South Korea Pledges $5 Billion In Support For Battery Makers In The U.S
South Korea has announced a $5.32 billion financial support package aimed at helping the country’s battery makers invest in infrastructure in North America over the next five years.
The initiative is intended to help South Korean firms capitalize on the United States’ Inflation Reduction Act, which requires automakers to source 50% of critical EV battery resources from the U.S. or a U.S. free-trade partner to qualify for new federal incentives.
South Korea’s package will provide support through lowering lending rates, and insurance premiums cut by up to 20% and additional loans and tax credits for firms seeking to build battery and materials production facilities in North America.
The South Korean government will work on the initiative with the country’s biggest battery cell makers and materials firms.
The new U.S. legislation has sparked some concern among auto manufacturers, particularly given that China dominates the global supply of many key raw materials used to make EV batteries.
South Korea has been particularly affected, with two-thirds of its cathode, anode and electrolyte materials sourced from China. However, several automakers are already reacting to the new requirements with new investment plans.
In March, South Korean battery maker LG Energy Solution announced that it would invest $5.6 billion into a stalled U.S. battery project in Arizona to qualify for the new federal incentives.
South Korea’s LG Energy Solution Ltd, Samsung SDI Co Ltd and SK On together account for over a quarter of the global market of EV battery cell makers, with LG Energy Solution and Samsung SDI also among the top five.
As well as supplying Tesla, Volkswagen and General Motors, Korean companies have also been stepping up international expansion in recent months.
The South Korean government-backed battery alliance was launched last November to enable the country to better compete with China when sourcing essential resources to provide better stability for the battery supply chain.
South Korean Trade Minister Lee Chang-yang stressed, “Both the government and businessmen should cooperate to find solutions together to effectively cope with situations changing rapidly after the Inflation Reduction Act.”
While the recent U.S. policy addition has fueled some uncertainty during an already challenging time, the ongoing development of the electric vehicle industry is a strong driver of vitality and increased competition in the automotive sector.
Source: Oilprice.com
Ghana: Ghana Gas Completes Atuabo Gas Processing Plant Maintenance Works
The Ghana National Gas Company Limited has completed the planned maintenance works on its Atuabo Gas Processing Plant in the Western Region.
According to the company, “The entire maintenance activities ended in the late hours of Wednesday, April 5, 2023, ahead of the scheduled date of completion.”
A statement issued on April 7 and signed by the Head of Corporate Communications, Ernest Kofi Owusu-Bempah Bonsu indicated that the gas processing plant is currently at a flow rate of 90mmscfd.
It would be recalled that Ghana Gas, on March 25, shut down the Atuabo Gas Processing Plant for mandatory maintenance works.
The shutdown affected the gas supply to some power plants, thereby, resulting in a shortfall in generation by 150 Megawatts.
The Electricity Company Limited, as a result, released a load-shedding timetable from March 30 to April 7 between 6 pm and 11 pm.
Load shedding is expected to end now that the maintenance work has been completed.
Meanwhile, the Management of Ghana Gas has thanked the general public for their patience and cooperation during the maintenance period.
Source: https://energynewsafrica.com
Ghana: GOIL Dispatches Fuel To Stations Experiencing Shortages
Ghana’s leading indigenous Oil Marketing Company, GOIL Plc, has dispatched fuel products to its service stations that run out of products during the Easter festive season.
A statement issued by Public Relations Manager of GOIL Plc, Mr. Robert Kyere said the company took delivery of enough products yesterday and has taken adequate steps to dispatch them.
GOIL attributed the shortages to operational challenges during the Easter holidays.
“Over 2 million more will be dispatched today,” he said
According to GOIL, it intends to release more stocks to the affected stations in the next two days to augment supplies at the stations.
“GOIL apologizes for the inconveniences caused to our customers,” the statement concluded.
Source: https://energynewsafrica.com
Ghana: ECG Signs Power Purchase Agreement With Aksa Energy For 350MW Plant In Kumasi
Ghana’s southern power distribution company, ECG, has signed a power purchase agreement with Aksa Energy Compay Ghana, a Turkish power firm for the construction of 350 MW combined cycle gas turbine plant in Kumasi in the Ashanti Region.
Details of the project regarding cost and duration for construction are sketchy but this portal can confirm that the agreement was signed on Thursday April 6, 2023, at the Ministry of Energy.
In 2021, Government announced plans to relocate the Ameri power to Anwomaso in the Ashanti Region to stabilise power supply to Ashanti Region and northern part of Ghana.
In January 2022, Government of Ghana fully took charge of the power plant.
However, after almost a year of taking over the plant from the Ameri Group, the plant is still at its current location in the Aboadze enclave in the Western Region.
The Akufo-Addo administration has claimed that the country has excess capacity.
That means the West African nation does not require any additional power plant for now.
The signing of the new PPA will surprise industry players especially Civil Society Groups in the energy sector who have been critical about certain decisions in the power sector.
In a Facebook post on the new PPA by the Minister for Energy, Dr Matthew Opoku Prempeh sighted by energynewsafrica.com, he said “earlier this morning, the Electricity Company of Ghana (ECG) and AKSA Energy Company Limited (AECL) signed a power purchase agreement in furtherance of our quest for grid stability and reliability, especially in the middle belts of our country.
“In my remarks, I reminded the two parties of the essence of this morning’s exercise and thus, charged the ECG to ensure the full operationalization of the agreement in the interest of Ghanaians.
“The Ministry of Energy envisages an energy sector that will be robust enough to support our national economy and therefore we will continue on the path of these important partnerships which will result in the constant availability of power for industrial and residential consumption,” his post concluded.
Source: https://energynewsafrica.com
Zambia: ZESCO Signs 2400MW Power-purchase With CIEG Of China
Zambian electricity distribution company, ZESCO, has signed a Power-Purchase Agreement (PPA) with Integrated Clean Energy Power Company Ltd (CiEG) of China to produce 2,400 megawatts of renewable energy estimated at US$3.5 billion.
The power-purchase agreement will be rolled out in phases of 600MW and 800MW over three years in four provinces beginning this year, with 300MW in Southern Province and 300MW in Central Province.
The PPA comes at the back of the earlier investment of US$2.5 billion in 2,000MW (2Giga-watts) of energy by MASDAR from the United Arab Emirates.
This signifies the new dawn of the government’s strong resolve to achieve energy sufficiency for the domestic economy and energy surplus to enable increased exports as part of promoting export diversification and enhanced foreign currency earnings.
“This sizable Foreign Direct Investment (FDI) into Zambia from China is a testament to the reset and enhanced relations between the two countries for mutual benefit, which dates back to the two founding fathers—Chairman Mao and Dr Kenneth Kaunda,” Eng Peter Chibwe Kapala, Minister for Energy, said in a Facebook post aighted by this portal.
CiEG is an investment development and mergers and acquisitions of international projects arm for China Huadian Corporation.
China Huadian Corporation is a global energy company and a Chinese state-owned enterprise. It is the 3rd largest electricity power producer in the world and is listed on Fortune 500.
Source: https://energynewsafrica.com
India Plans To Add 250 GW Of Renewable Energy Capacity By 2028
India is looking to boost its renewable energy capacity by 250 gigawatts (GW) over the next five years as part of a plan to have 500 GW of installed clean energy capacity by 2030.
The Indian government will invite bids for installation of 50 GW of renewable capacity each financial year until the 2027/2028 financial year, the Ministry of New and Renewable Energy said in a statement carried by PTI.
The ministry said it was already working on upgrading and expanding the transmission grids to accommodate an expected surge in renewable power generation. German government forced to slow energy ‘green agenda’ rollout
As of the end of February 2023, India’s total renewable energy capacity was 169 GW, with 82 GW at various stages of implementation and about 41 GW under tendering stage. Solar, hydropower, and wind power have the highest shares of that capacity.
India’s coal-fired generators continue to provide around 70% of the country’s electricity. India is not ditching coal anytime soon—it will continue to rely on the dirtiest fossil fuel for decades, at least until 2040, Coal and Mines Minister Pralhad Joshi signaled at the end of last year.
In November, India’s Prime Minister Narendra Modi said at the G20 summit in Bali that “India is committed to clean energy and environment. By 2030, half of our electricity will be generated from renewable sources.”
“Time-bound and affordable finance and sustainable supply of technology to developing countries is essential for inclusive energy transition,” Modi added.
In the 2021/2022 financial year ended March 2022, investment in renewable energy in India hit a record $14.5 billion, up by 125% compared to FY 2020-21 and 72% higher than the pre-Covid FY 2019-20, the Institute for Energy Economics and Financial Analysis (IEEFA) said in a report last year.
But investment will have to more than double to $30-$40 billion annually for India to reach its renewable capacity target by 2030, IEEFA said.
In the 2021/2022 year, a total of 15.5 GW of renewable energy was installed in India, a rebound from the slump during 2020, the institute noted.
Source: Oilprice.com
Nigeria: Group Raises Alarm Over Deliberate Plan To Deny Local Meter Manufacturers From Winning Bid
PowerUp Nigeria, an advocacy group in the Republic of Nigeria, has questioned whether there is a deliberate attempt by the Federal Government to deny local meter manufacturers the opportunity to win bid for the supply of 1.2million meters via World Bank loan as advertised by TCN PMU.
Making reference to newspaper advertisement, Adetayo Adegbemle, Executive Director of PowerUp Nigeria, noted in a press statement that there are 5 Lots in what was advertised, stating that each of the 5 Lots are asked to raise / submit Bid Security in US Dollars.
He said, for instance, anyone applying for Lot 4 is to raise a Bid Security of $450,000.
According to him, local meter manufacturers are struggling to survive in the Nigerian economy, adding that even those who patronised for the NMMP are still being owed.
He, therefore, whether the huge amount of money in Bid security is intended to push local meter manufacturers out of business.
“It must be stated that We have had this kind of World Bank Loan with similar conditions before(2012) However, none of the Imported Meters procured under that scheme are presently still in the system.
“Again, this is a World Bank Loan, which we are definitely repaying. It is therefore imperative that we also use this to deepen our local manufacturers’ capacity.
The PowerUp Nigeria boss argued that the provisions in the advertisement is counter productive and demanded an immediate review to ensure that Bid Securities are reduced downward.
Source: https://energynewsafrica.com
Ghana: PURC Inaugurates Consumer Service Committee In Savannah Region
The Public Utilities Regulatory Commission (PURC) in the Republic of Ghana has inaugurated a Consumer Services Committee in Damongo, the Regional Capital of the Savannah Region.
This forms part of the Commission’s continued and deliberate efforts to bring its services closer to the doorsteps of the general public in areas where the Commission has no offices.
Inaugurating the Committee, Dr Ishmael Ackah, Executive Secretary of the PURC, said the move was in line with section 31 of the Public Utilities Regulatory Commission Act, 1997 (Act 538).
He further stated that the Committee, among other functions, was to make representations and consult with the regulated public utilities, on matters that affect consumers in their areas of jurisdiction to keep under constant review, issues affecting the interests of consumers; to educate customers on their rights, and responsibilities concerning utility services provision and the conservation of utility services; to advise the Commission on matters relating to utility services and to monitor the performance of utilities in the location of the Committee.
Source: https://energynewsafrica.com
Ghana:NPA Staff Supports Surgery Of Robbery Victim
The Staff of the National Petroleum Authority (NPA) has donated GHc60,000 towards the surgery of a lady who has been rendered incapacitated by some suspected robbers.
The amount was raised through welfare endowment fund and the contribution of executive management and officers of the Authority.
The victim, a former national service officer with the NPA, was said to have been injured by robbers who snatched her phone in Accra.
It was in an attempt to protect her phone that the robbers allegedly inflicted severe injury on her, rendering her bed ridden and speechless.
Receiving the cash donation, the family of the victim thanked workers of NPA for the donation.
They said the gesture would go a long way to support the surgery on the victim.
Source: https://energynewsafrica.com
Ghana: GOIL Plc Loses Chief Operating Officer
Ghana’s leading indigenous oil marketing company, GOIL Plc, has lost its Chief Operating Officer Alex Josiah Adzew, energynewsafrica.com can confirm.
Mr. Alex Josiah Adzew passed away in the United States of America (USA) where he was receiving treatment after falling ill.
Mr. Adzew was appointed the first Chief Operating Officer of GOIL Plc in October 2016.
Before his appointment, he was the Fuel Marketing Manager of the company.
A statement by Dr Marcus Deo Dake, Head of Corporate Affairs at GOIL Plc., which confirmed the passing on of Mr Adzew said: “It is with deep regret and sorrow that we announce the passing away of our Chief Operating Officer Mr. Alex Josiah whose death occurred on Monday 13th March 2023 after a short illness.”
The statement said a book of condolence has been opened at GOIL head office in Accra to allow industry players and friend to express their grief adding that details of the funeral would be announced later.
Profile Of The Late Adzew
Mr Josiah Adzew was a Mechanical Engineer by profession and had a wealth of work practice and experience in the petroleum industry, having joined Ghana Oil Company in 1992, initially as a Sales Engineer from the Tractor and Equipment (Division of Unilever) where he was the Inventory Control Manager.
Since joining GOIL, Mr Adzew served in various capacities as Sales Engineer in the Takoradi Zonal Office and Senior Sales Engineer/Special Assistant to the Area Manager for the Western Region.
He was later transferred to the Head Office as Lubricants Marketing Manager with additional responsibilities for LPG, Bunkering and Aviation Business.
Through hard work, he became the Head of the Department of Technical and Special Products with a special mandate to spearhead the entry of GOIL into the Aviation Industry as well as the Bunkering Business.
In January 2013, he was appointed the Fuels Marketing Manager of the Company.
Alex Josiah Adzew had a wealth of practical field experience under his belt, having attended various courses and seminars and undertaken business trips to support the company in the areas of Lubricants, Bunkering, Aviation, Marketing, Finance, Project Management and Retail Network development.
In March 2016, he participated in International Oil Trading Course at Princeton-Oxford in the U.K to get the company prepared to take its leadership role in the petroleum downstream sector following the deregulation of petroleum prices.
His interest in career excellence motivated him to participate in some local and international courses including Leadership Skills for Managers, Positioning Companies for Export Competitiveness, Health Safety and Environmental Training for Marketing Staff and Effective Credit Control as well as in Banking.
Mr Adzew had a First Class BSc (Hons) in Mechanical Engineering from the Kwame Nkrumah University of Science and Technology (1990); and an Executive Master of Business Administration (Money and Banking) from the Ghana Institute of Management and Public Administration (GIMPA).
Source: https://energynewsafrica.com
Ghana: Fuel Prices Drop Marginally
Oil Marketing Companies (OMCs) in the Republic of Ghana have adjusted their pump prices downward with some reducing petrol by 53 pesewas while diesel saw a 36 pesewas reduction.
Unlike other parts of Africa where fuel prices are reviewed monthly, in Ghana, fuel prices are reviewed every two weeks.
Given this, Oil Marketing Companies, on Monday, started reducing their pump prices.
A litre of petrol is now selling between GH¢11.25 and GH¢12.65 while diesel is sold between GH¢12.59 and GH¢12.84.
Leading Oil Marketing Companies like GOIL, Shell and TotalEnergies are all selling petrol at Gh¢12.65 per litre while diesel is sold at Gh¢12.84 per litre.
Petrosol, one of the best indigenous Oil Marketing Companies, is selling petrol at GH¢12.15 per litre while diesel is being sold at GH¢12.69 per litre.
Cash Oil is selling petrol is sold at GH¢12.59 per litre while diesel is sold at GH¢12.99 per litre.
Star Oil is selling petrol at GH¢11.69 per litre while diesel is sold at GH¢12.69 per litre.
Zen petroleum is selling petrol at GH¢11.49 per litre while diesel is sold at GH¢12.69.
Alinco oil is selling petrol at GH¢11.25 while diesel is being sold at GH¢12.70
Duke’s petroleum is selling petrol at GH¢11.92 per litre while diesel is sold at GH¢12.70 per litre.
Goodness sells petrol at GH¢11.25 per litre while diesel is sold at GH¢12.70 per litre.
Allied is selling petrol at GH¢11.26 per litre while diesel is sold at GH¢12.56 per litre.
Engen is selling petrol at GH¢12.25 per litre while diesel is sold at GH¢12.67 per litre.
Source: https://energynewsafrica.com
Ghana: ECG Disconnects 310 Customers In Tema
The Electricity Company of Ghana (ECG) in the Tema Region has disconnected three hundred and ten customers from the national grid for non-payment of electricity consumed.
The disconnections were done as part of the Company’s one-month nationwide revenue mobilisation programme which began on March 20, 2023, and is expected to end on April 20, 2023.
The 310 disconnected customers were part of a total of 2,344 customers who were visited within the first two weeks of the exercise.
The affected customers include individuals and small, medium and large-scale industries.
Revenue mobilisation is usually part of the ECG’s operations and is handled by the Revenue Protection Unit.
However, for this special exercise, the organisation rallied the management team and all back-end staff from the very top to the bottom, who do not usually deal with customers directly, to partake in this activity.
The members of the Board of Directors also joined in this exercise.
General Manager for ECG, Tema Region, Ing Ankomah Emmanuel, encouraged customers to “do well to pay up their bills to avoid debt and possible disconnection.”
He added that “we entreat customers not to make any payment whatsoever to any staff of the company on the field as that is not part of this exercise.”
All customers are to make all cash payments at ECG offices and to make cheque payments at the banks.
Alternatively, payments can be made through the phone short code *226#.
Ing Ankomah added that the exercise would continue while hoping that more customers would work towards clearing up their debts owed ECG.
Source: https://energynewsafrica.com
Ghana: Uganda’s UETCL Taps GRIDCo’s Fibre Optic Expertise
Uganda’s electricity transmission company officials have visited Ghana’s power transmission company, GRIDCo to hold three days of discussions on the Optic Fibre Business, of which GRIDCo has excellent expertise.
The delegation was led by Jjumba Abdu Karim.
The visit follows the signing of a Memorandum of Understanding (MoU) between Uganda Electricity Transmission Company Limited (UETCL) and GRIDCo about six months ago for collaboration.
The Acting Director at the Office of the Chief Executive of GRIDCo, Mr Sam Acquah, led the GRID Consult, Southern Network Department, to conduct interactive sessions on working models adopted by GRIDCo commercialization of fibre.
Commenting on the visit, Jjumba Abdu Karim said, “We will start a fresh page of a profitable and economically viable fibre business. We will also adopt a good fibre business strategy; a fibre business roadmap and restructure the ICT organogram accordingly. Additionally, the team will correct the errors made to avoid losses and litigation issues.”
Mr Karim added that the next steps are to revamp UETCL’s Fibre Business model to incorporate the lessons learnt in GRIDCo benchmarking.
The UETCL, after its commencement in 2001, held a Public Infrastructure Provider’s Licence from the Uganda Communications Commission for owning and operating their optic fibre infrastructure with the primary purpose to support the Supervising Control and Data Acquisition (SCADA) system in ensuring grid availability and reliability in Uganda.
Source: https://energynewsafrica.com