Investing in South African cities as part of a green and just recovery from the pandemic can create and support 1.8-million green jobs by 2030, with nearly 1.1-million of those jobs in the buildings, power and sustainable transport sectors. A further 674 000 jobs can be generated and supported locally within cities. Investing in adaptation and nature-based solutions to tackle extreme weather events, such as floods and droughts, can produce an additional 705 000 sustainable jobs across the country.
South Africa’s economy has had to deal with bouts of load-shedding since 2008 while the procurement of new renewables capacity under the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) was delayed for a number of years, but renewable energy company Dornier-Suntrace is optimistic about the country’s clean energy prospects going forward.
CEO Boris Westphal, who has been involved in the local renewable energy industry since 2010, says the REIPPPP was one of the most successful energy auction programmes globally up to 2014 when it was stalled.
There are fears of a global energy supply crisis affecting electricity and fuel security, precipitated by Russia’s invasion of Ukraine, while uncertainty around oil supply from Russia, which is the world’s third-largest producer, has sent the oil price soaring. Further, with efforts by European countries to reduce their reliance on Russian gas, energy efficiency will become the single most effective tool to remedy high demand and low capacity or supply, says South African National Energy Development Institute (SANEDI) energy efficiency and corporate communications GM Barry Bredenkamp.
Renewable energy company Scatec has promoted project development executive VP Terje Pilskog to CEO, effective May 1, when incumbent Raymond Carlsen will step down after a 13-year tenure. “Pilskog has been instrumental in the strategic development of Scatec and has first-hand experience with both the commercial and operational aspects of the company. We are confident he is the right man to continue the development of Scatec as a . . . provider of renewable energy solutions globally,” said Scatec chairperson John Andersen Jr on March 28.
JSE-listed construction materials supplier Raubex expects its earnings a share for the financial year ended February 28 to be at least 231% higher year-on-year, while its headline earnings a share are expected to be at least 250% higher year-on-year.
The company had posted earnings a share and headline earnings a share of 87.4c and 81.9c, respectively, in the prior financial year.
South Africa’s current Integrated Resource Plan (IRP) is significantly underestimating what new capacity should be being built to cater for the decommissioning of the coal-fired power stations and any future demand growth, African Rainbow Energy and Power (AREP) CEO Brian Dames has warned. Speaking during a breakaway session on energy at the recent South Africa Investment Conference, the former Eskom CEO argued that the plan – published in late 2019 and which energy commentors frequently describe as being sorely out of date – “should be a lot more aggressive”.
South African specialist investment company Futuregrowth Asset Management has expressed the view that nuclear power “should not be dismissed outright” as a long-term contributor to the country’s electricity generation system. Futuregrowth currently manages assets worth some R193-billion, or about $12-billion (these being the values on December 31 last year). In an ‘Insight’ note published on Thursday, Investment Analyst Bongile James and Portfolio Manager Paul Semple acknowledged concerns in South Africa regarding the construction of new nuclear power plants (NPPs) in the country. “Nuclear power as a long-term solution to our energy woes is a sensitive topic, partly due to the ramifications for our country of the substandard design and poor build quality of [the new and coal-fired] Medupi and Kusile, the last mega-power plants constructed in SA investmentSouth Africa,” they noted. “There are also concerns about Eskom’s ability to procure, build an operate a new nuclear power project.”
Research institution Trade & Industrial Policy Strategies (TIPS) has unpacked how just energy transition (JET) projects require a different approach to planning, financing and development, away from the traditional model.
Addressing delegates during a webinar on March 24, TIPS senior economist Gaylor Montmasson-Clair pointed out that tools for just transition projects were different to those used for traditional energy projects, and, as it stands, not enough on-the-ground thinking is being done to realise successful projects.
Research institution Trade & Industrial Policy Strategies (TIPS) has unpacked how just energy transition (JET) projects require a different approach to planning, financing and development, away from the traditional model.
Addressing delegates during a webinar on March 24, TIPS senior economist Gaylor Montmasson-Clair pointed out that tools for just transition projects were different to those used for traditional energy projects, and, as it stands, not enough on-the-ground thinking is being done to realise successful projects.
Project management skills are imperative to ensure that South Africa’s clean energy transition is successful, says organisation National Society of Black Engineers (NSBE) president Mdu Mlaba and nonprofit organisation Project Management Institute (PMI) business development lead George Asamani. Mlaba explains that the energy transition will bring about new energy initiatives, such as green hydrogen projects, which will, consequently, create opportunities for project managers in the renewable-energy, oil, gas and clean hydrogen space.
INDUSTRY NEWS
- IMF urges South Africa to prioritise ongoing electricity and logistics reform to enhance …November 27, 2024 - 5:04 pm
- Eskom reports successful conversion of its prepaid customer base to KRN 2November 27, 2024 - 12:04 pm
- Eskom welcomes S&P rating upgrade to positive from stableNovember 27, 2024 - 11:04 am
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