Friday, 22 April

Dear <<First Name>>

Happy Earth Day 2022! 

The first Earth Day – held way back in 1970 - followed what was at the time the largest oil spill in history, and which now ranks as the third largest after Deepwater Horizon in 2010 and Exxon Valdez in 1989. The spill was a catalyst for action and what many people believe was the birth the modern environmental movement. 

After more than half a century – and many, many more environmental disasters - Earth Day has become a truly global event, engaging more than one billion activists from nearly 200 countries. And with the IPCC’s "now or never” warning from earlier this month still echoing in our heads, today’s event looks set to be more keenly supported than ever. 

I applaud organisers Earthday.org for choosing Invest in our Planet as this year’s theme and in doing so reminding us that not only do we all have a part to play in responding to the global crises, but that “a green future is a prosperous future”. 

In Camco’s line of work, we partner with the sorts of businesses and investors that are already one step ahead of the field. We understand that sustainability is the only path to long-term prosperity and are going about making profitable businesses that are at the same time serving to protect the planet and bring about a brighter future for all. 

But there are so many businesses out there that are stuck in the past, still failing to recognise the golden opportunities that lie in front of them by “going green”. I hope this Earth Day serves as the wake-up call that these companies need to act now and put sustainability at the core of their business planning and operations. 

Cheers

Geoff Sinclair

Managing Director, Camco Clean Energy

 

West Africa

Burkina Faso: Beyond the Grid Fund for Africa (BGFA) funds solar kits (Afrik21)
- The BGFA is providing USD2.5 million in funding to solar home systems provider Oolua to expand its operations in the country’s rural areas.

Ghana: Minister of Energy addresses tariff increases (AllAfrica) 
- Dr Matthew Opoku Prempeh has indicated that tariff increases for the Electricity Company of Ghana is not an option; the company is instead encouraged to cut down its losses and implement processes to allow for efficient collection of payments.

Nigeria: Stakeholders seek USD500 billion cash injection (The Guardian)
- Members of the Global Alliance for a Green New Deal, amongst others, have written to the International Monetary Fund with a proposal to scale up finance for carbon-cutting projects in the developing world.

East Africa

Climate: East African drought set to be the worst in recent history (Landscape News) 
- Report highlights long-term solutions to worsening effects of climate change include an increase in “food and renewable energy sovereignty” and upping spend on public services.

Madagascar: GreenYellow completes solar plant extension (SolarQuarter)
- The renewable power producer's recent development of the Ambatolampy solar plant has increased its capacity by 40MWp.

Malawi: Government commissions 3.4MW hydropower station (ESI Africa)
- The Muloza station is set to boost the country’s national grid and is expected to serve over 2,800 rural households in Phalombe, Mulanje and Thyolo. 

Malawi: Solar mini-grid shows significant potential for rural electrification (Reuters)
-  A mini-grid in the country is powering maize mills, a sunflower oil facility and will help a welder in a nearby village to expand his business – demonstrating the role off-grid systems can play in the continent’s route towards low-carbon power.

Southern Africa

Namibia: Self-supporting solar tracker to be tested (ESI Africa)
-  A new solar tracker that is self-supporting in generating and storing energy is going to be tested with hopes that the technology will provide an efficient, secure and reliable source of power for off-grid communities.

South Africa: Vukile Property Fund concludes Nedbank loan to fund energy projects (ESI Africa)
- The five-year R200 million use-of-proceeds green loan will fund 19 solar energy and energy-efficiency initiatives across the country.

Africa - other

Angola: Country targets 60% electrification by 2025 (African Business)
- The Angolan government has highlighted its commitment to expanding the share of renewables in its energy mix, currently dominated by hydroelectric power.

Cameroon: Mbakaou power station reaches commercial operation (Afrik21)
- The mini hydroelectric power station, equipped with two 750kW Kaplan turbines, has gone into service after more than two years of work. 

Energy access: Workshop highlights impact of energy poverty (ESI Africa)
- The Africa Coalition for Sustainable Energy Access recently hosted an event where it highlighted energy poverty as the main barrier to implementing clean energy on the continent. 

Morocco: First phase of Nor II solar project launches (Pumps Africa)
- The Moroccan Agency for Solar Energy and the Moroccan Energy Minister have launched the first phase of the mega solar site, which has a total capacity of 400MW.  

Report: Recent UN report highlights impact of Russia’s war on Ukraine on African economy (ESI Africa)
- The report indicates that more than 70% of Africa’s economies, including food, energy and finance, face acute risk from the conflict.

Solar: Mini-grids can viably power electric vehicles (ESI Africa)
- A recent EMI study has found that mini-grids can power two and three-wheeled EVs and match the price of fossil-fuel alternatives.

Pacific

Climate: New Zealand and Singapore add climate to partnership priorities (Asia Pacific Report)
- The countries have agreed to focus on climate and sustainability to enhance their partnership in acknowledgement of the ‘existential’ threats that climate change poses.

Investment: The Asian Development Bank (ADB) launches first Blue Bond Incubator (Pina)
- The project is supported by ADB’s Asia-Pacific Climate Finance Fund and proceeds will finance projects that enhance ocean health through ecosystem restoration, natural resources management, circular economy, marine renewable energy and more. 

Palau: Minister claims Pacific needs to be more strategic in approaching climate issues (Pina)
- The country’s Minister of Agriculture, Fisheries and Environment has stated that more coordination across the Pacific is essential in preparing for COP27.

Rest of the world

Global: “No Planet B” research indicates weariness with lack of sustainability progress (PRNews)
- Recent study by Oracle and Pamela Rucker of over 11,000 consumers shows that 94% of people believe society has not made enough progress towards a green future. 

Global: World needs USD1.3 trillion energy investment by 2030 (Reuters)
- According to JP Morgan’s first annual energy outlook, this level of incremental investment is required to boost all types of energy output and infrastructure to avoid an energy crunch.

Microgrids: Case made for microgrids across both rural and urban areas (Popular Science)
- A professor at the University of California has argued a case for those looking to get more involved in the climate fight to investigate microgrids as a solution to generating their own power, given its now more affordable than ever.

Renewables: The hottest trends in clean energy procurement so far this year (GreenBiz)
- As corporations continue to ink new renewable energy deals, spiraling costs for PPAs are making deals harder to source and finalise.

Renewables: Research estimates renewable energy market value by 2030 (GlobalNewswire)
- According to Precedence Research, the global clean energy market will be worth nearly USD2 trillion in less than 10 years due to rising government and corporate investments towards the adoption and deployment of clean energy sources. 

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