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Invictus Energy Advances in Major Gas to Power Project with Mbuyu Energy — ASX:IVZ| ASX Mining News & Discussion
L
Lykeshares
2y
Official
$IVZ
Invictus Energy Advances in Major Gas to Power Project with Mbuyu Energy
Invictus Energy Limited, in a significant move in the energy sector, has announced an updated Gas Supply Memorandum of Understanding (MOU) with Mbuyu Energy. This collaboration is aimed at supplying gas for a 500MW Gas to Power project, marking a major step in energy resource management and utilization in Zimbabwe.
Potential Growth to 1,000MW Capacity
The project, with an initial capacity of 500MW, holds the potential for future expansion to 1,000MW. This expansion equates to a substantial gas supply requirement of approximately 1.4 trillion cubic feet over 20 years, sourced from the Cabora Bassa Project, primarily from the Mukuyu gas field.
Fast-Tracking a 50MW Pilot Project
Invictus and Mbuyu Energy may expedite a 50MW pilot project, providing an early monetisation opportunity from the Mukuyu gas field. This initiative is seen as a pivotal step towards the larger goal of the 500MW project.
Adherence to World-Class Standards
The Gas to Power project is designed to align with
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global standards, integrating renewable energy sources into Zimbabwe's National Grid. The project aims to minimize environmental impact, utilizing efficient Combined Cycle Gas Turbine (CCGT) technology and incorporating advanced carbon reduction methods.
Leveraging the Southern Africa Power Pool
The Mukuyu gas field's strategic location, within 100 kilometers of major interconnectors to the Southern Africa Power Pool (SAPP), presents the opportunity to export power to regional countries. This aspect enhances the project’s significance in the broader Southern African energy landscape.
Targeting High Energy Demand Offtakers
Mbuyu Energy intends to engage with high energy demand offtakers, including miners and industrial users, many of whom currently import electricity. The project promises to supply reliable and affordable baseload power, which could alleviate the energy deficits and support economic growth in Zimbabwe.
Invictus' Ambitious Gas Discovery Commercialisation
Scott Macmillan, Managing Director of Invictus, highlighted the importance of this MOU in their early commercialisation strategy. The project aims to address the increasing demand for natural gas and cleaner energy in Southern Africa, driven by declining mature fields and retiring coal-fired power infrastructure.
Transitioning to a Diversified Energy Mix
Director of Mbuyu Energy, Tunde Akerele, expressed enthusiasm for the partnership with Invictus and One Gas Resources. He emphasized the project's role in transitioning Zimbabwe from coal power to a more diverse energy mix that includes natural gas and renewables, enhancing energy security and fostering economic development.
Renewable Energy Developments in Zimbabwe
Tatanga Energy, a leader in the consortium, is actively developing renewable energy projects in Zimbabwe, including solar and wind projects. Their flagship project is a 400MW solar photovoltaic park in collaboration with Masawara Limited and Sable Chemicals Limited.
Establishing the Framework for the Power Project
The MOU provides Mbuyu Energy with a twelve-month exclusivity period and preferred partner status. It sets the stage for feasibility studies, pilot plant development, and potential future offtake agreements for gas supply beyond power generation.
A Milestone for Energy Development in Southern Africa
This partnership between Invictus and Mbuyu Energy, underpinned by the MOU, represents a significant advancement in the energy sector of Southern Africa. It not only aims to address the immediate energy needs but also sets a precedent for sustainable and diversified energy solutions in the region.
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L
Lykeshares
133d
Official
Berkshire is hoarding so. much. cash.
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L
Lykeshares
133d
Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.
There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can
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rush, it’s a complex, slow-moving process that takes years of precision and experience.
Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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L
Lykeshares
164d
Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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L
Lykeshares
1y
Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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Lykeshares
1y
Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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Lykeshares
1y
Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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Lykeshares
1y
Official
$ASN
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
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