Independent grid and market operator ‘required’ to attract much-needed generation …

Eskom CEO Andre de Ruyter has drawn a direct link between securing the investment required to address South Africa’s growth-sapping electricity supply gaps – including some R100-billion to further develop the grid in ways to unlock what will be mostly private generation investment ­– and the creation of an Independent Transmission System and Market Operator (ITSMO). Speaking during a webinar on Thursday, De Ruyter stressed that private investment in generation “requires independence in transmission and market operation” to overcome concerns of potential bias in areas such as grid and market access, dispatch instructions and procurement decisions.
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Ramaphosa promises rapid power roll-out, but two-year timeframe for solving crisis ambitious

President Cyril Ramaphosa listed the rapid expansion of South Africa’s electricity generation, primarily through the building of additional renewable-energy capacity, as a key priority in government’s long-waited ‘Reconstruction and Recovery Plan’, which he unveiled in Parliament on Thursday. The other components of the plan, developed in response to the economic and employment fallout from the Covid-19 pandemic, included: a multibillion-rand infrastructure roll-out; the creation of 800 000 employment opportunities through public works schemes; initiatives to revive industrial growth; a fast-tracking of reforms to reduce the cost of doing business and lower barriers to entry; actions to combat crime and corruption; and programmes aimed at improving the capability of the State.
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Ramaphosa unveils infrastructure, jobs plan after Covid-19 hit

South Africa will roll out a big infrastructure spending programme and large-scale employment stimulus to revive an economy that was ailing even before the coronavirus crisis, President Cyril Ramaphosa said on Thursday. Unveiling a Covid-19 economic recovery plan in parliament, Ramaphosa said the government would unlock more than R1-trillion rand in infrastructure investment over the next four years and would create more than 800 000 jobs in the immediate term. Government is also working on finalising a long-term solution to State power utility Eskom’s debt burden, without giving a time frame.
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Standard Bank continues to increase exposure to renewables, move away from coal

Standard Bank has released its interim Task Force on Climate-related Financial Disclosures report, highlighting that environmental, social and governance aspects remain at the centre of the bank’s agenda of driving sustainable and inclusive growth in Africa.

Sustainability head Wendy Dobson says the bank continues to consider climate-related risk as a top risk and material issue and its working to better understand and manage its exposure.

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