African Energy Transition

Welcome to Baseload Power, a weekly round-up of global energy news. This week's edition focuses on the African Energy Transition.

Fresh off the heels of another successful "Energy Week", the African Energy Chamber published their State of African Energy Report. The report is a comprehensive overview of challenges and opportunities facing the African Energy Transition and combating energy poverty on the continent. The report is viewable here.

2. In renewable news: Global mining company,?Anglo American, and clean energy firm, EDF Renewables, have vowed to expand South Africa’s renewable energy portfolio to support the resilience of the country’s national grid while accelerating its decarbonization.

To do so, Anglo American and EDF Renewables have formed a joint venture company,?Envusa Energy, which plans to deploy 600 MW of wind and solar energy capacity during the first stages of operation as early as 2023. Read the whole story at Energy Capital & Power here.

3. Meanwhile In South Africa, the government takes on Eskom’s debts in latest rescue plan for power utility. "Ratings agency Moody’s gave a positive response after the government said it would assume up to two-thirds of troubled Eskom’s debts, but several bailouts have failed in the past and there are doubts about the latest plan’s likelihood of success in meeting the ultimate goal of creating a sustainable utility." More here.

4. And at COP27: Southern Africa countries team up to seek energy project funding.

"Southern Africa leaders have made a joint appeal at COP27 for nearly $20bn from investors to complete electricity transmission interconnectors and fund new renewable energy projects, in part to increase energy capacity in the Southern African Power Pool (SAPP)." Read more here.

5. Financing imperatives for Africa’s clean energy transition remains a major roadblock for clean energy develpoment.

"Finding cash to help African countries develop renewable energy for domestic needs and benefit from export opportunities is one of the biggest challenges over the long term..." reports GreenBiz.

And finally:

6. Natural gas is not an ideological issue, it’s a pragmatic one,’ says AfDB’s Adesina

"The president of the African Development Bank shares his views on investment opportunities, financial management and the growing threat of climate insecurity."

Read the whole story at African Business.

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