Businesses need to continuously adapt their strategies, invest in new solutions and embrace changing leadership approaches as the energy sector undergoes significant transformation, business executives have said.
Brian Nalishuwa of Copperbelt Energy Corporation (CEC) said the transition towards renewable energy was creating both opportunities and technical challenges, particularly around integrating variable renewable power into the electricity grid.
Nalishuwa
Nalishuwa said one of the key challenges facing energy producers, as well as lenders and financing partners, was understanding how additional renewable energy projects would affect the stability and reliability of the grid.
He said operators were, therefore, working with various partners on solutions aimed at improving the reliability of power supplied to the grid, including battery energy storage systems and other technologies.
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“From a technical point of view, one of the challenges which also affects a lot of lenders and financing partners is the integration of lower energy projects on the grid,” he said.
Nalishuwa said CEC was assessing the impact of battery storage systems while also considering other technological options that could help manage the changing power mix.
He said the objective was to ensure that as new power-generation capacity was deployed, disruptions to the electricity system were minimised.
“We’re currently looking at understanding the impact of battery storage systems, while also looking at other technological options,” he said.
Cedrus Chief Executive Officer, Olubusayo Adeniyi, said the ability to adapt also depended heavily on leadership, arguing that vision needed to be backed by genuine passion and commitment.
Adeniyi said leaders could have a clear vision, but without passion they would struggle to pursue it and overcome the challenges involved in turning that vision into reality.
He said passion was critical to creating the dynamism required to move organisations forward.
These comments point to a broader shift in the business environment, where companies are increasingly required to combine technological innovation, responsible investment, strong governance and adaptive leadership to remain competitive as the energy sector evolves.
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