World Bank warns of extreme poverty setback as South Africa is buffeted by Covid

The World Bank expects the South African economy to recover by 3.3% in 2021 and return to a “near potential pace” of 1.7% in 2022 after contracting by an estimated 7.8% during Covid-afflicted 2020. However, it warns in its flagship Global Economic Prospects report, published on Tuesday, that the pandemic has precipitated a dramatic fall in per capita income, which has pushed tens of million more people in South Africa and the rest of Sub-Saharan Africa into extreme poverty.
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Tembo Power appoints new financial structuring MD

Africa-focused hydropower developer Tembo Power Holdings (TPH), formerly Tembo Power Limited, has appointed Jacques Barouhiel to lead its financial structuring business as MD.

TPH is an independent power producer (IPP) with a focus on small hydropower in sub-Saharan Africa. It holds rights over 13 projects across Kenya, the Democratic Republic of Congo, Burundi and Cameroon, for a total installed capacity of about 300 MW.

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Scatec launches new logo, profile

Power plant company Scatec has launched its new logo and profile, with this transformation following the company’s broadened growth strategy and the name change to Scatec from Scatec Solar. “2020 was a monumental year for Scatec. During the crisis, we made the greatest expansion since our establishment, by broadening our strategy and acquiring SN Power. I am, therefore, pleased to start the new year by unveiling a profile and logo supporting our ambition to become a global large-scale player in solar, hydro, wind and storage solutions, and an integrator of high-value infrastructure solutions,” says CEO Raymond Carlsen.
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Nxuba Wind Farm enters commercial operations

Renewable energy developer and operator Enel Group’s South African renewable energy subsidiary Enel Green Power (EGP) has successfully reached commercial operation of its 140 MW Nxuba wind farm in the Eastern Cape.

The project, built at a cost of about €200-million, is expected to generate 460 GWh/y of energy.

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Unplanned shut of Koeberg Unit 1 affects installation of new steam generators, raises …

Electricity utility Eskom reported on Monday that Koeberg Unit 1 would be taken offline for repairs one month ahead of scheduled maintenance after an increasing leak rate was detected from one of the unit’s three steam generators. Eskom said in a statement that the leak rate was “well within the safety limits” and posed “no risk to plant, personnel, or the environment”. It also described the decision to take the unit offline as a conservative one.
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IFC extends $200m loan to Nedbank to increase renewable energy financing

The International Finance Corporation (IFC), a member of the World Bank Group, and Nedbank have partnered to increase financing for renewable energy projects in South Africa in an effort to help the country transition to cleaner forms of power, reduce greenhouse-gas (GHG) emissions and create jobs in the renewable energy sector.
 
Being the third investment dedicated to green finance in South Africa’s financial sector, the IFC will provide Nedbank with a loan of up to $200-million to help it expand its green finance operations and grow its climate portfolio by funding renewable energy projects.
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Siemens Gamesa seals first wind farm project in Ethiopia

Engineering company Siemens Gamesa will deliver 29 SG 3.4-132 wind turbines to State-owned utility Ethiopian Electric Power (EEP) for the Assela project − a 100 MW wind farm that will help power over 400 000 Ethiopian households. The wind farm is set to be commissioned by spring 2023 and is slated to save more than 260 000 t of CO2/y of emissions.
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