Africa- and UK-focused energy company Kibo Energy on April 19 said it had started an extensive due diligence process for the potential acquisition of all or part of a prospective portfolio of renewable energy projects in the UK. The portfolio comprises several standalone renewable energy projects, focusing on the generation and/or storage of electric power from renewable generation sources.
Singapore-based investment company Pavilion Capital has become a limited partner in venture capital manager AP Ventures’ Fund II.
In welcoming Pavilion Capital as its eighth limited partner, AP Ventures and its portfolio companies “look forward to benefitting” from working with a Singapore-based investor focused on the North Asian and Southeast Asian economies, states AP Ventures.
An energy expert has written to the Department of Public Works and Infrastructure (DPWI) and the Independent Power Producer (IPP) Office to highlight the expensive shortcomings of the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP), which he says should be replaced by a materially larger, yet more cost-effective, procurement programme based primarily on renewables and storage, rather than power ships. DPWI, together with The Presidency, is overseeing the implementation of the Strategic Infrastructure Projects, or SIPS, earmarked for priority implementation as part of government’s economic recovery from the Covid-19 pandemic. The RMIPPPP is one of the 62 initial SIPS Gazetted in line with the Infrastructure Development Act.
Eskom Holdings said it was urgently seeking new providers of technical support after Oracle Corp’s South African unit withdrew its services over a payment dispute. The State power utility has been in a disagreement with Oracle, which initially claimed Eskom underpaid it by about R7.3-billion, before reducing the amount to R380-million.
Natural gas is falling out of favor with emissions-wary investors and utilities at a quicker pace than coal did, catching some power generators unaware and potentially leaving them stuck with billions of dollars of assets they can’t sell. Citigroup Inc. and JPMorgan Chase & Co. are among the banks that strengthened their financing restrictions on thermal coal under pressure from shareholders wanting to avoid the fuel, and the expectation is that gas is next. Executives at some western European companies say they’re already struggling to sell gas-fired facilities.
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