St Kitts and Nevis creates new opportunities for business by rooting out corruption

Basseterre, Nov. 09, 2022 (GLOBE NEWSWIRE) — The new administration of St Kitts and Nevis is committed to rooting out corruption and providing fertile new ground for business with its Anti-Corruption Act.

The Prime Minister of St Kitts and Nevis, Terrance Micheal Drew is looking to unleash the full potential of the country through proactive policymaking, instilling good governance and eradicating corruption. In this way, the government sees the new Anti-Corruption Act as one step towards reactivating its infrastructural and social growth and building a more resilient and inclusive economy.

The proposed Act will enable the appointment of a Special Prosecutor who will examine and prosecute criminal acts of corruption in the civil services, statutory boards and government-owned companies.

St Kitts and Nevis’s anti-corruption efforts are thus an essential part of a broader plan to attract international business and investors to the country. The country’s focus on ensuring ease of business and eradicating corruption has, in particular, generated significant interest from West African investors who are eager to launch their businesses overseas.

The wider aim of the anti-corruption drive is to promote ease of business in the country, with St Kitts and Nevis inviting investors to be part of its economic development. The government under the leadership of Prime Minister Drew, is specifically focused on formulating policies that attract Foreign Direct Investments (FDIs) to the country.

While corruption is a global problem, the Corruption Perception Index (CPI) ranks sub-Saharan African as having notably high levels of perceived corruption. In West Africa, particularly Nigeria, corruption has become a massive obstacle to business, undermining public trust, distorting markets and increasing costs to firms.

PricewaterhouseCoopers (PwC), a leading professional services network headquartered in London (UK), recently published a study indicating that Nigeria’s corruption could cost it up to 37% of its GDP by 2030 if it’s not dealt with immediately. The report further highlights the significant impact of corruption on Nigerians – including its wide-ranging effects on finance, business investment and standards of living.

All these difficulties are prompting West African investors to look further afield for business opportunities that offer safe and profitable returns. Many of these investors are turning to St Kitts and Nevis.

As an indicator of its commitment to citizens and investors, the government of St Kitts and Nevis is taking strict and serious action to ensure transparency in government. These measures and the general ease of doing business in the country are proving attractive to Nigerian investors who, facing a difficult situation at home, are looking to expand their horizons.

Meeting this interest is St Kitts and Nevis’s Citizenship by Investment Programme (CBI). For nearly four decades the programme has been inviting people to invest in the country as a route to gaining citizenship. Through an investment in the country’s Sustainable Growth Fund (SGF), investors are granted alternative citizenship, including the ability to conduct business freely in the country.

The CBI programme also helps investors to gain access to the world’s most exclusive markets, assisting with the expansion of business beyond national borders. Since St Kitts and Nevis is just a short flight away from the USA, citizens have the additional benefit of easy accessing the international community.

Alternative citizenship in St Kitts and Nevis is therefore becoming a crucial part of many individuals’ wealth diversification plans. Prospective Nigerian investors are viewing it as a means to preserve their wealth within an economically stable context, appreciating that St Kitts and Nevis’s economy is growing and free from the political and social conflicts that impact financial growth.

Along with a safe and corruption-free environment, St Kitts and Nevis offers a number of advantages to investors in its CBI programme. These include hassle-free global travel, citizenship for life which can also be passed on to future generations, a smooth and straightforward application process with the ability to add additional dependants to one application, possibilities for wealth diversification, and a host of new business opportunities.

Despite being the smallest country in the Western hemisphere, St Kitts and Nevis has been proving its potential to foreign investors. With a hospitality and service industry that has garnered international critical acclaim, the country also boasts one of the most robust and modernised public health infrastructures in the region.

St Kitts and Nevis’s education system now also offers advanced learning possibilities for all its citizens. This has proved a distinct benefit to investors, since the country allows investors the ability to pass their citizenship on to future generations. Thus investors and their families can enjoy the various rights and advantages open to those born in the country.

But it is not only Nigerians who have been thinking about personal wealth solutions in an unstable political and economic environment. Given the recent turmoil and instability of global markets, investors from around the world have been looking to St Kitts and Nevis’s CBI programme as a “Plan B” that can ensure financial and personal security.

Many investors have found that living in St Kitts and Nevis has had a positive impact on their mental health. Not only does the country provide its inhabitants with a tranquil environment of beaches and mountains to explore, but with the security and stability required to grow a business or provide for a family. As St Kitts and Nevis rolls out its good governance and transparency agenda, investors look on keenly to partake in its future.

PR St Kitts and Nevis
Government of St. Kitts and Nevis
mildred.thabane@csglobalpartners.com

GlobeNewswire Distribution ID 8692970

L’Indonésie en passe de devenir le centre mondial de l’économie de la charia

DUBAÏ, Émirats arabes unis, 9 novembre 2022 /PRNewswire/ — PT Bank Syariah Indonesia Tbk (BSI) a affirmé l’engagement de l’Indonésie à devenir l’un des centres de la finance islamique mondiale, à travers l’introduction de quatre programmes visant à renforcer cet écosystème en Indonésie et à l’étranger.

Vice President Ma'ruf Amin accompanied by President Director of Bank Syariah Indonesia Hery Gunardi (second right), Compliance & HR Director of Bank Mandiri Agus Dwi Handaya (left) and Principal Representative Office of BSI Dubai Dian Faqihdien Suzabar when visiting Dubai Representative Office of PT Bank Syariah Indonesia Tbk.

Le ministre des entreprises publiques, Erick Thohir, a dirigé la préparation par les ministères de quatre programmes phares pour former cet écosystème. Le premier est le développement du marché de l’industrie halal dans le pays et à l’étranger. Le deuxième est le développement de l’industrie financière de la charia. Le troisième est l’investissement amical impliquant des entrepreneurs locaux. Et le quatrième, la croissance continue de l’économie de la charia dans les zones rurales.

Reconnaissant le potentiel de l’économie de la charia en Indonésie, le ministre Erick Thohir a exprimé son désir que les Indonésiens ne soient pas seulement des consommateurs de produits halal importés, mais aussi des producteurs. « Nous devrions être les producteurs et un acteur mondial. Mais cela serait impossible sans un système financier solide fondé sur la charia », a déclaré Erick Thohir.

Selon le rapport sur les indicateurs de l’état de l’économie islamique mondiale (« The State of Global Islamic Economy »), l’Indonésie a continuellement affiché une croissance significative. En 2019, le pays figurait parmi les 10 premiers pays de l’économie de la charia dans le monde. En 2020, ce rang a été relevé, plaçant l’Indonésie dans les cinq premiers.

Erick Thohir a créé la holding de la banque charia de l’État, la PT Bank Syariah Indonesia (BSI). La BSI est le résultat de la fusion de trois banques charia, à savoir la BNI Syariah, la BRI Syariah et la Bank Syariah Mandiri, qui a été inaugurée le 1er février 2021. La BSI est la plus grande banque islamique et la 7e plus grande banque d’Indonésie.

Le vice-président de la République d’Indonésie Ma’ruf Amin a déclaré, « La BSI devrait pouvoir faire de l’Indonésie le centre de l’industrie de la charia et de l’écosystème halal mondial. » « Notre espoir est que la BSI joue ce rôle non seulement au niveau national, mais aussi au niveau mondial. Par analogie, les banques islamiques ne jouent plus seulement dans une petite piscine, mais sont capables de nager dans le vaste océan », a déclaré Ma’ruf Amin, lors d’une visite au bureau de représentation de la BSI à Dubaï, Émirats arabes unis, le 4 novembre 2022.

Hery Gunardi, président-directeur de la BSI, a déclaré que la banque s’engageait à soutenir pleinement toutes les initiatives visant à renforcer l’écosystème dans le but de devenir le centre de gravité mondial de l’économie de la charia. La BSI, a-t-il dit, n’a cessé de développer l’écosystème financier de la charia dans le pays.

« L’Indonésie a un grand potentiel dans l’industrie halal », a ajouté Hery Gunardi. En effet, plus de 229 millions de personnes sont musulmanes, ce qui représente 87,2 % de la population totale du pays. Le potentiel de l’industrie alimentaire halal s’élève à 164,76 milliards de dollars. D’autres secteurs potentiels sont l’habillement (20 milliards de dollars), les médias halal (9,52 milliards de dollars), le tourisme halal (10,48 milliards de dollars), l’industrie de la santé (4,76 milliards de dollars), les cosmétiques halal et le hajj et la oumra (3,81 milliards de dollars). D’autres activités liées à la charia, comme l’investissement, ont un potentiel d’environ 122,65 milliards de dollars.

La BSI a également commencé à s’implanter sur le marché mondial. L’une d’entre elles est située au Moyen-Orient dans le cadre de la coopération avec des conglomérats internationaux et des startups à Dubaï, aux Émirats arabes unis, ce qui marque également l’expansion de la plus grande banque islamique d’Indonésie sur la scène mondiale. Cette étape a permis d’accélérer la prise en compte de la BSI au sein de la communauté internationale en augmentant ses capacités, sa compétitivité et sa réputation. La présence de réseaux commerciaux à l’étranger permet à la BSI d’interagir directement avec des composantes importantes du secteur bancaire mondial.

Hery Gunardi espère que la BSI se rapprochera des investisseurs mondiaux afin que la société puisse contribuer davantage au soutien des programmes du gouvernement de la République d’Indonésie, à la fois en finançant des projets d’infrastructure et de développement par l’émission du fonds Global Sukuk et en soutenant le développement des MPME nationales.

La BSI a maintenu ses performances positives au troisième trimestre 2022, réalisant un bénéfice net de 218,36 millions de dollars, soit une croissance de 42 % (sur 12 mois). Ces performances ont également été soutenues par la confiance du public, comme le prouve la hausse de 11,86 % des fonds de tiers qui ont atteint 16,68 milliards de dollars.

Le secteur du financement a également connu une croissance significative. Le financement de la BSI dans son ensemble a enregistré 13,59 milliards de dollars, soit une croissance de 22,35 %. Par segments, c’est le micro-financement qui a le plus contribué avec 37,32 %. Le financement à la consommation a augmenté de 25,26 %, le financement de gros de 21,79 %, le financement par cartes de crédit de 35,81 % et le prêt sur gage d’or de 30,15 %. De plus, le financement non performant (FNP) net n’était que de 0,43 %.

La croissance de 11,53 % des actifs témoigne également de performances solides et saines. La BSI s’est également efforcée d’optimiser ses coûts, comme en témoigne le meilleur ratio BOPO de 74,02 %. Jusqu’en septembre 2022, on comptait déjà 4,44 millions d’utilisateurs de BSI Mobile, en hausse de 43 % par an. D’après les profils des clients de la BSI, 97 % d’entre eux ont adopté le canal électronique pour leurs activités bancaires. Les transactions cumulées de BSI Mobile ont atteint 187,20 millions de transactions.

Le financement durable a atteint 3,47 milliards de dollars, soit 25,54 % du financement total de la BSI. « La promotion du financement durable est l’un de nos engagements dans le cadre de nos responsabilités sociales et environnementales dans diverses régions du pays, ainsi que notre soutien à la présidence indonésienne du G20 », a ajouté Hery Gunardi.

Photo – https://mma.prnewswire.com/media/1941007/TRW2022_1_25.jpg

Morrow Sodali Fortalece sua Posição de Liderança no Mercado com a Nova Aquisição Australiana

Aquisição das principais comunicações financeiras australianas e do player de relações com investidores, a Citadel-MAGNUS impulsionará o rápido crescimento e a expansão significativa

NOVA YORK, Nov. 09, 2022 (GLOBE NEWSWIRE) — Morrow Sodali, empresa líder mundial em engajamento de acionistas e assessoria em governança, anunciou hoje a aquisição da agência australiana de comunicação financeira e relações com investidores, Citadel-MAGNUS, a primeira desde que a TPG Growth garantiu a participação majoritária em abril deste ano.

A aquisição sediada na Austrália representa uma expansão significativa da oferta de serviços da Morrow Sodali na região da APAC, para atender à demanda global de rápido crescimento de corporações para comunicações estratégicas e serviços de engajamento com investidores.

A combinação da Morrow Sodali e da Citadel-MAGNUS traz junto duas consultorias de confiança e líderes de mercado para oferecer o melhor aconselhamento estratégico da categoria e suporte aos nossos clientes. A Citadel-MAGNUS estará completamente integrada na Morrow Sodali, permitindo à firma fornecer uma oferta contínua e a mais ampla suíte de relações com investidores e soluções de comunicação para empresas listadas e privadas, com o objetivo de implementar os serviços expandidos a outros mercados.

A aquisição marca um significativo passo adiante na estratégia da Morrow Sodali de acelerar seu crescimento investindo em serviços que criam valor para seus clientes ao redor do mundo.

Alvise Recchi, CEO da Morrow Sodali, comentou: “Como parte da estratégia de crescimento global estratégico da Morrow Sodali, a adição da Citadel-MAGNUS expandirá nossa oferta de serviços para abranger um conjunto mais amplo de serviços de assessoria de Conselho, Diretoria Executiva e ESG, Relações com Investidores e Comunicações Financeiras. Estamos entusiasmados para ver o potencial desta oportunidade emocionante concretizado, à medida que continuamos a crescer em novos mercados em todo o mundo.”

Christian Sealey, CEO de Negócios Internacionais da Morrow Sodali, acrescentou: “Cada vez mais, nossos clientes estão vindo até nós em busca de aconselhamento e assistência em uma grande variedade de áreas que abrangem comunicação com os acionistas, engajamento de stakeholders, inteligência do mercado de capitais, governança corporativa e consultoria ESG. A aquisição da Citadel-MAGNUS nos permite fornecer soluções estratégicas para nossos clientes e nos posiciona de modo singular, para nos tornarmos o parceiro de confiança permanentemente escolhido.”

Peter Brookes, Diretor Geral Conjunto da Citadel-MAGNUS, afirmou: “Nossa equipe está entusiasmada em unir forças com a Morrow Sodali. Estamos vendo uma necessidade crescente de fornecer aos clientes uma oferta de ponta-a-ponta em todo o calendário financeiro e uma atividade direcionada por eventos cada vez mais complexos, onde a boa comunicação é fundamental. A combinação de nossas firmas reúne duas empresas de consultoria líderes e confiáveis, profundamente integradas à Austrália corporativa e que compartilham um forte foco na entrega de serviço excepcional ao cliente.”

Sobre a Morrow Sodali

Morrow Sodali é uma empresa global de consultoria corporativa que oferece consultoria e serviços abrangentes relacionados à governança corporativa, ESG, sustentabilidade, solicitação de procuração, inteligência dos mercados de capitais, engajamento de acionistas e detentores de títulos, fusões e aquisições, ativismo e situações contestadas.

Com sede em Nova York e Londres e escritórios nos mercados de capitais globais, a Morrow Sodali atende a mais de 1.000 clientes, em mais de 80 países, incluindo muitas das maiores corporações multinacionais do mundo. Os clientes incluem empresas listadas em bolsa e privadas, grupos de fundos mútuos, bolsas de valores e organizações de associação por inscrição.

Em 2022, a Morrow Sodali está comemorando seu 50o aniversário, e também garantiu um investimento majoritário da TPG Growth, a plataforma de middle market e de capital de crescimento da empresa de ativos alternativos TPG. Esta parceria promoverá significativamente a missão da empresa de fornecer a clientes em todo o mundo aconselhamento estratégico incomparável e suporte abrangente, permitindo que maximizem o valor e gerenciem habilmente as relações com acionistas.

Para obter mais informações sobre a Morrow Sodali, visite www.morrowsodali.com.

Sobre a Citadel-MAGNUS

A Citadel-MAGNUS é uma empresa líder em comunicação corporativa e financeira, com escritórios em Sydney e Perth, atendendo clientes em toda a Austrália e internacionalmente.

Estabelecemos a reputação de entregar resultados excepcionais para nossos clientes por meio de relacionamentos confiáveis, integridade e excelência profissional. Nossa prioridade é apoiar os objetivos de negócios de nossos clientes por meio de uma comunicação eficaz e um nível superior de serviço.

A Citadel-MAGNUS traz uma profundidade incomparável de mercados financeiros, experiência corporativa e de mídia para ajudar as empresas a resolver os desafios atuais de um ambiente de negócios altamente competitivo e em constante mudança. Trabalhamos com empresas de todos os setores e de todos os portes, e nosso sucesso levou a parcerias estabelecidas e de longo prazo com líderes empresariais e empresas.

Para mais informações, acesse www.citadelmagnus.com.

CONTATO:

Elena Cargnello

Diretora Corporativa, Marketing

e.cargnello@morrowsodali.com

+44 (0)20 4513 6913

GlobeNewswire Distribution ID 1000755852

Macron Ends France’s Africa Mission, Ponders New Strategy

French President Emmanuel Macron on Wednesday announced that France was ending its Barkhane anti-jihadist mission in Africa after over a decade, saying a new strategy would be worked out with African partners.
The declaration came in a wide-ranging speech reviewing France’s strategy where the president also underlined the importance of its nuclear deterrent, as well as relations with Germany and the United Kingdom despite recent tensions.
Macron laid out his strategic defense priorities for France in Europe and Africa in the coming years, not least in response to Russia’s invasion of Ukraine and a growing international assertiveness of China.

“I have decided, in coordination with our partners, to make official today the end of the Barkhane operation,” Macron said in the keynote speech on military policy to top generals and diplomats aboard a helicopter carrier Mediterranean naval base at Toulon.
The move was the “consequence of what we have experienced” in recent months, and a new strategy would be worked out within the next half-year, he added.
“Our military support for African countries will continue, but according to new principles that we have defined with them,” said Macron.
No ‘unlimited’ deployment
He indicated that future strategy would be based on a far closer cooperation with African armies to make France’s own deployment lighter and more dynamic.
French forces have faced growing hostility from some who see them as the ineffective occupying force of a former colonial power, and Macron pulled troops out of Mali this year as relations soured with the country’s military rulers.
Around 3,000 French soldiers remain in Burkina Faso, Chad and Niger. There are no immediate plans for a reduction in numbers.
Macron said that in the coming days exchanges would be launched with African nations and regional organizations and allies “to change the status, format and mission” of French bases in Africa.
“Our interventions should have better time limits and from the very start. We do not want to remain engaged for an unlimited time in foreign operations,” he said.

The French deployment was launched in 2013, when jihadists took over much of northern Mali before being turned back.
But the rebels regrouped and soon the region was targeted by other Islamist insurgencies that are now looking to push south toward the Gulf of Guinea, experts say.
‘Indispensable partner’
He revealed that Britain and France will hold a summit in the first quarter of 2023 aimed at reinforcing their military and defense cooperation, in a new sign of a reset under new Prime Minister Rishi Sunak.
“Our partnership with the United Kingdom must also be raised to another level,” Macron said.
“I hope that we will actively resume our dialogue on operations, capacities, nuclear and hybrid areas and renew the ambitions of our two countries as friends and allies.”
Macron also insisted on the need for deeper military cooperation with Germany, and “indispensable partner” for building up Europe’s military autonomy.

The two countries have agreed to work notably on next-generation fighter jets and tanks, but both projects have reportedly stalled on divergences over technical needs and how to share production.
“The success of the European project depends in large part, I believe, on the balance of our partnership,” Macron said.
“In that regard I hope that we can make decisive progress in the coming weeks.”
Nuclear deterrent
Macron added that the French nuclear deterrent contributed to the security of Europe, after sparking a controversy with recent comments over what circumstances would cause France to use its atomic weapons.
“Today, even more than yesterday, the vital interests of France have a European dimension. Our nuclear forces therefore contribute by their own existence to the security of France and Europe”, he said.
“Don’t forget that France has nuclear deterrent and don’t dramatize a few remarks,” he added.
Macron in October in an interview had appeared to cast doubt on whether France would contemplate striking back if Russia attacked Ukraine with a tactical nuclear weapon.
“Our [nuclear] doctrine is based on what we call the fundamental interests of the nation and they are defined in a very clear way. It is not at all what would be affected if there was a ballistic nuclear attack in Ukraine or the region,” he then told the France 2 channel.

Source: Voice of America

African Nations Closely Watch US Midterm Results

With control of Congress still undecided a day after the U.S. midterm elections, African leaders and political analysts are closely watching for signs of what impact the outcome could have on the continent.
African analysts say their biggest concern is how this contentious poll could affect U.S. standing around the world — especially in African nations that have seen democratic backsliding.
There are also economic concerns over how the U.S. responds to rising inflation around the world. Wednesday trading showed that African markets were closely watching the impact on the most popular U.S. export: the dollar.
On a more personal level, communities in the U.S. and in Africa celebrated wins by American candidates of African origin, and bid goodbye to two retiring senators who took a deep interest in the continent.
U.S. democracy matters abroad
African political analyst Ebenezer Obadare told VOA that policymakers on the continent were most focused on possible fallout that could affect Washington’s global standing.
“Political polarization in the U.S. — and the subsequent ripples — has deepened anxiety about the prospects of democracy globally,” said Obadare, an analyst from the Council on Foreign Relations. “For one thing, many African policymakers are worried that, depending on the outcome, the U.S. may not be in a situation to pursue the goals outlined in the recently launched U.S. strategy towards sub-Saharan Africa.”
In August, the Biden administration launched that strategy saying it “welcomes and affirms African agency and seeks to include and elevate African voices in the most consequential global conversations.”

Obadare says he’s more worried about the U.S. losing its own voice amid divisive political rhetoric or politically motivated unrest.
“Right now, much more than material support for transitioning countries, Africa needs the U.S. itself to remain democratic,” Obadare said. “There is genuine worry that if the elections get messy or are inconclusive, the U.S. might lose its gravitas and the moral authority to intervene in the political process in Africa and other developing regions.”
African wins
The midterms saw wins by multiple candidates of African origin, which were welcomed in both the diaspora community and on the continent.
Those include at least eight female Somali-American candidates who, along with one Somali-American man, won national and local-level races in Minnesota, North Dakota, Ohio and Maine; at least eight Nigerian-American candidates who won in Georgia and the District of Columbia; and others with close ties to the continent, such as Democratic Rep. Joe Neguse of Colorado, who is the son of Eritrean immigrants.
The most prominent of those victors is Somalia-born Democratic Rep. Ilhan Omar, who was handily re-elected to her seat in Minnesota’s 5th district.

Her success abroad stands in stark contrast to her counterparts in Somalia, such as Fawzia Yusuf Haji Adam, the only female presidential candidate who contested the nation’s May 15 election. She got only one vote — her own.
“This is a victory for Somali women in the diaspora,” Adam said. “I congratulate them, I encourage them, and we are proud of them.”
Goodbye to some Africa hands
The midterms also saw the departure of two retiring Republican senators who have taken an interest in Africa: Senators Jim Inhofe, of Oklahoma, and Rob Portman of Ohio.
Inhofe recently concluded his final congressional trip to the continent, in which he visited Ethiopia, Kenya and Rwanda. He said he was confident that the continent would continue to receive attention from U.S. lawmakers.
“It is bittersweet to visit Africa one last time before my departure from the U.S. Senate,”Inhofe said, urging continued U.S. military presence in East Africa.
“The presence of U.S. military across Africa, while small, means a great deal to our friends and is a worthwhile investment for the United States. In each country, it was clear that a strong and robust relationship with the United States has helped spur economic growth and regional stability across the continent. I have faith that my colleagues in the House and Senate will continue the U.S.-Africa friendship long after I have retired from the Senate.”
Overall, said Mvemba Phezo Dizolele, director of the Africa Program at the Center for Strategic and International Studies, this election won’t negatively affect U.S. engagement. He cited what he described as “strong supporters of Africa” in the committees on Foreign Relations and Appropriations, such as Sens. Chris Coons, James Risch and Lindsey Graham.
“Overall, the midterms will not change much with regard to U.S. engagement with Africa,” he said. “Africa will continue to command a bipartisan engagement in the foreseeable future both in the lower chamber and the Senate.”

Source: Voice of America

Hitachi Energy to provide world’s first SF6-free 420 kV gas-insulated switchgear technology at TenneT’s grid connection in Germany

Contributing to TenneT’s carbon neutrality goals to build a sustainable and resilient grid in Germany

Zurich, Switzerland, Nov. 09, 2022 (GLOBE NEWSWIRE) — Hitachi Energy announced today it will provide the world’s first sulfur hexafluoride (SF6) free 420-kilovolt (kV) gas-insulated switchgear (GIS) technology and a state-of-the-art modular prefabricated grid connection solution at a key node at TenneT’s power grid in Germany, supporting the leading European grid operator to achieve its carbon neutrality goals.

This project covers a major grid connection upgrade which significantly extends the operating life of existing power assets to ensure the longevity and continued efficiency of the existing power infrastructure. The global technology leader will deliver innovative EconiQ™ 420 kV GIS that uses a game-changing technology that eliminates SF6 with reliable and scalable solutions for the lowest carbon footprint.

TenneT is a major transmission system operator in the Netherlands and Germany, supplying power to some 42 million homes and businesses in both countries. The company aims to be a driving force behind the energy transition by investing in eco-efficient technologies to reduce greenhouse gas emissions. As a transmission system operator, TenneT is a key player on the historic path to a safe, reliable and carbon-free energy system.

To support TenneT on its transition to SF6-free solutions, Hitachi Energy will contribute pioneering technologies, unique system integration capabilities, engineering expertise and extensive experience with local grid code requirements to strengthen the grid connection at the 220-megawatt (MW) Erzhausen pumped storage power plant near Hanover. This project uses Building Information Modeling, a consolidated and collaborative digital working method that allows decision-based 3D modeling and improves facility management via a digital twin for the life cycle of the power asset. The entire project will be completed in 2026.

In this project, Hitachi Energy will install three bays of EconiQ 420 kV GIS to enable the transmission of large amounts of electricity over long distances while eliminating significant volumes of SF6. This eco-efficient innovation remains similar in size while being 100 percent as reliable as the conventional GIS solution based on SF6. This installation will effectively avoid the addition of nearly 2,300 kg of SF6, equivalent to removing the CO2 emissions of around 1,1501 passenger vehicles per year.

“We are proud to collaborate with TenneT in their efforts to accelerate the energy transition and strengthen the power infrastructure in Germany,” said Claudio Facchin, Chief Executive Officer of Hitachi Energy. “At Hitachi Energy, we are championing the urgency of the energy transition through innovation and collaboration. Through our modular prefabricated grid connections and EconiQ high-voltage switchgear technology, we are supporting our customers to reduce their carbon footprint and enabling a more sustainable, flexible and secure energy system.”

EconiQ is Hitachi Energy’s eco-efficient portfolio for sustainability, where products, services and solutions are proven to deliver exceptional environmental performance. Hitachi Energy has placed sustainability at the heart of its Purpose and is advancing a sustainable energy future for all.

1 Based on the assumption that a passenger vehicle emits 19 kg CO2 equivalent per 100 km and drives 10,000 km per year.

About Hitachi Energy Ltd.

Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of approximately $10 billion USD.

https://www.hitachienergy.com

https://www.linkedin.com/company/hitachienergy

https://twitter.com/HitachiEnergy

About Hitachi, Ltd.

Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers’ and society’s challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

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Jocelyn Chang
Hitachi Energy Ltd.
+41793847775
jocelyn.chang@hitachienergy.com

GlobeNewswire Distribution ID 8692688

Morrow Sodali renforce sa position de leader du marché avec une nouvelle acquisition australienne

L’achat de Citadel-MAGNUS, acteur clé de la communication financière et des relations avec les investisseurs en Australie, stimulera une croissance rapide et une expansion significative de la société.

NEW YORK, 09 nov. 2022 (GLOBE NEWSWIRE) — Morrow Sodali, le plus grand cabinet de conseil en gouvernance et en engagement des actionnaires au monde, a annoncé aujourd’hui l’achat de Citadel-MAGNUS, agence australienne de communication financière et de relations avec les investisseurs. C’est la première acquisition depuis que TPG Growth a fourni un investissement majoritaire en avril de cette année.

L’acquisition basée en Australie représente une expansion significative de l’offre de services de Morrow Sodali dans la région Asie-Pacifique pour répondre à la croissante et rapide demande globale des sociétés au sujet de communication stratégique et des services d’engagement des investisseurs.

L’alliance de Morrow Sodali et Citadel-MAGNUS réunit deux consultants de confiance et de premier plan sur le marché pour fournir les meilleurs conseils stratégiques et soutenir nos clients. Citadel-MAGNUS sera entièrement intégrée à Morrow Sodali, permettant ainsi à l’entreprise de proposer aux entités cotées et privées une offre homogène et la gamme la plus complète de solutions en ce qui concerne les relations entre investisseurs et la communication stratégique. Le tout dans l’intention de déployer les services étendus vers d’autres marchés.

L’acquisition marque une avancée significative dans la stratégie de Morrow Sodali visant à accélérer sa croissance par l’investissement dans des services qui créent de la valeur pour ses clients du monde entier.

Alvise Recchi, PDG de Morrow Sodali, a déclaré : « Dans le cadre de la stratégie de croissance stratégique mondiale de Morrow Sodali, l’ajout de Citadel-MAGNUS étendra notre offre pour inclure une gamme plus large de services aux conseils d’administration, aux cadres supérieurs, de conseils relatifs à l’ESG, de relations avec les investisseurs et de communications financières. Nous sommes impatients de voir le potentiel de cette opportunité passionnante se réaliser, en même temps que nous continuons de croître sur de nouveaux marchés à travers le monde. »

Christian Sealey, PDG de Morrow Sodali’ s International Business, a ajouté : « De plus en plus, nos clients nous demandent conseil et assistance dans un large éventail de domaines, notamment la communication avec les actionnaires, l’engagement des parties prenantes, les renseignements sur les marchés de capitaux, la gouvernance d’entreprise et les conseils relatifs à l’ESG. L’acquisition de Citadel-MAGNUS nous permet de fournir des solutions stratégiques à nos clients et nous positionne de manière unique pour devenir leur partenaire de confiance, de choix et permanent. »

Peter Brookes, co-directeur général de Citadel-MAGNUS, a déclaré : « Notre équipe est ravie de s’associer à Morrow Sodali. Nous constatons un besoin croissant de fournir aux clients une offre complète tout au long du calendrier financier et au milieu d’une activité de plus en plus complexe axée sur les événements pour laquelle une bonne communication est primordiale. L’alliance de nos cabinets réunit deux sociétés de conseil de premier plan et de confiance, profondément ancrées dans le paysage corporatif australien, et qui partagent l’idée d’une emphase sur la prestation d’un service exceptionnel à la clientèle. »

À propos de Morrow Sodali

Morrow Sodali est un cabinet mondial de conseil aux entreprises qui fournit à ses clients des conseils et services complets en matière de gouvernance d’entreprise, ESG, durabilité, sollicitation de procurations, renseignement sur les marchés financiers, engagement des actionnaires et obligataires, fusions et acquisitions, activisme et situations contestées.

Depuis ses sièges sociaux à New York et Londres et ses bureaux sur les marchés des capitaux mondiaux, Morrow Sodali sert plus de 1 000 clients dans plus de 80 pays, avec notamment de nombreuses sociétés multinationales parmi les plus importantes au monde. Parmi ses clients, s’incluent des sociétés cotées et privées, des groupes de fonds communs de placement, des marchés boursiers et des associations de membres.

En 2022, Morrow Sodali célèbre son 50e anniversaire ainsi que l’entrée majoritaire au sein de la compagnie de TPG Growth, la plateforme de capitaux de croissance et de marché intermédiaire de TPG. Ce partenariat fera considérablement progresser la mission du cabinet qui consiste à fournir à ses clients du monde entier

des conseils stratégiques inégalés et un soutien complet, leur permettant ainsi de maximiser la valeur des investissements et de gérer efficacement les relations avec les parties prenantes.

Pour plus d’informations sur Morrow Sodali, veuillez consulter le site www.morrowsodali.com.

À propos de Citadel-MAGNUS

Citadel-MAGNUS est une société de premier plan dans la communication financière et d’entreprise, présente à Sydney et Perth, au service de clients en Australie et à l’international.

Nous avons acquis la réputation d’offrir des résultats exceptionnels à nos clients grâce à des relations de confiance, à notre intégrité et à notre excellence professionnelle. Notre priorité est de soutenir les objectifs commerciaux des clients grâce à une communication efficace et un niveau de service supérieur.

Citadel-MAGNUS apporte une expérience inégalée des marchés financiers, des entreprises et des médias pour aider les entreprises à relever les défis de l’environnement commercial hautement concurrentiel et changeant d’aujourd’hui. Nous avons travaillé avec des entreprises de tous les secteurs et de toutes les tailles, et notre succès nous a permis d’établir des partenariats à long terme avec des chefs d’entreprise et des compagnies.

Pour plus d’informations, veuillez visiter www.citadelmagnus.com.

CONTACT :

Elena Cargnello

Directrice générale, Marketing

e.cargnello@morrowsodali.com

+44 (0)20 4513 6913

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Citadel-MAGNUS joins Morrow Sodali family

Morrow Sodali strengthens its market leading position with a new Australian ac quisition

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GlobeNewswire Distribution ID 1000755753

Com as Festas de Fim de Ano se Aproximando, Crurated Anuncia Mais Leilões Fracionados em Barril Apoiados pela Tecnologia NFT Com Enólogos da França e da Itália

Para presentear, colecionar ou se deliciar todos os dias, o novo calendário apresenta alguns dos melhores produtores da Europa e cobre o restante de 2022

LONDRES, Nov. 08, 2022 (GLOBE NEWSWIRE) — Com a temporada de festas e presentes chegando, a Crurated, uma comunidade de vinhos baseada em blockchain e assinatura, lançou um novo calendário de leilões de barris para o restante de 2022. A oferta conta com alguns dos melhores enólogos da França e da Itália e amplia as vendas de barris fracionados após uma primeira rodada de leilões bem-sucedida. O programa anunciado recentemente permite que os membros da Crurated comprem frações de barris certificados pela tecnologia blockchain e NFT.

Os compradores também podem personalizar os formatos e rótulos das garrafas para o destinatário do presente ou para si mesmos. Muitos dos produtores na plataforma raramente ou nunca fazem garrafas maiores, mesmo com os pedidos frequentes dos colecionadores e compradores. Com os barris fracionados os produtores podem determinar a quantidade e os tamanhos exatos das garrafas. Em muitos casos, a única forma de obter formatos maiores para os vinhos leiloados é através da Crurated.

A próxima rodada de leilões de barris fracionados inclui:

  • Domaine Gerorges Mugneret-Gibourg — 7 a 13 de novembro
    • Vosne-Romanée “La Colombière” 2021
    • Chambolle-Musigny 1er Cru “Les Feusselottes” Cuvée Augustin 2021
    • Ruchottes-Chambertin Grand Cru 2021
  • Domaine Pierre Girardin — 14 a 20 de novembro
    • Échezeaux Grand Cru 2021
    • Bonnes-Mares Grand Cru 2021
    • Griotte-Chambertin Grand Cru 2021
    • Richebourg Grand Cru 2021
  • Montevertine — 21 a 27 de novembro
    • Le Pergole Torte 2020
  • Domaine Y. Clerget — 5 a 11 de dezembro
    • Clos de Vougeot Grand Cru 2021
    • Volnay 1er Cru Clos du Verseuil 2021
    • Pommard 1er Cru Les Rugiens 2021
  • Domaine Hubert Lignier – 12 a 18 de dezembro
    • Clos de la Roche Grand Cru Bio 2021
    • Morey Saint-Denis 1er Cru Vieilles Vignes Bio 2021
    • Morey-Saint-Denis Trilogie Bio 2021
    • Bourgogne Pinot Noir Grand Chaliot 2021
  • Domaine Bruno Colin — 19 a 25 de dezembro
    • Corton-Charlemagne Grand Cru 2021

“Quando lançamos as vendas de barris, sabíamos que o que estávamos oferecendo aos nossos associados era único. Mal sabíamos que os barris se esgotariam tão rapidamente e, em alguns casos, dentro de apenas 24 horas”, disse Alfonso de Gaetano, fundador da Crurated. “A nossa equipe tem o prazer de anunciar uma nova lista de leilões com alguns dos vinhos mais procurados da Europa e bem a tempo para as festas de fim de ano.”

Sobre a Crurated
Lançada em 2021 com ênfase na França e na Itália, a Crurated é uma associação da comunidade vinícola criada para conectar conhecedores e produtores de todo o mundo. Uma equipe de especialistas oferece serviços personalizados e experiências autênticas, enquanto o serviço de logística contínuo da Crurated garante a qualidade e a proveniência, graças ao armazenamento seguro da adega e à inovadora tecnologia blockchain. Para mais informação sobre a Crurated, visite crurated.com.

Michael Volpatt
michael@larkinvolpatt.com
415 994 8864

Foto deste comunicado disponível em https://www.globenewswire.com/NewsRoom/AttachmentNg/ee03a3c2-35fd-4334-9adb-d2f8c7c2a7e9

Vídeo deste comunicado disponível em https://www.globenewswire.com/NewsRoom/AttachmentNg/c848d052-fe03-4cdb-becd-c00e6a4cdb57

GlobeNewswire Distribution ID 8692272

Juste à temps pour les fêtes, Crurated annonce des ventes aux enchères supplémentaires de tonneaux fractionnés soutenues par la technologie NFT avec des vignerons de France et d’Italie

Pour les personnes à la recherche d’idées de cadeaux, d’objets de collection ou de plaisirs quotidiens, le nouveau calendrier met en vedette certains des meilleurs producteurs européens et couvre le reste de l’année 2022

LONDRES, 08 nov. 2022 (GLOBE NEWSWIRE) — À l’approche de la période des fêtes et des cadeaux, Crurated, une communauté viticole basée sur la blockchain et les membres, a publié un nouveau calendrier de ventes aux enchères de tonneaux pour le reste de l’année 2022. L’offre met en vedette certains des meilleurs viticulteurs de France et d’Italie, et prolonge les ventes de tonneaux fractionnés après une première série de ventes aux enchères fructueuse. Le programme récemment annoncé permet aux membres de Crurated d’acheter des fractions de tonneaux qui sont certifiées par le biais de la blockchain et de la technologie NFT.

L’offre donne également aux acheteurs la possibilité de personnaliser les formats de bouteilles et les étiquettes pour le destinataire du cadeau ou pour eux-mêmes. De nombreux producteurs de la plateforme proposent rarement, voire jamais, des bouteilles de plus grand format, même si les collectionneurs et les acheteurs les demandent souvent. Les tonneaux fractionnés permettent désormais aux producteurs de déterminer le nombre et la taille exacts des bouteilles nécessaires. Dans de nombreux cas, la seule façon d’avoir des formats plus grands pour les vins mis aux enchères est exclusivement par le biais de Crurated.

La prochaine série de ventes aux enchères de tonneaux fractionnés comprend :

  • Domaine Gerorges Mugneret-Gibourg — du 7 au 13 novembre
    • Vosne-Romanée « La Colombière » 2021
    • Chambolle-Musigny 1er Cru « Les Feusselottes » Cuvée Augustin 2021
    • Ruchottes-Chambertin Grand Cru 2021
  • Domaine Pierre Girardin — du 14 au 20 novembre
    • Échezeaux Grand Cru 2021
    • Bonnes-Mares Grand Cru 2021
    • Griotte-Chambertin Grand Cru 2021
    • Richebourg Grand Cru 2021
  • Montevertine — du 21 au 27 novembre
    • Le Pergole Torte 2020
  • Domaine Y. Clerget — du 5 au 11 décembre
    • Clos de Vougeot Grand Cru 2021
    • Volnay 1er Cru Clos du Verseuil 2021
    • Pommard 1er Cru Les Rugiens 2021
  • Domaine Hubert Lignier — du 12 au 18 décembre
    • Clos de la Roche Grand Cru Bio 2021
    • Morey Saint-Denis 1er Cru Vieilles Vignes Bio 2021
    • Morey-Saint-Denis Trilogie Bio 2021
    • Bourgogne Pinot Noir Grand Chaliot 2021
  • Domaine Bruno Colin — du 19 au 25 décembre
    • Corton-Charlemagne Grand Cru 2021

« Lorsque nous avons lancé les ventes de tonneaux, nous savions que ce que nous proposions à nos membres était unique. Rien ne laissait entrevoir que les tonneaux se vendraient si rapidement et dans certains cas dans les 24 heures », a déclaré Alfonso de Gaetano, fondateur de Crurated. « Notre équipe a le plaisir d’annoncer une nouvelle série d’enchères avec certains des vins les plus prisés d’Europe et juste à temps pour les fêtes de fin d’année. »

À propos de Crurated
Lancée en 2021 en mettant un accent particulier sur la France et l’Italie, Crurated est une communauté de vignerons basée sur l’adhésion conçue pour mettre en relation directement les connaisseurs et les producteurs de classe mondiale. Une équipe de spécialistes fournit des services personnalisés et des expériences authentiques, tandis que le service logistique transparent de Crurated garantit la qualité et l’origine grâce à un stockage sécurisé de caves à vin et une technologie de blockchain innovante. Pour en savoir plus sur Crurated, veuillez consulter le site crurated.com.

Michael Volpatt
michael@larkinvolpatt.com
415 994 8864

Une photo accompagnant ce communiqué de presse est disponible à l’adresse https://www.globenewswire.com/NewsRoom/AttachmentNg/ee03a3c2-35fd-4334-9adb-d2f8c7c2a7e9

Une videó accompagnant ce communiqué de presse est disponible à l’adresse https://www.globenewswire.com/NewsRoom/AttachmentNg/c848d052-fe03-4cdb-becd-c00e6a4cdb57

GlobeNewswire Distribution ID 8692272

CryptoDATA Tech becomes RNF MotoGP Team majority and strategic shareholder

CryptoDATA Tech becomes RNF MotoGP Team majority and strategic shareholder

RNF Racing Ltd. is pleased to announce a new majority shareholder with CryptoDATA Tech, a blockchain-applied technologies pioneer and developer of hardware and software cybersecurity solutions. This strategic investment marks a significant milestone and a beginning of a new era for the fifteen months old RNF MotoGP team.*Ovidiu Toma – CEO CryptoDATA Tech (left), Carmelo Ezpeleta – CEO Dorna Sports (left-center), Razlan Razali – Team Principal RNF MotoGP Team (right-center), Bogdan Mărunțiș – Global Strategy CryptoDATA Tech (right).

BUCHAREST, Romania, Nov. 08, 2022 (GLOBE NEWSWIRE) — CryptoDATA Tech, a blockchain-applied technologies pioneer and developer of hardware and software cybersecurity solutions, is pleased to announce the acquisition of a majority stake in RNF Racing Ltd. This strategic investment marks a significant milestone and a beginning of a new era for the fifteen months old RNF MotoGP team and the Romanian holding.

After previously announcing the cybersecurity company as the Official Premium Partner for the final three races of the season, CryptoDATA’s became a partner who shared the same passion, values and recognised the potential value of a MotoGP team in the long term.

With CryptoDATA as the majority shareholder, the vision and strategy is to go beyond racing and expand the business and services into motorsports mainly in MotoGP and taking the role of the business and branding aspects of the team. RNF MotoGP Team will continue participating as an Independent Team in the premier class of the FIM MotoGP World Championship with Team Principal Razlan Razali remaining at the helm focusing on the sporting and technicality side of the team.

In conjunction with the final race of the season and to mark the start of this historical milestone, RNF MotoGP Team and CryptoDATA will be unveiling a special livery design on race day at the Valencia Grand Prix.

Razlan Razali, Founder and Team Principal, RNF Racing Ltd,
“Today marks a historical milestone for the team. I’d like to thank CryptoDATA for putting their trust in me and the team for the future.”

“In a short period of time, discussions have evolved into a long term commitment. We have extended our partnership, and as I previously stated, this is a fantastic collaboration. The union of the two companies will drive the team to not just perform in racing, but also to grow the business aspects of the team, and this is where both parties join forces to share expertise and experience. My main focus is to ensure the team fights for the championship while CryptoDATA’s team consisting of young, smart, innovative, and ambitious individuals will develop strategies to strengthen our position off track.”

“With the experience from our previous successes, the same strong and passionate crew from our MotoGP garage, and a solid rider line-up, we are set for a competitive comeback with CryptoDATA for the next season.”

Ovidiu TOMA, Chief Executive Officer and Founder, CryptoDATA Tech,
“We are delighted to extend our partnership and become the majority shareholder of the RNF MotoGP Team. The MotoGP World Championship is an exclusive and international showcase, a special universe where the starting grid is a stage for heroes in which CryptoDATA has found its space by sharing its values and objectives. We became the first Romanian company to Title Sponsor a Moto Grand Prix at the Red Bull track this year, and we are now more excited and motivated than ever to become the majority shareholder in the RNF Team. This represents not only a historical milestone for CryptoDATA, but also a new beginning and a significant incentive.

“We look to 2023 with optimism and confidence as our team is led by trained, serious, and experienced managers. We will do our best to support the team to achieve their goals and to reach their highest potential in MotoGP.”

Bogdan Mărunţiş, Global Strategy and Founder, CryptoDATA Tech,
“We are glad to announce our partnership with the RNF team, and we are confident that we can help the team set strategic goals for the upcoming season and long-term performance goals both on and off-track. We want to start the team’s transformation into a successful business that will provide unique experiences to our fans and partners while promoting our brand values in the top series of global racing.”

“As CryptoDATA representatives, we will be in charge of the business’s strategic management and will work to provide stability and further strengthen the team’s position in the MotoGP world and in the business world.”

Carmelo Ezpeleta, Chief Executive Officer, Dorna Sports S.L,
“The agreement that Razlan Razali has reached with CryptoDATA allows him to maintain the viability and presence of his project in MotoGP. We are delighted to see a new sponsor supporting a team, especially one that Dorna brought to the championship. We were happy with the relationship with CryptoDATA at the Austrian Grand Prix, they have the idea to develop and the idea to put things together with Aprilia next year which is the stability needed for MotoGP, it’s a very warm welcome for CryptoDATA to MotoGP. The fact that they are not just limiting their participation in the sponsorship area but in an entire team shows the importance of Motorsport and of MotoGP in particular. We know that Razlan had many requests, and we believe he has chosen the best option for the future and to consolidate his structure.”

About RNF MotoGP Team

A new beginning, a collaboration that goes beyond racing. The RNF MotoGP Team will debut in the premier class of the 2023 FIM MotoGP World Championship grid as the first-ever satellite team for Aprilia showcasing Portuguese MotoGP rider and 5-times race winner Miguel Oliveira with promising Spanish youngster and 2021 Moto2 Vice World Champion, Raul Fernandez.

The addition of CryptoDATA to the RNF MotoGP Team brings sustainability on and off track, as it sets the tone for further developing and improving performance in the upcoming season. The team will collaborate on two missions for the team with CryptoDATA spearheading the business side while RNF MotoGP Team focuses on the sports itself.

Our shared passion for performance, innovations and technology will bring a fresh and unique value to the world of motorsports.

About CryptoDATA Tech

CryptoDATA Tech is a global ambassador for promoting the importance of data security and digital privacy worldwide. The company has pioneered the development of services and products based on blockchain technology that enables private and secure communication, satisfying the requirements of its collaborators as well as tech users worldwide. Wispr, one of its major products, is an online messaging app that allows motorsport fans to exchange messages without constraints from anywhere in the world, thereby fueling the passion and determination of the motorsport community.

Contact details:
Cosmin Bidileci
Email: cosmin.bidileci@cryptodata.com
Phone: +40750803241

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2edbe83b-3def-4c0b-9b14-5bc24d38858e

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Global Energy Alliance for People and Planet Reports Strong First Year 

Working to Boost Energy Access and Reduce Emissions in 12 Countries

SHARM EL SHEIKH, Egypt, Nov. 8, 2022 /PRNewswire/ — Since its launch at COP26, the Global Energy Alliance for People and Planet (GEAPP) has accelerated clean energy solutions to support economic development and climate priorities across 12 countries on multiple continents, with plans to expand to seven more countries next year.

Highlights of GEAPP’s strong first year include:

  • Committed over $350 million to catalyze additional development and commercial finance. GEAPP’s investment of $40M in five initiatives alone is accelerating an additional $630M in development capital.
  • Partnered with governments in 12 countries, soon to be 19, advancing their national agendas for better energy access, faster decarbonization, jobs growth and economic development.
  • Widened the Alliance with the addition of the Asian Infrastructure Investment Bank (AIIB), thus increasing the Alliance to 19 partners and aligned co-investment capacity to $11.5bn.
  • Released its inaugural impact report, Powering People and Planet, with initial focus on robust impact methodology and updates on 2022 country programs.

The Alliance was formed in 2021 to catalyze clean energy technologies and new pools of finance to bring reliable, livelihood-enhancing energy to the nearly 3.6 billion people who lack it. Working with developing countries, the Alliance seeks to foster collaboration and speed in harnessing the considerable human and financial resources needed to reduce energy poverty while combating climate change.

GEAPP has already made important strides toward the goals of increased energy access, reduced emissions, and enhanced livelihoods. In all, building on the projects of its philanthropic founders, it has:

  • Added more than 245,000 new or improved energy connections
  • Impacted over 1 million lives
  • Enabled 25 MW renewable energy capacity
  • Averted or avoided 117,000 tons of carbon

“It is unacceptable that half our global population still does not have access to reliable energy that is essential for healthy lives and productive livelihoods,” said Jonas Gahr Støre, Norway’s Prime Minister and co-chair of GEAPP’s Global Leadership Council. “New clean energy projects in 2021 produced a quarter of the electricity needed to end energy poverty, except nearly all of this occurred in developed economies. We must move faster and find innovative new models when business-as-usual is not effective. Norway is glad to be working with GEAPP. I invite more to partner with us.”

The Alliance is now operating in 12 countries across Africa (Democratic Republic of Congo, Ethiopia, Malawi, Nigeria, South Africa, Sierra Leone, and Uganda); Asia (India, Indonesia, and Myanmar) and Latin America (Haiti and the U.S. territory of Puerto Rico). Following its first Call for Country Partnerships at COP26, the Alliance is commencing work with Vietnam, Bangladesh, Benin, Burundi, Colombia, Pakistan, and Panama.

Heads of state for Alliance country partners emphasize the need for urgent action across national and regional borders to increase energy access in ways that address the global imperative to reduce carbon emissions.

“Malawi urgently needs to address its energy access challenges for our people, in line with our socioeconomic transformation agenda and Vision 2063,” said Lazarus McCarthy Chakwera, President of the Republic of Malawi. “We are working closely and swiftly with GEAPP and already deriving benefit from the Alliance’s support of our government delivery capacity; piloting large-scale battery storage to stabilize the intermittency of our renewables; and energizing our agro-industry to improve livelihoods and jobs. We welcome the memorandum of understanding signed today for the installation of a utility-scale grid-integrated battery energy storage system for grid stabilization. ”

Head of the Presidential Climate Finance Task Team in the Presidency of the Republic of South Africa, Daniel Mminele, said, “The Global Energy Alliance for People and Planet was formed just last year and has quickly got to work with South Africa. We value our relationship with GEAPP and appreciate the way in which it has embraced South Africa’s Just Transition, providing early and important support to help us build our capacity.”

Rania A. Al-Mashat, Egypt’s Minister of International Cooperation, said, “it is time for all stakeholders to move from pledges to implementation, which is why Egypt welcomes GEAPP’s total focus on action and outcomes with the already rapid deployment of capital and technical assistance to achieve real climate and development outcomes in this critical decade.”

“The dual problems of energy poverty and decarbonization form the defining challenge of our time,” said Simon Harford, GEAPP’sCEO. “GEAPP has moved fast in our first 12 months to launch replicable models that apply technology and innovation, support entrepreneurship, deploy targeted risk capital, and address obstacles to viable private sector solutions. We applaud governments focused on the effective delivery and enabling environments needed for energy investment. Together with our Alliance partners we are determined to be innovative in driving progress for better access and more clean energy. This is just the beginning, and we are committed to building successful long-term partnerships across the Alliance that jointly deliver concrete outcomes. We invite others impatient for progress to join us in scaling clean energy that is at the heart of development, livelihoods and growth.”

The majority of the people living without any access to energy today are in Africa, which only received 1.1% of total wind and solar capacity deployed in 2021. Some highlights of GEAPP’s work here in 2022 include:

  • South Africa. Supporting across government to advance the country’s Just Energy Transition (JET) agenda. This includes coordinated government delivery capacity; supporting the Presidential Climate Commission’s critical work building broad societal support; and partnering with public utility Eskom to launch its Komati Renewable Energy Training Facility, the first to support the training and transition of coal-fired power station workers to new clean energy jobs.
  • Ethiopia. Working with the government and Alliance partners to increase demand and support productive use of electrification, by deploying renewables in rural areas to grow jobs, livelihoods and entrepreneurship; and launching the DREAM initiative, which is building the first solar mini-grid-powered large-scale irrigation systems in Africa to provide farmers with reliable and affordable irrigation.
  • Nigeria. Working with the government and Alliance partners across multiple initiatives to create systemic improvements in the energy sector, including bespoke financing to the off-grid sector; delivery capacity to implement Nigeria’s Energy Transition Plan; improving private sector investment with the launch of an innovative local currency financing facility; reducing the cost of clean energy technology via an innovative pooled procurement solution.

To illustrate its first year’s work and priority to measure its impact outcomes, the Alliance is today publishing its first impact report, Powering People and Planet. The report highlights that, should energy-poor countries pursue development with fossil-fuels rather than scale renewables, they would produce 75% of the world’s carbon emissions by 2050. It also identifies that universal energy access can be achieved with clean energy sources, a path that would reduce emissions in energy-poor countries by 58% while also significantly growing local economies. Contrary to some perceptions, clean energy solutions are now often the cheapest available power sources – while also being swifter to install than fossil fuel-powered generation. Future Alliance impact reports will track progress of initiatives and their outcomes for energy access, reduced carbon emissions and enhanced livelihoods.

Anchor Philanthropic Partners

Per Heggenes, CEO of IKEA Foundation
“The IKEA Foundation is proud of the tangible progress GEAPP has made during its first year, as it seeks to reduce emissions, expand energy access and create jobs around the world. Confronting the climate crisis will require unprecedented collaboration between governments, philanthropies, development finance institutions and the private sector. GEAPP is already demonstrating the positive results of such collaboration. This decisive decade for climate action will require all of us to do even more to protect our planet and we hope others will join us on this initiative.”

Dr. Rajiv J. Shah, President of The Rockefeller Foundation
“Every day, we see proof that when renewable energy innovations are accessible and affordable, countries and communities can avert carbon emissions, slowing the climate emergency while enabling people to pursue opportunity in the 21st century economy. As the Global Energy Alliance for People and Planet enters a second year of changing energy for good, we invite more partners to join us in mobilizing capital and accelerating the adoption of these technologies where they are needed most — in emerging and developing economies.”

Andrew Steer, President and CEO of Bezos Earth Fund
“Energy-poor countries account for only 25% of global CO2 emissions today, but this could rise to 75% by 2050 without support from the global developed community. That’s why the Global Energy Alliance for People and Planet is bringing a new approach to alleviate energy poverty, piloting innovative business and market solutions, finance, and other approaches that can be applied at scale across the developing world and beyond. Helping developing countries shift to a clean energy model will lead to cleaner air, reduced carbon emissions, reliable energy, new jobs, and building a more equitable future society. It’s not only the right thing to do, but it’s in everyone’s best interests to work together to reach our critical climate goals in this decisive decade.”

Investment Partners

Masatsugu Asakawa, President of the Asian Development Bank
“As Asia and the Pacific’s climate bank, ADB is working with GEAPP to catalyze broader clean energy access and a just energy transition, in countries such as Bangladesh, India, Indonesia, Pakistan, and Vietnam. The decarbonization of power systems—including by accelerating the retirement of fossil fuel power plants and developing cleaner, renewable sources of energy—is critical for meeting the Paris Agreement targets. We are looking forward to pursuing several innovative and scalable transactions with GEAPP.”

Werner Hoyer, President of European Investment Bank
“To achieve global climate goals and boost economic development we must increase access to clean and affordable energy. As the EU climate bank, the EIB aims to support more than one trillion dollars of green investment by the end of this decade. Through EIB Global, our dedicated arm for operations outside the European Union, we are committed to support GEAPP’s mission by working with our partners from Team Europe and across the world to mobilize finance for the green energy transition of developing and emerging economies.”

Nick O’Donohoe, Chief Executive of the UK’s British International Investment
“Providing affordable, clean energy to hundreds of millions of people living in emerging economies is vital – both from a development perspective and in the fight to combat the impacts of the climate emergency that are already being acutely felt today.”

James Scriven, CEO of IDB Invest
“We are very proud of our close collaboration with GEAPP seeking to implement accessible and renewable energy for all. The private sector of Latin America and the Caribbean has the right conditions, the passion, and it has proved to be a nursery of innovative ideas. The challenge has been to find soft resources to pilot and test, as well as take to scale these ideas, accompanying that process with expertise on the local context. That’s where IDB Invest is crucial. The region has the potential to do much more. Taking advantage of natural resources, expertise and partnerships like this, it can become one the world’s leading renewable energy hubs.”

Upstream Partners

Damilola Ogunbiyi, CEO and Special Representative to the UN Secretary-General for Sustainable Energy for All
“For more than 700 million people without electricity and 2.4 billion people without access to clean cooking solutions, energy poverty is a daily reality that impacts every aspect of their lives. Lack of energy also keeps us from achieving multiple Sustainable Development Goals, including climate action – which impacts us all. Sustainable Energy for All is excited to continue our collaboration with the Global Energy Alliance for People and Planet to unite current efforts on energy, climate and development, put people at the heart of the energy transition, and ensure a path to a better future for all.”

Mark Carrato, U.S Agency International Development (USAID) – Coordinator, Power Africa

“The Alliance is providing valuable means and frameworks for implementation, and recognizes that ending energy poverty and achieving climate goals are vital, mutually supporting endeavors.”

Jon Creyts, CEO of RMI
“GEAPP is a critical leader among the world’s most important sustainable energy initiatives and has the power to improve the lives of hundreds of millions of people. RMI is honored to be a key member of the Alliance as a strategic implementing partner across GEAPP and RMI’s focus geographies to advance our shared goals for job creation, energy access, and carbon reduction.”

For more information:
About the Global Energy Alliance for People and Planet

The Global Energy Alliance for People and Planet (GEAPP) is an alliance of philanthropy, entrepreneurs, governments in emerging and developed economies, and technology, policy, and financing partners. Our common mission is to support developing countries’ shift to a clean energy, pro-growth model that ensures universal energy access and unlocks a new era of inclusive economic growth, while enabling the global community to meet critical climate goals during the next decade. In doing so, as an Alliance we aim to enable 150 million sustainable livelihoods, reduce 4 gigatons of future carbon emissions, and expand clean energy access to one billion people. With philanthropic partners IKEA Foundation, The Rockefeller Foundation, Bezos Earth Fund, GEAPP works to build the enabling environment, capacity, and market conditions for private sector solutions, catalyze new business models through innovation and entrepreneurship, and deploy high-risk capital to encourage private sector solutions, and assist just transition solutions. For more information, please visit www.energyalliance.org and follow us on Twitter at @EnergyAlliance.