Real estate investment trust (Reit) Fortress is effectively executing its development strategy and has managed to secure tenants for about 340 000 square metres of gross lettable area (GLA) out of its one-million square metre GLA logistics development pipeline in South Africa. Nearly 62 500 square metres of GLA was completed and let in the six-month interim reporting period to the end of December 2020, while the remainder of about 278 000 square metres is work-in-progress.
A new Council for Scientific and Industrial Research (CSIR) report offers a sobering picture of declining electricity system production and demand between 2010 and 2020 – a trend that was amplified further during Covid-hit 2020, when demand slumped by a sharp 5.1%, or 11.8 TWh, to a decade low level of 227 TWh. Titled ‘Statistics of utility-scale power generation in South Africa in 2020’, the report has been compiled by the CSIR Energy Centre’s Joanne Calitz and Dr Jarrad Wright.
Domestic natural gas and helium producer Renergen has made another significant gas strike at its Virginia gas project, this time in well MDR1, 300 m north of the currently producing MDR5 well. The Virginia project is located in South Africa’s Free State province.
In the second part of its special coverage on the impact of hydrogen on the mining and metals sector, Fitch Solutions Country Risk & Industry Research (Fitch Solutions) reports that it believes green hydrogen will be adopted in the metals sector, in particular in the steel sector, in the longer term.
Green hydrogen will be increasingly used to decarbonise steel production, which is now a priority for many steelmakers in developed markets, as the steel industry accounts for about 9% of global carbon dioxide emissions, largely from blast furnace-based steelmaking, Fitch Solutions notes.
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