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AfrElec RENEWABLES AfrElec
Nigeria signs deal with CarbonAi
to develop solar energy projects
NIGERIA NIGERIA’S Rural Electrification Agency (REA) of gas flares globally and is now seeking to earn
has signed a memorandum of understanding carbon credits by cutting down on gas flaring
(MoU) with CarbonAi, a Canadian oil and nat- through capture projects.
ural gas company, to develop small-scale solar The REA, according to the MoU, will find
energy projects in the West African country. opportunities for solar energy near CarbonAi’s
The REA will build the solar projects, funding flare gas capture projects in Nigeria, while Car-
them through carbon credits generated by flare bonAi will apply its expertise in carbon finance
gas capture projects, which will be financed and and quantify, verify and monetize greenhouse
developed by CarbonAi, which has such projects gas emissions.
in Nigeria. “We are excited to work with the REA as our
Based in Calgary and Dubai, the company CarbonAi Climate Dividend Programme part-
provides full-cycle flare gas capture services for ner in Nigeria,” stated CarbonAi’s chief carbon
fully integrated greenhouse gas (GHG) reduc- officer, Yvan Champagne.
tion projects. “We are strong believers in win-win out-
Gas flaring is the burning of natural gas comes, and we believe our Climate Dividend
from oil extraction. It has come under attack for Programme captures the spirit of the energy
producing high levels of greenhouse gases and transition by leveraging immediate reductions in
become a target for countries fighting climate today’s energy system to build the energy system
change. Nigeria has the third-highest number of tomorrow in Nigeria.”
Kenyan MPs probe fictitious
payments for Lake Turkana
Wind Power project
KENYA A Kenyan parliamentary committee is probing according to Capital FM.
the “fictitious payment” of over KES 600mn Launched over a decade ago, the KES 17bn
($4.9mn) by Kenya Power and Lighting Com- LTWP project was among the largest private
pany (KPLC) for unsupplied power, Capital FM investments in Kenya’s history. It provides
reports. 310MW to the national grid, equivalent to over
MPs on the National Assembly Departmental 17% of installed electricity generating capacity.
Committee on Energy are looking into payments Nairobi-listed KPLC owns and operates
the utility made to Lake Turkana Wind Power most of the country’s electricity transmission
(LTWP), the beneficial ownership of which has and distribution system. The government has a
not been fully established. controlling stake of 50.1% and private investors
At the same time, LTWP is said to have wired own the remaining 49.9%.
millions of shillings to the “wrong accounts”,
Week 48 30•November•2022 www. NEWSBASE .com P13