Renewable energy firm AMEA Power, headquartered in the UAE, has announced the signing of a 20-year Power Purchase Agreement (PPA) with Eskom, a major South African utility company, for the 120-megawatt Doornhoek Solar Photovoltaic (PV) Project. The project, awarded under Bid Window 6 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), was developed by a consortium led by AMEA Power in partnership with local entities. AMEA Power holds the majority share in the
According to a report released today by the International Energy Agency (IEA), China maintained its stronghold on the global investment landscape in photovoltaic solar module manufacturing, accounting for 80% of global investment in 2023. The IEA’s findings suggest that China’s leadership in this sector is unlikely to change in the near future. The report paints an optimistic picture of the capacity of factories worldwide to produce solar installations necessary to achieve climate goals by 2030.
The unemployment rate in the United States of America (USA) rose to 3.9% in April, a tenth more than in the previous month and the economy created 175,000 new jobs, the Department of Labor reported. ob creation was below what was expected by economists, who pointed to 243,000 jobs and a far cry from the 315,000 in March. These data suggest that the Federal Reserve’s (Fed) restrictive monetary policy, with successive interest rate hikes until
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has launched its 2024 licensing round that features 12 oil blocks, combined with 5 deep offshore assets from last year’s round. Available through January 2025, the acreage on offer includes but is not limited to 6 greenfield oil blocks situated on the continental shelf, 4 deep offshore blocks and 2 onshore blocks in the Niger Delta. The Commission is seeking to establish an investment-friendly environment by ensuring regulatory
Transitional energy company Chariot has initiated drilling operations for the RZK-1 well, marking its first exploration well of 2024. Situated within Morocco’s onshore Loukos license, the Gaufrette prospect serves as the focal point for this drilling campaign. The primary objective of the drilling endeavor is to tap into an estimated 10 billion cubic feet (bcf) of natural gas resources. However, Chariot’s strategy includes plans to deepen the well in order to access potentially larger reserves.
Mauritania and Saudi Arabia have inked a Memorandum of Understanding (MOU) aimed at fostering knowledge exchange and collaboration within the clean energy sector. The agreement covers a wide array of areas, including renewables, green hydrogen, power, and carbon capture technologies. The MOU was signed by Saudi Energy Minister Prince Abdulaziz bin Salman Al-Saud and Mauritanian Minister of Petroleum, Mines, and Energy Nani Ould Chrougha during a special session at the World Economic Forum in Riyadh
Genesis Energy, an energy infrastructure development firm, and the US Agency for International Development (USAID) have entered into an agreement to mobilize $10 billion towards renewable energy, nature-based solutions, and climate mitigation measures in Africa. The collaboration aims to harness private sector investment to assist countries in fulfilling their Nationally Determined Contributions under the Paris Agreement. Implemented under USAID’s Comprehensive Action Against Climate Change Initiative, the agreement spans the next five years. Gillian Caldwell, USAID’s
South Africa’s Department of Forestry, Fisheries and the Environment (DFFE) has introduced fresh guidelines for solar photovoltaic (PV) and battery energy storage systems (BESS) developed in areas of “low” or “medium” environmental sensitivity. The guidelines represent a shift in South Africa’s renewable energy strategy, aiming to expedite renewable investments and project development while ensuring the protection of environmentally sensitive regions. In eligible zones, developers can streamline the environmental authorization (EA) process, reducing bureaucratic hurdles. Under
South Sudan’s Minister of Mining Martin Gama Abucha has called for increased cooperation among African countries in the mining sector, ensuring that the continent’s mineral resources benefit local populations. The announcement was made ahead of a mining investment forum in Malawi and comes before the seventh edition of the South Sudan Oil & Power (SSOP) 2024 conference and exhibition, taking place in Juba on June 25-28. This year’s SSOP conference will feature the inaugural South
De Beers Group, the world’s leading producer of rough diamonds by value, strategically scaled down production in the first quarter of 2024 to manage its inventory levels amidst the gradual recovery of the market. Despite experiencing a significant drop in demand for rough diamonds globally in 2023, De Beers maintained its production guidance for that year, resulting in substantial stockpiling. The global diamond industry faced a major decline in 2023 following strong demand in the
