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.
Energy solutions companies Probe Corporation and Sinetech have joined forces to offer a complete range of solutions for the solar and broader renewable energy market. Probe acquired a 51% stake in Sinetech in October.
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.
President Cyril Ramaphosa will chair an inter-Ministerial committee that is being established to coordinate further work on the country’s just transition plan, as well as the R131-billion climate-finance offer made to South Africa at the recent COP26 climate gathering. Following a briefing on the outcomes of the Glasgow summit by Forestry, Fisheries and the Environment Minister Barbara Creecy this week, Cabinet welcomed what it described as the “historic Just Transition Partnership” established with France, Germany, the UK, the US and the European Union, which was announced at COP26.
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.
Developing green hydrogen export capacity at the ports of Saldanha Bay and Ngqura would have decarbonisation spinoffs for nearby hard-to-abate sectors, a new Council for Scientific and Industrial Research (CSIR) study shows. Produced as a follow-up to an earlier research report that assessed whether South Africa could be competitive in producing green hydrogen and derivative products for export to Europe and Japan, the new study homes in on the domestic offtake prospects at the two ports identified in the initial study as potential export hubs.
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.
Energy company Enel has brought forward its net-zero commitment by ten years, from 2050 to 2040, for direct and indirect emissions. The company has announced in its ‘2022 – 2024 Strategic Plan’ that it expects to mobilise investments of €210-billion between this year and 2030, of which €170-billion would be directly invested by the Enel group and €40-billion catalysed through third parties.
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.
The Namibian government may release a second request for proposal (RFP) early next year for the development of another large-scale green-hydrogen complex, having announced a preferred bidder for the first such project in early November. Presidential Economic Adviser James Mnyupe told delegates to the virtual Africa Green Hydrogen Forum on November 23 that Namibia may make an announcement on the new RFP at the World Economic Forum, scheduled to take place in Davos, Switzerland, from January 17 to 21.
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