Ebitda, operating profit improvements illustrate Bushveld’s ‘strong’ interim results

Aim-quoted integrated vanadium producer and energy storage solutions provider Bushveld Minerals on September 13 reported significant improvements in revenue, earnings before interest, taxes depreciation and amortisation (Ebitda) and operating profit for the six months ended June 30.   Bushveld FD Tanya Chikanza noted that revenue had increased by 62% year-on-year to $76.2-million for the period under review. This increase was one of the key factors in improving adjusted Ebitda, which swung from a loss of $15.6-million in the 2021 interim period –  an improvement of $26.4-million year-on-year.
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Creecy outlines rules exempting solar projects from environmental authorisation

Forestry, Fisheries and the Environment Minister Barbara Creecy has initiated public consultations on the exclusion of solar photovoltaic (PV) installations from the need to secure an environmental authorisation when located in areas of medium or low environmental sensitivity. The Minister has given the public 30 days to comment on the proposed exclusion, which is provided for in Section 24(2)(e) of the National Environmental Management Act.
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South African business formations make joint appeal for carbon-tax relief

Several organised business formations have outlined six recommendations in a joint position statement on carbon tax, which they argue will improve the carbon tax proposals in the Taxation Laws Amendment Bill and “avert unintended consequences”. Released by the Energy Council of South Africa, Minerals Council South Africa, Business Leadership South Africa, Business Unity South Africa, the South African Petroleum Industry Association and the Energy Intensive Users Group, the joint statement stresses that organised business is supportive of carbon pricing, including the carbon tax, to help decarbonise the economy and facilitate a just transition.
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Cascading problems after Kendal coal conveyor belt broke led to Stage 4

Eskom had to jump to Stage 4 load-shedding on Tuesday morning after a coal conveyor belt broke at Kendal, leading to cascading problems and the failure of three units at the power station.  “In the early hours of this morning a conveyor belt feeding coal into Kendal Power Station failed. To conserve coal, the power output of the generators was reduced, but this required fuel oil to be used to sustain the boiler combustion,” Eskom said in a statement. 
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South Africa close to producing plan for Western climate aid despite hurdles

South African ministers will meet in the coming days to discuss an investment plan for billions of dollars pledged by rich nations for a transition to green energy, aiming to complete it before November’s COP27 climate summit, the environment minister said. At talks in Glasgow last year, the European Union, Britain, France and Germany promised $8.5 billion to help the country kick start a shift from carbon-intensive coal to cleaner energy.
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Absa funds South Africa’s first utility-scale renewable energy captive power project

Financial services provider Absa acted as joint mandated lead arranger and lender for South Africa’s first utility-scale renewable energy captive power project, which will be built in the North West at an estimated cost of about R4.1-billion. The project – comprising of two projects of 100 MW each – is being developed by SOLA Group of South Africa and will supply power to Tronox Holdings’  South African operations, Tronox SA, under a long-term power purchase agreement.
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Nersa corrects gas concurrence notice, says 3 000 MW relates to Eskom Richards Bay request

The National Energy Regulator of South Africa (Nersa) has published an erratum to a consultation paper published for public comment on August 25 in relation to it providing concurrence to a Ministerial determination for the procurement of 3 000 MW of gas-fired electricity. The original notice and consultation paper said that the 3 000 MW was based on an allocation for gas/diesel generation outlined in Table 5 of the Integrated Resource Plan of 2019 (IRP2019).
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Load-shedding to escalate to Stage 4 on Tuesday morning

Load-shedding will escalate to Stage 4 at 10:00 on Tuesday morning, and will last until 05:00 on Thursday, Eskom has announced.  This was after three units Kendal Power Station, with 1 920 MW maximum generating capacity, suddenly tripped. 
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