Copy

Friday, 07 October


Dear <<First Name>>

Living with the knowledge that climate change is likely to worsen severely during my own lifetime is daunting, but as the father of a young child the thought of what his future world could look like is simply terrifying. And we are lucky enough to live in a fully developed country that is more resilient than most to the impacts of global heating. 

No wonder then, that young activists took to the streets in Tunisia this week to demand climate justice, to demand climate justice in the run-up to COP27 next month. With severe droughts, extreme temperatures and the resulting food insecurity already increasing all around them, these children are bearing the brunt of climate change today, in real time. 

Making a bad situation worse, the World Bank’s latest Africa’s Pulse recently revealed that Africa’s economic growth is decelerating as countries continue to contend with rising inflation, compromising progress on poverty reduction efforts already set back by COVID-19. 

Speaking at pre-COP27 talks in Congo this week, UN Secretary-General Antonio Guterres warned the world is facing “a life-or-death struggle” for survival. He pulled no punches shaming the world’s 20 wealthiest countries for failing to do enough to stop climate change, and of course he's right.  
 
And at another pre-COP27 event in Giza, wealthier countries were issued a barrage of criticism from African ministers and high-ranking officials for failing to honour a 2009 agreement to provide USD100 billion a year to developing countries by 2020. 

We may not have been able to predict it at the start of the Industrial Revolution, but the cost of the West’s development has been planetary health. And with many millions continuing to live in the conditions that we strove to escape, the responsibility for leading the response against climate change falls squarely on our shoulders. A big part of that is providing a lot more funding to developing countries as they transition away from fossil fuels and adapt to the consequences of our warming world.   

Cheers 

Geoff Sinclair

Managing Director, Camco 
 

Read REPP’s latest annual report

Camco news

Camco has said a fond farewell to Regional Manager for West Africa, Marindame Kombate, who has left the company after seven years to take up a major role at the UNDP-led initiative, Africa Minigrids Programme. 
Story of the week

InfraCo Africa and renewable energy developer, Equatorial Power, have formed an alliance to deploy a portfolio of mini-grids in Rwanda and DRC. The mini-grids will have an installed capacity of between 60 and 85kWp and include battery storage systems.

West Africa

Guinea-Bissau: Energy key to AfDB’s strategy for addressing country’s development challenges (AfDB)
- The new strategy will promote economic diversification, structural transformation and lay the foundation for inclusive, resilient and sustainable growth by targeting the energy, transport and financial services sectors.

Nigeria: Renewables integral to saving businesses millions (ESI Africa)
- The Renewable Energy Association of Nigeria (REAN) has put the total cost of unreliable electricity in the country at over USD25 billion.

Nigeria: 5MW solar PPA signed for Abuja university campus (ESI Africa)
- Developer Rensource has entered into the PPA with Baze University to design and finance the plant, which will be hybridised with the university’s existing diesel generation.
 

Sierra Leone: CrossBoundary Energy commissions commercial solar and battery system (Next Billion)
- The first-of-its-kind facility in the country consists of 236kWp PV plant and 389kWh battery storage and is providing clean energy for a plantation factory in Tonkolili.

East Africa

Rwanda/DRC: InfraCo and Equatorial to invest in solar mini-grids (Afrik21)
- The investment company has signed a partnership agreement with the renewable energy provider to invest USD1.7 million to develop a solar portfolio in the countries. 
 

Southern Africa

C&I: VUKA Group, South African Storage Association and GIZ develop energy storage guide (ESI Africa)
- The Fundamentals of Battery Energy Storage for Beginners is a practical guide aimed at businesses in the C&I sector considering installing an energy storage system. 

Namibia: Country calls for expressions of interest for electricity regulation project (ESI Africa)
- The Regional Energy Regulators Association of Southern Africa has invited individual consultants to indicate their interest in providing services for the Regional Harmonisation of Regulator Frameworks and Tools for Improved Electricity Regulation project in the SADC region.
 
South Africa: R33 billion minimum needed for Medupi and Kusile (Hypertext)
- President Cyril Ramaphosa said the money would be required to complete the commissioning and remedial work at the respective power stations.

Africa - other

C&I: Empower New Energy partners with Climate Fund Managers to develop solar projects (PV Magazine)
- The Norwegian company has closed a USD74 million equity deal to finance solar energy for C&I off-takers across the continent.

Climate change: AfDB calls for urgent climate action at 77th UN General Assembly (AfDB)
- Climate change was a recurring theme in many of the bank’s discussions at the meeting in New York, particularly the need for urgent finance for countries most at risk from the climate crisis.

Energy: Report highlights major actions taken towards achieving UN SDGs (ESI Africa)
- EnergyNow SDG7 Action Forum’s report shows that in the year since they were launched, Energy Compact commitments have generated USD46 billion in investment.

Finance: Africa’s VC industry hits record number of deals over first half of 2022 (How we made it in Africa)
- The AVCA’s 2022 Venture Capital in Africa report indicates that the continent’s innovation ecosystem has seen a highly eventful start to the year, with a cumulative deal value of USD4.7 billion.

Finance: African countries urge nations to honour USD100 billion pledge (The Guardian)
- Ministers and high-ranking officials of African nations have urged rich countries to do more to combat the climate crisis and have called the failure to meet the funding promises made in 2009 “shameful”.

Report: World Bank releases latest Africa’s Pulse report (World Bank)
- According to the biannual analysis of the near-term regional macroeconomic outlook, economic growth in Sub-Saharan Africa is set to decelerate from 4.1% in 2021 to 3.3% in 2022.

Pacific

Fiji: USAID to increase assistance in the Pacific (PINA)
- The re-establishment of the USAID regional mission for the Pacific in Suva aims to bolster the Pacific islanders’ own economic and social development priorities.

Policy: Pacific Islands back partnership with the US (PINA)
- Cook Islands Prime Minister Mark Brown has said that respect for islands’ sovereignty was likely to be a key reason why Pacific leaders accepted an offer of partnership from the US, having shelved China’s. 
 

Rest of the world

Employment: Solar PV employs more women than any renewables (Modern Diplomacy)
- According to IRENA’s new Solar PV: A Gender Perspective report, women accounted for 40% of solar jobs worldwide in 2021, almost double the share employed in both the wind and gas industries.

Energy: IEA and partners launch Cost of Capital Observatory (IEA)
- The new tool to track financing costs for energy projects around the world aims to identify and address risks that have impeded vital investment flows to emerging and developing economies.

Share this newsletter!

Currencies

Twitter
Website
LinkedIn
camco.fm | contact@camco.fm






This email was sent to <<Email Address>>
why did I get this?    unsubscribe from this list    update subscription preferences
Camco Clean Energy · 28 St John's Square · London, England EC1M 4DN · United Kingdom