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ENGIE Equatorial Increases Impact in Off-Grid Communities; Appoints New Chief Executive Officer (CEO)

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ENGIE Equatorial

ENGIE Equatorial is now EBITDA positive and set to implement a number of significant learnings to further improve economics

KAMPALA, Uganda, February 28, 2023/APO Group/ — 

One year after commissioning the Lolwe hybrid solar 600 kWp mini-grid and its Productive Hub, ENGIE Equatorial is proud to announce the results achieved so far: over 15,000 people now have access to clean electricity, purified water and agro-processing services. 700 businesses are provided with productive energy and will be supported with appliance financing from the partnership with EnerGrow and food waste is reduced thanks to the use of the ice and drying services provided by the Productive Hub.

Tackling the need for sustainable transport, ENGIE Equatorial has also put in place an e-mobility program with electric outboard engines for fishermen, e-motorcycles for taxis and a battery charging service on the island. The pilot has now generated evidence and data key to the development of the transport sector in Lake Victoria, with a potential of substituting 30,000 diesel boat engines.

After a successful initial phase of operations, characterised by substantial testing of technologies and commercial strategies, ENGIE Equatorial is now EBITDA positive and set to implement a number of significant learnings to further improve economics, including a re-powering of its storage component to drastically reduce diesel consumption, while further increasing service offering.

The Lolwe mini-grid’s distributed renewable technology and integrated business model has improved the lives and economic perspective of communities living far from the grid

It has been an exciting year, full of challenges and learnings, where we have finally proven our vision that de-centralised consumer facing service-integration is key to accelerating bankable universal energy access‘’ said Riccardo Ridolfi, CEO of Equatorial Power who was the author of the partnership with ENGIE Energy Access and has led ENGIE Equatorial from concept to reality.

As the company now looks to expand its operations to new sites and countries and continues to focus on optimizing operations, ENGIE Equatorial is happy to announce the appointment of Francesca Oliva as the new CEO from March 1st, 2023. Francesca brings a wealth of experience from her role as COO of Equatorial Power and from 15 years of work with and for the development of off-grid communities in Uganda and East Africa.

 I am humbled and proud to take this role, and I look forward to expanding the impact we are seeing today in Lolwe island by boosting our vision of integrated development and shared value creation’  states Francesca Oliva.

Going forward, the company is set to boost the number of people that will access clean water and electricity and to continue expanding the economic possibilities in the fish industry with the sale of dried fish to high quality markets. The company will keep on working also in the direction of promoting new impactful business opportunities to increase services that will be bundled with electricity sales.

Gillian-Alexandre Huart, CEO of ENGIE Energy Access sums up the impact of the project stating that, “the Lolwe mini-grid’s distributed renewable technology and integrated business model has improved the lives and economic perspective of communities living far from the grid. As a next step, we will replicate the Lolwe mini-grid 2.0 in 10 islands in Uganda and begin expansion to other countries.

Distributed by APO Group on behalf of Engie Energy Access.

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Ministers among hundreds of energy-sector leaders to attend AOW event

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Sinclair

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors”

CAPE TOWN, South Africa, October 4, 2024/APO Group/ — 

AOW: Investing in African Energy (https://AOWEnergy.com) – Africa’s leading oil, gas and energy event – has confirmed attendance for more than 80 ministers and senior officials, representing African governments, energy departments and regulators at next month’s event.

These influential stakeholders will be among the more than 1 600 senior delegates and industry leaders who will be attending the event to develop policy, share discoveries, secure investment, and shape Africa’s energy future.

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors.”

Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention

Among the officials and government ministers attending will be energy leaders from South Africa, Nigeria, Namibia, Cote d’Ivoire, Mozambique, DRC, Ghana, Kenya, Madagascar, Eswatini, Uganda, CAR, Guinea Conakry, Guinea Bissau, Ethiopia, The Gambia, Gabon, Malawi, Morocco, Zanzibar, Liberia, Senegal, Congo Brazzaville and Sierra Leone.

In addition, the event will feature high-level delegations from numerous national oil companies, as well as multilateral bodies including the African Union, (AU), African Energy Commission (AFREC), African Petroleum Producers’ Organization (APPO) and the Southern African Power Pool (SAPP).

AOW will see these energy leaders networking with C-suite executives and decision-makers from more than 760 top energy companies at daily networking events, to discuss insights, forge new relationships, and negotiate major energy deals.

“We are so excited to see the calibre of delegates at this year’s AOW event,” says Chief Executive Officer of Sankofa Events, Paul Sinclair. “Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention. The high-powered attendance proves AOW is a key platform to enable this intervention.”

Key themes to be discussed at this year’s AOW will be sustainable upstream development; expanding gas value chains; renewables and new energies; adoption of best-in-class technologies; and access to finance.

AOW: Investing in African Energy will culminate in a special anniversary party at Groot Constantia Vineyard to celebrate 30 years of the AOW event.

Distributed by APO Group on behalf of AOW: Investing in African Energy.

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Afreximbank approves US$20.8 million for Starlink Global’s cashew factory project in Lagos

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PAPSS

The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs

CAIRO, Egypt, October 4, 2024/APO Group/ — 

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has approved a US$20.8 million financing facility for Nigeria-based Starlink Global & Ideal Limited to enable the company construct and operate a 30,000-metric tonne per annum cashew processing factory in Lagos.

We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria

According to the facility agreement signed in on July 22, 2024, Afreximbank will provide the funds in two tranches with the first tranche of US$7.48M going toward capital expenditure for the construction of the factory and the second, totalling US$13.25M to be deployed as working capital for the operations of the factory.

The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs once the factory becomes operational. It is also expected to support about 40 small and medium-sized enterprises.

Commenting on the transaction, Mrs. Kanayo Awani, Executive Vice President, Intra Africa Trade and Export Development, Afreximbank, said that by supporting Starlink Global to establish a modern processing facility, Afreximbank is making it possible for Africa to add value to its agro-commodities, thereby facilitating exports and subsequent inflow of much-needed foreign exchange into the continent.

“We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria. It will contribute to value creation and to the development of the local community while also improving the lots of smallholder farmers and small business suppliers that will work with Starlink across the value chain,” Mrs. Awani added.

Distributed by APO Group on behalf of Afreximbank.

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Sonangol to Lead Decarbonized Oil & Gas (O&G) Development, Says Angolan National Oil Company (NOC) Head

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Sonangol

Participating in an on-stage interview at Angola Oil & Gas 2024, Sonangol CEO Sebastião Gaspar Martins emphasized that oil and gas remains a core focus for the national oil company

LUANDA, Angola, October 3, 2024/APO Group/ — 

Angola’s national oil company Sonangol reiterated its commitment to driving sustainable hydrocarbon development during the Angola Oil & Gas (AOG) conference this week. Speaking during an “In-Conversation with” session, Sonangol CEO Sebastião Gaspar Martins stated that the company will not abandon oil and gas, but rather advance decarbonized oil and gas development.

We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas

By investing in upstream oil and gas production while prioritizing low-carbon projects, Sonangol aims to boost national crude output, while diversifying and decarbonizing the industry. The NOC is focusing efforts on non-associated gas development, as well as alternative energy sources such as solar.

“We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas. Gas produced from Angola LNG will be used for the production of fertilizer and we are evaluating the utilization of gas in the south of the country, linking gas with steel industries. We also have a blue carbon project, linked to the reduction of carbon through the plantation of mangroves. We have one area in Luanda and have identified four additional areas for this,” stated Gaspar Martins.

Sonangol has undergone transformation in recent years: following the creation of the National Oil, Gas & Biofuels Agency (ANPG) in 2019, Sonangol transferred its role as national concessionaire and regulator. This transformation has aimed to make Sonangol more competitive and strengthen its capacity as an upstream operator. Concurrently, the government is partially privatizing the NOC, with privatization set to be complete in 2026. This process will enhance financial capacity, allowing Sonangol to drive new upstream projects forward.

“The transformation of Sonangol started several years ago, when we passed the regulatory, concessionaire role to the ANPG. At the time, we transferred almost 600 employees to the ANPG. After that, Sonangol underwent a restructuring program where we created five core business units from 36 different entities – starting with exploration and production. We want to go public, but we want to do it properly. So, we are currently going through all the processes to do this,” stated Gaspar Martins.

Distributed by APO Group on behalf of Energy Capital & Power.

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