Energy – Page 6 – News Stand

09 May

Paladin secures seven offtakes for uranium

info_e12wt4csEnergy, Observer Money

CHAMWE KAIRA Paladin Energy, which owns the Langer Heinrich Mine has secured seven offtakes for its uranium production, the company announced this week. The company said strong demand for nuclear energy is driven by global decarbonisation worldwide. Paladin notes that nuclear energy is the second largest source of global clean energy with almost zero carbon emissions. It also noted that Chinese demand for nuclear energy is expected to grow from 15% to 33% of global requirements by 2040. Paladin said 19 million pound of uranium oxide production is contracted to the year 2030 representing 48% of volume. The company also…

09 May

Installed renewable capacity stands at 30%

info_e12wt4csEnergy, Observer Money

CHAMWE KAIRA Namibia has excellent renewable energy resources, however, installed renewable capacity in the country is just over 30% of total generation, the World Bank has estimated. The bank now wants to help Namibia to strengthen the power grid, which it says is critical to enabling the integration of more variable renewable energy sources in the system. The World Bank is now planning to help Namibia to minimize outage risks, support load growth, and unlock future opportunities for power trade in the Southern African Power Pool. The bank said the US$138,5 million project funding by IBRD Fund for Innovative Global…

07 May

Alweendo denies promoting foreign investors above Namibians

info_e12wt4csEnergy, Main

Martin Endjala The Minister of Mines and Energy, Tom Alweendo, on Tuesday denounced the notion that he is promoting foreign investors above Namibians. He said this during a meeting with the Namibia Local Business Association (NALOBA). “I am not promoting foreign investors above Namibians, as this is the notion being spread around. What I am saying is that as Namibians, we need to compete amongst each other and not against the likes of Shell or TotalEnergy so that we develop the businesses to take over the industry. The notion that I do not want Namibians to participate is totally wrong.…

05 Apr

Oil and Gas puts Namibia on the brink of economic boom

info_e12wt4csEnergy, National NewsOil and Gas puts Namibia on the brink of economic boom

Terblanché Bank of Namibia Governor Johannes !Gawaxab has indicated that the recent oil and gas discoveries off the coast of Namibia hold the transformative potential to double the nation’s Gross Domestic Product (GDP) and substantially increase its economic output. central bank’s governor predicted amid a period where exploration activities have already marked a positive influence on the economy, contributing an estimated growth of 0.4 percent annually between 2021 and 2023. !Gawaxab said that as exploration ventures intensify, these contributions are anticipated to soar, ushering in a new era of prosperity for Namibia. He emphasized the potential for currency appreciation as…

03 Apr

Namibia to host inaugural Global African Hydrogen Summit

info_e12wt4csEnergy, National NewsNamibia to host inaugural Global African Hydrogen Summit

Erasmus Shalihaxwe Namibia is set to host the inaugural Global African Hydrogen Summit (GAH2S) in Windhoek, from 3 - 5 September 2024. Namibia Investment Promotion and Development Board Senior Manager for Marketing, Branding & Communications Catherine Shipushu announced this today in Windhoek.She said the summit will be hosted under the theme “From Ambition to Action: Fuelling Africa’s Green Industrial Revolution”. Adding that the summit will focus on the strategic role Africa expects to play in the global hydrogen market and will facilitate collaboration and advance dialogue across policy, investment and the emerging hydrogen value chain.“Following the initial announcement made as…

21 Mar

SNC Incorporated: Empowering Namibia’s Energy Oil and Gas Sector

info_e12wt4csEnergy, Observer MoneySNC Incorporated: Empowering Namibia’s Energy Oil and Gas Sector

As Namibia celebrates another year of independence, it is a moment to reflect on the steps made in various sectors, particularly the growing oil and gas industry. The exploration and exploitation of natural resources has opened opportunities for both domestic and international investments, positioning Namibia as a key player in the global energy landscape. Since its inception, SNC Incorporated has managed to carve out a niche as a leader in Namibia’s legal landscape, particularly in the energy, natural resources, commercial and dispute resolution sector. The Windhoek based law firm has built a reputation for excellence and integrity, setting new standards…

06 Mar

USAID grant significantly boosts Namibia’s Green Hydrogen initiative

info_e12wt4csEnergy, National NewsUSAID grant significantly boosts Namibia’s Green Hydrogen initiative

Niël Terblanché The United States government, through its USAID Mobilizing Investment project, has announced a generous grant of N$19 million to Namibia Hydrogen Fund Managers (Pty) Limited. This critical financial injection is aimed at supporting the ambitious N$22 billion Sustainable Development Goals (SDG) Namibia One Fund, marking a major milestone in Namibia’s journey towards sustainable development and green energy. The SDG Namibia One Fund unveiled at the United Nations Climate Change Conference COP-27 in November 2022, stands as Namibia’s premier finance vehicle dedicated to the burgeoning green hydrogen industry. It is set to play a critical role in managing a…

08 Jan

Oil rig leaves Namibia

info_e12wt4csEnergy, Observer MoneyDeepsea Bollsta, Oil rig leaves Namibia

Northern Ocean Ltd, which has been operating an oil rig offshore Namibia has said that a subsidiary of Shell Plc did not exercise the remaining option available under the Deepsea Bollsta contract for work in Namibia. The Deepsea Bollsta is available from June 2024, and the company continues its ongoing dialogue with potential customers in the West African region and in harsh environment markets. The Deepsea Bollsta successfully transited from Norway to Namibia in December 2022 and commenced drilling exploration and appraisal wells in the Orange Basin. “The rig has maintained outstanding performance with the crews demonstrating the superior capabilities…

17 Nov

Feasibility on hydrogen locomotives underway

info_e12wt4csEnergy, Observer MoneyFeasibility on hydrogen locomotives underway

Chamwe Kaira The development of Africa’s first dual-fuel hydrogen-diesel locomotives is at feasibility and concept stage, CEO of Hyphen Technical, Konrad Boshoff said. The consortium led by hydrogen application development company, Hyphen Technical, comprises, TransNamib Holdings Limited, University of Namibia, CMB.TECH and Traxtion. “Funds will be raised through the grant, secured loans from partners and from capital from shareholders of the project company. The total cost of the entire project is €9.17 million including all work packages for the pilot and related research projects.” Cleanergy Solutions Namibia has already broken ground on the site outside Walvis Bay. Boshoff said commissioning…

31 Oct

Consumers get temporary relief as fuel prices remain unchanged

info_e12wt4csEnergy, Observer MoneyConsumers get temporary relief as fuel prices remain unchanged

Niël Terblanché In a welcome respite for consumers, fuel prices in Namibia will remain unchanged in November. The Ministry of Mines and Energy made the announcement on Friday. The decision comes after a period of steep increases in the prices of consumer goods in the country. The Ministry of Mines and Energy explained the reasons behind this decision, citing significant declines in global oil prices during October. The decline was attributed to a reduction in fuel demand, which outweighed the OPEC+ decision to maintain a reduction in oil production, thus keeping the supply constrained. Diesel, which serves as an indicator…