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Uranium investors await price rally to revive Namibia projects

Namibia’s finance minister said uranium miners are waiting for prices to recover before reviving projects in Africa’s biggest producer of the ore, which is needed for nuclear power in a world shifting away from fossil fuels. The semi-arid southwest African nation is investing in water facilities and is planning a second desalination plant to supply mines in the dry Erongo region in anticipation of higher uranium prices attracting investors, according to Finance Minister Ipumbu Shiimi.

Investors should focus on climate opportunities instead of risks

There is significant tension not so much between the need for economic development and the need for climate action, but rather between the losses expected to be incurred as a result of climate inaction and the immense opportunities for growth that result from taking action, World Wide Fund for Nature (WWF) programme manager Louise Naudé has said. Speaking during a panel session at the Southern African Venture Capital and Private Equity Association’s 2022 conference, in Johannesburg, on May 26, she said the idea that we have to somehow balance socioeconomic and environmental needs to effect a just energy transition was a false dichotomy, because pursuing climate goals would create immense socioeconomic opportunity.

Enlit Africa is back

Enlit Africa returns to Cape Town as a live conference and exhibition from June 7 to 9 this year, focusing on the current opportunities and challenges in the energy sector – from self-generation for municipalities and gas exploitation to renewable and energy storage solutions for the commercial and industrial sectors.

Workable solutions to mitigate SA’s energy crisis

South Africans have become accustomed to working and living with load-shedding over the past few years. Scheduled and unscheduled power outages have become a reality, with 1 130 hours of planned power cuts experienced in 2021 alone. Recently, the country was warned that the future of its electricity supply does not look bright and to prepare for about 61 days of load-shedding between April 01, 2022 and August 31, 2022 – depending on unplanned unavailability.

First hydrogen-burning power plant operational

Energy supplier Long Ridge Energy Terminal (Long Ridge) – a subsidiary unit of transportation and infrastructure company Fortress Transportation and Infrastructure Investors and an affiliate managed by asset management firm GCM Grosvenor – announced a successful first step to transition Long Ridge’s power plant toward carbon-free hydrogen.