Browsing: International Energy Agency (IEA)

• The joint development of the Green Giant Project will expedite the construction of the first 200MW phase of the investment.
• Mini-grids account for more than half of all new connections in DRC.
• The agreement represents a significant milestone in the collaborative efforts between SkyPower, AFC, and the DRC.

The Democratic Republic of Congo (DRC), Africa Finance Corporation (AFC) and SkyPower Global have entered into a joint development agreement for the first phase of SkyPower’s Green Giant project in the mineral-rich country.

The move is meant to promote the use of renewable energy in the Eastern African state. This 200MW Phase one is a crucial step towards achieving the landmark 1,000MW Solar Power Purchase Agreement (PPA) signed between SkyPower and the DRC’s state-owned utility, Société Nationale d’Electricité (SNEL).

The partnership brings together SkyPower’s extensive experience in developing large-scale solar projects and AFC’s successful track record of de-risking and funding well-structured power …

Nigeria has kicked off plans implementation of efforts to prepare its economy for a post-oil world.

According to the Africa’s largest oil producer’s minister of Science and Technology Ogbonnaya Onu, Nigeria looks to introduce methanol into the economy.

The minister who spoke at a forum this week said the move will reduce gas flaring by using the natural gas as a feedstock for methanol production.

The oil and gas sector in Nigeria accounts for about 10 percent of gross domestic product (GDP), according to OPEC estimates.

Nigeria’s revenue from petroleum exports represents around 86 percent of the country’s total exports revenue.

Investments

Nigeria has no plans to drop oil and gas exploration or to stop trying to attract investments in its most important revenue stream, despite the shocking report from the International Energy Agency (IEA), which suggested last week that no new investments in oil and gas are necessary if …