https://www.engineeringnews.co.za
Africa|Energy|Gas|Gas-to-power|generation|Industrial|Infrastructure|Petroleum|Power|PROJECT|Projects|Renewable Energy|Renewable-Energy|Resources|SECURITY|Sustainable|Power Generation|Power-generation|Infrastructure
Africa|Energy|Gas|Gas-to-power|generation|Industrial|Infrastructure|Petroleum|Power|PROJECT|Projects|Renewable Energy|Renewable-Energy|Resources|SECURITY|Sustainable|Power Generation|Power-generation|Infrastructure
africa|energy|gas|gas-to-power|generation|industrial|infrastructure|petroleum|power|project|projects|renewable-energy|renewable-energy-company|resources|security|sustainable|power-generation|power-generation-industry-term|infrastructure

Mahlako Gas Energy invests in Tetra4 after it secures onshore petroleum licence

6th February 2024

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

Font size: - +

Gas asset investment company Mahlako Gas Energy (MGE) has concluded its investment in Tetra4, which holds South Africa’s first onshore petroleum production licence.

MGE, which now holds a 5.5% stake in Tetra4, is in a strategic partnership with gas producer Renergen to further diversify South Africa’s sources of primary energy through the production of indigenous natural gas, as well as helium for industrial use.

Through Tetra4 – a Renergen subsidiary – South Africa has joined the ranks of only eight countries in the world to produce liquid helium. Helium is an essential element required in many industries. It is typically recovered as a by-product of natural gas.

The liquid helium produced from the Virginia Gas Plant will be predominantly used for exports to meet global demand, with countries such as the US consuming about 35 000 kg a day of helium.

“Further, this investment aligns seamlessly with the shared vision for a just energy transition during a crucial period of the energy crisis in the country. The project not only enhances domestic energy production, reducing reliance on imports, but also introduces a cleaner energy source to contribute to South Africa's sustainable future,” MGE comments.

MGE is comprised of fund management companies Mahlako Energy Fund and Thirdway Investment Partners Fund I. Both bring significant experience to Tetra4 and are women-led investment teams known for their successful track record in investing in transformative and impactful energy infrastructure projects.

“Our commitment symbolises our dedication to promoting economic transformation and diversity within the energy sector. Together, we embark on a journey towards a cleaner energy future for South Africa,” says Mahlako Energy Fund co-principal Meta Mhlarhi.

South Africa aims to strategically address its long-term capacity needs outlined in the Integrated Resources Plan (IRP) 2023.

“This investment speaks to the IRP's overarching goals of ensuring security of supply, enhancing energy affordability, and actively contributing to carbon emission reductions.

“We are enthusiastic about the opportunities that lie ahead and the positive impact our partnership will have in the energy transition for our country,” says Mahlako Energy Fund co-principal Makole Mupita.

“This investment aligns strongly with the draft IRP 2023 which sees a doubling of the allocation to dispatchable gas to power, which will allow for the introduction of a greater amount of intermittent renewable energy capacity to the network, while reducing the overall carbon intensity of the power generation sector,” she adds.

Meanwhile, the Mahlako Energy Fund is dedicated to taking a prominent role in advancing South Africa's energy security. Guided by the principle that substantial growth hinges on energy, it, with its expanding portfolio and deal pipeline, aims to serve as a catalyst in guiding the energy sector towards a positive trajectory.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 04 October 2024
Magazine round up | 04 October 2024
4th October 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.146 0.203s - 208pq - 2rq
Subscribe Now