Friday 10 December 2010

Ground-breaking renewable deal for Africa

A UK biomass producer has forged a ground-breaking partnership with an African company. The deal made between Africa Renewables Ltd, and Ghana Rubber Estates Ltd, an arm of SIFCA the African agribusiness group is the first of its kind.

The deal will connect African business to European energy firms and breaks new ground as the majority of biomass export to Europe comes from the Americas. Africa Renewables Ltd have pledged a $16 million investment over the course of eight years.

Sonia Medina, Chief Operating Officer for Africa Renewables Ltd, said: "We are committed to building a company that helps Africa realise its energy generation potential from renewable sources. We want to be the link with European end-users looking to secure long-term biomass supply contracts or firms seeking investment in renewable energy electricity generation in the African continent."

The 2020 targets set by the EU Renewable Energy Directive have changed the ways in which big businesses are approaching meeting energy needs. Africa Renewables Ltd expects to export 120,000 tonnes of wood chips per year from 2011. This alone is set to meet the European standards for biomass specifications and sustainability.

Africa Renewables Ltd only came into existence in April 2010 but already aims to treble Ghana Rubber Estates Ltd's exports in just five years.