Africa’s biggest investor touts new energy plan, including shale
The Public Investment Corp. plans to lead investment in energy projects in Africa by buying into South African shale gas projects and helping to fund what could be the world’s biggest power generation complex in Democratic Republic of Congo.
The continent’s largest money manager, which is based in the South African capital of Pretoria and has 1.6 trillion rand ($152 billion) under management, will buy stakes in energy companies operating in Africa, its chief executive officer, Elias Masilela, 49, said in an April 1 interview in Johannesburg.
“We have taken the decision that we will play the lead in the energy space,” Masilela said. “Energy is one of the biggest barriers for the continent and if we don’t deal with it, it is going to deal with us.”
Africa’s two biggest economies, Nigeria and South Africa, are among countries on the continent suffering power shortages that are restraining economic growth. The PIC’s focus on energy comes as South Africa explores developing shale projects in its arid Karoo area and attempts to develop the Inga hydropower complex on the Congo River are revived.
Read more: Africa’s biggest investor touts new energy plan, including shale
Building Strong, Sustainable Energy Partnerships With Africa
U.S. Department of Energy official Daniel Poneman visits Mozambique and South Africa to highlight the importance of building strong energy partnerships.
On his trip to Africa in summer 2013, President Obama announced the Power Africa initiative, which aims to double access to power in sub-Saharan Africa. In March, U.S. Deputy Secretary of Energy Daniel Poneman traveled to South Africa and Mozambique to highlight the importance of building strong partnerships to work toward a more sustainable and prosperous energy future for both the United States and Africa.
Poneman met with energy sector leaders and discussed ways to unlock the potential of energy resources and move toward a low-carbon and more resilient energy economy, according to a March 31 blog post on the Energy Department website by Special Advisor Desiree Pipkins.
Shown above, Poneman joined South African energy sector officials to cut the ribbon at the POWER-GEN Africa 2014 exhibition in Cape Town, South Africa.
Read more: Building Strong, Sustainable Energy Partnerships With Africa
Africa urged to consider solar energy
The Minister of Power, Prof. Chinedu Nebo, has suggested that African countries adopted solar energy as major source of power generation.
Nebo made the call at the Ministerial Consultation on Energy in Africa at the ongoing African Union and Ministers of Economy and Finance Summit in Abuja on Friday.
He said Africa had huge mineral resources such as gas, wind, coal, among others, in abundance for energy development.
He added that natural solar energy, which was in abundance in the region, should not be neglected.
“Solar power can give us 10 times or more to the other resources we already have.
“I don’t believe that solar generated energy is too expensive. In the next couple of years, it will get parity with gas and coal.
“The only problem is with storage. But the flood of solar in the region cannot be stopped’’, he said.
Seven Energy To Supply 10 Nigerian Power Plants With Gas
One of Nigeria’s foremost gas processing firms, Seven Energy, has initiated negotiations with 10 power plants over the possibility of supplying gas, in a move which would significantly boost current generation output.
A gas sale agreement has already been established with Akwa Ibom Power Plant, while Seven Energy is in the process of developing infrastructure to extend supply to neighbouring cities including Calabar, Port Harcourt, and Aba.
To this effect, sub-Saharan Africa’s largest gas processing plant has been installed by the company, and a 200-kilometers gas pipeline has also been constructed. The processing plant has the ability to “process 220 million standard cubic feet of gas per day,” Nigerian daily Business Day reported.
According to Seven Energy’s MD, Philip Ihenacho, the firm wants to eliminate redundancy in gas supply, enhancing the efficiency of power plants in the country in the process. Most power plants in Nigeria are gas-driven, given its abundant reserves.
Read more: Seven Energy To Supply 10 Nigerian Power Plants With Gas
