Zambian Energy Regulatory Board (ERB) has announced a reduction in fuel prices for July effective today, July 1, 2025, citing favourable factors including appreciation of the local currency Kwacha and decline in cost of imported fuel.
According to ERB, in the month of June 2025, the Kwacha appreciated against the United States Dollar by 11.20%, from K27.06/US$ to K24.03/US$ while the Tanzanian Bulk Procurement System (BPS) premium for Petrol declined by 20.33% from US$157.50/MT to US$125.48/MT, with the price for Kerosene/Jet A-1 also declining by 5.64% from US$179.00/MT to US$168.90/MT.
The ERB further said TAZAMA Open Access, which commenced in April 2025, has yielded positive results, recording downward movements in the premiums for Diesel. The TAZAMA Open Access premiums for Diesel declined by 0.42% from US$43.19/MT to US$43.01/MT.
Based on the foregoing, the Energy Regulation Board (ERB) has revised the pump prices.
A litre of petrol now retails at K28.00, K23.13/litre for Diesel, K21.98/litre for Kerosene, and K23.94/litre for Jet A-1, respectively.
Source: https://energynewsafrica.com
Britain’s energy regulator, Ofgem, has given the provisional green light to an investment program of $33 billion (£24 billion) to maintain essential gas distribution networks and expand the power grid in a move to boost energy security and allow more renewables to enter the electricity system.
A total of $20.7 billion (£15 billion) will ensure the continued safe operation of Great Britain’s gas transmission and distribution networks, making sure they deliver safe and secure supplies of gas to households and businesses across the UK, Ofgem said on Tuesday.
Another $12.2 billion (£8.9 billion) is earmarked for Britain’s high-voltage electricity network, with a further $1.8 billion (£1.3 billion) ready to go – to power the biggest expansion of the electricity grid since the 1960s.
This investment plan is the first step in an estimated $110 billion (£80 billion) investment program boosting electricity network capacity, protecting UK households from the volatile international gas markets that caused the massive fluctuations in energy bills in recent years.
The investment in the grid, which will rise to around four times the current spending levels, will allow for 80 transmission projects and all associated works to be completed within five years, Ofgem said.
“This record investment will deliver a homegrown energy system that is better for Britain and better for customers. It will ensure the system has greater resilience against shocks from volatile gas prices we don’t control,” Ofgem CEO Jonathan Brearley commented.
“Doing nothing is not an option and will cost consumers more – this is critical national infrastructure. The sooner we build the network we need, and invest to strengthen our resilience, the lower the cost for bill payers will be in the future.”
Earlier this year, Ofgem said a new set of rules are granting early access to nearly $5.5 billion (£4 billion) of investment for crucial transmission equipment and services, which is expected to connect renewable energy projects to the grid quicker.
Source: oilprice.com
The African Development Bank Group has approved a $474.6 million loan for South Africa’s Infrastructure Governance and Green Growth Programme (IGGGP). This financing marks a significant milestone in the country’s transition toward a sustainable, low-carbon economy.
This is the second phase of the Bank’s strategic support for South Africa’s Just Energy Transition. It builds on the success of the $300 million Energy Governance and Climate Resilience Programme, approved in 2023, which delivered key reforms that bolstered financial stability and increased renewable energy capacity.
The African Development Bank’s support forms part of a historic $2.78 billion international financing package that includes $1.5 billion from the World Bank, €500 million from Germany’s KfW, up to $200 million from Japan’s JICA, and an expected $150 million from the OPEC Fund.
This coordinated financing underscores the global significance of South Africa’s energy transition, particularly under its G20 presidency.
The programme aligns with South Africa’s updated Nationally Determined Contributions under the Paris Agreement, which targets reducing greenhouse gas emissions to 398–510 million tons of CO₂ equivalent by 2025 and 350–420 million tons by 2030.
South Africa’s Minister of Finance, Enoch Godongwana, commented, “Our country faces the significant challenge of energy shortages, leading to loadshedding, as well as significant transport bottlenecks, which have been detrimental to growing our economy and achieving our developmental aspirations.
“With your partnership, our government has committed itself to stay the course and implement these critical reforms in the energy and transport sectors, while endeavoring to achieve our international commitments on climate change and our JET objectives.”
The IGGGP also places strong emphasis on green industrialization, skills development, and job creation, including support for electric vehicle manufacturing and green hydrogen production.
Recent estimates from the IMF show that South Africa’s Just Energy Transition could boost the country’s GDP growth by 0.2 to 0.4 percentage points annually between 2025 and 2030.
“This approval represents more than financing — it’s a blueprint for Africa’s energy future,” said Kennedy Mbekeani, African Development Bank Group’s Director General for Southern Africa. “South Africa’s success in building a just, green, and inclusive energy system demonstrates that sustainable development and economic growth can go hand in hand.”
This financing includes targeted grant components to promote energy efficiency initiatives and advance rail sector reforms. Key priorities include accelerating vertical separation and establishing an investment framework to revitalize South Africa’s freight and logistics systems.
These efforts are expected to strengthen competitiveness of the transport sector and contribute to regional integration and economic growth across the Southern African Development Community.
As an advanced economy in Africa and a regional power hub, South Africa’s success in its energy transition could catalyze similar transformations across the continent.
Its experience integrating renewable energy, modernizing its grid, and implementing just transition policies will provide valuable lessons for other African nations pursuing sustainable development goals.
The initiative incorporates comprehensive environmental and social safeguards, with a particular focus on gender and youth empowerment. Women will constitute 70% of the beneficiaries of the expanded Social Employment Fund, and dedicated youth skills programmes will equip the next generation for emerging opportunities in the green economy.
The success of the IGGGP will contribute to several United Nations Sustainable Development Goals, including affordable and clean energy (SDG 7), decent work and economic growth (SDG 8), industry, innovation, and infrastructure (SDG 9), and climate action (SDG 13).
Source: https://energynewsafrica.com
The Chamber of Oil Marketing Companies (COMAC) in Ghana is urging the government to scrap the subsidy on Marine Gas Oil (MGO), arguing that this move could save the nation millions of cedis.
COMAC claims that some unscrupulous individuals in the industry are diverting the product to retail outlets to sell for private gains. The subsidy was introduced to reduce the cost of the product for the local maritime industry, including trawlers and maritime security operations.
The aim was to support a critical sector that underpins Ghana’s food security and coastal border protection framework.
However, addressing a press conference in Accra on Monday, the Chief Executive Officer of COMAC, Dr Riverson Oppong, and the Chairman of the Chamber, Gabriel Kumi, said the chamber received credible reports and formal complaints from industry stakeholders indicating widespread abuse of the low-tax Marine Gas Oil subsidy.
According to them, these reports have been substantiated by a formal investigation by the Office of the Special Prosecutor (OSP).
They alleged that there are significant revenue losses linked to illegal bunkering activities in Ghanaian territorial waters, where subsidised fuel is being diverted for unauthorised commercial use.
“The implications of these illegal operations result in higher operating costs for genuine beneficiaries in the fishing industry and unfair competition against tax-compliant PSPs,” they said.
These illegal activities have resulted in an unsustainable 553 per cent increase in MGO local volumes over the 2022-2024 period, which, according to the chamber, is worrying.
“This situation raises serious concerns about the effectiveness of regulatory enforcement and the integrity of existing control systems,” they said.
COMAC believes that removing the subsidy would help restore market fairness and generate critical revenue to reduce the energy sector’s debt burden.
They also want regulatory institutions to strengthen their oversight and ensure strict enforcement of regulatory measures to prevent diversion and curb ongoing tax evasion.
Source: https://energynewsafrica.com
A Marshall Islands-flagged oil tanker, the Vilamoura, suffered an explosion on June 27 while en route from Libya’s Zuetina port to Gibraltar, the vessel operator TMS revealed in a statement on Monday.
The vessel, carrying approximately 1 million barrels of crude oil, experienced a blast in its engine room the statement said.
Fortunately, no personnel were injured, and there have been no reports of oil spills or pollution.
The tanker is currently being towed to Greece, with an estimated arrival date of July 2.
The cause of the explosion remains unclear.
However, speculation suggests it might be linked to a pattern of mysterious explosions on tankers that have previously visited Russian ports.
The Vilamoura had picked up crude from Kazakhstan at Russian oil ports in April and May.
This incident follows similar unexplained explosions on other tankers that had recently called at Russian oil ports.
As a precaution, tanker owners and operators have begun inspecting vessel hulls for potential mines.
Damage assessment will be conducted upon the Vilamoura’s arrival in Greece.
Source: https://energynewsafrica.com
The Ghana National Gas Company Limited (Ghana Gas) CEO, Ms. Judith Adjobah Blay, embarked on a one-day working visit to Tema in the Greater Accra Region to engage gas off-takers in the area and explore ways to enhance collaboration and operational efficiency.
During her visit, Ms. Blay held a series of high-level meetings with executives of these companies.
She made a first stop at Fujian Sentuo Ceramic Tile Company Limited, where she met with the Managing Director, Mr Orson Xu.
She then visited Continental Blue Investment Ghana Limited, where she had productive discussions with the Managing Director, Mr Frederic Albrecht, and the General Manager of Operations, Mr Remi Touvet, on improving business relations.
Her third stop was at the West African Gas Pipeline Company (WAPCo), where Ms. Blay met with a team led by the General Manager of Operations, Mr Abubakar Bello Gwadabe.
Accompanied by Ing Benoni Owusu Ayeh, Mr Samuel Buckman, and Mr Kwamina Abaka, their discussions focused on strengthening gas transportation networks and operational efficiency across the region.
She continued her visit to Sentuo Oil Refinery Limited, where she was welcomed by the Sentuo Group Chairman, Mr Ningquan Xu, Consultant and Group Corporate Affairs Representative, Dr George Dawson, Plant Manager, Mr Albert Duncan, and Corporate Affairs Manager, Mr Benjamin Cobblah.
Their discussion centered on Ghana Gas’ vital role in supporting downstream refining operations.
Ms. Blay also engaged with officials from the Volta River Authority (VRA) to reaffirm the strong partnership between the two institutions in advancing reliable power generation and ensuring energy sustainability for the country.
The visit concluded with a tour of the Tema Regulating and Metering Station (TRMS).
Ms. Blay commended the staff for their hard work and dedication, recognising the station’s key contribution to maintaining the stability and security of Ghana’s energy supply.
Source: https://energynewsafrica.com
Zambian President Mr. Hakainde Hichilema is expected to officially commission the 100-megawatt Chisamba Solar Power Plant, located in the Central Province, today, Monday, June 30, 2025.
The project aligns with the President’s solar initiative to diversify the country’s energy sources, following the severe drought in 2024, which resulted in limited inflow into the Kariba Hydroelectric power dam.
Today’s commissioning marks a significant step forward in Zambia’s national energy agenda as the country continues to diversify its energy mix and strengthen its shift towards clean, reliable, and sustainable power generation.
“The commissioning of the Chisamba Solar Plant demonstrates the government’s unwavering commitment to promoting renewable energy and enhancing energy security for all Zambians.
“The plant will support economic growth through improved power availability,” said Makozo Chikote, Minister for Energy, in a statement.
He concluded that he looks forward to this historic occasion and the positive impact it will have on the country’s energy landscape.
Source: https://energynewsafrica.com
Ghana and Côte d’Ivoire have jointly signed memoranda of understanding (MoU) to commit to the implementation of a World Bank-funded 330 kV interconnection reinforcement project.
The MoU covers the establishment of Joint Interstate Committee and Joint Technical Steering Committee to facilitate the successful implementation of the project.
For Ghana’s side, the Deputy Minister for Energy and Green Transition, Richard Gyan Mensah, initialed the document, while Jean Baptiste Aka K. Kadjo, a Deputy Minister for Mines, Petroleum and Energy, signed on behalf of Côte d’Ivoire in Accra on Friday, June 27, 2025.
The project will be executed by the Ghana Grid Company (GRIDCo) and CI-Energies of Côte d’Ivoire.
The project will be funded with a $150million (equivalent of €154million) concessionary loan from the World Bank, and it is expected to start in 2026 and come to completion by 2028.
The project aims to increase electricity trade between Ghana and Côte d’Ivoire and improve the WAPP network and market operation.
Both countries are going to undertake critical electrical infrastructure under the project.
Ghana’s component includes the construction of 121 km 330 kV double circuit transmission line from Dunkwa to Ghana/Cote d’Ivoire border (Elubo), construction of 75 km of 330 kV single circuit transmission line from Dunkwa to Awodua, construction of 330/161kV Substation at Dunkwa and implementation of relevant environmental mitigation measures and resettlement action plan for the project.
Cote d’Ivoire’s component includes the construction of 125 km 330 kV double circuit transmission line from Ghana/Cote d’Ivoire border (Elubo) to Bingerville and implementation of relevant environmental mitigation measures and resettlement action plan for the project.
Commenting on the project, the Deputy Minister for Energy and Green Transition said the project reflected the shared vision of both Ghana and Côte d’Ivoire, stating that the Government of Ghana fully supports it, and it is prepared to offer expertise, resources and institutional backing to guarantee the successful implementation of the project.
“This strategic initiative do not only see to reinforce interconnection between our two countries but also improve grid stability, enhance operational reliability and provide a robust platform for power exchange within West Africa electricity market,” he said.
Côte d’Ivoire’s Deputy Minister for Mines, Petroleum and Energy, Hon. Baptiste Aka Kadjo, highlighted the long-term benefits.
“This stands as a defining moment for our shared energy future — fostering stability, resilience, and socioeconomic growth across borders.”
Maame Tabuah Ankoh, the Work Bank’s Senior Energy Specialist, who reaffirmed the commitment of the bank, said the bank is very happy about the progress made towards the realisation of the project.
“This project is a pivotal step towards developing regional electricity, trading and integration,” she said.
Source: https://energynewsafrica.com
Zambia’s Ministry of Energy has set a good example to encourage state institutions and private developers as it officially commissions a 121.8 kilowatt rooftop solar photovoltaic (PV) system with 125 kilowatt-hour battery storage at the Ministry of Energy headquarters in Lusaka.
The project marks a major step forward in the government’s drive to promote clean and reliable energy solutions across public institutions.
Commissioning the project, Energy Minister Mr. Makozo Chikote said the installation is a direct response to the Presidential Solar Initiative, which was rolled out following the 2024 drought.
The drought, declared a national disaster and emergency by President Hakainde Hichilema on March 1, 2024, prompted urgent action to enhance energy resilience in the country.
In line with this, Cabinet Office Circular No. 13 of 2024 directed all government institutions to install rooftop solar systems to reduce reliance on hydropower and improve energy sustainability.
“I stand proud today as Minister of Energy to commission this rooftop solar PV system—a clear demonstration of our Ministry’s commitment to lead by example,” Mr. Chikote stated. The K6.8 million project was successfully delivered using Zambian technical expertise, a point the Minister emphasized as proof that local professionals are capable of providing innovative, homegrown energy solutions.
“This system shows that Zambians have the skills and capacity to build a sustainable energy future. It’s not just a technical installation—it’s a statement of national competence,” he said.
Hon. Makozo Chikote, Minister for Energy, Zambia.
The rooftop solar system now provides uninterrupted power to the Ministry’s offices 24 hours a day, seven days a week. It is equipped with net-metering capabilities, allowing the Ministry to export excess electricity to the national grid.
Effectively, ZESCO now functions as a backup power source, while solar has become the primary supply.
Before this transition, the Ministry relied on a diesel generator, spending up to K68,000 per month on fuel. The switch to solar is not only environmentally sustainable but also financially prudent, significantly cutting operational costs.
The Permanent Secretary for Electricity, Engineer Arnold Simwaba, who also spoke at the event, reaffirmed the Ministry’s commitment to the Presidential directive. He said the Ministry of Energy, as the lead agency in the sector, was duty-bound to implement and showcase renewable energy solutions.
“We are not just policymakers—we are implementers. This installation is living proof of our resolve to walk the talk and lead the clean energy transition,” said Eng. Simwaba.
Minister Chikote further called on all public institutions that have not yet installed rooftop solar systems to engage the Ministry of Energy for technical guidance, load assessments, and implementation support.
“This system is a model for replication. We are facilitating similar projects across the country and urge other ministries and government agencies to act swiftly,” he said. He added that adopting renewable energy is no longer optional, given the increasing frequency of climate shocks affecting hydropower generation.
He urged all Zambians to embrace distributed energy generation as a key step toward national energy security.
The commissioning underscores the government’s broader commitment to decentralizing energy production, enhancing efficiency in public service delivery, and reducing dependence on hydropower.
Mr. Chikote reaffirmed the Ministry’s unwavering dedication to actualizing President Hichilema’s vision of a resilient, energy-sufficient Zambia.
Source: https://energynewsafrica.com
The UK Government and Japan have signed a memorandum of understanding (MoU)
for cooperation on fusion energy – as companies in the two countries announce new collaborations.
The memorandum of cooperation was signed by UK Climate Minister Kerry McCarthy and Japan’s Education, Culture, Sport, Science and Technology Minister Hiroshi Masuko and aims to “further collaboration in key fusion areas including research and development, regulation and skills and workforce”.
McCarthy, said: “The UK is optimally positioned for global fusion investment. Global partnerships such as this one will advance technological developments and help unlock limitless clean fusion power, bringing a fusion energy future closer to a reality.”
Separately there has been a memorandum of understanding signed between the UK’s Fusion Cluster and the Japan Fusion Energy Council “to foster industrial collaboration, knowledge exchange, and workforce development”, and Kyoto Fusioneering has relocated its UK headquarters to UK Atomic Energy Authority’s Culham Campus near Oxford.
The collaboration between the Fusion Cluster and the Japan Fusion Energy Council will see them working together to “promote mutual understanding and strategic collaboration in fusion energy development; facilitate cooperation between Japanese and UK industries; and contribute to the development of a global-scale fusion energy ecosystem”.
Meanwhile Tokamak Energy, which is based close to Culham, has announced that it has agreed with Japan’s Furukawa Electric Group to establish a joint operational base in Japan for manufacturing high temperature superconducting magnet (HTS) technology.
This is the method being used to create the strong magnetic fields needed to confine and control hydrogen fuel, which becomes a plasma several times hotter than the Sun, inside a tokamak.
The two companies say they will also explore uses of the technology in a range of other industries, including in medicine and for propulsion under water and in space.
Warrick Matthews, Tokamak Energy CEO, said: “Our magnet technology is an essential part of turning the promise of limitless clean fusion energy into commercial reality. This new venture with Furukawa Electric Group will ramp up our manufacturing capabilities and open a new era of superconducting performance in a range of sectors, from powering data centres to revolutionising electric zero emission motors.”
Hideya Moridaira, President, Furukawa Electric Group, said: “We are truly honoured to take this important step forward with Tokamak Energy, deepening our collaboration and initiating efforts toward manufacturing HTS magnet technology for fusion energy in Japan by combining our HTS technology with Tokamak Energy’s innovative fusion technology, we are confident we can contribute meaningfully to the next generation of energy solutions.”
Source:https://energynewsafrica.com
Ghana’s Minister for Energy and Green Transition – Mr John Abdulai Jinapor – is pushing for the West African nation to make it mandatory for all ministries to introduce the use of electric vehicles into their transport pool.
According to him, a memo will soon be submitted to cabinet for a decision to be taken to ensure that electric vehicles are introduced by all government institutions to reduce vehicles that use fossil fuel in Ghana.
He disclosed this when he delivered a keynote address at the launch of the Energy Commission’s Solar-powered Electric Vehicle Charging Station on Wednesday, June 25, 2025.
“My Ministry of Energy is also submitting a memo to cabinet where all ministries will be provided with EV vehicles so that all ministers will drive EV vehicles within Ghana, and we intend to extend that to other government agencies so that, in Accra, we use EV as a catalyst to encourage the public to adopt the use of EV vehicles,” he stated.
Mr Jinapor, who is also the Member of Parliament for Yapei Kusawgu, noted that the transition to EV vehicles is environmental decision, as well as economic one, arguing that EV buses and vehicles have lower operational cost compared to fossil fuel.
In this respect, he said, they would work with state-owned GOIL and the private sector to build EV charging stations across all urban corridors in its fuel leading filling stations to encourage the patronage of EV vehicles.
He revealed that the Ministry of Energy and Green Transition was working with the Ministry of Environment and other allied agencies to ensure a smooth assimilation of the EV vehicles project to protect the environment from further destruction.
He also urged all stakeholders in the energy, environment and transportation value chain to embrace this laudable initiative to help Ghana move swiftly from over reliance on fossil fuel energy which has proven to be environmentally unsustainable to a cleaner and more cost effective way of protecting our environment.
“Let us work together to scale up this infrastructure, incentivise adoption and imbibe sustainability at the heart of transport and energy system and government will provide all the incentives to the private sector.
“Government alone cannot do this. The private sector should take advantage of this transition drive and invest in this sector, backed by regulatory and policy directives to excel,” he tasked them.
“Together, let us power Ghana through a clean future-efficient and sustainable manner,” Mr Jinapor further stressed.
Source: https://energynewsafrica.com
Halliburton, a US-based oil and gas services provider, has won a contract for GeoFrame Energy’s geothermal and direct lithium extraction (DLE) project.
Through this collaboration, Halliburton will plan and design the first demonstration phase wells in the Smackover Formation in East Texas, with work expected to begin in late 2025.
According to GeoFrame Energy, “Halliburton’s 100-year legacy of well expertise and execution, combined with innovation to support new energy projects and decades of experience in the Smackover Formation, makes them the best candidate to support our project, capitalizing on the current demand for lithium through brine extraction.’’
According to Duane Sherritt, Vice President of Low Carbon Solutions at Halliburton, “The company’s 100-year legacy of well expertise and execution, combined with innovation to support new energy projects and decades of experience in the Smackover Formation, makes us the best candidate to help support GeoFrame Energy’s vision.”
Bruce Cutright, CEO of GeoFrame Energy, said, “Halliburton, as a critical member of our team, will support the drilling phase of our project through the construction, design, and operation of the demonstration wells and the expansion into full field development.”
Cutright noted that GeoFrame Energy’s project is more than just a lithium production facility — it’s a model for responsible mining. The company plans to use geothermal brine to generate renewable electricity through zero-emission binary cycle generators, powering its direct lithium extraction and lithium carbonate production plant with renewable energy, and selling excess geothermal power to the grid.
Source: https://energynewsafrica.com
Iran’s foreign minister has admitted that “excessive and serious” damage was done to the country’s nuclear sites in the recent US and Israeli bombings.
Abbas Araghchi told a state broadcaster on Thursday evening that an assessment of the damage is being carried out by the Atomic Energy Organisation of Iran.
But, just hours earlier, Iran’s Supreme Leader Ayatollah Ali Khamenei said the strikes did not disrupt the country’s nuclear programme. Khamenei was responding to US President Donald Trump’s assertion that the bombs had “totally obliterated” three nuclear sites.
Khamenei said the US attacks had failed to “accomplish anything significant”.
The supreme leader, who has been in hiding since the war with Israel began on 13 June, insisted that Trump had “exaggerated” the impact of the bombs, and declared victory over the US and Israel.
But Araghchi’s remarks create a different impression.
The foreign minister also said there were no plans to resume nuclear talks with the US. Iran cancelled a scheduled sixth round of talks when Israel began its attacks.
“I would like to state clearly that no agreement, arrangement or conversation has been made to start new negotiations,” he said.
He added that the government was examining what was in the “interest of the Iranian people”, saying its approach to diplomacy will take a “new form”.
He did not explain what he meant.
In an attempt to bring Iran back to the negotiating table, the Trump administration has discussed the possibility of helping Iran access $30bn to build a civilian-energy-producing nuclear programme, easing sanctions and freeing up billions of dollars in restricted Iranian funds, CNN has reported.
But developments in Iran might obstruct such a move.
On Wednesday, Iran’s parliament approved a bill to stop co-operation with the global nuclear watchdog, the International Atomic Energy Agency (IAEA). If it is implemented, it would mean Iran is no longer committed to allowing nuclear inspectors into its sites.
Israel has said its offensive against Iran was necessary to thwart what it claims are Iranian plans to develop nuclear weapons.
Iran has always insisted its nuclear programme is only intended for civilian purposes.
The US became directly involved in the conflict last weekend, striking facilities in Fordo, Natanz and Isfahan, before Trump sought to rapidly mediate a ceasefire between Israel and Iran.
US Defence Secretary Pete Hegseth said intelligence gathered by the US and Israel indicated the strikes “significantly damaged the nuclear programme, setting it back by years”.
A leaked preliminary Pentagon assessment downplayed the significance of the damage and said the US strikes only set Iran’s nuclear programme back by a few months. The leak has been dismissed by the administration.
Iran’s health ministry said 610 people were killed during the 12 days of Israel air strikes, while Israeli authorities said 28 were killed in Israel.
Source: BBC NEWS
The World Bank Group andthe International Atomic Energy Agency (IAEA) sealed an agreement today to work together to support the safe, secure and responsible use of nuclear energy in developing countries.
The partnership agreement, signed by World Bank Group President Ajay Banga and IAEA Director General Rafael Mariano Grossi, formalizes multiple engagements between the two institutions over the last year, and marks the World Bank Group’s first concrete step to reengage with nuclear power in decades.
The agreement also reflects a new, broader approach by the World Bank Group to electrification—one that prioritizes accessibility, affordability, and reliability, while managing emissions responsibly.
With electricity demand in developing countries expected to more than double by 2035, this approach aims to help countries deliver the energy people need by enabling pathways that best fit their national context, including development objectives and Nationally Determined Contributions.
Nuclear energy provides continuous baseload power, enhancing grid stability and resilience. Reliable baseload electricity is essential for job-generating sectors such as infrastructure, agribusiness, healthcare, tourism, and manufacturing.
Nuclear power is also a source of high-skilled employment and stimulates investment across the broader economy. In addition, it can adjust to changes in electricity demand and support frequency regulation, enabling greater integration of variable renewable energy sources.
“Jobs need electricity. So do factories, hospitals, schools, and water systems. And as demand surges—with AI and development alike—we must help countries deliver reliable, affordable power. That’s why we’re embracing nuclear energy as part of the solution—and reembracing it as part of the mix the World Bank Group can offer developing countries to achieve their ambitions. Importantly, nuclear delivers baseload power, which is essential to building modern economies,” said World Bank Group President Ajay Banga.
“Our partnership with the IAEA marks an important step, and I’m grateful to Rafael for his personal commitment and leadership in making this possible. Together, we’ll deepen our expertise, support countries that choose nuclear, and ensure that safety, security, and sustainability guide every step forward.”
“Today’s agreement is a milestone and the result of a year of joint work since President Ajay Banga kindly invited me to the World Bank Group Executive Board in Washington in June of last year,” IAEA Director General Grossi said. “This landmark partnership, yet another sign of the world’s return to realism on nuclear power, opens the door for other multilateral development banks and private investors to consider nuclear as a viable tool for energy security and sustainable prosperity. Together, we can help more people build a better future.”
Under the memorandum of understanding signed today, the IAEA will work with the World Bank Group in three key areas:
Build knowledge related to the nuclear field: Expand the World Bank Group’s understanding of nuclear safety, security, safeguards, energy planning, new technologies, fuel cycles, reactor lifecycles, and waste management.
Extend the lifespan of existing nuclear power plants: Support developing countries in safely extending the life of existing nuclear reactors-one of the most cost-effective sources of low-carbon power-as many global reactors near the end of their original 40-year design life.
Advance SMRs: Accelerate the development of small modular reactors (SMRs), which offer flexible deployment, lower upfront costs, and potential for wide adoption in developing economies.
Thirty-one countries currently operate nuclear power plants, which combined produce about 9% of the world’s electricity, amounting to almost a quarter of all low-carbon power globally.
More than 30 other countries, most of them in the developing world, are considering or already embarking on the introduction of nuclear power and are working with the IAEA to develop the necessary infrastructure to do so safely, securely and sustainably.
“SMRs have great potential to cleanly and reliably power progress and fight poverty, but financing remains a roadblock,” Director General Grossi said. “Today’s agreement is a crucial first step to clearing that path.”
Source: IAEA
Source: https://energynewsafrica.com 
She then visited Continental Blue Investment Ghana Limited, where she had productive discussions with the Managing Director, Mr Frederic Albrecht, and the General Manager of Operations, Mr Remi Touvet, on improving business relations.
Her third stop was at the West African Gas Pipeline Company (WAPCo), where Ms. Blay met with a team led by the General Manager of Operations, Mr Abubakar Bello Gwadabe.
Accompanied by Ing Benoni Owusu Ayeh, Mr Samuel Buckman, and Mr Kwamina Abaka, their discussions focused on strengthening gas transportation networks and operational efficiency across the region.
She continued her visit to Sentuo Oil Refinery Limited, where she was welcomed by the Sentuo Group Chairman, Mr Ningquan Xu, Consultant and Group Corporate Affairs Representative, Dr George Dawson, Plant Manager, Mr Albert Duncan, and Corporate Affairs Manager, Mr Benjamin Cobblah.
Their discussion centered on Ghana Gas’ vital role in supporting downstream refining operations.
Ms. Blay also engaged with officials from the Volta River Authority (VRA) to reaffirm the strong partnership between the two institutions in advancing reliable power generation and ensuring energy sustainability for the country.
The visit concluded with a tour of the Tema Regulating and Metering Station (TRMS).
Ms. Blay commended the staff for their hard work and dedication, recognising the station’s key contribution to maintaining the stability and security of Ghana’s energy supply.
Source: https://energynewsafrica.com 
“This strategic initiative do not only see to reinforce interconnection between our two countries but also improve grid stability, enhance operational reliability and provide a robust platform for power exchange within West Africa electricity market,” he said.
Côte d’Ivoire’s Deputy Minister for Mines, Petroleum and Energy, Hon. Baptiste Aka Kadjo, highlighted the long-term benefits.
“This stands as a defining moment for our shared energy future — fostering stability, resilience, and socioeconomic growth across borders.”
Maame Tabuah Ankoh, the Work Bank’s Senior Energy Specialist, who reaffirmed the commitment of the bank, said the bank is very happy about the progress made towards the realisation of the project.
“This project is a pivotal step towards developing regional electricity, trading and integration,” she said.
Source: https://energynewsafrica.com 
