Creecy says a climate finance breakthrough is key to COP26 success

South Africa’s Forestry, Fisheries and the Environment Minister Barbara Creecy says a breakthrough is needed at COP26 on the issue of climate finance, warning that the failure of developed countries to honour their $100-billion-a-year commitments has led a breakdown of trust. Addressing a virtual stakeholder consultation session on South Africa’s position ahead of the upcoming climate talks in Glasgow, Scotland, Creecy said that COP26 would not live up to the expectation of being an “ambitious COP” unless clarity was provided on the actual mobilisation of the $100-billion already pledged.
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Eskom seeks urgent court order to have 2022/23 tariff application adjudicated by Nersa

State-owned electricity utility Eskom has approached the Gauteng High Court to have the regulator’s recent decision to reject its revenue application for the period 2022/23 to 2024/25 set aside for being “patently irrational and unlawful”. Eskom approached the court this week for a review of the National Energy Regulator of South Africa’s (Nersa’s) September 30 decision to reject its latest application on the basis that the methodology Nersa used to determine Eskom’s allowable revenue had expired and would be replaced by a new methodology, which was currently the subject of a stakeholder consultation process.
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Zambia’s State power firm Zesco has $3.5bn debt – energy minister

Zambia’s State power utility Zesco had a total debt of $3.5 billion as at September 2021, Energy Minister Peter Kapala told parliament on Friday. He added that Zesco had made $400 million in loses between 2018 and 2019 owing to the depreciation of the local Kwacha currency.
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South Africa’s banks say they can’t cut off funding for coal just yet

South African banks say they have to keep funding at least some coal projects for now because an immediate halt would put huge political and economic strains on a nation that relies on the most polluting of fossil fuels. The top four banks have started to withdraw financing, with Nedbank and FirstRand setting deadlines of 2025 and 2026 respectively to end funding for new thermal coal mines. Both have stopped lending to new coal-fired power plants.
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Opinion: Combatting climate change with green energy solutions for Africa

In this opinion article, Standard Bank head of sustainable finance, wholesale clients Greg Fyfe and head of power, wholesale clients Rentia van Tonder write that Africa has no choice but to join the global drive toward limiting greenhouse-gas emissions; however, the continent must facilitate a just transition for the communities and individual workers who depend on coal and other fossil fuels for their livelihoods, and in a manner that recognises the deep energy poverty across African economies.
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ESG, incorporating green energy to increasingly drive business development

In terms of incorporating environment, social and governance (ESG) conscientiousness into business development models, South Africa, and the financial services sector in particular, has historically, and in recent times, been acknowledged as a global leader, law firm Pinsent Masons transactional services partner Chris Green said this week.

He spoke during a webinar hosted by Creamer Media on behalf of the law firm on corporate power purchase agreements (PPAs) in the age of net zero ambitions and ESG conscientiousness, on October 13.

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Initiative aims to double industry supply in five years

The ‘Doubling of Liquefied Petroleum Gas (LPG) Market’ initiative, driven by the Department of Mineral Resources and Energy (DMRE) and the Liquefied Petroleum Gas Association of South Africa (LPGSA), initiated in December 2019, is slowly gaining momentum after the inevitable impact of Covid-19 on industry as a whole. “The initiative aims to double the LPG market in the next five years as one of government’s interventions to secure electricity supply in South Africa,” says LPGSA MD Gadibolae Dihlabi.
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Biogas engines supplied to ethanol producer

Multinational gas and diesel power plant specialist Clarke Energy has secured the sale of two of gas engine manufacturer Innio Jenbacher’s biogas engines to ethanol distiller PressCane Limited, based in Chikhwawa, Malawi. The ethanol production site generates biofuel in the form of ethanol, which is blended with petrol and sold by oil marketing companies to motorists throughout Malawi.
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Gas-to-power crucial to South Africa’s energy future

Multinational conglomerate General Electric Company (GE) Gas Power strategy & growth director Michael Konadu tells Mining Weekly that although there is no one solution to decrease South Africa’s carbon footprint, gas-to-power will be integral in the mix. He explains that South Africa’s Just Energy Transition must incorporate renewable energy, storage and importantly the use of gas.  
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Need for training in LNG sector recognised

With liquefied natural gas (LNG) expected to grow exponentially over the next five years, owing to the global drive to greener power generation, diverse consulting service provider Synergy Oil & Gas Consulting & Training senior energy manager Ismaeel Fataar says now is the time to upskill workers to keep up with international skills and technological developments. “South Africa currently relies heavily on Mozambique for the supply of LNG, but with training and the correct infrastructure developments in the sector, South Africa can attain supply independence.”
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