GAFO Energy NZ Limited
In 2007, GAFO Energy NZ Limited started working in the energy sector. The company’s important projects are in geothermal energy sector. Born in Syria and having a net worth of over 217 million pounds, Dr. Rashad Naqaweh is the CEO of GAFO Energy NZ Limited.
He is also the chairman of GAFO Capital Group.
GAFO Energy NZ Limited believes that innovative strategies need to be developed to achieve growth in future for an optimistic and noble cause. The main focus of GAFO Energy NZ Limited is not just to set up energy factories all over the world, but to use renewable energy sources in order to design a better future for everyone.
By reducing non-renewable energy sources which are quickly depleting, GAFO Energy NZ Limited wants to make sure that the future generations live a healthy and prosperous life.
Projects of GAFO Energy NZ Limited
To expand and spread the network of geothermal energy projects in Europe and meet the growing demands of the population, GAFO Energy NZ Limited has come up with several new plans. The estimated budget of these projects is 2 billion Euros.
The management officials of the company have always worked tirelessly to achieve new targets by using their knowledge, experience and skills. Currently, they are working with the Kenyan Government to establish a 500 Megawatt (Mw) geothermal energy project. The projected budget for this project is 1.3 billion Euros.
In 2009, GAFO Energy NZ Limited in collaboration with the Comorian Government decided to establish a 25 MW geothermal power plant which was located in Ngazidja, Comoros. The total cost of this geothermal energy project was an estimated 120 million Euros. Seeing the hard work and efforts of GAFO Energy NZ Limited, now, the Comorian Government is again interested in working with the energy company.
Discussions are being held to establish a new 10 Megawatt Hydro-electric power plant. However, no comments have been made on the details or projected cost of this new project.
Presently, GAFO Energy NZ Limited is working on energy projects in some countries of Europe and Africa. Some of these countries include Tanzania, Kenya and Union of the Comoros. The management officials of GAFO Energy NZ Limited have once again won the hearts of the people residing in these countries through hard work and extra effort.
To reduce the dependency on diesel-powered energy, GAFO Energy NZ Limited is investing 120 million Euros to establish geothermal energy projects across the Union of the Comoros. These renewable energy projects will be extremely beneficial to the local residents.
Taking an extra step ahead, GAFO Energy NZ Limited is partnering with some leading organizations and countries from all over the world in order to provide clean and cheap energy to its customers. Presently, countries and organizations like Federal Islamic Republic of Comoros and Republic of Kenya are the main partners of GAFO Energy NZ Limited. GAFO Energy NZ Limited is actively working with the Kenyan Government to generate 5000 MW power by 2030. GAFO Energy NZ Limited is expected to supply more than 500 MW in the next five years.
Tanzania is a country which has a vast potential of using geothermal energy to produce electricity. The country has discovered 50 potential locations for producing 5000 MW of geothermal power. Currently, GAFO Energy NZ Limited is working with the Tanzanian Government to start exploring the high potential regions for producing geothermal power. These areas include the Eastern coastal belt, the Southern Zone with Mbeya and Rukwa regions, and the Northern Zone comprising Mara, Arusha and Kilimanjaro regions.
Electricity is quite expensive in East Africa. In Somalia, the rate of one kilowatt of electricity is approximately one dollar per hour. This cost is ten times more than in the United States and five times more than in Kenya. In 1991, the collapse of the central government completely destroyed Somalia’s energy sector. The people residing there had to use private diesel generators, but those who could not afford these generators had to live without electricity.
The Somalian Government invited GAFO Energy NZ Limited to start discovering renewable energy sources so that the residents of the city could get cheaper and better quality electricity. It has been planned to generate 2000 MW in 20 years.
Geothermal energy is renewable, reliable and sustainable.
It produces less pollution than non-renewable energy sources.
To heat buildings or spin turbines, heat energy is used from the Earth, normally from hydrothermal circulation, hot springs or magma conduits. The reason why this geothermal energy is considered reliable is because the earth has more than 1000 joules of heat energy.
This energy naturally travels to the surface and the conduction rate is 44.2 TW (terawatts). The present energy consumption of all the humans combined is half of this value. However, this diffused energy can only be obtained at lower costs from only some specific areas.
In some specific locations, such as Indonesia, Iceland, and other areas where geothermal activity is at its peak, it is a cheap way of generating electricity and reducing dependency on coal and fossil fuels. Countries such as Costa Rica, Iceland, the Philippines, Kenya and El Salvador are using geothermal sources to generate more than 15 % of their electricity.
It has become very important to minimize coal and fossil fuels to generate electricity and move towards renewable energy sources. Apart from reducing the ever-growing threat of climate change, renewable energy projects can produce electricity that is cheap and affordable.
Furthermore, the processes are also more efficient.
The demand of alternative energy is increasing and clean and reliable energy sources like geothermal are needed on a massive scale to work towards a better future.