The African Development Bank (www.AfDB.org) and JGC Corporation, a leading Japanese engineering company, have signed an agreement to explore cooperation in the development of sustainable aviation fuel (SAF)in Africa.
The two parties signed a Letter of Intent to this effect on the sidelines of the Ninth Tokyo International Conference on African Development (TICAD9) in Yokohama, which concluded last month. Sustainable aviation fuel is a term for any jet fuel made from renewable sources – like plant oils, waste materials, and even captured carbon – which are designed to reduce the environmental impact of air travel.
African Development Bank Vice President for Private Sector, Infrastructure & Industrialization, Solomon Quaynor, and Mr. Shoji Yamada, Representative Director and President, JGC Corporation signed the agreement in Yokohama on 21 August.
The Letter of Intent establishes a framework for cooperation between the two institutions to jointly promote development, information and knowledge sharing, and to explore co-financing opportunities for sustainable aviation fuel and other green aviation solutions in Africa.
The production and adoption of SAF in Africa is consistent with the Bank’s sustainable transport and mobility and energy transition strategy. The cooperation with JGC will include undertaking of demand and feasibility studies for production and adoption of Japanese technology to Africa in this regard.
Under the agreement, the African Development Bank will facilitate coordination and dialogue with public sector aviation stakeholders, identify potential project pipelines, and explore possible financing options, including feasibility study support and promoting global partnership around the concept in Africa, as well as debt/equity financing.
JGC Corporation will conduct demand studies for SAF in African markets, perform technical feasibility assessments, evaluate deployment opportunities tailored to local resources and infrastructure, and harness and facilitate Japanese technology adoption to Africa in this regard.
Quaynor commented: “Adopting Sustainable Aviation Fuel in Africa is a crucial component of the journey to cutting the continent’s carbon dioxide emissions. Moreover, it should boost the competitiveness of the sector over time. This partnership with JGC will help unlock new opportunities for green aviation and position Africa as a pacesetter in the sector.”
Mr. Shoji Yamada, President, JGC Corporation noted: “We are proud to collaborate with the African Development Bank in advancing Sustainable Aviation Fuel in Africa. By leveraging our experience in plant engineering and sustainable energy, we aim to contribute to Africa’s decarbonization efforts while fostering local economic growth and innovation.”
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org
About JGC Corporation:
Founded in 1928 and headquartered in Yokohama, Japan, JGC Corporation is a leading global engineering, procurement, and construction (EPC) company specializing in energy and infrastructure. JGC has expanded into new business fields including renewable energy, green innovation, and sustainable fuels, with a commitment to contributing to decarbonization worldwide.
Website: https://www.JGC.com