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Vivo Energy to invest over $550 mln in South Africa, minister says

Vivo Energy to invest over $550 mln in South Africa, minister says

VIVO Energy, owned by global commodities trader Vitol, will invest an initial 10 billion rand ($550.79 million) in its South African operations following its merger with Engen, South Africa's trade minister Ebrahim Patel said. The investment is part of a range of public interest and competition commitments, designed to prevent job losses and continue supply contracts with local refineries, that domestic regulators sought when the merger was considered. "The company (Vivo) has committed to a minimum of about 10 billion rands over the next five years to be invested in areas like green energy, infrastructure and the upgrading of its…
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Africa’s green energy potential lures crypto miners

Africa’s green energy potential lures crypto miners

NOMADIC crypto miners in search of affordable energy are eyeing Africa, with Ethiopia emerging as a prime location for blockchain mining. This pivot towards the continent is driven by its abundant renewable sources including solar, wind, and hydroelectric power. Ethiopia, with its colossal hydroelectric dam, has seen an increased inflow of bitcoin miners especially from China, who are dodging Beijing's tight controls on crypto activities. China has cracked down on the activity due to its high energy requirements. Bloomberg reported that "19 of 21 electricity-supply deals for mining struck so far are with Chinese companies." China has become an important…
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Senegal seals $2.7 billion green energy deal with richer nations

Senegal seals $2.7 billion green energy deal with richer nations

SENEGAL struck a deal with wealthier countries that will see it get an initial 2.5 billion euros ($2.74 billion) in finance to develop renewable energy and speed up its transition to a low-carbon economy. The Senegal Just Energy Transition Partnership (JETP), backed by France, Germany, the European Union, the United Kingdom and Canada, comes as richer countries are urged to do more to help poorer peers in the fight against climate change. The money will be used to help Senegal achieve its target of 40% of installed capacity from renewable energies by 2030, and a draft investment plan will be…
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Ukraine war: Can Africa become Europe’s next gas station?

Ukraine war: Can Africa become Europe’s next gas station?

SETH ONYANGO, BIRD STORY AGENCY EXPERTS expect Europe to ramp up investments into Africa’s natural gas sector to shock-absorb its economy from the unfolding crisis in Ukraine and the potential for energy supplies disruption in the future. In January, the European Union drafted a proposal to classify natural gas projects as “green energy” investments, potentially allowing the block to invest in the sector and at the same time contribute to what African nations are increasingly calling a "just transition" in the energy sector as the continent taps into gas and uses the proceeds to build on its huge green energy…
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