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Shaping the Future of Solar Energy at Offshore Technology Conference,

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By Okoko Chidozie Christian

[email protected]; 09025179984.

As the world transitions to a more sustainable and low-carbon solar energy future, no other event provides attendees with more diverse conversation focused on the latest developments needed to accelerate the global energy mix, except the Offshore Technology Conference (OTC)

Shaping the Future of Solar Energy at Offshore Technology Conference,

Since 1969, the Offshore Technology Conference, OTC has served as a central hub convening energy professionals from around the world to share ideas and innovations, debate and build consensus around the most pressing topics facing the offshore energy sectors and the globe at large.

The OTC focused on the technologies and innovations needed to continue providing the world’s energy needs while helping to create a cleaner, healthier and more sustainable future for all. It is the only global energy event connecting 31,000+ offshore energy professionals from more than 100 countries to discuss the challenges, solutions and changing environmental landscape of the offshore energy sector.

Across four (4) days, industry-thought leaders, investors, buyers and enterpreneurs will meet in Houston- the energy capital of the world to develop business partnership and learn about the latest advances, challenges and opportunities.

At OTC, there will be access to leading-edge technical information, the industry’s largest equipment exhibition and valuable professional contacts from around the world.

Also, it will provide excellent opportunities for global sharing of technology, expertise, products and practices.

Whether oil and gas, solar, wind, hydrogen, and marine resource, conversations will be centred around innovations that could help shift and drive the world’s energy mix.

Looking at the solar energy issue at the conference, the world will witnessmore paradigm shift towards renewable energy source as a means in combating climate change and reducing dependence on fossil fuels.

Among many options, solar energy has taken the lead to providing a sustainable and plentiful answers to the urgent energy concern of our days.

Also, the world’s energy has increasingly transitioned and focused on using solar energy to fulfil rising energy demands since the sun is an endless supply of clean energy.

Therefore, it is impossible to exaggerate the contributions of solar energy to the global energy shifts.

In terms of generating electricity and alerting the overall energy landscape, solar power has proven to be a game-changer making it possible for nations, communities to lower their carbon footprints, improve energy security, and spur economic growth by using photovoltaic (PV) technology or concentrating solar power(CSP). The unmatched environmental advantage of solar energy is one of its main advantage.

Contrary to the traditional energy source, solar energy emits no greenhouse gaswhile in use; reducing the adverse effect of carbon-dioxide, (CO2) and other air pollutants.
As a result, makes a substantial contribution to the battle against climate change by assisting countries in meeting the Paris Agreement emission reduction goals.

Furthermore, by decentralizing energy generation, solar energy strengthens communities. Homes and businesses may become self-sufficient energy producers by installing solar panels on their rooftops decreasing dependency in centralize power system and fostering energy independence.

Remarkably, the solar business has grown, creating jobs and investments to many countries such as the US, Europe, Japan, Brazil, China to mention but a few. In the US, solar capacity exceeded 135,700MegaWatts as of late 2022, which is enough to power 24million homes according to the Solar Energy Industry Association, SEIA. Typically, solar panel is an attractive investment for homeowners who pay high electricity prices, have roofs with decent sun exposure, want to reduce their environmental impacts and want to pre-pay for a quarter century of power.

Study confirms that there are some misconceptions about solar power, but panels yield excellent result when used in the right application.

Solar panel materials can be recycled and reused between 90% to 97% for other purposes when they break down. This is because solar panels are made up of large amounts of aluminium, copper and glass. These materials can be recycled for other products manufacturing including solar panels-thanks to its modular design.

Solar panels generate electricity for decades without producing carbon emission. By comparison, conventional power plants fired by fossil fuels produces significant emissions during their lifespan and cannot be dismantled as easily as a solar panel.

Do you know that early models of solar panels are still in use today? Solar panels have no moving parts, which means they are not at risk of much mechanical wear.

And, this results in a long service life, and the top solar brands now offer warranties of over 20 years to help maintain your panel over time.

As one of the world energy event that showcase advances in energy, highly interactive experience, inspire progressive leadership thinking and collaborative actions, OTC critically look ahead to the next 100 years of energy; not just what the future in energy technology looks, but also how to increase society’s energy literacy and creates more inclusive, bottom-up energy communities.

 

 

 


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AfriLabs, Korea-Africa Foundation in Strategic Partnership to Boost African Innovation

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African hubs network AfriLabs has signed a memorandum of understanding (MOU) with the Korea-Africa Foundation for a strategic partnership aimed at driving innovation and economic growth across the continent.

AfriLabs is a network organisation that is committed to driving innovation and entrepreneurship on the continent by bringing together technology hubs, startups, investors, and other key stakeholders in the ecosystem.

Having recently announced the admission of 16 new hubs, AfriLabs now has a network of 478 hubs across 260 cities in 53 African nations.

The Korea-Africa Foundation, meanwhile, aims to serve as a platform for collaboration between the private and public sectors, and to strengthen exchange and cooperation with African countries.

The collaboration between the two aims to bridge the gap between Korean and African startups by leveraging each other’s expertise and resources. This will be achieved through the exchange of insights on youth development, the launch of joint research initiatives, and the fostering of a dynamic ecosystem that cultivates talent and entrepreneurial spirit in both regions.

“At AfriLabs, we are dedicated to unlocking Africa’s full potential and generating wealth through strategic alliances. This partnership with the Korea-Africa Foundation unlocks a treasure trove of opportunities for startups, granting them access to a global network, invaluable resources, and unparalleled industry knowledge.

“Together, we will empower the next generation of African innovators and entrepreneurs, paving the way for sustainable development and a thriving economy,” said Anna Ekeledo, executive director of AfriLabs.


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$750m World Bank Loan:  FG May Reintroduce Telcoms, Gambling Taxes

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Federal government may reintroduce the controversial telecom tax and other fiscal measures to fulfill one of the conditions for The World Bank’s fresh $750 million loan to Nigeria.

$750m World Bank Loan:  FG May Reintroduce Telcoms, Gambling Taxes

Experts have however strongly opposed new taxes, calling them harmful to the sector’s survival and the larger economy.

But The World Bank in programme appraisal document, dated May 17, 2024, on the loan disbursement to Nigeria, said that $750 million loan to Nigeria will support the federal government’s policy reforms.

A copy of the plan’s document posted on the World Bank website indicated that the government might reintroduce the excises on telecom services, and EMT levy on electronic money transfers through the Nigerian Banking System among other taxes.

Recall that on June 13, Wale Edun, minister of finance and coordinating minister of the economy, announced the approval of two financial support packages by the World Bank valued at $2.25 billion.

The loan consists of $1.5 billion for Nigeria’s reforms for economic stabilisation to enable transformation (RESET) development policy financing program (DPF) and $750 million for Nigeria’s accelerating resource mobilisation reforms (ARMOR) program-for-results (PforR).

In the programme appraisal document, the World Bank said the ARMOR programme contains revenue policy measures such as raising pro-health taxes on tobacco, and alcohol.

The Bretton Woods institution also said the programme contains the introduction of taxes on online betting and gambling, as well as new excise on telecommunication services.

Experts have however warned that these taxes would have severe consequences for investment and the operational viability of telecom companies.

According to them, higher taxes would hinder digitalization efforts, which are crucial for economic growth.

The proposed tax measures, according to the industry, are not only damaging to the telecom sector but also to the broader economy.

 

 


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EFCC, Flutterwave to Establish Cybercrime Centre for Security of Transactions

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Economic and Financial Crimes Commission (EFCC) and Flutterwave, unicorn payments technology company have signed a Memorandum of Understanding (MoU), to establish and a state-of-the-art Cybercrime Research Centre.

EFCC, Flutterwave to Establish Cybercrime Centre for Security of Transactions

Areas of focus of the centre include advanced fraud detection and prevention, policy development, as well as youth empowerment.

The fintech company with fortunes worth over $1bn headquartered in San Francisco with footprints in Nigeria and other African countries said the centre would also provide a “sustainable lifeline to youths across the country”.

To this effect, the Silicon Valley-based company signed a Memorandum of Understanding with the anti-graft agency in Abuja.

Ola Olukoyede, chairman, EFCC; Olugbenga Agboola, founder, Flutterwave; Christopher Gray, director of Federal Bureau of Investigations (FBI); and other senior officials from both the EFCC and the FBI witnessed the signing of the MoU

Specifically, the MoU was signed by Mohammadu Hammajoda, secretary, EFCC and Agboolaof Flutterwave.

Olukoyede said, “This partnership marks a significant leap forward in our efforts to combat financial crimes and ensure a secure financial landscape for Nigerians. The Cybercrime Research Centre will significantly enhance our capabilities to prevent, detect, and prosecute financial crimes.”

On his part, Agboola said, “This initiative underscores our commitment to creating a fraud-free financial ecosystem and leading the charge in safeguarding transactions across Africa.

“We applaud the EFCC’s relentless efforts to combat internet fraud and other illicit activities in the financial sector.”

The Cybercrime Research Centre, to be established at the new EFCC Academy in Abuja, would serve as a hub for advanced research, training, and capacity building in the fight against financial crimes.

Areas of focus of the centre include advanced fraud detection and prevention, collaborative research and policy development, youth empowerment and capacity building, technological advancement and resource enablement, among other key areas.

“Advanced Fraud Detection and Prevention: Developing and implementing cutting-edge technologies to detect and prevent financial fraud. The centre will offer comprehensive training for law enforcement and industry professionals to combat modern financial crimes effectively.

“Collaborative Research and Policy Development: Engaging in joint research initiatives and policy formulation to enhance the understanding and regulation of financial crime. The centre will provide a platform for the exchange of ideas and best practices between the public and private sectors.

“Youth Empowerment and Capacity Building: Providing high-end training and research opportunities for 500 youths, equipping them with the skills needed to navigate and excel in the digital economy.

“Technological Advancement and Resource Enablement: Creating a repository of advanced tools, technologies, and resources to support financial crime investigations, including protocols for addressing emerging threats such as cryptocurrency-related crimes,” the statement concluded.

Birthed in 2016 by Agboola, fondly referred to as GB, Flutterwave, with its corporate headquarters in San Francisco and operational head office in Lagos State, grew within a short time, penetrating the African market with customisable payments applications through its unique Application Programming Interface.

 

 


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