Archive for month: November, 2021

Financial services company Nedbank on November 25 launched its revised corporate social investment (CSI) strategy, which will focus on the green economy elements of agriculture, water, energy and waste, in recognition that a green economy approach is a key enabler of economic growth, social upliftment and inclusivity, while protecting the country’s natural ecosystems, said Nedbank group market and corporate affairs group executive Khensani Nobanda. “Building a green economy is the only viable path to a resource-efficient, low-carbon and pro-employment future for our country, and our commitment to the green economy as the anchor for our strategy is one of the key ways we can contribute to the realisation of this goal and the economy’s sustainability and effectiveness,” she added.

The National Nuclear Regulator on November 23 and 24 hosted public hearings into the Thyspunt nuclear installation site licence application made by power utility Eskom, during which the South African Nuclear Energy Corporation (Necsa) highlighted its support for the installation. The corporation said a nuclear power project could contribute to the country’s security of electricity supply at a low cost and provide stable employment over the lifetime of the plant.

US-based utility-scale solar tracker technology multinational Array Technologies has entered into a definitive agreement to acquire Spain-based solar tracker manufacturer Soluciones Técnicas Integrales Norland (STI Norland) for about €570-million in cash and stock, which will help to accelerate international expansion plans. “STI Norland brings to Array a proven product line that is ideally suited for complementary markets, which will help to accelerate our international expansion plans. The increased scale of the combined enterprise also provides opportunities for significant cost reduction as we drive greater volumes with our suppliers and achieve increased leverage on our fixed costs,” says Array chairperson Brad Forth.

South Africa’s deepening energy crisis looks set to persist for at least two more years, with operational problems at the monolithic state power utility showing no signs of abating and plans to add new generation capacity ensnared in legal wrangling and red tape. The meltdown at Eskom Holdings, which supplies more than 90% of the nation’s electricity, is a legacy of chronic mismanagement and rampant corruption during former President Jacob Zuma’s tenure along with a failure to adequately maintain plants and invest in new ones. Andre de Ruyter, who took over as chief executive officer in January 2020, has fallen short on a pledge to ease rolling blackouts, with the rot permeating far deeper than he initially anticipated.

The Department of Forestry, Fisheries and the Environment says it is appointing an “independent expert” to assist Minister Barbara Creecy in responding to an appeal by floating powership provider Karpowership SA. Karpowership SA, which falls under Turkey’s Karadeniz Energy Group, was in March named a preferred bidder in the state’s Risk Mitigation IPP Procurement Programme (RMIPPPP) to fast-track the production of new power to cut down on load shedding.