• Home
  • Market Watch
  • Commitment to oil, renewables not contradictory, Alweendo says
ENERGY BALANCE: Mines minister Tom Alweendo. PHOTO: FILE
ENERGY BALANCE: Mines minister Tom Alweendo. PHOTO: FILE

Commitment to oil, renewables not contradictory, Alweendo says

Balancing act to ensure energy security
Mines minister Tom Alweendo says Namibia must be allowed to exploit its oil and gas resources to aid development while pursuing its long-term vision for renewable energy.
Ogone Tlhage
Mines minister Tom Alweendo has reiterated his stance that Namibia’s commitment to its oil and gas resources does not impede its goal of pursuing net neutrality.

Defending his stance, Alweendo said the government was not following a contradictory path but is embarking on a path towards sustainable development.

“Our commitment to both hydrocarbons and renewable energy isn’t a contradiction; rather, it’s a deliberate strategy to address the energy poverty many developing countries still face while building a sustainable future,” Alweendo said.

Alweendo said recent discoveries by oil majors Shell, TotalEnergies and Galp in the Orange Basin off the southern coast of Namibia present the country with an opportunity to become major players in the energy sector.

“The recent oil discoveries present a tremendous opportunity for us to become a key player in energy production,” he said.

Energy security paramount

Government’s commitment to net neutrality is further strengthened by opportunities identified in the green hydrogen space, where it is seeking renewable energy projects geared towards the long term.

“At the same time, our progress in green hydrogen reflects our long-term vision for renewable energy,” Alweendo said.

Namibia’s transition toward a renewable energy agenda would further be guided by the realities fitting its circumstances, Alweendo said.

“While we share the global ambition of reaching net zero, Namibia deserves a transition that fits our realities. We cannot afford a rushed shift that compromises our energy security or leaves anyone behind,” Alweendo said.

“By balancing hydrocarbons with renewables, we will achieve energy prosperity on Namibia’s terms – securing economic growth today while building a cleaner, greener tomorrow,” he added.

Comments

Namibian Sun 2024-11-08

No comments have been left on this article

Please login to leave a comment

#N/A Currency: GBP to NAD 22.63 | EUR to NAD 18.85 | CNY to NAD 2.44 | USD to NAD 17.49 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.25 | EGP to NAD 0.35 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.63 | ZWL to NAD 0.04 | BRL to NAD 3.06 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 132.85 | USD to AOA 909.05 | USD to BWP 13.4 | USD to EGP 49.25 | USD to KES 129.2 | USD to NGN 1680.41 | USD to ZAR 17.49 | USD to ZMW 27.15 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1878.29 Up +1.09% | Casablanca Stock Exchange (CSE) MASI 14487.67 Up +1.33% | Egyptian Exchange (EGX) 30 Index 31267.47 Up +0.72% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 692.52/OZ DOWN -0.0053 | Copper US$ 4.33/lb DOWN -0.0206 | Zinc US$ 3 004.80/T DOWN -1.88% | Brent Crude Oil US$ 75.28/BBP DOWN -0.0084 | Platinum US$ 982.39/OZ DOWN -0.0148 #N/A