South Africa has launched the seventh bid round for its flagship Renewable Energy Independent Power Producer Procurement (REIPPP) program, targeting the development of 3,200 MW of wind and 1,800 MW of solar PV power. The bid round is part of efforts to establish 14,771 MW of new installed generation and storage capacity, including 9,600 MW of wind and 3,940 MW of solar. According to South Africa’s Ministry of Mineral Resources and Energy, both the seventh
Oil means different things to different African countries, but at the end of the day, it plays a big role in shaping the continent’s economy. Some countries see it as a major economic driver, while others rely on it as their main energy source. For instance, countries like Nigeria, Angola, Libya, and Algeria have become major players in the oil industry, shipping out millions of barrels each year. The money from these oil exports plays
Niger has announced that it will begin exporting its crude oil through the newly constructed Niger-Benin pipeline in January 2024. The pipeline, which was inaugurated last November, establishes a crucial link between Niger’s Agadem oilfield and Benin’s Port of Cotonou. Niger anticipates the export of 90,000 barrels per day (bpd) through the pipeline to Benin, earning export revenues on approximately one-quarter of the total volume. Currently, Niger operates a modest oil refinery with a capacity
London-listed Petra Diamonds has entered into a nonbinding term sheet on an exclusive basis with an undisclosed interested party for the potential sale of the Koffiefontein diamond mine, in South Africa. The diamond miner has been exploring a responsible exit from Koffiefontein since April 2022, with the operation having been placed on care and maintenance in November 2022. The company continues to transition Koffiefontein towards closure, with a closure application expected to be submitted to
In a continuation of the bloc’s overarching de-dollarization efforts, BRICS members Russia and South Africa had ditched the US Dollar in a landmark $265 oil deal. Indeed, reports have stated that the former tabbed Russian bank, Gazprombank as the preferred investor for the massive gas refinery contract. Although the specific currency utilized in the agreement has not been specified, the bank’s placement under US sanctions denotes its likelihood in local currencies. Moreover, the alliance has sought greater
The Indonesian state oil company Pertamina has cancelled its 20-year contract to purchase liquid natural gas (LNG) from Mozambique LNG, a TotalEnergies led project, suspended since 2021 due to the terrorist attacks in Cabo Delgado. According to the Argus website, which specialises in energy matters, an agreement signed in 2019 provided for the export to Indonesia of one million mtpa (million tons per year) of natural gas over 20 years. “There is no [penalty], because
The Democratic Republic of Congo has signed an agreement with a US company for a carbon credit deal covering the Congo Basin rainforest and peatlands. The dClimate company will help DR Congo to preserve the basin by reducing deforestation. The deal is aimed at preserving more than 100 million tonnes of carbon dioxide in the forest. In recent years, environmentalists have raised alarm over the depletion of thousands of acres in the Congo basin through
Libya’s National Oil Corporation (NOC) has been vocal about its intent to decarbonize energy sector activities. Emphasizing the reduction of gas flaring, the country aims to achieve net-zero emissions by 2030, supported by several initiatives led by Libya’s leading operators. By creating economic pathways to gas monetization, particularly for marginal fields in which gas flaring is a common practice, producers can capture more value from their resources, while eliminating a significant source of greenhouse gas
Green hydrogen development company, Hyphen Hydrogen Energy, has signed a Project Preparation Facility (PPF) agreement with the Development Bank of Southern Africa (DBSA) for its large-scale green hydrogen project in Namibia. To the tune of $5.4 million, the PPF will support the engineering, environmental and socioeconomic components of the project. “The DBSA and Hyphen’s partnership will facilitate the creation of a new asset class in the energy sector with a profound and positive economic, social
Electricity Minister, Kgosientsho Ramokgopa has announced that South Africa will initiate a procurement process for an additional 2,500 megawatts (MW) of nuclear power to tackle blackouts that have crippled the nation. The first of the new units will likely be operational in 2032 or 2033, Department of Energy Deputy Director-General for Nuclear Zizamele Mbambo told reporters Tuesday in the capital, Pretoria. According to data provided by Eskom, South Africa is facing a severe electricity crisis
