeria’s demand for all refined petroleum products and will also have a surplus of each of these products for export.
The refinery is designed to process Nigerian crude with the ability to also process other crudes.
The project cost around $20 billion, up from initial cost estimates of between $12 billion and $14 billion.
Commenting on the delivery of the 1 million barrels of crude, President of the Dangote Group, Mr. Aliko Dangote stated: “We are delighted to have reached this significant milestone.This is an important achievement for our country as it demonstrates our ability to develop and deliver large capital projects.Our focus over the coming months is to ramp up the refinery to its full capacity. I look forward to the next significant milestone when we deliver the first batch of products to the Nigerian market.”
Country Chairman of Shell Companies in Nigeria, Mr. Osagie Okunbor stated: “We welcome the startup of a refinery that is designed to produce gasoline, diesel, and low-sulphur fuels for Nigeria and across West Africa and are happy to be enabling it.”
Meanwhile, some Nigerias have taken to social media to celebrate Aliko Dangote and the Management of the refinery for their efforts of completing the project and starting the refinery.
Bashir Ahmad, former aide to ex-President Muhammadu Buhari, said the event marks a significant milestone for Nigeria and the Dangote Group.
Taking to X formerly Twitter, Bashir Ahmad wrote: ”Heartfelt congratulations to Alhaji @AlikoDangote on the successful takeoff of the Dangote Refinery.The monumental achievement marks a significant milestone for the esteemed Dangote Group, Nigeria’s oil market, and the broader economy.”
Source: https://energynewsafrica.com
Dubai: Ghana Seeks Investors For Us$550 Billion Energy Transition Plan At Cop28
Ghana is seeking investors to be able to undertake projects outlined in the Energy Transition Plan which requires about US$550 billion capital to realise.
The Energy Transition Plan, among other things, aims to scale up renewable energy and introduce nuclear energy in the country’s energy mix, and for the deployment of clean cooking solutions and low-carbon solutions such as Carbon Capture Utilisation and Storage.
Addressing a gathering of investors during Ghana Day at the Ghana Pavilion at the Conference of Parties (COP28) currently underway in Dubai, UAE., Ghana’s Minister for Energy, Dr Matthew Opoku Prempeh, said he anticipated that the majority of the funding for the projects would come from private sector capital and de-risking instruments.
The Government of Ghana, according to the Minister, would pursue policy reforms and provide a suitable environment for the execution of the energy transition projects.
“Investments are also needed for the deployment of electric vehicles in replacement of Internal Combustion Engines, the construction of electric and hydrogen fuel cell charging stations, the production of biofuels, the replacement of biomass industrial boilers with electric boilers, and the provision of energy-efficient electrical appliances for the residential and service sectors among others,” he said.
He continued that “the realisation of the requisite capital would culminate in universal access to affordable and reliable power by 2024, economy-wide decarbonization, socio-economic development, about 400,000 new jobs, and above all, net-zero emissions in the country by 2060.”
The South Manhyia lawmaker used the opportunity to invite all investors to partner with the Government of Ghana to undertake the projects in the country’s Energy Transition Framework to drive industrialisation and achieve the net-zero targets.
“As I said earlier, our doors are always open and I look forward to several partnerships,” he concluded.
Source: https://energynewsafrica.com
Cop28: Mozambique’s $80 Billion Energy Transition Will Leverage Its Vast Renewable Resources -Filipe Nyusi
Mozambique’s $80 billion energy transition strategy will leverage the country’s vast renewable resources to position the country as a sustainable investment destination and deliver energy to its people, President Filipe Nyusi said at the COP28 summit in Dubai.
Speaking on the third day of the COP28 UN climate conference, President Nyusi said Mozambique will still harness the potential of its offshore natural gas reserves in a diverse energy mix that will also exploit its abundant hydroelectric, wind and solar resources.
While transitioning to a decarbonised future, Mozambique must continue to grow and meet the needs of the half of its population that does not have access to electricity, he said.
“There are two realities that are a dilemma in the face of our ambitions: as a developing country, less than 53 per cent have access to energy.
Then, our country has reserves of 180 tcf (trillion cubic feet), with two structuring liquefied natural gas projects with the potential to generate resources,” Nyusi said at the high-level panel event.
“The strategy’s mission is to leverage Mozambique’s abundant renewable and natural resources to accelerate the trajectory of low-carbon socio-economic development,” he said.
Mozambique’s energy transition will require major investments in new technologies associated with electric vehicles, green hydrogen, digitalisation and training young people.
“We estimate that more than $80 billion in public and private investment is needed by 2050.
To fully realise this ambitious potential of the energy transition strategy, the opportunities for short-term investments to be financed amount to $3 billion next year alone,” said Mozambique’s Minister of Mineral Resources and Energy, Carlos Zacarias.
“We want partners, not just donors; the future is undoubtedly bright, but we must work together decisively.”
Dr Akinwumi Adesina, President of the African Development Bank Group, lent his support to the ambitious programme and said even as the world moves to lessen its dependence on fossil fuels, Mozambique cannot ignore its natural gas potential.
“African countries, and in this case Mozambique, should use an energy mix of hydroelectric power and natural gas,” Dr Adesina said during the panel discussion.
“To those who say that natural gas creates a lot of problems, I reply that it doesn’t, really.
How can we justify having 600 million people without electricity? And having 900 million people without clean cooking in the 21st century? We need a balanced energy mix that allows access to energy, with energy security and stability,” he added.
Fatih Birol, Executive Director of the International Energy Agency, noted that Africa only accounts for 3% of the global greenhouse cause emissions that cause climate change.
Therefore, holding the continent back from developing its hydrocarbon reserves would be unjust.
“If you develop all the deposits, all of them, these emissions will rise from 3 to 3.4 per cent, which is nothing.
Africa must use clean energies, but natural gas is necessary for some applications and industrial sectors that need very hot temperatures for processes.
I say this so that my colleagues in Africa don’t feel guilty about using their gas resources,” he said.
Former UK Prime Minister Tony Blair, co-hosting the event as President of the Tony Blair Institute, agreed that Africa’s people must feel the benefit of the continent’s energy transition.
“The only way to solve the problem of climate change is to link clean energy and economic development. If clean energy doesn’t help people, it will never work,” he said.
Mozambique’s energy strategy is based on four pillars, Minister Zacarias said: expanding clean energy capacity through hydroelectric projects and solar and wind power plants to offset the share of fossil fuels in the energy matrix; capitalising on green industrialisation through integrated projects around industrial corridors such as the Nacala corridor; increasing programmes towards universal access to energy by 2030 through clean cooking solutions and solar mini-grids; promoting green transport, introducing electric vehicles, as well as increasing the use of gas-powered vehicles and promoting biofuels.
The COP is the single largest global platform for nations to negotiate an agreed way forward to tackle climate change.
The gathering also brings together major stakeholders engaged in climate change: governments, the private sector, youth and civil society.
The theme of this year’s conference is Unite, Act, Deliver.
Source: https://energynewsafrica.com
Global Leaders Call For Increased Resources To Provide 1 Billion People With Clean Cooking Solutions In Africa
Africa requires $4 billion in annual investment,to provide 250 million with clean cooking energy, says the Executive Director of the International Energy Agency (IEA) Fatih Birol.
Birol said developed nations must scale up their funding to provide clean cooking solutions to 900 million households in Africa and warned, “without solving the problem of clean cooking in Africa, the global plan of decarbonising would not be meaningful.”
“We believe this issue should be solved because it is a stain on humanity,” Birol told a high-level event to promote access to clean cooking held on the sidelines of COP28 in Dubai.
He announced plans to make clean cooking a key topic on the IEA’s global conference agenda involving more than 50 governments in February 2024.
The President of the African Development Bank Group Dr Akinwumi Adesina said the bank will allocate up to 20 percent of its approved annual lending for energy toward clean cooking solutions.
The Bank’s contribution will generate $2 billion for clean cooking over the next 10 years, Adesina said in a call to action to provide universal access to clean cooking for women in Africa.
Adesina urged national governments to allocate at least 5 percent of the current $70 billion annual energy investment for the provision of clean cooking solutions.
He said accessibility and affordability to clean cooking solutions should be assured in the development of liquefied petroleum gas upstream capacity, especially for production, storage and distribution infrastructure.
Adesina said multilateral development banks should set aside a significant share of their annual energy financing to provide clean cooking solutions.
Close to one billion people in Africa do not have access to clean cooking and rely on biomass or kerosene, which cause high levels of indoor air pollution.
As a result, about 600,000 African women and children die annually from the hazards of cooking with wooden biomass or fossil fuels, according to official data.
The global economic cost of women’s time lost in search of fuel wood is estimated at $800 billion annually. The health cost is estimated at $1.4 trillion annually.
Globally, universal access to clean cooking will reduce carbon dioxide emissions by 1.5 g tonnes through 2030.
Adesina said, “Providing access to clean cooking is clearly doable in Africa.
Let us prioritise saving the lives of women and children; let us make it easier for women to cook in dignity and safety. Clean cooking will save forests, climate and lives of women and children.”
Tuesday’s event, titled: “A Call for Action: Universal Clean Cooking Access in Africa,” saw the unveiling of an Africa Clean Cooking Consortium to accelerate universal access to clean cooking solutions across the continent.
It brought together the African Union Commission, five African governments—Kenya, Tanzania, Sierra Leone, Uganda and Senegal—as well as the government of Ireland and the private sector.
Adesina said the Bank is ready to forge partnerships to promote universal clean cooking in Africa.
“The African Development Bank stands ready to work with everybody—all the partners—to mobilise the resources and the political actions, and the policy shifts that are necessary to get this done once and for all.
So today, I ask that we create a spark that will trigger a movement to resolve this problem that will assure 100 percent access to clean cooking for women in Africa.”
The President of Sierra Leone, Julius Maada Bio, affirmed the commitments of African governments to prioritise clean cooking across the continent.
“We will stand together as leaders of Africa to bring clean cooking to the highest political level and make it a priority development issue for the whole world,” President Bio said in his message to COP28 participants, delivered by Dr Kandeh Yumkella, Chairman of the Special Initiative on Climate Change, Renewable Energy and Food Security in Sierra Leone.
Ireland’s Minister for Climate Eamon Ryan commended African leaders for uniting around climate change and putting the continent at the Centre of global discussions.
He urged the developed world to deliver on its financing commitments to developing countries, including Africa.
Many African governments, including Kenya and Sierra Leone, are prioritising clean cooking.
In September, Kenya announced the inaugural Clean Cooking Delivery Unit, a team of experts embedded within its president’s office, to accelerate clean cooking access. Sierra Leone has announced similar plans.
Source: https://energynewsafrica.com
Mauritania: AMEA Power To Develop Solar, Wind, Green Hydrogen To Increase Energy Capacity
Emirati renewable energy firm, AMEA Power, has signed two memorandum of understandings (MoUs with Mauritania for the development of a 100 MW wind farm and 100 MW solar photovoltaic (PV) plant in the West African nation at the COP28 in Dubai, UAE.
The projects is to pave the way for the establishment of a 1 GW green hydrogen project in-country.
The company has signed several MoUs during the summit aimed at expanding its footprint in renewable energy ventures in Africa.
These include an agreement to develop a 300 MW wind farm in Ethiopia, representing the country’s first Independent Power Producer; a 200 MW Paka geothermal project in Kenya; the expansion of its flagship solar PV plant in Togo; a solar and battery project in Djibouti; and a 200 MW solar PV power plant in Mozambique.
At the previous edition of COP, AMEA Power signed an agreement with the Egyptian Government to spearhead a 1,000 MW green hydrogen project, targeting the production of 800,000 tonnes of green ammonia annually, primarily for export.
Following Egypt’s lead, Mauritania is now actively engaging in the green hydrogen race, aspiring to emerge as a hub for production and export by 2030.
Other notable projects contributing to this vision include AMAN by CWP Global and NOUR by Chariot Energy and TotalEnergies.
Russia And Saudi Arabia Urge All Opec+ Powers To Join Oil Cuts
Saudi Arabia and Russia, the world’s two biggest oil exporters, on Thursday called for all OPEC+ members to join an agreement on output cuts for the good of the global economy just days after a fractious meeting of the producers’ club.
Hours after Russian President Vladimir Putin went to Riyadh in a hastily arranged visit to meet Saudi Crown Prince Mohammed bin Salman, the Kremlin released a joint Russian-Saudi statement about the conclusion of their discussions.
The Organization of the Petroleum Exporting Countries, Russia and other allies agreed last week to new voluntary cuts of about 2.2 million barrels per day (bpd), led by Saudi Arabia and Russia rolling over their voluntary cuts of 1.3 million barrel per day (bpd).
“In the field of energy, the two sides commended the close cooperation between them and the successful efforts of the OPEC+ countries in enhancing the stability of global oil markets,” the statement released by the Kremlin said.
“They stressed the importance of continuing this cooperation, and the need for all participating countries to join to the OPEC+ agreement, in a way that serves the interests of producers and consumers and supports the growth of the global economy,” the statement, which was in Russian, added.
The Russian version used the word “join” while an English translation of the statement, also released by the Kremlin, used the word “adhere” to the OPEC+ agreement.
Saudi state news agency SPA said that the crown prince, known as MbS, and Putin had stressed in their meeting the need for OPEC+ members to commit to the group’s agreement.
Sources in the oil market said such an explicit public remark from the Kremlin and the kingdom about “joining” cuts appeared like a hint aimed at specific oil powers.
Putin will hold talks with Iranian President Ebrahim Raisi in Moscow on Thursday.
Mystery still surrounds Putin’s trip to Riyadh and Abu Dhabi, on which he was escorted by four Russian fighter jets, and it was not immediately clear what particular issue was so important for Putin to make a rare overseas trip.
The Kremlin said Putin and MbS also discussed the conflicts in Gaza, Ukraine and Yemen, the Iranian nuclear programme and deepening defence cooperation.
OPEC+, whose members pump more than 40% of the world’s oil, had to delay its meeting over disagreements about output with African producers, though some oil traders said they suspected a deeper schism inside the group.
After the producers decided to cut, oil prices fell to a five month low – a clear sign that the market had expected more forthright action from OPEC+.
Putin and MbS, who together control one-fifth of the oil pumped each day, were shown with smiles and engaging in an effusive handshake as Putin emerged from his car in the Saudi capital.
Both MbS, 38, and Putin, 71, want – and need – high prices for oil – the lifeblood of their economies.
The question for both is how much of the burden each should take on to keep prices aloft – and how to verify the burden.
At the talks with MbS, Putin said that a planned visit by the prince to Russia had been changed at the last minute, prompting him to visit Riyadh.
“We awaited you in Moscow,” Putin told MbS with a smile.
“I know that events forced a correction to those plans but as I have already said nothing can prevent the development of our friendly relations.”
Putin then said: “But the next meeting should be in Moscow.”
The crown prince said through a Russian translator that he was of course ready to do that.
“Then we are agreed,” Putin said.
Source: Reuters.com
OPEC+, whose members pump more than 40% of the world’s oil, had to delay its meeting over disagreements about output with African producers, though some oil traders said they suspected a deeper schism inside the group.
After the producers decided to cut, oil prices fell to a five month low – a clear sign that the market had expected more forthright action from OPEC+.
Putin and MbS, who together control one-fifth of the oil pumped each day, were shown with smiles and engaging in an effusive handshake as Putin emerged from his car in the Saudi capital.
Both MbS, 38, and Putin, 71, want – and need – high prices for oil – the lifeblood of their economies.
The question for both is how much of the burden each should take on to keep prices aloft – and how to verify the burden.
At the talks with MbS, Putin said that a planned visit by the prince to Russia had been changed at the last minute, prompting him to visit Riyadh.
“We awaited you in Moscow,” Putin told MbS with a smile.
“I know that events forced a correction to those plans but as I have already said nothing can prevent the development of our friendly relations.”
Putin then said: “But the next meeting should be in Moscow.”
The crown prince said through a Russian translator that he was of course ready to do that.
“Then we are agreed,” Putin said.
Source: Reuters.com
South Africa: TotalEnergies Divests Stake In Refinery To Prax Group
TotalEnergies has entered into an agreement with British multinational fuel company, Prax Group, to divest its 36.6% stake in the National Petroleum Refiners of South Africa (NATREF) refinery.
The 108,500 barrel-per-day, joint venture midstream business and refinery facility, located in Sasolburg in Free State Province is operated and owned by TotalEnergies Marketing South Africa and South African energy firm, Sasol.
According to TotalEnergies, the deal aligns with its commitment to divest its non-core assets to concentrate on large-scale, integrated fuels and petrochemicals platforms.
For Prax Group, the acquisition represents a significant milestone, signifying its entry into the South African energy market and aligning with the company’s broader growth strategy.
“The acquisition marks another significant milestone for the Prax Group and will create unique opportunities across the South African supply chain, meeting the needs of customers and communities for years to come,” Sanjeev Kumar Soosaipillai, Chairman and CEO of Prax Group, said.
Source: https://energynewsafrica.com
Venezuela Orders “Immediate” Start Of Oil Exploration In Disputed Territory
Venezuela’s president, Nicolas Maduro, has ordered the immediate start of exploration and exploitation of oil reserves in the Essequibo region—the disputed territory that Venezuelans voted to annex.
Per an AP report, President Maduro said that he is “to grant operating licenses for the exploration and exploitation of oil, gas and mines in the entire area of our Essequibo.”
He also issued an order for the creation of local subsidiaries of the state oil and mining companies, PDVSA and Corporacion Venezolana de Guayana.
The Venezuelan parliament has yet to pass a law establishing Venezuela’s jurisdiction over the Essequibo region, which represents two-thirds of the territory of Guyana and is where its oil riches are concentrated.
Guyana has refused to accept the results of the Venezuelan referendum, saying it was an attempt at annexing most of its territory, even after the International Court of Justice ruled that Essequibo is part of Guyana. Venezuela’s government has said it does not recognize the jurisdiction of the ICJ on the matter.
Essequibo used to be part of Venezuela during its colonial period but at the end of the 19th century an international arbitration gave the land to Guyana, then a British colony. Venezuela has never accepted the arbitration decision but for most of the time since it was made it has not acted on its grievance.
Following last weekend’s referendum, Guyana said it will reach out to the UN Security Council
for help if Venezuela takes any further steps to establish control over the Essequibo region.
The Attorney General of the former British colony told the AFP that “any action or any attempt to take any action pursuant to the referendum will necessitate a resort to the UN Security Council as an injured party.”
As Maduro yesterday announced the set-up of a Comprehensive Defense Operational Zone for the Essequibo region, Guyana’s Attorney General said that “In terms of military, it (the UNSC) can authorise the use of armed forces by member states to assist in the enforcement.”
Source: Oilprice.com
Cop28: African Countries Sign On To Join Pioneering Global Battery Energy Storage Consortium
Several African countries have formally expressed interest to join the groundbreaking Battery Energy Storage Systems (BESS) Consortium, which was launched last Saturday during COP28.
The initiative could revolutionise Africa’s energy landscape by developing advanced energy storage solutions through collaboration and innovation.
Joining the BESS Consortium, a multistakeholder partnership initiative of the Global Leadership Council, commits members to participate in efforts to reach energy storage commitments of 5 GW through the end of 2024.
This will in turn provide a roadmap to ultimately achieving 400 GW of renewable energy by 2030.
Burkina Faso, Egypt, Ghana, Kenya, Malawi, Mauritania, Mozambique, Nigeria, and Togo. have formally expressed interest to join the Consortium.
These countries are expected to receive support from BESS Consortium resource partners that include the African Development Bank, the World Bank, the Asian Development Bank, the Inter-American Development Bank, the Agence Française de Développement (AFD), Africa50 and Masdar.
Resource partners will help prepare projects, improve the regulatory environment and unlock private and public investment.
In response to the announcement, Malawi’s President Dr. Lazarus Chakwera said, “Malawi is committed to maintaining a renewable energy generation pathway for a sustainable future – and it’s projects like the BESS Consortium that will make our low carbon pathway a reality.
We need more projects like that.”
Mauritania’s Minister of Petroleum, Mines and Energy, Nany Ould Chrougha expressed satisfaction over his country’s membership in the consortium.
He believes that the need for battery storage is paramount for the country, which already records 40% reliance on renewable energy, and is set to become increasingly dependent, particularly, on solar and wind power.
African Development Bank President, Dr Akinwumi Adesina said, “The African Development Bank is proud to be at the forefront of this transformative journey, leveraging strategic partnerships and financial commitments to drive progress.
As we move forward, let us remain steadfast in our dedication to a cleaner, greener, and more prosperous Africa—one powered by the limitless potential of renewable energy and the resilience of the African spirit. Together, we can light up and power Africa for generations to come.”
Adesina also highlighted the synergies between the BESS consortium and the Bank’s flagship Desert to Power initiative.
Dr Rajiv J. Shah, President of the Rockefeller Foundation and Co-chair of the Global Leadership Council said, “Without sufficient storage capacity, countries will be unable to add renewable energy to their grids at the scale needed to reduce emissions and create economic opportunity.
The BESS Consortium is an example of the sort of big, bold action required to break down the barriers keeping so many people and communities from joining the climate transformations underway.”
Barbados, Belize and India have also joined the BESS Consortium.
The Prime Minister of Barbados, Mia Mottley said, “Barbados is committed to playing a leading role in urging concrete deliverables on climate and climate financing.
We are here with the BESS Consortium today because we support their efforts to improve access to battery energy storage systems as part of the energy transition in countries like ours.”
The Global Leadership Council is a high-level coalition of global leaders brought together by the Global Energy Alliance for People and Planet.
It includes leaders of multilateral development banks, development finance institutions, international agencies, NGOs, corporate executives, and government representatives.
Source: https://energynewsafrica.com
Ghana: CIE & CI-ENERGIES Of Côte d’Ivoire Sign Transmission Service Agreement With GRIDCo
The Ghana Grid Company (GRIDCo) together with its counterpart in Côte d’Ivoire, Compagnie Ivorienne d’Electricité (CIE) and Côte d’Ivoire Énergies (CI-Energies) have signed a Transmission Service Agreement, following an extensive negotiation process.
Since the construction of the Ghana-Cote d’Ivoire tie-line in 1983, Power has often been exported via the Prestea Substation in Ghana to Côte d’Ivoire.
When the tie-line was operationalised, the power exchange agreement signed between VRA and the Ivorian counterparts had a tariff, which was a composite of both the generation and transmission charges for energy supplied.
However, since the creation of GRIDCo through the separation of the transmission department of VRA (following the implementation of Energy Sector Reforms in Ghana in the early 2000s), it became necessary to have a separate Transmission Service Agreement with the Ivorian counterpart.
Accordingly, following an elaborate negotiation process, the Chief Executive of GRIDCo, Ing. Ebenezer Kofi Essienyi was in Abidjan to sign the Transmission Service Agreement together with the CEOs of CIE and CI-Energies, which will be the framework that will govern the transmission of power on the Ghana-Cote d’Ivoire interconnection.
“GRIDCo remains committed to playing a leading role in the provision of quality and reliable power supply within the sub-region,” a statement from GRIDCo said.
Source: https://energynewsafrica.com
Ghana: Parliamentary Select Committee On Mines And Energy Lauds NPA For Effective Operations
The Parliamentary Select Committee on Mines and Energy in Ghana’s Parliament has commended the downstream petroleum regulator, National Petroleum Authority (NPA) for effectively regulating the sector.
As part of their oversight mandate, the Committee recently visited the Head Office of the NPA to engage management on a range of issues, particularly regarding the Cylinder Recirculation Model (CRM) and technologies used in distributing petroleum products.
In his welcome remarks, NPA Chief Executive, Dr. Mustapha Abdul-Hamid expressed joy that the MPs had found time to come and see how the Authority works to ensure the effective operation of the petroleum downstream industry.
He welcomed the Committee’s interest to visit some industry installations and indicated that it would provide insight into the operations of the industry and guide their decision making as overseers to in turn give the NPA guidance to have a more efficient downstream.
Responding, Mr. Atta Akyea said the visit to the NPA was in line with the oversight responsibility of Parliament.
He said although the debate on the 2024 budget was ongoing in Parliament, members of the committee had found time to visit the NPA because of the importance they attach to the work of the Authority.
Dr. Abdul-Hamid and his deputies, Mr. Perry Okudzeto and Mrs. Linda Asante and the various Directors and Heads of Department held a meeting with the Committee during which some presentations were made followed by discussion of pertinent concerns.
The MPs were also taken through the operations in the National Electronic Cargo Tracking System Command Centre., which houses the Bulk Road Vehicle Tracking System and the National Retail Outlet Automation Architecture.
Members of the Committee were particularly thrilled with the use of modern technological tools, such as the Bulk Road Vehicle Tracking System (BRVTS), the national fuel marking system, and the Enterprise Relational Database Management System (ERDMS) to curb third-party transactions, diversions, tampering and improve revenue generation.
The Committee also expressed satisfaction with the measures and strategies put in place to ensure the smooth implementation of the CRM.
The second part of the programme was a visit to some LPG Storage and Bottling Plant Facilities in Tema.
The NPA team led by the CE and the MPs visited the Quantum Terminals Group’s LPG Storage Facility and the New Gas Bottling Company Plant in Tema.
The Committee was informed that the $16 million Bottling Plant currently has two units; one with the capacity to fill 1,800 pieces of 6kg and 12.5kg cylinders per hour, while the other unit can fill up to 1,400 pieces of 3kg cylinders per hour respectively.
The company informed the Committee of its readiness to serve Ghanaians with LPG at their doorstep.
Members of the Committee were quite impressed with the facilities and assured their support for such investments to improve Ghana’s petroleum downstream sector.
Source: https://energynewsafrica.com
COP28: World Leaders Commit To A Global Renewable Energy Target
World leaders at the COP 28 currently underway in Dubai UAE, have agreed to triple renewable energy capacity by 2030, aligning with the International Renewable Energy Agency’s (IRENA) World Energy Transitions Outlook on how to close the energy transition gap to stay on a 1.5°C Pathway.
WETO underscores that tripling renewable energy and doubling energy efficiency by 2030 is the most realistic course-correction to align with Paris Agreement goals.
It particularly calls for a tripling of installed renewable capacity from around 3,400 GW today to over 11,000 GW by 2030, adding on average an ambitious 1,000 GW annually till the end of this century.
Commenting on the pledge, IRENA Director-General Francesco La Camera said: “I welcome today’s landmark commitment to triple renewable capacity by 2030.
This decision unequivocally confirms the central role renewables play in addressing climate urgency.
As the most accessible and cost-effective solution, renewables stand at the forefront of climate action, offering a path to enhance energy access, security and affordability.”
He added: “Now, commitments must translate into concrete actions considering varied national circumstances.
The forthcoming round of Nationally Determined Contributions in 2025 represent a prime opportunity to make a transformative leap forward.
As the custodian of today’s pledge, IRENA supports countries in advancing their energy transitions to ensure progress is made every year towards 2030.”
2022 saw the largest-ever annual increase in renewables with 40% of installed power being generated by renewables globally.
But the scale and extent of renewable deployment in different sectors and across regions are uneven and fall short of what is needed for the 1.5°C pathway.
Deeply entrenched barriers across infrastructure, policy and institutional capacities, remnants of the fossil-fuel era, must be overcome to scale and speed up the deployment of renewables.
And a reform of the global financial architecture should recognise the role of multilateral financial institutions in prioritising the infrastructure needed for a new energy system run on renewables.
As outlined in a recent report from the COP28 Presidency, IRENA and the Global Renewables Alliance, achieving the global pledge requires stronger policy actions, investment and global collaboration, reiterating the criticality of the next seven years for bringing the world back on track towards the 1.5°C Pathway and realizing the Sustainable Development Goals.
IRENA will continue to review progress and gaps towards the global energy targets on an annual basis to support the tracking of the COP28 commitment and maintain momentum to 2030.
comea Key Commitment at COP28
IRENA Call to Triple Renewables by 2030 Becomes a Key Commitment at COP28
Source: https://energynewsafrica.com
Ghana: Power Outages Loom As Sunon Asogli Threatens Indefinite Shutdown Of 560MW Plant Over US$800M Debt
Ghana’s largest independent power generation company, Sunon Asogli Power Ghana has threatened to shut down its 560 MW power plants situated in Kpone near Tema over failure by the Electricity Company of Ghana to settle 800million dollars owed them for power supplied.
The power producer in a letter intercepted by energynewsafrica.com planned to shut down the plant 6pm today Monday, December 4, 2023.
However, assurance from Ghana’s Minister for Finance Ken Ofori to make part payment of $90million this week and next week has forced the power producer to suspend the planned shut down of the power plant.
The company, in a letter addressed to ECG and sighted by energynewsafrica.com, said it has suspended the indefinite shut down of its plant “in view of the intervention and assurance of the Minister of Finance and Minister of State.”
“Kindly confirm our understanding that we shall be paid an interim sum of $60 million in two tranches. The first tranche $30 million to be paid this week and the second tranche in the week of 11th December 2023,” stated, the letter by Qun Yang, Chairman of Sunon Asogli Power Ghana Limited.
The company complained that the accumulating unpaid bills have significantly impacted its operational capacity, making it unsustainable to continue without addressing these financial challenges.
“The accumulating unpaid bills have significantly impacted our operation capacity, making it unsustainable and practically impossible to continue without addressing these financial challenges,” a source close to the company told this portal.
For some time now, independent power generation companies in the West African nation have been lamenting over mounting debts owed them by the southern power distribution company, Electricity Company of Ghana (ECG).
The IPPs, who generate more than 50 percent of Ghana’s generation capacity, are owed over US$2billion.
Ghana’s generation capacity currently stands at 5386MW with peak demand hovering around 3,561 as at May this year.
SHUTDOWN SUSPENSION 04122023
Source: https://energynewsafrica.com