Joint Venture Set to Deliver Tailored Cleaner Energy Solutions Across Africa
Dubai, UAE – November 12, 2024 –Twenty20 Energy and Agile Power Group are pleased to announce the formation of Twenty20 Africa, a strategic joint venture to deliver tailored energy solutions that drive both economic and sustainable growth across the African continent.
By combining Twenty20 Energy’s global delivery expertise, in house engineering capabilities and innovative technologies alongside Agile Power Group’s deep market insights and extensive experience in power generation throughout the African continent, Twenty20 Africa is ideally positioned to deliver scalable, transition energy solutions that accelerate the continents development.
Harnessing Africa’s abundant renewable resources – solar, wind, geothermal and hydropower – and supporting them with thermal generation for cost effective reliable base load where needed the joint venture will offer both on-grid and off-grid solutions to meet both immediate energy needs as well as the long-term transition energy solutions which can deliver long term reliable power for communities with the minimum impact to the environment.
Key Focus Areas of Twenty20 Africa
- Utilisation of Renewable Energy: Africa’s renewable energy potential spans wind, solar, hydro, and geothermal resources, each with regions uniquely suited for their development. Maximizing these resources strategically to bolster national grids will be pivotal for the continent’s advancement—initially meeting local energy demands and positioning Africa as a future global energy provider. Local energy demands, and as an energy source for the wider globe in the future.
- Reliable Thermal Power with Minimum Emissions: Reliable power is a fundamental need, essential for growth in critical areas such as industry, education, and healthcare. While renewables play a significant role, they cannot always ensure 24/7 power. Thus, a balanced energy mix that includes thermal generation is necessary. Where feasible, natural gas should be prioritized, and in its absence, emissions should be minimized. As gas becomes more available, transitioning existing coal assets to gas power can reduce emissions by approximately 50% while preserving infrastructure with minimal capital investment.
- Grid Development and Support: Beyond power generation, reliable and efficient distribution to end users is essential for a robust energy strategy. Building strong distribution networks will expedite the continent’s development.
- Off Grid Solutions: While grid development is important, some areas require practical, standalone solutions. Remote locations need dependable 24/7 power with robust backup systems, supported by tailored spare parts, supply chain logistics, and maintenance plans that address specific geographical challenges.
- Increased Access to Power: T20’s Power Island technology offers small-scale gas-fired generation solutions for remote coastal and riverine communities, providing cost-effective power without extensive infrastructure investments for long grid connections or roads. This can significantly benefit underserved areas.
- Enabling Hydrogen Fuel: Decarbonizing the power sector is vital for reducing emissions. Additionally, hydrogen as a fuel source for vehicles presents an opportunity to further enhance emission reductions across the continent
- Integrated Infrastructure: Comprehensive infrastructure investment is needed across energy, transport, and healthcare sectors. An integrated energy approach can achieve economies of scale and drive innovation, enhancing operational efficiency.
Statements from Leadership
Iain Deay, Chief Strategy & Development Officer of Twenty20 Energy, commented:
“We are thrilled to join forces with Agile Power Group. By combining our innovative
solutions and expertise with Agile’s detailed local expertise and knowledge, we are ideally positioned and fully committed to playing a key role in Africa’s energy transition.”
Patrick O’Driscoll, Managing Partner of Agile Power Group, commented:
“Our combined strengths will allow us to deliver innovative energy solutions that address the unique challenges across the continent. We are excited to be part of this journey, empowering communities across Africa.”
About Twenty20 Energy
Twenty20 Energy delivers innovative energy solutions that enable clients, partners, and stakeholders to accelerate the transition to a cleaner energy future. From concept development to operations and maintenance, Twenty20 Energy provides engineering, project execution and asset management through long term operations and management solutions, coupled with the capacity to provide funding or participate in shared project ownership. Uniquely positioned in the energy landscape, Twenty20 Energy has a global reach with local sensitivity, developing projects that deliver cleaner energy while empowering economic growth for today and beyond. For additional information please visit
www.twenty20energy.com.
About Agile Power Group
Agile Power Group is a global leader in power project management, offering a comprehensive range of services including project development, engineering, and operations. Renowned for its innovative approach, Agile Power Group addresses complex power and energy challenges through bespoke solutions, leveraging its in-house expertise across various sectors. The company has extensive experience across the African continent, with its leadership having operated in over 35 African countries and managed over 2 GW of power projects in the region. By working collaboratively with both the public and private sectors throughout the entire project lifecycle, Agile Power Group ensures project stewardship and achieves long-term sustainability goals for the greater good. For additional information please visit www.agilepowergroup.com
Contact
Maher Rabah
Investor Relations & Corporate Communications Director
m.rabah@twenty20energy.com
Forward-Looking Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.