Eskom mulls legal options as Energy Regulator rejects MYPD5 application

The Energy Regulator has voted to reject Eskom’s fifth multiyear price determination (MYPD5) application for the three financial years from 2022/23 to 2024/25 and will now request the utility to make a new submission under a new methodology, which is yet to be finalised. The State-owned utility told Engineering News & Mining Weekly that it was “considering the options available to it in terms of the law” following the decision and stressed that it was committed to ensuring that the required legal and consultation processes were followed.
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Sun Exchange secures $2.5m convertible note financing

Crowd-based solar leasing platform Sun Exchange has secured $2.5-million in convertible note financing from Mauritian private equity fund ARPF, which is advised by London-based ARCH Emerging Markets Partners (ARCH). This follows the company’s close of a $4-million Series A funding round in 2020, led by a $3-million investment from ARCH.
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Germany commits €100m to Sefa to unlock private investment in renewable energy

The German government will contribute €100-million to the African Development Bank’s Sustainable Energy Fund for Africa (Sefa), affirming its commitment to efforts to tap Africa’s renewable energy potential and drive its transition to clean energy sources. The funding will be used to unlock private sector investment in green baseload projects. Specifically, it will support technical assistance and investment in power generation, transmission and distribution to increase penetration of renewable power in African grids.
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Mantashe touts coal carbon capture as envoys meet

South Africa’s energy minister encouraged investment in technology that could potentially prolong the use of coal by mitigating emissions while a visiting delegation of rich nations were working on a plan to end the nation’s dependence on the fossil fuel. The call by Mineral and Energy Resources Minister Gwede Mantashe at a mining investment conference comes as envoys from the US, UK, Germany, France and the European Union meet with South African ministers, labour and business leaders around a $5-billion fund to reduce the country’s dependence on coal.
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Africa needs $240bn to transition to clean energy, Ramaphosa says

Sub-Saharan Africa needs $240-billion for the region to transition to a clean energy, South African President Cyril Ramaphosa told reporters in Johannesburg on Wednesday. “We need grant funding to help us transition,” he said. “If we get the funding we will migrate far quicker to renewable energy.”
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