September 27, 2023 1:36 am

Russian energy giant looks to expand into Africa, targeting lucrative markets — RT Business News

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The potential for geothermal energy in Africa is immense and the continent has a good chance of becoming a global leader in its exploration and use, according to Sergey Machekhin, the deputy CEO of Russian energy company RusHydro. In an interview with TASS, Machekhin highlighted the company’s active operations in Africa and its plans for geothermal projects in several countries.

RusHydro is currently considering 15 geothermal projects in 11 African countries. Machekhin emphasized that geothermal plants are a form of green energy and Africa has the opportunity to lead in the comprehensive use and development of this potential, particularly in countries like Kenya, Uganda, and Ethiopia.

Machekhin also mentioned the company’s active engagement in Egypt, where they are working with counterparts from Rosatom to design the waterworks segment and structures for the El Dabaa Nuclear Power Plant. In Sudan, RusHydro is remembered and known, and they are ready to discuss facility upgrades. The company is also close to finalizing agreements with Algeria and Ethiopia.

As a company with a portfolio that includes geothermal power plants in Kamchatka, RusHydro is offering its available operating technologies to African partners. This highlights their commitment to sharing their expertise and supporting the development of geothermal energy in the region.

The second Russia-Africa Summit took place in St. Petersburg recently, aiming to strengthen trade and economic cooperation between the two regions. During the two-day event, more than 160 agreements were signed, indicating the growing interest and collaboration between Russia and African countries.

The expansion of geothermal energy in Africa aligns with the continent’s increasing focus on renewable energy sources and the need to diversify its energy mix. Geothermal energy offers a reliable and sustainable option, as it relies on the natural heat generated from the earth’s core.

In recent years, several African countries have made significant strides in harnessing geothermal energy. Kenya, for example, has been a pioneer in this field, with its Olkaria Geothermal Complex providing a substantial portion of the country’s electricity needs. Ethiopia has also invested in geothermal projects, aiming to tap into its vast potential for clean energy production.

RusHydro’s interest in African geothermal projects not only signifies their confidence in the continent’s potential but also highlights the importance of international collaboration in achieving sustainable energy solutions. By sharing knowledge, resources, and technology, African countries can accelerate their transition to greener energy sources and reduce their dependence on fossil fuels.

Furthermore, the development of geothermal energy in Africa could bring several economic benefits. It has the potential to create jobs, stimulate local economies, and attract investment in the renewable energy sector. Additionally, geothermal power plants could provide a reliable and affordable source of electricity, contributing to the overall development and electrification of rural areas.

In conclusion, the prospects for geothermal energy in Africa are promising, and the continent has the opportunity to emerge as a global leader in its exploration and utilization. With the support and collaboration of companies like RusHydro, African countries can tap into their geothermal potential, drive sustainable development, and contribute to the fight against climate change.

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Original Source: Russian energy giant looks to expand into Africa, targeting lucrative markets — RT Business News

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