Friday, 21 May

Dear <<First Name>>

Responsibility for reaching net zero was placed squarely - albeit not exclusively - on investors this week as the International Energy Agency (IEA) released a report warning that we will never reach 2050 targets unless they pull their support for fossil fuels.

For an organisation that has often been criticised for failing to denounce fossil fuels or sufficiently promote renewables in the past, the IEA’s declaration is as stark as it is targeted.

The IEA says that to achieve net zero, investment in new coal, oil and gas must be cut drastically from the USD 575 billion currently being spent on average each year to USD 110 billion in 2050. Any spend thereafter must be on maintaining production at existing plants only.

Far from simply serving as - one hopes - another nail in the coffin of the fossil fuel industry, the report, Net Zero by 2050 - A Roadmap for the Global Energy Sector, sets out over 400 milestones to achieve net zero and is well worth a read.

As the world’s first comprehensive energy roadmap, it makes the vital link between how government intervention to rapidly replace fossil fuels with clean energy solution can create millions of jobs and be a major boost for the global economy while giving us a fighting chance of staying under 1.5C. And like me, I am sure you are all for that.



Managing Director, Camco Clean Energy

Story of the week
SolarWorks! wins USD320,000 in grant funding from Power Africa initiative. This funding will enable 92 health clinics to receive solar and battery storage systems, which will have capacities of 55.2kWp and 220.8kWh respectively.

West Africa

Nigeria: 950kW solar system installed at bottling plant by Starsight Energy (ESI)
- The Big Bottling Company’s system will be the largest of its kind in Niger state and showcases the commercial and industrial market’s appetite for clean energy. 

Nigeria: Solad Group has connected its 10,000th small business to affordable power (ESI)
- The company is participating in the mini-grid component of Rural Electrification Agency’s Nigeria Electrification Project. Currently, Solad is an investor in, or operator of, 12 mini-grids across the country.

East Africa

DRC: National utility SNEL and mining group sign Memorandum of Understanding to deliver clean power (ESI)
- The MOU undertakes to deliver reliable, clean and renewable hydropower by upgrading a major turbine in the existing Inga II hydropower plant.

Kenya: World’s first industrial-scale renewable power-to-fertiliser plant to be built (ESI)
- Italian chemicals company Maire Tecnimont has announced that its subsidiaries have begun work on the unprecedented plant, which is expected to reduce emissions by approximately 100,000 tCO2 per annum.

Kenya: The Kenya Electricity Generating Company aims to raise USD1.95 billion (Engineering News)
- The funding would be used to both build new and upgrade existing plants in a bid to double its power output.

Southern Africa

Mozambique: Power Africa awards SolarWorks! grant to solarise 92 health clinics (Afrik21)
- This USAID led initiative will provide USD320,000 in funding for clinics located in the Sofala province where, at present, 90% of health facilities are without regular electricity access. As a result, this work is expected to benefit up to 138,000 people.

South Africa: Energy efficiency must be scaled up to to unlock opportunities (Engineering News)
- Although significant prospects exist in the country, uptake is low. Therefore, stakeholders are now engaging to improve opportunities and unlock additional investment.

South Africa: Johannesburg aims to meet 35% of its energy needs from renewable sources by 2030 (Engineering News)
- The country’s financial hub is seeking to reduce its reliance on the national utility Eskom, whilst simultaneously diversifying its energy mix.

Africa - general

General: Investment in off-grid power is vital to electrify the continent (Investment Monitor)
- Distributed power was supposed to solve the country’s electricity deficit, but more investment is required to make up this shortfall.

Rest of World

Solar: IEA forecasts 630GW of new solar needed annually to reach net zero in landmark report (PV-Tech) / (Report)
- The report written to inform global leaders ahead of COP26 states 88% of the global power mix needs to be renewable by 2050 to help neutralise carbon emissions.


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