Browsing: renewable energy

Blue economy
  • Kenya looks to rise on its estimated $38.4 million blue economy investments to grow sector revenue to $921 million annually. 
  • Africa, with its vast coastline and rich marine resources, is poised to harness the immense potential of the blue economy.
  • BlueInvest Africa is a business-to-business event that aims to catalyse the growth of Africa’s blue economy through strategic investments.

The Kenyan government is looking to ride on its estimated $38.4 million (KES 5 billion) investments in the blue economy initiatives to increase revenue to $921 million (KES 120 billion) annually.

This will be a threefold increase from the current $288.6 million (KES 37.6 billion) that the state generates from the blue economy.

The Cabinet Secretary in the Ministry of Mining, Blue Economy & Maritime Affairs, Salim Mvurya, said that part of the plan was to map the fisheries’ infrastructure across the country.

“We want to increase the revenue to Sh120

the PRESAN-PC project
  • The African Development Bank has donated $20 million to Senegal to enhance food security and support small producers post-COVID through the PRESAN-PC project.
  • Infrastructure development, including agricultural boreholes and solar-powered systems, aims to increase farm production and resilience to climate change.
  • The project benefits vulnerable women and youth, includes contributions from various sources, and impacts 31,000 households across multiple Senegalese regions.

In an ambitious move to ensure food security and enhance the livelihoods of its small producers, Senegal has received a significant financial boost. On a notable day in March 2024, the African Development Bank Group allocated a $20 million donation to the nation for the Post-Covid Food and Nutrition Security Enhancement Project (PRESAN-PC).

The initiative aims to transform Senegal’s agricultural landscape, benefiting vulnerable women and young people through increased farm production and income.

African Development Bank’s $20 million donation to Senegal 

The African Development Bank’s generous donation comes from …

East African Data Centres rolls out $1.2Million solar investment
  • Solar energy, alongside wind power, has become the cheapest way to meet the growing demand for electricity, according to the World Bank.
  • World Bank’s Demetrios Papathanasiou says many developing countries have some of the world’s best solar and wind resources.
  • He expresses his optimism about the ability of global countries to tap into advances in solar energy and make dramatic gains.

Solar energy is expected to surpass coal as the world’s most available energy source by 2027. The African countries with the most immense global potential are critical drivers of this projection.

The World Bank, in its latest energy report update, says that of the nearly 675 million people who still live without electricity worldwide, more than 80 per cent, or 567 million people, live in sub-Saharan Africa.

It says that 2030 solar mini-grids could bring high-quality, uninterrupted power to 380 million people.

This is if governments and

energy costs
  • In Africa, just like elsewhere, energy-intensive businesses are under great pressure to decrease CO2 emissions.
  • Wärtsilä Energy knows more about this than most: many of our mining and industrial partners in Africa operate their microgrids, either from choice or necessity.
  • While wind and solar power can offer emission-free energy at lower costs than fossil fuels, their intermittent nature adds uncertainty to the system.

In African countries, particularly those with a well-developed industrial sector, a significant portion of energy production may come from the industry’s own power plants.

This is especially true in countries with low grid reliability, and industries rely on self-generated power to ensure a stable energy supply.

In this article, we offer insights into Wärtsilä Energy’s approach to supporting energy-intensive industries to optimise the use of renewable energy and reach their decarbonisation objectives.

In Africa, just like elsewhere, energy-intensive businesses are under great pressure to decrease CO2 emissions …

COp28 | oil and gas producers
  • Global oil and gas producers have remained under immense pressure to show more goodwill in the energy transition agenda.
  • As this year’s climate summit enters its homestretch, the most intriguing question is whether the final accord will pledge to reduce fossil fuels.
  • The oil and gas industry’s confidence has also caused tension with renewable groups and climate activists.

The 2015 Paris Agreement establishes measures and conditions requiring all member states to mitigate climate change through emission reductions. Further, Goal 7 of the 2030 Agenda for Sustainable Development calls for concerted efforts to ensure access to modern, cleaner forms of energy, while Goal 13 calls for action to combat climate change.

Consequently, the global energy transition is on the cards. There have been calls from the global north to the south for the world to find a proper compromise on energy needs even as climate change effects put sterner demands on …

green energy Africa
  • In Berlin, German Chancellor Olaf Scholz says his country will invest 4 billion euros in Africa’s green energy until 2030.
  • Scholz made the green energy plans after meeting African leaders and heads of international organizations during the G20 Compact with Africa conference.
  • Compact with Africa was initiated by Germany in 2017 during its presidency of the G20 to improve conditions for sustainable private sector investment and investment in infrastructure in Africa.

The government of Germany has pledged to invest $4.37 billion (4 billion euros) in Africa’s green energy until 2030. German Chancellor Olaf Scholz made the announcement at a press conference in Berlin after meeting African leaders and heads of international organisations including the President of the African Development Bank (AfDB) Group Dr Akinwumi Adesina, during the G20 Compact with Africa conference.

The Compact with Africa was initiated by Germany in 2017 during its presidency of the G20 to improve …

West African States
  • Xlinks will build a 3,800-kilometer subsea cable to supply solar and wind power.
  • Morocco will construct a 20GWh/5GW battery storage on-site to store and deliver reliable energy to the UK when required.
  • The undersea cable will be buried at depths between 100m and 250m for most of the route.

Africa’s energy sector has garnered increasing attention in recent times, driven by a global quest for alternative energy sources. Investors worldwide are turning their gaze toward the continent, drawn by its substantial energy reserves. Notably, the Morocco-UK power projects have made significant strides in recent developments.

One such project, led by Xlinks, a UK-based power plant, is diligently preparing the infrastructure required for an underwater renewable energy facility. This ambitious initiative not only bolsters Africa’s international connections but also heralds a transformative shift toward greener energy solutions across the continent.

Morocco-UK power project kickstarts 

According to Joab Okanda, Africa contains

global fuel prices on the rise

Russia’s invasion of Ukraine in February 2022 threw oil and gas markets into disarray. Consequently, the world experienced the first real global energy crisis during the uneven economic recovery from the COVID-19 epidemic. Russia’s inclusion in the OPEC+ group has hampered international attempts to manage the situation. This has made it harder to handle the significant inflationary effects of rising global fuel prices, particularly in developing nations.

Global fuel prices have risen exponentially in the last few months. The rise is hugely significant, as it has seriously aggravated the global cost-of-living crisis. African economies have particularly been on the receiving end. The continent has suffered from disrupted supply chains and a slowdown in the global economic outlook. Thus, rising energy costs complicate matters even further.…

Green bond issuances promoting the use of renewables in Africa
  • PROPARCO and the IFC, are scaling up of renewable energy production in both Kenya and DRC. 
  • The two organisations will support Nuru, an early-stage company that provides decentralized and low-carbon power solutions in DRC. 
  • PROPARCO will invest in the first close of E3 Low Carbon Economy Fund I (LCEF), which based in Kenya.

Two renewable energy investments in the Democratic Republic of Congo (DRC) and Kenya will receive financial backing to enhance their low-carbon power solutions.

The move comes after PROPARCO and IFC announced plans to support scale up of renewable energy in the two countries. PROPARCO and IFC are members of the Alliance for Entrepreneurship in Africa.

The two organizations declared support for Nuru, an early-stage startup that offers decentralized and low-carbon electricity solutions in the DRC, during the Paris summit for a new global funding agreement.

“Our support for Nuru, delivered with partners through the Alliance for Entrepreneurship …

crypto mining hub

An efficient crypto mining industry can generate more job opportunities in Africa as the demand for miners, blockchain specialists, and technology specialists increases, . This encourages nations to enhance their energy and technological capacities to support crypto operations. These enhancements can considerably benefit other industries and the economy as a whole.

African nations must embrace the chance to become a crypto mining hub. This can aid in the digital economy’s growth, citizens’ financial standing, and the infrastructure for energy production. Consequently, African governments can invest in cryptocurrencies to acquire alternative funding sources for developing renewable and alternative energy sources.…