The European Union (EU) is expanding the sum of £32 million as part of the ongoing effort to boost the energy sector in Nigeria and neighbouring West African countries. The AGoSE-AO program, which seeks to Improve governance of the energy sector in West Africa, was commissioned through the 11th European Development Funds and is to […]Read More
With the global energy crisis as a catalyst, solar PV and wind are set to lead the largest annual increase in new renewable capacity ever, a new report by the International Energy Agency has shown. Global additions of renewable power capacity are expected to jump by a third this year as growing policy momentum, higher […]Read More
Today, the International Renewable Energy Agency (IRENA), in collaboration with the Government of Barbados and other key stakeholders, launched a conference aimed at accelerating energy transition investments in the Caribbean. The event, inaugurated by IRENA Director-General Francesco La Camera and Barbados Senior Minister and Minister of Foreign Affairs and Foreign Trade Kerrie Symmond, gathers over […]Read More
Global investment in clean energy is on course to rise to $1.7 trillion in 2023, with solar set to eclipse oil production for the first time, according to a new report by the International Energy Agency (IEA). The Agency said that investment in clean energy technologies is significantly outpacing spending on fossil fuels as affordability […]Read More
Goddy Jedy-Agba, minister of state for power has called for reforms in the Rural Electrification Agency (REA), urging the Federal Government to support the agency because of its enormous potential. According to the minister, the REA has performed well, having impacted several rural communities in all six geo-political zones. Jedy-Agba, who expressed confidence in the […]Read More
Asia-Pacific region leads demand for floating solar The global floating solar market is expected to pass the six-gigawatt (GW) threshold by 2031, as PV developers struggle to meet growing solar demand and look to alternate development technologies, Wood Mackenzie said in a release. “The global solar industry, including PV developers, continue to battle limited land […]Read More
The Board of Directors of the African Development Bank Group has approved a Partial Credit Guarantee of $345 million equivalent in Renminbi to Egypt to increase access to the Panda bond market to finance green and social projects. According to the statement, the Bank Group’s partial credit guarantee will allow Egypt to raise the equivalent […]Read More
The African Development Bank is set to roll out the first green finance facilities in two public financial institutions in Benin and Côte d’Ivoire as part of its ground-breaking African Green Bank initiative. The Bank said in a release that the host institutions are La Caisse des Dépôts et Consignations du Bénin (CDC Benin) and […]Read More
Renewable energies hold great promise for Africa. As more operators invest in the continent’s clean energy and energy transition goal, we will undoubtedly see continued growth. At the African Energy Chamber (AEC), we are excited about the possibilities before us. And yet, our enthusiasm is tempered by a bit of reality: Africa’s current renewable energy […]Read More
Progress in reducing gas flaring resumed in 2022, with gas flared worldwide falling by 5 billion cubic meters (bcm) to 139 bcm, its lowest level since 2010, according to new satellite data compiled by the World Bank’s Global Gas Flaring Reduction Partnership (GGFR). “After a decade of stalled progress, global gas flaring volumes fell in […]Read More
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