The British multinational oil and gas company, Shell has promised to aid Nigeria in resolving some of its energy crises. The company noted that it would help the Nigerian government use renewable energy sources to provide electricity for millions of Nigerians. A report by the Punch newspaper revealed that Shell has committed to assisting Nigerians in supplying electricity to millions of residents. The oil giants stated that they will provide Nigerians with off-grid energy sources
São Tomé and Príncipe is poised to embrace a new era of sustainable energy with the launch of a cutting-edge photovoltaic plant set to produce 10 megawatts of energy. The project, unveiled last week, boasts a total investment of 60.7 million euros and enjoys co-financing from prominent entities including the World Bank, the African Development Bank, and the Bank of Japan. The Clean and Sustainable Energy Access Project, as announced by the director of the
South Africa’s Department of Mineral Resources and Energy (DMRE) has launched Bid Window 7 under the country’s Renewable Independent Power Producers Procurement Program. The seventh bid submission phase aims to procure 3.2 GW of onshore wind and 1.8 GW of solar photovoltaic (PV) projects, for a total renewable energy capacity of 5 GW. “Given the energy challenges the country is facing, the qualification criteria has been developed to promote the participation of projects that are
France has introduced a new energy strategy that sees the development of up to 14 nuclear power plants to achieve carbon neutrality by 2050. The proposed draft law – set to be presented to the Cabinet next month – targets the construction of at least six new European Pressurized Reactors, while an additional eight reactors may be optioned to meet the country’s goal of reducing fossil fuel dependency from 60% to 40% by 2035. Despite
Globeleq, the leading independent power company in Africa, has completed its acquisition of a 52.5 % stake and a 22.5% stake in the 41 MW Central Solar de Mocuba solar PV power plant (Mocuba) in Mozambique from Scatec ASA and KLP Norfund respectively. Electricidade de Moçambique (EDM), the national power company of Mozambique, continues to hold the remaining 25% stake in the plant. This acquisition significantly expands Globeleq’s renewable energy footprint in Mozambique and comes
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
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
South African specialist investment manager, STANLIB, launched its STANLIB Khanyisa Energy Transition Fund last week at COP28 to mobilize crucial capital from long-term investors for South Africa’s energy transition and broader expansion across the continent. The Fund will target energy transition assets including renewable energy, decentralized energy, natural gas as a transition fuel, critical minerals, green hydrogen infrastructure and hybrid and electric vehicles. Led by Johan Marnewick, Head of STANLIB’s Credit Alternatives, it will play
International design and engineering firm, Dar Al-Handasah, entered into a Memorandum of Understanding (MoU) with Sun Africa, a utility-scale renewable project developer and off-grid solution provider, on December 6 at COP28. Under the terms of the MoU, Dar Al-Handasah will offer comprehensive technical support, including design, project management and construction supervision, for Sun Africa’s projects. The collaboration will initially span projects in Angola and Nigeria, with potential expansion across Africa, the Middle East and other
Libya has set an ambitious target to source up to 20% of its electricity from renewable energy resources by 2035 through a strategy that has gained the support of global partners. Established last October and announced earlier this month, the strategy is considered a strategic economic move by the government, as it serves to not only raise access to electricity but also alleviate fiscal stress. Currently, energy subsidies account for 30% of government spending annually.
