Puma Energy today announced it now has 203 solar power generation projects operational across its network.
In its ESG Strategy, published in July 2022, Puma Energy set a target of installing 200 solar projects across its global network by the end of the year. Once operational, the solar projects will have a combined capacity of 6.6 MWp and are expected to generate 9,311 MWh of renewable electricity per year.
The aim of the solar generation initiative is not only to reduce Puma Energy’s greenhouse gas emissions on the sites and depots it owns, but also to reduce the emissions of the local dealers who operate many of the retail sites in Puma Energy’s network. The expertise Puma Energy has developed by installing solar at its own retail sites now allows the company to offer its commercial and industrial customers solar generation packages and other low carbon energy solutions alongside the fuels it has traditionally supplied.
Puma Energy made a commitment to achieving 30% of its Africa EBITDA from clean energy and transition fuels* in its 2022 Sustainability Report and ESG Strategy. The roll out of solar solutions for Puma Energy commercial customers is part of that aim, and to hit the target the company has committed an initial investment of USD 33 million to roll out its solar offer to its customers, starting with Botswana, Ghana, Malawi, Namibia, Tanzania and Zambia.
Sophonie Babo, Head of Strategy and Business Development for Puma Energy said: “The solar projects we have delivered are just the start of a broader strategy to contribute to the energy transition in Africa.
“Many of our commercial and industrial customers are looking to reduce their carbon emissions. By installing solar on our own assets, we have demonstrated our ability to offer to our customers solar solutions. Our aim is to help them hybridise their energy sources and reduce emissions across their operations. ”
- Puma Energy defines transition fuels as lower carbon alternatives to traditional fuels. They are a crucial step of the energy transition in emerging markets, where the need to promote economic development and reduce carbon emissions are both priorities.
