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German Chancellor Scholz’s Africa Tour Represents Critical Step Towards Achieving Energy Security, Says AEC

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DGAP-Information: African Power Chamber / Key phrase(s): Miscellaneous
African Power Chamber: German Chancellor Scholz’s Africa Tour Represents Vital Step In direction of Reaching Power Safety, Says AEC
24.05.2022 / 20:45
The issuer is solely chargeable for the content material of this announcement.

German Chancellor Scholz’s Africa Tour Represents Vital Step In direction of Reaching Power Safety, Says AEC
Because the voice of the African power sector, the African Power Chamber strongly advocates for German-Africa partnerships, recognizing the position Germany will play in advancing power safety throughout the continent.

With over 620 trillion cubic of pure fuel reserves, 125.3 billion barrels of oil reserves, 16.4 billion quick tons of coal and a few of the finest potential for renewable power globally, Africa’s power panorama is various, holding the potential to remodel the continent’s socioeconomic panorama. But over 600 million folks lack entry to electrical energy and 900 million lack entry to wash cooking options, creating an ironic state of affairs. Largely attributed to lack of satisfactory funding in addition to power transition tendencies calling for the tip of fossil fuels, pressing motion is required if any progress in making power poverty historical past by 2030 is to be made. That is the very motive the African Power Chamber (AEC) (www.EnergyChamber.org), because the voice of the African power sector, strongly advocates for an built-in method to power safety in Africa, one through which each useful resource is used.

Getting into this image, Germany’s newly elected Chancellor, Olaf Scholz, is conducting a three-day Africa tour. With a mandate to discover new power agreements because the European nation seems at breaking ties with Russia, Chancellor Scholz is targeted on forging new fuel and hydrogen offers with rising markets throughout the continent. The primary vacation spot in his three-country tour was Senegal, the place the Chancellor met with H.E. President Macky Sall to debate future fuel offers and the opportunity of an MSGBC-Europe fuel pipeline. Acknowledged as a “matter price pursuing intensively” by Chancellor Scholz, the seemingly fuel deal is pushed by large-scale MSGBC developments together with the 15 trillion cubic ft (tcf) Higher Tortue Ahmeyim mission and 20 tcf Yakaar-Teranga improvement. MSGBC fuel would possibly simply be the answer to assembly each Europe and Africa’s power wants, a key characteristic of the go to.

On the second leg of the journey, Chancellor Scholz traveled to Niger to debate navy and monetary cooperation renewals. Nevertheless, the journey has additionally opened dialogue round power partnerships. Germany already has a presence within the nation with the German-based Rising Power Company signing an settlement with the federal government for the exploration and improvement of economic inexperienced hydrogen. Now, new partnerships and offers are seemingly, with Germany taking part in a crucial position in driving power safety and hydrogen improvement in Niger.

“Germany represents the perfect companion for international locations equivalent to South Africa and Niger who’re actively searching for the enlargement and improvement of their hydrogen industries. Already there was vital progress to drive hydrogen improvement on the again of German partnerships however extra can and should be carried out. Africa wants modern and built-in options whether it is to make power poverty historical past by 2030. By leveraging every pure useful resource on the continent’s disposal, Africa may have the prospect to completely develop. You will need to have a balanced power combine and that’s what the Chamber has and can proceed to advocate for,” states NJ Ayuk, Govt Chairman of the AEC.

Chancellor Scholz is at the moment in South Africa – the place power safety represents a central level of concern – and is assembly with H.E. President Cyril Ramaphosa,. At present, the southern African nation is fighting crippling energy shortages owing to growing older energy stations, lack of upkeep and infrastructure sabotage. Regardless of holding vital pure fuel and hydrogen potential, loadshedding has turn out to be a every day prevalence and is just anticipated to worsen except proactive measures are taken to scale-up era capability. With a 4,000 MW energy shortfall, South Africa represents the right instance as to why African international locations have to make the most of every power useful resource of their attain.

“You can not merely state ‘no extra coal.’ In the identical method Europe has turned to coal with the onset of fuel provide disruptions, Africa must be using its vital coal deposits to drive power safety. South Africa wants coal, pure fuel, nuclear energy and hydrogen to drive industrialization and socioeconomic development. The nation is being crippled by energy deficiencies and if coal will help mitigate these challenges and elevate hundreds of thousands out of power poverty, then coal must be used. Chancellor Scholz’ journey to Africa marks a major step in the direction of bettering African power dialogue, driving funding and improvement in key sectors equivalent to hydrogen and pure fuel whereas forging new Africa-Europe power partnerships. South Africa, Niger and Senegal should capitalize on this chance and make a robust case for European funding in 2022,” states NJ Ayuk, Govt Chairman of the AEC.

Obtain picture (1): https://bit.ly/38k4FKw
Obtain picture (2): https://bit.ly/3LKrAMH

Distributed by APO Group on behalf of African Power Chamber.

24.05.2022 Dissemination of a Company Information, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely chargeable for the content material of this announcement.

The DGAP Distribution Providers embody Regulatory Bulletins, Monetary/Company Information and Press Releases.
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