Monthly Archives

April 2023

Apr 21
48
idc funding joint venture development

KINETIKO TO PROCEED WITH INSTALLATION OF PILOT GENSET AT AMERSFOORT PROJECT

By | Energy, Resources & Renewables | No Comments

  • Requirement for Private Power Producers to hold generation licences (IPP Licenses) has been removed by South Africa’s Department of Mineral Resources and Energy (DMRE)
  • South African Governments Energy Action Plan outlines a number of interventions to combat national energy crisis including:
    • Enabling and accelerating private investment in generation capacity
    • Accelerating the procurement of new capacity from renewables, gas and battery storage
    • Fundamental transformation of the electricity sector to achieve long-term energy security
  • Kinetiko now able to proceed with installation of its own pilot generator set at Amersfoort Project
  • Kinetiko subsidiary, Afro Energy (Pty) Ltd, has terminated a proposed 50/50 joint venture (JV) with Vutomi Energy (Pty) Ltd

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Apr 11
46
africa close electricity gaps world bank

AFRICA CAN CLOSE ELECTRICITY GAPS WITH GAS, RENEWABLES – WORLD BANK

By | Energy, Resources & Renewables | No Comments

  • The World Bank supports that African countries that have natural gas resources should maximize them to close their electricity gaps.
  • The multilateral lender said that Africa has significant renewable energy potential, but attracting investment is critical.
  • Africa’s pursuit of natural gas-based economies will not add any significant addition to its low carbon emitter status.

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Apr 11
45
idc funding joint venture development

KINETIKO ENERGY: IDC FUNDING RECEIVED TO COMMENCE JOINT VENTURE DEVELOPMENT

By | Energy, Resources & Renewables | No Comments

  • Industrial Development Corporation of South Africa (IDC) has advanced its first funds towards its JV with Afro Energy to develop gas fields to produce gas for industrial, commercial, transportation or power generation applications.
  • The proposed gas field comprises approximately 20 wells to produce gas and IDC has a first right to participate in up to 45% of the next 60 wells developed by Afro Energy
  • Approvals are in place for the joint venture and field commencement anticipated in late 2023
  • Continues company focus on capital efficiency to significantly grow gas resources and reserves

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