Posted on :Friday , 3rd May 2019
Developing economies everywhere Africa measure during a distinctive position to leapfrog a lot of developed nations by finance in cleaner, environmentally friendlier sources of power at a lower price - main factors conducive to improved use of renewable energy power across the continent.
However, renewable energy resources hold nice promise and might give energy whereas overcoming Africa’s infrastructural challenges, this manner of energy would still ought to be hold on, that's why lithium-ion batteries could be a game changer for Africa.
Countries like Morocco, Tanzania, Mozambique, Kenya, Mauritius, Republic of South Africa, African country and Gold Coast have taken initiatives within the development of renewable and clean energy comes, especially solar and gas to power.
With the current low cost of gas compared to several years ago (through the shale gas revolution in the USA), gas power plants have increasingly become more competitive as compared to clean coal technologies and are an affordable solution.
There are monumental investments within the field of battery storage analysis and development by leading international corporations like Samsung, Tesla, and Total over the past 5 years.
South Africa alone holds almost 80 per cent of the world’s known reserves of manganese (producing 5.3 million MT per annum3) – an important component of the Li-Fe battery. A growing market will explain the creation of a local battery production plant, but the serious investment is first needed for a large-scale facility.
Mozambique has the ninth largest gas reserves within the world whereas African country shares constant gas-rich Rovuma Basin.
One of the region’s largest project funding transactions (Coral LNG) closed recently in Mozambique with a deal worth in more than $30 billion, with 2 a lot of similar deals close.
Many different countries in Africa like African country, Ghana, Angola, and South Sudan have impressive oil and gas reserves.
The production effects from this may be Brobdingnagian for native economies with the chances of cracker plants; chemical and organic compound plants, pipelines, gas-to-power plants, and LNG export terminals posing sizeable opportunities for Indian corporates..
The political and economic climate across Africa has often improved over the last 20 years, and regardless the frustratingly long lead times for infrastructure comes, on a risk-return adjusted basis, Africa boasts of better returns than developed markets.
With the right investment in the right infrastructure, and with the right partners, Africa is well assured for solid socio-economic growth and sustainable development.