Mahlako launches R1.5bn renewables, gas and energy services fund

Female-owned investment fund manager Mahlako Financial Services has launched a R1.5-billion investment fund that will invest in businesses and energy projects with growth potential along the entire value chain to close the energy infrastructure gap in South Africa and transform the sector. “We back our portfolio companies holistically beyond providing working capital. Aside from our expertise, we provide access to a strategic network of resources and future funding partners to bring the best support for the most promising businesses contributing to the energy transition,” says Mahlako co-founder Meta Mhlarhi.
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Wärtsilä sings maintenance agreement with Nigerian energy supplier

Technology group Wärtsilä has signed a long-term optimised maintenance agreement covering power plants in three locations owned by 100% privately-owned Nigerian energy provider Paras Energy. The aim of the agreement is to ensure the plants’ continued high levels of availability, reliability and efficiency, while providing important cost predictability for future budgeting purposes.
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Customers using rewards to mitigate electricity increases, FNB says

According to insights from financial service provider FNB, electricity spend is one of the largest spend categories for entry to middle income customers, and in the wake of the 15% increase in electricity tariffs for 2021/22, many households will have to review their monthly budgets to accommodate the increase and overall cost of living. FNB data shows that the average electricity spend by a customer who holds its Entry Market bank account (Easy account holder) increased by 9% (on average) between 2019 and 2020.
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Agreements finalised for 200 MW Egyptian solar PV plant

Saudi-based power generation and desalinated water plant developer, investor and operator Acwa Power has finalised the project agreements for the 200 MW Kom Ombo solar photovoltaic (PV) plant, in Egypt.

Construction of the plant is expected to start in the third quarter of this year.

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Oracle says Eskom must pay up, as utility warns of ‘catastrophic consequences’ of loss of support

Business software giant Oracle has said Eskom should “pay the pending dues for the Oracle software that they use,” after the power utility last week lost a court application to compel the US corporation to renew its support services until April 2022.  Oracle provides a range of IT services, which the struggling utility in court papers described as “quite essential to some of Eskom’s crucial operations”.
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