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Simon Nicholas
African nations must learn from developing Asia's expensive fossil-fuelled power problems
Ghana is set to become the first Sub-Saharan nation to import LNG as the government continues its attempts to renegotiate unaffordable power generation contracts. LNG is being pushed in emerging nations as a clean transition fuel that is “critical” for development. It is neither of these things. In fact, the need for expensive, associated LNG […]
IEEFA
Utilities Middle East: Masdar and the Government of Ethiopia, are exploring the development of solar power projects with a total capacity of 500 megawatts (MW), along with the related grid infrastructure across Ethiopia. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Ahmed Shide, Ethiopia’s Minister of Finance, signed a Memorandum of Understanding (MoU) […]
IEEFA
Thomson Reuters Foundation: Wind could power Africa’s energy demands 250 times over and create jobs lost in the move away from fossil fuels but the continent has only tapped into 0.01% of its potential, wind experts said on Thursday. Wind projects are growing fast, with 724MW of new capacity added in 2020, bringing the total […]
IEEFA
African Review: InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), and its project partner, JCM Power (JCM), have announced their commitment to finance construction of the 20MWAC Golomoti Solar project with a 5MW/10MWh lithium-ion battery energy storage system (BESS) in Malawi. Golomoti Solar will be the first commercial-scale solar photovoltaic plant in Malawi […]
IEEFA
S&P Global Market Intelligence ($): Engie SA will close its last coal plants in Europe, Africa and Latin America by 2027, part of the company’s ongoing quest to simplify its business and put a stronger focus on renewable energy. The French utility’s new CEO, Catherine MacGregor, said Feb. 26 that Engie would get rid of […]
Tom Sanzillo and Guest Commentary: Gerard Kreeft
After 25 years of deepwater drilling, African nation sinks $76B deeper in debt
The South American country of Guyana, the latest nation to have discovered commercial reserves of oil and gas, hopes to raise its standard of living, cut its debt, eliminate its deficit and create a sovereign wealth fund. It is in a weak position to accomplish these goals. Consider the example of Angola, which has hosted […]
Simon Nicholas
The security situation has worsened, and developers face major challenges amid growing investor ESG concerns
French oil and gas company Total is facing increased security concerns at its US$20 billion Mozambique LNG project. The company has been removing staff from the project site as a three-year old Islamist militant insurgency in the northern province of Cabo Delgado escalates further. Total’s Mozambique LNG is one of two projects located on the […]
IEEFA
Offshore Engineer: Norwegian oil and gas company Equinor has decided to write down the book value of its Tanzania LNG project (TLNG) on the company’s balance sheet by $982 million. The company said Friday that while progress has been made in recent years on the commercial framework for TLNG, overall project economics have not yet […]
IEEFA
Recharge: Amazon led the field of businesses buying green power last year as global corporate renewable energy deals hit a record 23.7GW despite the Covid pandemic, said latest annual figures from BloombergNEF. The web shopping giant signed 5.1GW of wind and solar corporate power purchase agreements (PPAs) in 2020, passing Google as the world’s largest […]
IEEFA
Bloomberg: Daystar Power, a Nigerian solar energy provider, has raised $38 million with the support of Investment Fund for Developing Countries and Morgan Stanley Investment Management to expand solar access across West Africa. Lagos-based Daystar plans to replace “unreliable grid or too expensive, polluting diesel generators,” with clean reliable power, Jasper Graf von Hardenberg, the […]
IEEFA: 50 new green hydrogen projects show Europe, Australia, Asia are lead players but US$75 billion in costs and government inaction could create delays
The green hydrogen industry needs more government backing to reach demand goals24 August 2020 (IEEFA): The renewable rich green hydrogen industry is accelerating with 50 new projects announced in the last year including five just last month, but a new report by the Institute for Energy Economics and Financial Analysis (IEEFA) finds the pace is not fast enough to meet global energy demand, with massive capital […]