Connect with us

Energy

RES4Africa, Enel Green Power and the European Investment Bank Encourage African Youth to Find Green Energy Solutions to Community Challenges

Published

on

European Investment Bank - Investors King

The second Micro-Grid Academy Young Talent of the Year Award today acknowledged energy innovation from across Africa that can accelerate the green transition and improve economic opportunities.

Backed by the RES4Africa Foundation, Enel Green Power and the European Investment Bank the yearly competition encourages young energy entrepreneurs from across the continent to develop projects that expand enegy access, enable greater use of renewable eneryg and accelerate sustainability.

Young finalists from across West, East and Southern Africa presented their innovative ideas to expert judges from the RES4Africa Foundation, Enel Green Power and the European Investment Bank.

The 2021 edition of the Micro-Grid Academy Young Talent of the Year Award has arrived to its final steps. Today, the eight young African innovators selected as finalists out of nearly 50 applicants presented to the international public their disruptive projects for the first time. The presentation took place during the event Public Competition for the MGA Young Talent of the Year 2021 finalists, and represents a preparatory step for the announcement of the three winners, that will be held the 28th of September in the framework of the Precop26.

The three entities strongly believe that renewables and innovation will be the response to the climate changes and energy deficit that Africa faces. In this deeply needed path towards its just energy transition, the continent can and must rely on one of its most precious resources : its youth. With this joint initiative, RES4Africa, Enel Green Power and the European Investment Bank put together their efforts to support those young people from all Africa countries who are committed and motivate to create a real change in their communities.

These are the finalists identified by the selection committee, who publicly presented their project ideas and among which there are the three future winners:

• Adekoyejo Ifeoluwapo Kuye, 26 years old from Nigeria, introduced a project focused on a sustainable cold chain for food;

• Alex Makalliwa, 31 from Kenya, presented his initiative of electrical tricycles for heavy loads in Nairobi;

• Benson Kibiti, 34 also from Kenya, performed an overview on an PV-powered trolley for heating up food and providing power;

• Lucas Filipe Tamele Junior, 24 from Mozambique, focused on waste management, biofertilizers and biogas;

• Matjaka Ketsi from Lesotho is 28, and presented an initiative aiming at building solar-powered Learning Centres for rural communities;

• Shedrack Charles Mkwepu is instead 26 and comes from Tanzania: he designed a system that allows farmers to control irrigation and other soil parametres from a mobile phone;

• Carol Ofafa, 32 from Kenya, proposed the installation of a PV system for health facilities;

• Kumbuso Joshua Nyoni, 34 from Zambia, envision an integrated Water-Food-Energy model for PV power and a water pumping system.

The webinar benefitted from the presence of Salvatore Bernabei, President of RES4Africa and Head of Enel Global Power Generation, as well as of Maria Shaw Barragan, Director of Lending in Africa, Caribbean, Pacific, Asia and Latin America, European Investment Bank. They introduced the objectives of the MGA Young Talent of the Year Award, while reflecting upon youth’s impact on the just energy transition.

Moreover, after the finalists’ presentation, a final feedback was provided, with closing remarks, by Roberto Vigotti, Secretary General at RES4Africa Foundation, Carmelo Cocuzza, Head of Corporates Unit, European Investment Bank, and Silvia Piana, Head of Regulatory Affairs Africa, Asia and Australia Area at Enel Green Power.

“The ability to generate innovation will be a fundamental driver to pave the way for a transformation that goes well beyond the dynamic of the Energy sector” commented Salvatore Bernabei “We are here give voice and visibility to young talents, innovators, entrepreneurs promoting the best innovative ideas to stimulate socio-economic progress from within and free the creativity of the younger generations in designing the Africa of tomorrow”.

Increasing energy access and enabling more sustainable energy use is crucial to unlock opportunities for communities across Africa. The finalists in this year’s Micro-Grid Academy Young Talent Awards all demonstrate inspirational and innovative thinking that combined world-class energy expertise with unparalleled understanding of local energy needs and all deserve to win. The European Investment Bank is pleased to join RES4Africa and Enel Green Power to support talented young innovators and encourage them to become green energy leaders of the future.” said Maria Shaw-Barragan, European Investment Bank Director for Global Partners.

RES4Africa Foundation (Renewable Energy Solutions for Africa) envisions the sustainable transformation of Africa’s electricity systems to ensure reliable and affordable electricity access for all, enabling the continent to achieve its full, resilient, inclusive and sustainable development. The Foundation’s mission is to create favourable conditions for scaling up investments in clean energy technologies to accelerate the continent’s just energy transition and transformation.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Continue Reading
Comments

Energy

UAE Commits $4.5 Billion for African Clean Energy Initiatives at UN Climate Summit

Published

on

Ghurair

The United Arab Emirates, as the host of this year’s United Nations climate summit, has made a significant pledge of $4.5 billion to support clean-energy projects in African nations.

This substantial commitment is a collaborative effort involving key entities such as Abu Dhabi’s clean-energy producer Masdar, Abu Dhabi Fund for Development, Etihad Credit Insurance, the nation’s export credit agency, and AMEA Power, a Dubai-based renewable-energy company.

The announcement was made by the COP28 Presidency in an official statement.

Africa faces a critical need for nearly a tenfold increase in climate adaptation funding, amounting to $100 billion annually, as emphasized by the Global Center on Adaptation. This financial boost is essential for enhancing infrastructure and protecting agriculture from the adverse impacts of climate change.

Although the continent contributes only about 4% of global greenhouse gas emissions, its nations are disproportionately affected by climate change.

“The initiative will prioritize investments in countries across Africa with clear transition strategies, enhanced regulatory frameworks, and a master plan for developing grid infrastructure,” stated COP28 President-Designate Sultan Al Jaber at the inaugural Africa Climate Summit on Tuesday.

Al Jaber’s commitment to invest in the African continent precedes the UN climate summit that he is overseeing. As the chief executive officer of Abu Dhabi National Oil Co., one of the world’s largest oil and gas producers, his involvement has sparked criticism from climate activists.

Over 400 environmental groups have voiced concerns in a letter to the UN secretary-general, expressing reservations about how Al Jaber’s work may affect the legitimacy and effectiveness of the summit.

The African Development Bank’s Africa50 investment platform will serve as a strategic partner in identifying initial projects, according to the statement.

Here are the funding details:

  • The Abu Dhabi Fund for Development will provide $1 billion in financial assistance.
  • Etihad Credit Insurance will offer $500 million in credit insurance to mitigate risk and attract private capital.
  • Masdar commits $2 billion in equity and will facilitate an additional $8 billion in project finance, aimed at delivering 10 gigawatts of clean energy capacity in Africa by 2030.
  • AMEA Power will contribute to funding 5 gigawatts of renewable energy capacity in the continent by 2030, mobilizing $5 billion, with $1 billion in equity investments and $4 billion from project finance.

This generous funding initiative reflects the United Arab Emirates’ dedication to addressing climate change and supporting sustainable development in Africa, marking a significant step toward a greener and more resilient future for the continent.

Continue Reading

Energy

MAN Raises Alarm Over Potential Displacement of Local Meter Manufacturers in Power Sector

The association explained that the stiff financial requirements and technical specifications listed in the advertised material of the Transmission Company of Nigeria (TCN) are heavily biased against domestic manufacturers

Published

on

Following the implementation of the NMMP Phase IIT, a World Bank-funded initiative launched to supply 1.2 million smart meters, the Manufacturers Association of Nigeria (MAN) has cautioned the government on excluding local meter manufacturers and assemblers within the downstream power sector from the initiative.

This was disclosed in a statement made available to the media by MAN on Sunday.

The association explained that the stiff financial requirements and technical specifications listed in the advertised material of the Transmission Company of Nigeria (TCN) are heavily biased against domestic manufacturers as local manufacturers would struggle to meet those stated requirements.

This, MAN said is against contradicted the Central Bank of Nigeria’s guidelines for the National Mass Metering Programme.

MAN emphasizes that local manufacturers have made substantial investments in expanding their manufacturing capacities, as per the Federal Government’s backward integration policy and the introduction of the NMMP intervention.

They have also made efforts to train and nurture a highly skilled workforce capable of meeting the power sector’s demands, as envisioned in the Nigeria Electricity Supply Industry.

In the statement MAN warns that this situation could potentially lead to a replication of the distressing scenario witnessed in 2012 when local manufacturers were sidelined during the meter supply, resulting in the delivery of substandard meters by foreign companies awarded the contract, which were subsequently removed from the network.

Speaking on employment opportunity, MAN said “The position of the TCN that installation will provide employment opportunities to Nigerians will completely pale into insignificance when compared with a ratio of 1 to 10 jobs that will be created if local manufacturers are included in the scheme.”

Similarly, MAN argues that the intentional denial of opportunities for local manufacturers fails to acknowledge their impressive performance in the sector, including the successful deployment and installation of a total of 611,231 energy meters across the country between January 2019 and January 31, 2021.

The potential displacement of local meter manufacturers and assemblers in Nigeria’s power sector raises serious concerns about the future of the industry.

MAN calls on the government to reconsider the advertised financial requirements and technical specifications, ensuring that they align with the Central Bank of Nigeria’s guidelines.

By including local manufacturers in the supply of smart energy meters, the power sector can benefit from high-quality products while stimulating economic growth and generating a substantial number of job opportunities for the Nigerian workforce.

Continue Reading

Energy

Power Consumers Protest Export of Electricity Worth N23.13bn Amidst Widespread Darkness in Nigeria

Power Consumers Demand Prioritization of Domestic Needs as Nigeria Exports Electricity Worth N23.13bn to Neighboring Countries Despite Widespread Darkness.

Published

on

Electricity - Investors King

Power consumers in Nigeria have voiced their strong opposition to the export of approximately N23.13 billion worth of electricity to neighboring countries in 2022.

This development comes at a time when many Nigerian communities are grappling with persistent power outages and widespread darkness.

According to data obtained from the Nigerian Electricity Regulatory Commission (NERC) in Abuja, Nigeria continued its export of electricity to the Republics of Benin and Niger as well as certain special categories of consumers.

The total value of electricity exported from Nigeria in 2022 amounted to $50.98 million (equivalent to N23.5 billion at the official exchange rate of N461/$). However, international customers only remitted $32.69 million, approximately N15.1 billion, indicating a shortfall of $18.29 million or N8.4 billion during the period.

Also, special customers failed to remit N792.6 million in the same period, as revealed by figures from the power sector regulator.

The export of electricity despite the dire situation of power supply within the country has drawn significant criticism from electricity consumers.

The Nigeria Electricity Consumer Advocacy Network’s National Secretary, Uket Obonga, expressed dismay at the decision, stating that Nigeria has one of the highest numbers of citizens without access to electricity in the world.

He compared Nigeria’s situation to that of China, highlighting that while China has approximately 68 million citizens without electricity out of a population of 1.4 to 1.5 billion, Nigeria has a staggering 90 million people without access to electricity.

Obonga questioned the economic rationale behind exporting such a scarce commodity that the Nigerian people desperately need. He criticized the decision-makers behind this move and their apparent disregard for the plight of their own citizens.

The export of electricity, in the face of widespread darkness and a lack of access to electricity, has left many perplexed and wondering about the reasoning behind such a decision.

The NERC provided updates on the remittances made by special/cross-border customers in the fourth quarter of 2022.

Obonga argued that the export of electricity was unjustified, particularly considering the ability of Nigerians to pay for the commodity.

He pointed out that the joint monthly revenues from two or three power distribution companies exceeded the N23 billion earned from international customers throughout the entire year. Obonga suggested that corruption might be at play and urged the incoming government of President Bola Tinubu to thoroughly investigate this issue.

While officials at the NERC defended the export of electricity, citing obligations and agreements, the discontent among Nigerian power consumers remains palpable.

Critics argue that the export of electricity should not take precedence over meeting the domestic energy needs of the Nigerian people, especially when millions still lack access to reliable power supply.

It is imperative for the government and relevant stakeholders to address the concerns raised by power consumers and find a balance between fulfilling international commitments and ensuring adequate and reliable power supply within Nigeria.

The future of the country’s energy sector hinges on striking the right equilibrium that prioritizes the needs and well-being of the Nigerian people while fulfilling international obligations in a responsible and sustainable manner.

Continue Reading
Advertisement
Advertisement




Advertisement
Advertisement
Advertisement

Trending