Renewable energy stocks are having a hard time, even in the middle of Europe’s energy crisis. It seems that the sector needs central banks to take their foot off the gas in hiking interest rates, but it may have to wait a little longer.
High spot electricity prices, particularly in Europe, are changing the utility wind and solar investment narrative as potential payback periods of under a year could start a race to develop renewable assets purely based on project economics, Rystad Energy research shows. Capital investments in renewables have also increased significantly and are set to reach $494 billion in 2022, outstripping upstream oil and gas at $446 billion for the year, according to Rystad Energy research. This is the first time that investment in renewables is set to be higher than for oil and gas.
Freddie Blay, the board chairman of the Ghana National Petroleum Corporation (GNPC) has called for the positioning of Africa as a prime
energy market as well as making the continent’s energy potential the basis for Africa’s industrialization.
Blay said these ideals are necessary to overcome several challenges confronting the energy industry.
Energy is at the heart of the challenges of achieving both the 2030 Agenda for Sustainable Development and the Paris Agreement on climate change.
Energy experts are pushing for consideration of nuclear in the energy mix of countries across the African continent, as energy transition takes centre-stage in the efforts to address fast-occurring global climatic changes. Ghana, for instance, has committed to achieving net zero carbon emissions by 2070 while pursuing other steps to accelerate the production and utilisation […]