Latest news with #ElenaKiryakova
South China Morning Post
11-05-2025
- Business
- South China Morning Post
More Chinese energy investments in Africa are going to renewables, report finds
China is increasingly channelling its energy investments in Africa into renewable projects , with solar and wind power now accounting for 59 per cent of its energy projects on the continent, according to a report by UK-based think tank ODI Global. Advertisement The report found one-fifth of China's overall energy sector and also a fifth of renewable energy investment and construction activity had taken place in Africa, amounting to US$66 billion between 2010 and 2024. The continent has also become a key market for Chinese solar and wind technology, with exports surging 153 per cent from 2020 to 2024. That growth is being fuelled by Africa's rising energy demand and China's dominance in solar panel production, where it manufactures over 80 per cent of the global supply. The findings align with global trends showing China's energy investment shifting from fossil fuels to renewables. In 2021, China committed to halting the funding of new coal-fired power plants overseas. The ODI Global study noted that 'African economies represent a smaller, but growing destination for Chinese wind and solar power technology'. This shift is expected to continue given rising demand for electricity generation and untapped renewable energy resources on the continent. 16:09 How China is reshaping its economic ties with Africa How China is reshaping its economic ties with Africa Elena Kiryakova, a research fellow in the Global Risks and Resilience programme at ODI Global, said Africa's adoption of Chinese wind and solar tech was mainly due to its 'global competitiveness' and Africa's 'growing energy needs'.
Yahoo
26-03-2025
- Business
- Yahoo
Metals giants eye Dar es Salaam port
Three global metals giants expressed interest in using Tanzania's main port as a transit hub to expand their Africa presence, The Citizen Tanzania reported. Delegates from China Metal Storage and Transport Company, the Geneva-headquartered Mercuria, and their jointly owned subsidiary Henry Bath & Son, visited the Port of Dar es Salaam over the weekend. 'This is our next strategic location. We currently have no presence here, but we see Dar es Salaam as a key hub with growing trade volumes, CMST President Wang Haibin said, The Citizen reported. Mercuria's head of metals and minerals for Africa added that the partnership with Tanzania would allow the firm to 'expand our footprint in Africa.' The energy-trading company has made a significant push into the metals market since late 2024. Their interest is part of a broader push by China to encourage public-private partnerships in Africa, Elena Kiryakova, a research fellow at the think tank ODI, told Semafor. This offers a 'more sustainable' approach to African investment than state-backed lending, she said. Dar es Salaam is an important transit point for cobalt and copper mined from DR Congo and Zambia. Logistics bottlenecks in South Africa have slowed exports in recent months, Reuters noted, prompting China to invest $1.4 billion in upgrading the 50-year-old Tanzania-Zambia railway. The line is a competitor to the US-backed Lobito Corridor, which aims to refurbish train lines in Angola, DR Congo, and Zambia to improve mineral supply chains.
