- In May 2023, the Africa Finance Corporation and Japan Bank for International Cooperation (JBIC), signed a Memorandum of Understanding to collaborate on infrastructure projects that accelerate energy transition in Africa.
- In January 2023, Team Europe (the European Union and its member states) launched the Just and Green Recovery Team Europe Initiative for South Africa, as part of its Global Gateway programme. The initiative includes funding of more than EUR 280 million in the form of grants, which will be directed towards supporting policy reforms on green recovery, unlocking green investments and building a knowledge-based transition in South Africa.
- In 2022, the G7 countries announced that a USD 600 billion lending initiative, the Partnership for Global Infrastructure Initiative (PGII) would be launched to fund sustainable infrastructure projects in developing countries, with a particular focus on Africa.
- Also in 2022, the US announced it was mobilising USD 200 billion for developing countries over the next five years as part of the PGII. This funding will be in the form of grants, financing and private sector investments. One of the priority pillars of this funding will be “tackling the climate crisis and bolstering global energy security”. Some deals have already been announced, including a USD 2 billion solar energy project in Angola.
- Power Africa, a US government-led programme that focuses on addressing Africa’s access to electrical power, has also provided significant support for energy transition. In its 2022 Annual Report, Power Africa noted that one of its achievements had been to successfully deliver first-time and improved electricity access to 37.7 million people in Africa through 7.6 million new on- and off-grid connections to homes and businesses in 2022.
- In February 2022, the European Commission announced investment funding for Africa worth EUR 150 billion. The funding package is part of the EU Global Gateway Investment Scheme and is said to be in the form of EU combined member funds, member state investments and capital from investment banks. In 2020, the European Commission published its Comprehensive Strategy with Africa, outlining the region’s plans for its new, stronger relationship with the continent. Some of the key focal points in this strategy were assisting the continent with green transition and improving access to clean energy.
- China and Africa have also recently agreed to work together on improving Africa’s capacity for green, low-carbon and sustainable development. At the 2021 Forum on China-Africa Cooperation, green development was one of nine programmes identified as part of the China-Africa Cooperation Vision 2035.
- The UAE has also moved to establish mutually beneficial initiatives in the energy sector in Africa. As the fourth largest investor on the continent, the UAE has made significant investments across Africa in energy and infrastructure projects, which benefit the continent but also assist the UAE to advance its own development agenda. Furthermore, the UAE’s expertise in oil and gas can has also assisted African countries to advance their own gas to power agendas. For example, there have been recent investments in LNG projects in Mozambique, Nigeria, Senegal and Mauritania. The commitment to developing ongoing, sustainable trade is also demonstrated by recent diplomatic and policy-driven decisions. The UAE and Kenya recently issued a joint statement announcing their intention to negotiate a comprehensive economic partnership agreement (CEPA), which will increase non-oil bilateral trade between the UAE and Kenya, which rose to USD 2.3 billion last year.
- Many new cross-regional energy transition initiatives have recently been announced. The Africa Carbon Markets Initiative (ACMI) was launched at COP 27 with the goal of substantially expanding Africa’s participation in voluntary carbon markets. The ACMI is aiming for the production of 300 million credits annually in Africa by 2030 and 1.5 billion credits annually by 2050. It noted these targets would provide much needed financing for energy transition in Africa. Many African countries, including Gabon, Kenya, Malawi, Nigeria and Togo supported the initiative.
- Egypt launched, under the leadership of its COP27 presidency, the Africa Just and Affordable Energy Transition Initiative, which will identify local strategies and energy mixes needed to steer African countries away from reliance on fossil fuels. The implementation of clean energy transition cannot be the same globally. The initiative aims to meet the universal access by 2030 and energy demands of Agenda 2063 for the African continent and, among other means, includes consolidating and facilitating technical and policy support. It was also recently announced that Egypt is set to achieve its goal of supplying 42 % of the country’s energy requirements through renewable energy by 2035.
- At COP 26 in November 2021, the EU and the governments of France, Germany, the UK and the US pledged USD 8.5 billion in first round financing to assist South Africa with energy transition projects as part of the Just Energy Transition Partnership (JETP). During COP 27, President Cyril Ramaphosa launched the new Just Energy Transition Investment Plan, which outlined the investments required to achieve the South Africa’s decarbonization commitments, while promoting sustainable development, and ensuring a just transition. The plan identifies USD 98 billion in financial requirements over the next five years, from both the public and private sectors. Discussions are also underway to establish a similar partnership in Sénégal.
- Nigeria’s Environment Minister Mohammed Abdullahi said at COP 27 that Nigeria wanted the support of a JETP with the G7. He said that the country needed significant resources to implement its energy transition, noting a USD 10 billion per year financing requirement to meet its 2060 net zero target.
- Kenya’s President William Ruto announced recently that Kenya had signed a framework agreement to produce an initial target of 300 MW of green hydrogen in the country.
- Tanzanian President Samia Suluhu Hassan presented a USD 18 billion energy transition proposal covering 12 southern African countries that are connected via the Southern African Power Pool. The proposal is to increase renewable energy generation (solar and wind) by around 8.4 GW. The 12 countries are Angola, Botswana, Democratic Republic of the Congo, Eswatini, Lesotho, Mozambique, Malawi, Namibia, South Africa, Tanzania, Zambia, and Zimbabwe.
- Multilateral and development finance institutions (DFIs) have been important allies in developing and mobilizing funding in Africa’s renewable energy sector. They have provided funding for projects, but they have also structured successful programmes to address potential risks. For example, the Sustainable Energy Fund for Africa (SEFA), a multi-donor Special Fund managed by the African Development Bank, provides catalytic finance to unlock private sector investment in renewable energy and energy efficiency.
Boosting Africa’s Energy Transition – Initiatives, Funding And Investment (Article)
By: Kieran Whyte & Co
Forty-three per cent of Africa’s population does not have access to electricity, mostly in sub-Saharan Africa, according to a recent report by the International Energy Agency.
Increasing access to a clean, decarbonized, decentralised energy supply is therefore critical for the continent.
The growing focus on energy transition can benefit Africa in numerous ways, including that the continent is already in the process of harnessing its vast supply of renewable energy to generate power, and is also gearing up to increase trade in its large store of critical minerals, needed for the global energy transition.
To enable this transition, countries across Africa are implementing policy that takes into account the energy crisis and the need for a renewable energy supply that addresses climate change and the commitments made under the Paris Agreement. In addition, many countries in Africa, and other jurisdictions, are launching initiatives and providing funding, investments and grants for African renewable energy projects.
Funding And Grants
Countries in Africa and around the world have all recently reaffirmed their commitment to impact-building and strategic, long-term projects that benefit energy transition and promote economic stability in Africa.
For example:
Nigeria: Buhari Deliberately Delayed Fuel Subsidy Removal To Allow Tinubu, APC To Win Election-Garba Shehu
Nigeria’s immediate past President Muhammadu Buhari says his administration deliberately delayed the implementation of the policy seeking to remove fuel subsidies to ensure that All Progressives Congress (APC), led by Bola Ahmed Tinubu, won the last general polls.
According to him, if he had removed the fuel subsidy ahead of the general elections, his party and Bola Ahmed Tinubu would have been defeated during the polls.
“We must be politically honest with ourselves. The Buhari administration, in its last days, could not have gone the whole way because the APC had an election to win. And that would have been the case with any political party that was seeking election for another term with a new principal at its head.
“Poll after polls showed that the party would have been thrown out of office if the decision as envisaged by the new Petroleum Industry Act was made,’’ said Garba Shehu, Buhari’s erstwhile spokesman in a statement in response to concerns by some Nigerians that it has taken Tinubu, who is in office for few days to implement removal of fuel subsidies.
“The decision to remove subsidies, as in our case—and we believe in all situations—was not for the President to take all by himself.
“That’s why it’s important to remind ourselves and all those who have conveniently forgotten that the Buhari administration had been on this pathway from the very beginning in 2015.
“Removing subsidies for the Naira and PMS was cued and put on hold. Look at, for example, the Petroleum Industry Act…the important decision was kept for a better time.
“It could not have come at a time when tensions were high in the country and no responsible leader would have added fuel to the fire.
“In the view of many Including those in the security circles, only a new administration with goodwill that fills a warehouse can attempt this, and here now comes in the wit and grit of the Tinubu government,’’ Garba Shehu stated.
Source: https://energynewsafrica.com
UK Could Be Starved Of Energy, Says North Sea Boss
The UK is at risk of being “starved” of North Sea energy leaving it reliant on imports, a major oil and gas producer has told the BBC.
Ithaca Energy said Labour’s pledge to ban new oil and gas exploration in the North Sea and current taxation policy was “spooking” investors.
Ithaca is almost entirely invested in North Sea oil and gas.
Environmental groups say any new oil and gas fields in the region would take the UK over its carbon budget limits.
Last week, Labour leader Sir Keir Starmer said a Labour government would not grant licences to explore new fields in the North Sea, saying it would be an “historic mistake” to wait until UK oil and gas runs out.
But Gilad Myerson, executive chairman of Ithaca, said the move would threaten the UK’s energy security.
“By a new government imagining they’ll be able to stop licences and oil development in the UK, ultimately what that means is that they’ll be starving the UK of energy, and it will become very dependent on energy from abroad,” he said.
North Sea oil and gas is traded on international markets and the prices are set globally, but Mr. Myerson insists much of it is used domestically, and it therefore has a lower carbon footprint than energy imported from abroad.
“Most of the hydrocarbons in the UK are developed and are produced for the UK market. Some of the oil will go to refineries abroad, but will ultimately make its way back to the UK,” he said.
A Labour spokesperson said that while the party would not issue any new licences, it would “continue to use existing fields in the North Sea for decades to come”.
“The best way to bring down bills, increase our security and sovereignty, and create good jobs is to get on with a sprint for clean energy and we welcome all businesses being part of that.”
Ithaca, which has stakes in six of the 10 largest oil and gas fields in the North Sea, is also worried about the current government’s approach to taxation.
Last May, the government introduced a windfall tax on energy company profits, known as the Energy Profits Levy. It was set at 25%, but was later increased to 35% in the Autumn Statement, taking the overall tax rate on companies in the sector to 75%.
Earlier this month, the Treasury announced the windfall tax would stay in place until 2028 but would be scrapped if oil and gas prices fell closer to historical levels for a sustained period.
But Mr Myerson said the chances of oil and gas prices falling sufficiently to trigger the elimination of the tax were “extremely low” as supply and demand had changed after the Russian invasion of Ukraine.
Source: BBC
Ghana: Petroleum Tanker Drivers Declare Sit Down Over Bad Roads Linking Fuel Depots
Petroleum tanker drivers in the Republic of Ghana, on Monday, declared a sit-down strike to protest the deplorable state of roads that link fuel depots in Tema, Kumasi, Takoradi and Buipe.
The tanker drivers, under the aegis of the Ghana National Petroleum Tanker Drivers’ Union, said they would not move their trucks to any of the depots to load fuel until Ghanaian authorities fix the bad state of their roads.
National Chairman of the Union, George Teye Nyaunu, who led the drivers and a section of Ghanaian journalists to inspect the poor state of the road from the Tema Oil Refinery to Kpone-Katamanso township, said they are pained that the government has abandoned the area which has been contributing huge revenue to the state and rather fixing roads in areas where the country does not generate much revenue.
He told the journalists that President Akufo-Addo instructed the Roads and Highways Minister to ensure that the road was fixed as far back as 2017, but said the Minister has failed to live up to the expectation.
He recalled that a sod was cut before the 2020 general elections but said immediately after the elections, the road was abandoned.
“If, indeed, the Roads and Highways Minister is serious or is concerned about petroleum products or concerned about Ghanaians, this road should have been a burden to him.
“I have nothing against the President because, from 2017, he instructed the Roads Minister to do this road. So, I can see a bad nut. The Minister is a bad nut,” Mr Nyaunu said.
The road was virtually empty when a section of the journalists visited the TOR-Kpone stretch of the road where several petroleum depots are dotted around.
On a working day like Monday, the road would have been very busy, but all the depots closed their gates, thereby, making the road virtually empty except for taxis that managed to ply the torn road to Kpone.
Sections of the road had developed deep holes and collected rainwater, making it difficult for tankers to ply the road.
Source: https://energynewsafrica.com
He recalled that a sod was cut before the 2020 general elections but said immediately after the elections, the road was abandoned.
“If, indeed, the Roads and Highways Minister is serious or is concerned about petroleum products or concerned about Ghanaians, this road should have been a burden to him.
“I have nothing against the President because, from 2017, he instructed the Roads Minister to do this road. So, I can see a bad nut. The Minister is a bad nut,” Mr Nyaunu said.
The road was virtually empty when a section of the journalists visited the TOR-Kpone stretch of the road where several petroleum depots are dotted around.
On a working day like Monday, the road would have been very busy, but all the depots closed their gates, thereby, making the road virtually empty except for taxis that managed to ply the torn road to Kpone.
Sections of the road had developed deep holes and collected rainwater, making it difficult for tankers to ply the road.
Source: https://energynewsafrica.com Kenya: Africa Must Develop Its Geothermal Energy Resources—KenGen Chairman
Africa has been urged to take full advantage of the geothermal energy resources in the continent to fast-track the continent’s energy requirements.
The Chairman of Kenya Electricity Generation Company (KenGen), Julius Migos Ogamba, made the call at the just ended 25th Africa Energy Forum in Nairobi, Kenya.
He noted that energy efficiency, cost-effectiveness in the sector and cleanliness of geothermal energy offer Africa the unique opportunity to embrace this renewable energy to save the continent from her fast-degrading environment.
The conference, which is hosting 4,000 delegates across Africa and other parts of the world, creates the environment for participants to share their views on how to foster swift, prudent, practical and innovative suggestions in the continent’s desire to access cheap, reliable and sustainable energy for its people.
“For Kenya, this forum will provide us the opportunity to engage like-minded participants in clean energy generation, sustainable financing and innovative strategies to be employed in the sector for enhanced delivery,” Julius Migos Ogamba observed.
According to him, the platform also gives them the chance to strike investment partnerships in the sector to drive the area in Kenya particularly and Africa in general.
Concerning best governance cultural practices, the KenGen Chairman stressed that they adhere to the latest virtues in the industry and hopes to even deepen such practices to ensure that Africa’s future energy generations do not suffer from any negative environmental norms.
Africa has a huge geothermal potential, particularly in the Rift Valley, which extends from the Horn of Africa to Malawi.
The geothermal potential capacity for eastern Africa is more than 20 Gigawatts.
High geothermal power potential is located in eastern African countries such as Eritrea, Ethiopia, Kenya, Uganda and Zambia. The potential for geothermal energy in East Rift System countries is estimated at over 15,000megawatts.
Kenya’s Cabinet Secretary for Energy and Petroleum, Davis Chirchir said they have been able to provide over 76 per cent of the people in the East African nation with electricity and hope to increase it further by the end of this year.
He emphasised that Kenya has vast land resources and that getting access to geothermal was easy, assuring all that reliance on traditional sources of fuel and its negative impact on the environment could be further reduced if they keep to geothermal and other renewable sources of energy.
Honourable Chirchir also urged participants to share their experiences and ideas to help Africa to deal with Africa’s environmental degradation, help to make energy cheap and also leverage their resources to take solutions for energy problems facing the continent.
Source: https://energynewsafrica.com
The conference, which is hosting 4,000 delegates across Africa and other parts of the world, creates the environment for participants to share their views on how to foster swift, prudent, practical and innovative suggestions in the continent’s desire to access cheap, reliable and sustainable energy for its people.
“For Kenya, this forum will provide us the opportunity to engage like-minded participants in clean energy generation, sustainable financing and innovative strategies to be employed in the sector for enhanced delivery,” Julius Migos Ogamba observed.
According to him, the platform also gives them the chance to strike investment partnerships in the sector to drive the area in Kenya particularly and Africa in general.
Concerning best governance cultural practices, the KenGen Chairman stressed that they adhere to the latest virtues in the industry and hopes to even deepen such practices to ensure that Africa’s future energy generations do not suffer from any negative environmental norms.
Africa has a huge geothermal potential, particularly in the Rift Valley, which extends from the Horn of Africa to Malawi.
The geothermal potential capacity for eastern Africa is more than 20 Gigawatts.
High geothermal power potential is located in eastern African countries such as Eritrea, Ethiopia, Kenya, Uganda and Zambia. The potential for geothermal energy in East Rift System countries is estimated at over 15,000megawatts.
Kenya’s Cabinet Secretary for Energy and Petroleum, Davis Chirchir said they have been able to provide over 76 per cent of the people in the East African nation with electricity and hope to increase it further by the end of this year.
He emphasised that Kenya has vast land resources and that getting access to geothermal was easy, assuring all that reliance on traditional sources of fuel and its negative impact on the environment could be further reduced if they keep to geothermal and other renewable sources of energy.
Honourable Chirchir also urged participants to share their experiences and ideas to help Africa to deal with Africa’s environmental degradation, help to make energy cheap and also leverage their resources to take solutions for energy problems facing the continent.
Source: https://energynewsafrica.com Ghana: Independent Power Producers Serve Final Shutdown Notice To Government
Independent Power Generators, Ghana, formerly Chamber of Independent Power Producers, Bulk Distributors and Consumers (CiPDiB), have reminded the government to honour their request by paying 30 per cent of the US$1.6 billion outstanding arrears to avoid a total shutdown of their power plants from July 1, 2023.
The group warned that failure on the part of the government to settle the said amount will not guarantee continued power supply to the national grid.
The group communicated this in a letter to the Minister for Finance on Thursday, stating that they are now unable to persuade their creditors, contractors and other essential stakeholders to further withhold payment and maintain operations.
“We had indicated in our letters that IPPs needed to receive an interim payment of 30% of the outstanding arrears of each IPP by 20th June 2023. Unfortunately, we have not seen any good faith indication or commitment of such impending payment from ECG/Government as of today, June 21, 2023, despite the Electricity Company of Ghana’s recent collection efforts, as reported in the media, which yielded circa ¢3.1 billion,” the group said in a letter sighted by energynewsafrica.com.
The group, which controls more than 50 per cent of the power generation in West Africa, urged the government to resolve its debt to them as soon as possible.
According to them, the Electricity Company of Ghana (ECG) owed them around $1.4 billion as of May. Because of the debt, the IPPs lacked working cash to finance inputs such as chemicals for cleaning water for the thermal generators and other supplies, many of which were priced in foreign currency, primarily the US dollar.
They claimed they owed banks, and some had to make repayments this month but had to pay a penalty for defaulting, stating that they have been suffering in silence due to rising debts.
“We refer to our letters dated March 27, 2023, and May 25, 2023, with reference numbers IPGG/1/2023 and IPGG/2/2023 addressed to the Minister [Finance] by which the IPP Chamber stressed the urgent necessity for the government to prioritise payment of the outstanding arrears owed to members of the IPP Chamber to enable the IPPs to cover critical operational costs required to continue operations and pay overdue debt service,” the letter to the Finance Minister added.
It further urged the government, the Electricity Company of Ghana and other stakeholders to regard this reminder with the seriousness it deserves and to take the necessary actions.
Source: https://energynewsafrica.com
Kenya: Volta River Authority Participates In 25th Africa Energy Forum
The Volta River Authority (VRA), the state power generation company in the Republic of Ghana, registered its presence at the just-ended 25th Africa Energy Forum hosted in Nairobi, Kenya, East Africa.
The Forum, which started on Tuesday, June 20, successfully ended on Friday, June 23, 2023.
The Authority shone at the event when its former CEO, Kweku Awotwi, was given a lifetime award for his contributions to Africa’s energy sector alongside Mr Andrews Herscowitz, former Coordinator of the US Power Africa Programme.
Mr Emmanuel Antwi-Darkwa, Chief Executive Officer of the Authority, led a four-member delegation including Chief Musa Badimsugru Adam, a board member, to represent the Authority.
This year’s Africa Energy Forum, which was hosted in Kenya for the first time in Africa, attracted more than 4,000 delegates from Africa and other parts of the world.
The Forum brought together government officials, utilities, regulators, development finance institutions, commercial banks, power developers, technology providers, engineering, procurement, construction companies (EPCs) and professional services.
During the forum, Mr Emmanuel Antwi-Darkwa held meetings with officials of Synergy Consulting, an independent international Financial Advisory Services Company, and Elecnor, the contractor who executed the Solar PV farm in Kaleo and Lawra, Ghana.
Mr Antwi-Darkwa also met with officials of Kenya Electricity and Generation Company (KenGen) to discuss future partnerships.
Source: https://energynewsafrica.com
This year’s Africa Energy Forum, which was hosted in Kenya for the first time in Africa, attracted more than 4,000 delegates from Africa and other parts of the world.
The Forum brought together government officials, utilities, regulators, development finance institutions, commercial banks, power developers, technology providers, engineering, procurement, construction companies (EPCs) and professional services.
During the forum, Mr Emmanuel Antwi-Darkwa held meetings with officials of Synergy Consulting, an independent international Financial Advisory Services Company, and Elecnor, the contractor who executed the Solar PV farm in Kaleo and Lawra, Ghana.
Mr Antwi-Darkwa also met with officials of Kenya Electricity and Generation Company (KenGen) to discuss future partnerships.
Source: https://energynewsafrica.com Ghana: Star Oil Sympathizes With Family Of Police Officer Shot By Armed Robbers
Star Oil, one of the oil marketing companies in the Republic of Ghana has expressed its sympathies to the family of the deceased police officer who was killed in a bullion van at one of its branches at Ablekuma Fanmilk, a suburb of Accra, capital of Ghana on Thursday, June 22.
Armed robbers attacked the van a few minutes after it arrived for cash collection at the station.
Videos of the incident show members of the public rescuing the fatally shot policeman from a pick-up truck.
The police officer was only identified as Amoah according to his name tag.
A statement issued by Star Oil said, “We wish to express our sincere sympathies to the family of the deceased police officer and the Ghana Police Service”.
It assured to provide further details on the incident to the police.
“We will provide further details on this incident after subsequent consultations with the Ghana Police,” Star Oil promised in its statement.
The police service says it’s on a manhunt for the robbers.
Source: https://energynewsafrica.com
Kenya: Electricity Supply In Kenya Is Far Better Than South African-Kenya Power CEO
Kenya Power, the electricity supply company in Kenya has asked Kenyans to be patient despite the increasing cost of power, stating that the country was better off than other African countries.
The Chief Executive Officer of Kenya Power, Engineer Joseph Siror, who was addressing journalists on Thursday, June 22, cited South Africa as one of the countries grappling with electricity challenges forcing its government to ration power.
Kenya Power, he underlined, was better placed to distribute electricity owing to the structural reforms undertaken at the institution.
He intimated that the company was also working towards reducing the high cost of power.
“Some countries have not handled it well, like South Africa. If you knew the kind of rationing (they are subjected to), you would appreciate where we are as a country.
“We are at a much better point when you compare us to South Africa in terms of electricity and service provision,” he added.
Siror stated that the high cost of power resulted from increased government investment in the company necessitating the recovery of the funds spent.
During the recovery period, the company was forced to increase the cost of power as one of the alternatives to generating more income and clearing its debts.
“Over the past few years, the government has ambitiously invested in the electricity centre, and the initial investment has to be recovered.
“And during this period some of those investments are still recovering. But as we go forward, most of these will have been recovered and the cost of power will also go down,” explained Siror.
At the same time, he stated that some of the projects were yet to be completed, further delaying Kenya Power’s plan to reduce power prices.
Nonetheless, Kenya Power rolled out several measures to reduce power prices.
One of the key strategies was increasing power demand, especially for higher consumers like businesses.
“The key areas I am looking at are increasing the power demand. When you look at the power demand curve within 24 hours, there are times when it is higher.
“Our work is to engage the power consumers and the SMEs to see if we can work together towards them getting more power,” he added.
The second strategy Siror noted would help reduce the cost of power was increasing operational efficiency by establishing smart grids across the country.
“We are looking at ways to increase our operations, and the aspect of the smart grid plays a very key role. That is why we are looking at solutions and initiatives that can assist us to address that,” added Siror.
Kenya Power launched the Smart Poles on June 8 to support high-speed internet connectivity, eliminate the challenges of losing signals, and ensure wider and more efficient data coverage.
Source: https://energynewsafrica.com
Nigeria: Group Opposes Hike In Electricity Tariff Amidst Fuel Subsidy Removal
A consumer rights group in the Federal Republic of Nigeria, Utilities Consumers’ Rights Advocacy Initiative, has kicked against the proposed electricity tariff hike scheduled to commence on July 1, this year, amidst the recent removal of fuel subsidies.
The group argued that the hike in electricity tariffs was not a welcome development at a time when Nigerians were still battling with the removal of the petrol subsidy and its attendant effects.
“Distribution companies should make meters available to their customers without further delay if they want them to work.
“National Electricity Regulatory Commission (NERC) should open the meter market to every qualified investor to create competition that will bring the price of the meter down and make them affordable to consumers,’’ Mr Shadrack Akinbodunse, Principal Partner for Utilities Consumers’ Rights Advocacy Initiative, said as carried by the local online portal ‘supreme magazine.news’.
“If meters are available and affordable, the Discos will gear up their readiness to accept energy from TCN and do the needful to their customers.
“But now, the reversal is the case, as consumers now pay for darkness,” he said.
Akinbodunse called on the Discos to shoulder their responsibilities to the end-users because every new installation up to transformer replacement was being done by communities without a return on their investments from the Discos.
“We have a situation where customers are being asked to purchase new meters for replacement of obsolete, faulty and burned ones, which is not good for business,” he concluded.
Source: https://energynewsafrica.com
Ghana: Springfield E&P, Afreximbank Sign US$750 Million Credit Facility
Ghanaian upstream oil and gas player, Springfield E&P, has signed a US$750 million facility with African Export-Import Bank (Afreximbank).
The credit facility is expected to enable the company to invest massively in its operations.
The deal was signed by officials of the company and the bank on Tuesday at the just-ended Afreximbank 30th Annual General Meetings which took place in Accra.
Afreximbank is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade.
George Owodo, Chief Finance Officer of Springfield and Oluranti Doherty, Director of Export Development of Afreximbank, signed on behalf of their organisations.
Mr. Kevin Okyere, Chief Executive Officer of Springfield, according to a report by Joy Business, said it was a great day for African companies in building an alliance with a great African financial institution like Afreximbank.
The facility, he said, would enable his company to add more value to its oil block and was very excited about the opportunity.
According to him, the facility would tremendously impact the development of the West Cape Three Points Block ‘2’, particularly the unitisation process of the Afina-Sankofa field which is yet to be concluded.
In October 2019, the Afina-1 well made two discoveries that included gas, critical and light oil at a water depth of 1030 metres drilled to a total depth of 4085 metres.
This more than doubled Springfield’s proven oil reserves to 1.5 billion barrels and added almost one trillion cubic feet of gas to the existing discoveries.
The current undiscovered potential of the Block is estimated at over three billion barrels of oil and gas in multiple leads and prospects within multiple proven reservoir units.
Springfield is the Operator and Majority Interest Holder of West Cape Three Points Block ‘2’ with the Ghana National Petroleum Company and its exploration subsidiary, EXPLORCO holding the remaining interest.
Source: https://energynewsafrica.com
Ivory Coast: AfDB To Boost Electricity And Transportation Infrastructure In East Africa In 2023-2027
The African Development Bank (AfDB) has committed to supporting East African countries to accelerate structural transformation, reinforce resilience, and create more decent jobs.
This ambition is encapsulated in the Bank’s East Africa Regional Integration Strategy Paper (EA RISP) 2023-2027.
The strategy paper, approved by the Bank’s Board of Directors on 08 May, sets out two priority areas to achieve its main objective, namely: (1) Improve regional infrastructure; and (2) Support regional value chains development and trade facilitation.
Under the first priority area, the Bank will invest in cross-border electricity interconnections to strengthen connectivity and increase cross-border trade in electricity. It will also support regional solar energy development through the Desert to Power initiative as well as hydroelectric and geothermal energy to harness the region’s endowments. Strengthening the capacity of the East African Power Pool and regional electricity infrastructure initiatives such as the Nile Equatorial Lakes Subsidiary Action Program and Energy in the Great Lakes countries will also be areas of focus.
Investment in the regional electricity trade should enable East African cross-border electricity interconnections to increase from 7 to 9, and for the regional power pool to become operational. It will also support cross-regional power pools interconnectors such as the one between Eastern and Southern Africa Power Pools.
The African Development Bank will also commit financial resources to multimodal transport systems for roads, railways, air transport and inland waterways while continuing to strengthen transport management institutions’ capacity and regional corridors. Particular emphasis will be placed on the main corridors and feeder roads that link production centres to major markets and promote intra- and inter-regional connectivity.
These initiatives will help reduce transit times along strategic corridors and enhance trade within the region and under the African Continental Free Trade Area (AfCFTA).
Under the second priority area, the Bank will support the development of regional value chains, particularly agro-industry, manufacturing (textiles and clothing) and mining. The Regional Integration Strategy Paper aims to contribute to an increase in manufacturing value added in the region from 9% in 2020 to 11% in 2027 as a result of support to upstream interventions.
To ensure lasting development results under these two priority areas, the Bank’s interventions will mainstream the following cross-cutting issues: gender equality, fragility, climate change, human and institutional capacity development, and private sector development. Regarding capacity development, the will provide, among others, technical assistance to national, regional and continental institutions responsible for promoting regional trade, implementing the African Continental Free Trade Area and developing regional public goods.
Under the RISP, three main outcomes are expected: (i) reduced border crossing times in the Central Corridor from one hour in 2022 to half an hour in 2027; (i) an improvement in the score on the Logistics Performance Index for cross-border trade from 53.8% in 2018 to 60% in 2027; and (iii) an increase in the proportion of goods and services traded under the provisions of the African Continental Free Trade Area from 0% of the region’s total trade in 2022 to 5% in 2027.
Source: https://energynewsafrica.com
Dubai: Trina Solar Awarded “2023 Top Performer” By PVEL, With Vertex N Reliability Highly Recognized
PV Evolution Labs (PVEL), the world-renowned third-party reliability testing laboratory, has published its 2023 PV Module Reliability Scorecard, and Trina Solar has once again been recognized as a Top Performer among global PV module manufacturers for the outstanding performance of its Vertex N modules, especially the Vertex N 605W module. It is the ninth year in a row that Trina Solar has won this accolade, a feat unparalleled by any other company.
Using rigorous parameters, PVEL publishes the PV Module Reliability Scorecard every year, providing abundant data and research to the industry that helps guide its development, a role appreciated by all stakeholders.
All Trina Solar’s testing modules, including p-type modules as well as n-type, performed exceptionally well in tests such as LID+LETID and mechanical stress sequence.
Trina Solar’s Vertex N 605W module, which combines i-TOPCon Advanced technology and 210mm technology, performed best in DH and PID tests. This module is highly compatible with trackers, offering optimum flexibility in utility-scale projects in the most complex of terrains and maximizing customer value with lower LCOE.
At the SNEC PV Power Expo in Shanghai in May, Kevin Gibson, managing director at PVEL, presented the Top Performer award to Trina Solar.
Kevin congratulated the company on the outstanding performance of its Vertex modules, especially the Vertex N 605W, and on its appearing on the Top Performer list for the ninth year in a row.
Trina Solar was recognized as a Top Performer in almost every category in which its modules were tested.
The accolade reflects not only the quality of its modules but also the trust that customers worldwide have in them.
Trina Solar has been recognized elsewhere for its excellent product performance, technological innovation and high bankability, given a 100% bankability rating for seven years in a row by BNEF, and has been rated AAA, the highest rating, in the Module Tech Bankability Ratings report by PV-Tech.
Dubai:Trina Solar Accelerates Net-Zero Practices To Help Build A Sustainable Planet
Trina Solar, a leading global PV and smart energy total solution provider inspired by the Kyoto Protocol since its inception, has been promoting sustainability through renewable energy for the past 25 years, while pursuing its mission to make solar energy accessible to all.
Trina Solar aims to use 100% renewable energy in global manufacturing and operations by 2030 in order to contribute to the Paris Agreement’s climate objectives.
The company has expanded its sustainability efforts by implementing a variety of net-zero practices, including: net-zero operations, a net-zero value chain, and net-zero products.
Net-Zero Operations To Uphold Its Green Commitment
Trina Solar has employed a variety of carbon neutrality measures in order to meet its 2030 objective. Included in the plan are improvements to energy efficiency, net-zero industrial parks and factories, waste reduction, reuse, and recycling (3Rs), use of renewable energy, digital management of energy and carbon emissions, and development and implementation of carbon reduction technology.
Trina Solar insists on incorporating environmental responsibility into every aspect of its operations.
The company has instituted a thorough and effective ISO14001 environmental management system at all of its global plants, taking into consideration the preservation of the local ecosystem and biodiversity from the time it selects sites for its manufacturing facilities. Through an array of environmental management systems and processes, the environmental impact of the organization’s products, activities, and services is effectively minimized.
In April 2023, Trina Solar’s Yiwu plant became the first in the PV industry to be officially certified as a Zero Carbon Factory.
In addition to reflecting the company’s carbon reduction practices in technology, products, equipment, and process management over the past quarter century, this demonstrates Trina Solar’s strong commitment to sustainable development.
Trina Solar’s green operations also involve the sustainable use of natural resources, the responsible emission and recycling of waste gas, wastewater, and solid waste, and the substantial reduction of electricity consumption, water consumption, and greenhouse gas (GHG) emissions.
Trina Solar’s GHG emissions per unit of production for cell and module products decreased by 50.81% and 61.88%, respectively, in 2022, compared with those in 2020, attaining or exceeding its carbon emission reduction objectives early.
20% Lower Carbon Footprint, A Net-Zero Value Chain Co-Created With Partners
Trina Solar not only implements its own sustainable development principles, but also endeavors to convey its vision and goals to its global associates. By incorporating sustainability into all procurement and research processes, the organization is committed to working with global partners to promote a net-zero value chain and establish a green ecosystem.
Together with its partners, Trina Solar has split the carbon footprints of its modules and developed low-carbon silicon materials. Trina Solar’s 150 micron and 130 micron wafers have a 20% lower carbon footprint than conventional wafers, thanks to the company’s technical efforts to reduce wafer thickness. As a result of its exceptional performance in the green supply chain field, Trina Solar was designated a “National Green Supply Chain Management Enterprise” by the Chinese Ministry of Industry and Information Technology (MIIT) in February 2023, when the 2022 Green Manufacturing List was released.
To become a globally competitive and innovative leader in value-added supply chain services, Trina Solar will continue to foster cross-sector collaboration and implement a green supply chain to drive the transformation and upgrading of upstream and downstream entities.
Contributing To A Sustainable Future Through Net-Zero Products
The path to carbon neutrality is guided by green technology. Trina Solar is creating a green, net-zero energy future with its customers via its superior technology platforms and innovative, ultra-high power products.
In 2022, Trina Solar’s Vertex modules were awarded a Life Cycle Assessment (LCA) Certificate by TÜV Rheinland for their low-carbon management capabilities throughout their entire life cycle. Later that same year, TÜV Rheinland again awarded the company’s Vertex modules with a Carbon Footprint Certificate in recognition of the products’ industry-leading performance in reducing carbon footprints.
Trina Solar is also one of the first companies in the industry to initiate the Environmental Product Declaration (EPD) and carbon footprint certification procedures for n-type modules.
From implementing net-zero operations to developing a net-zero value chain to manufacturing net-zero products, Trina Solar is committed to reducing carbon emissions for the benefit of society at every step of the way. Moving forward, Trina Solar will continue to work with all stakeholders to protect the biosphere, support global decarbonization initiatives, and make solar energy available to people everywhere.
Source: https://energynewsafrica.com