Browsing: renewable energy

Mozambique gets grant to advance its renewable energy resources. www.theexchange.africa

The support for the 2023-2028 period takes into account that Mozambique is indicated as at the same time one of the countries most vulnerable to climate change and one of the least developed.

Despite the riches of its subsoil, the initiative foresees studies for the production of green hydrogen in Mozambique, and the Belgian Development Agency will supply solar panels to remote areas without connection to the electricity grid.

The supply of potable water and irrigation solutions based on solar energy is also being planned, the statement adds.

Belgium will also support the implementation of a national programme for sustainable waste management, which includes the construction of recycling facilities in Nacala and Nampula, with additional support from the NAMA Facility, a multi-donor fund.…

Mike Teke South Africa's charismatic mining tycoon

The remainder of Anglo’s coal assets were demerged from the group and bundled into a new company called Thungela Resources Limited. This strategy in coal mining circles is called “mine to mouth” and is being continued by Seriti. Eskom, South Africa’s power utility, has an agreement where its thermal power stations are fed with coal from the company’s Kriel and New Largo mines. These mines are adjacent to the power stations.

Seriti Resources (the company’s name is from the native Sotho language and means integrity) was formed in 2017. Mike Teke, through his investment vehicle Masimong Holdings Group owns 25% of Seriti Resources.

The remainder of the shares in the energy company is owned by Sandile Zungu’s Zungu Investments Company, Thebe Investments Corporation, and Community Investment Holdings.…

www.theexchange.africa
  • CrossBoundary Energy has completed a US$40 million equity investment from Norfund and KLP
  • The deal will allow CrossBoundary Energy to further scale its investments in renewable energy solutions for commercial and industrial businesses across Africa
  • The $40M commitment is a continuation of Norfund’s and KLP’s earlier investments in the C&I sector and endorses the scale and maturity of the distributed generation sector in Africa

Renewable energy systems developer CrossBoundary Energy has completed a US$40 million equity investment from Norfund and KLP.

Norfund is the Norwegian Investment Fund for developing countries, while KLP is Norway’s largest pension company.

According to the partners, the commitment will allow CrossBoundary Energy to further scale its investments in renewable energy solutions for commercial and industrial businesses across Africa.

The $40M commitment is a continuation of Norfund and KLP’s earlier investments in the C&I sector and endorses the scale and maturity of the distributed generation sector …

Renewable energy outdoes oil, coal and gas in Foreign Direct Investment. www.theexchange.africa
  • In 2020, the capital investment in the renewable energy sector was at US$8.72 billion, outshining oil and gas for the first time
  •  Despite the damage caused to the climate, gas and oil are at the core of the energy sector, which is concerning
  • The United Arab Emirates (UAE) topped in the Middle East, attracting foreign direct investment (FDI) in renewable energy close to US$2.4 billion in 2020

One of the conclusions of the 26th United Nations Climate Change Conference, which was held in Glasgow, Scotland, is that the climate change effect caused by fossil fuels on the earth might be irreversible by 2030.

The COP 26 conference emphasized the cutting down subsidies granted for coal and fossil fuels to low- and middle-income countries. However, there is no amicable consensus arrived on the above emphasis.

It appears that global financial firms are reluctant to curtail the direct and indirect financing of …

A phosphate mine. Morocco has more than 70 per cent of the world's phosphate rock supplies. www.theexchange.africa

The agreement places a premium on the expansion of the collaboration, particularly in renewable energy. Additionally, collaboration opportunities will be discovered in the areas of energy efficiency, energy technology, the hydrogen economy, flexible energy systems, storage solutions, integration technologies, hydrogen and Power-to-X, and research and development. 

The two ministries will endeavor to expedite the formation of partnerships between bilateral agencies and businesses to execute cooperative initiatives in innovation, research, and development. Renewable energy, energy efficiency, and energy systems are critical components of a prosperous society. Finland has established considerable expertise in these domains, and it makes sense to foster this practical cooperation with Morocco. …

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solar power greenpeace

However, all efforts have been directed in that sector to try and make it greener and cleaner. Among consumers, a major shift is now being witnessed with most of the industries investing in clean energy sources that are both affordable and sustainable.

Such initiatives have made Kenya be rated among the top countries that are implementing their nationally determined contributions that seek to cut greenhouse gas emissions in the country by 32 per cent by 2030.

The latest industry to have made noted efforts to transit to clean Energy is Bamburi Cement Factory situated in Bamburi Mombasa.…

Bboxx Kenya will use the US$14 million loan to connect 470,000 Kenyan households to renewable energy sources. www.theexchange.africa
  • Data by the World Bank Group reveals that Kenya’s electrification rate currently stands at 70 per cent
  • Easing the financial access barrier for end-users has improved the uptake of home solar systems over the past decade. 
  • The Kenya National Electrification Strategy highlights the Kenyan government’s plans to scale up off-grid electrification with ambitions to establish two million new connections through standalone solar home systems by 2022. 

Bboxx Kenya is set to receive a US$14 million (Ksh1.6 billion) loan facility from SBM Bank Kenya aimed at connecting 470,000 Kenyan households to renewable energy sources.

GuarantCo, a fund backed by the governments of UK, Switzerland and Australia among others, is guaranteeing Ksh1.2 billion or 75 percent of the loans.

“SBM Bank is elated to spur the growth of the energy sector in Kenya through partnerships with like-minded entities such as Bboxx and GuarantCo,” SBM Bank Kenya’s deputy chief executive officer Jotham Mutoka …

Children using a smoky lamp to study. More than 50 per cent of Sub-Saharan population is without electricity. www.theexchange.africa

More than half of Sub-Saharan Africa’s population still does not have access to electricity according to a March 2020 report by the IMF. This means that the potential of the energy sector in Africa is immense since industry, education, healthcare and many other aspects of the economy cannot be fully exploited without power. 

In addition to inadequate power, those in Sub-Saharan Africa (SSA) have to pay on average nearly twice as much for electricity in comparison to consumers elsewhere in the world.  Even with power for the 50 per cent of the population, power shortages cost the continent an estimated 2 to 4 per cent of GDP a year.  …

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Nigeria is set to benefit from renewable energy financing programmes worth $4.5 million by the FSD Africa Investments (FSDAi).

FSD Africa

Established in 2012 and supported by UK aid, FSD Africa is a specialist development agency working to build and strengthen financial markets across sub-Saharan Africa.

FSD Africa is incorporated as a non-profit company limited by guarantee in Kenya. It is funded by UK aid from the UK government.

Poverty eradication

The organization works to reduce poverty through a ‘market systems development’ approach with an aim to address the structural, underlying causes of poverty by improving how financial market systems function.

The FSDAi, is investing $4.5 million in Nithio FI, a renewable energy financing intermediary focused on the Pay as You Go (PAYG) off-grid solar sector.

The intermediary provides renewable energy solutions for households and small businesses in Nigeria, Kenya and Uganda.

Renewable off-grid energy

Over the next five years, …

The Garissa solar farm. The farm is producing cleanand renewable energy for the Kenyan county. www.theexchange.africa

Africa’s post-Covid-19 growth recovery and economic prosperity are dependent on renewable energy which will be a critical driver. 

According to International Energy Agency data, scaling up Africa’s capacity to achieve universal access to energy by 2030 would require over US$100 billion per year. Of this amount, 40 per cent would be dedicated to solar, wind, and other low-carbon power generation projects. 

There are a number of initiatives meant to accelerate electrification on the continent among which is the African Development Bank (AfDB)’s New Deal on Energy for Africa which is a transformative partnership-based strategy that aims to increase access to energy for all Africans.…

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