Norfund, CDC commit R600m towards wind, solar energy projects in South Africa

Norwegian investment fund for developing countries Norfund has committed to invest R360-million in South African renewables investor and developer H1 Capital, while UK development finance institution (DFI) CDC Group will commit R240-million.

The transaction represents a joint vision by the two DFIs to mobilise climate finance to Africa and back clean infrastructure projects across the continent.

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US official says South Africa aid aimed at coal plants not EVs

A group of the world’s richest nations that pledged $8.5-billion in climate finance to South Africa wants the money to be used to retire coal-fired power plants, according to a senior US official involved in the talks, damping suggestions some could be channelled to producing electric vehicles and green hydrogen. The funds pledged by the US, UK, France, Germany and the European Union and announced at the COP26 climate summit in Glasgow in November, can also be utilized to construct renewable energy facilities, the official said, asking not to be identified as the talks are private.
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Decentralised microgrids a solution to Africa’s mobility crisis

The development of decentralised microgrids that run on renewables should be encouraged and enabled throughout Africa to allow for the adoption of electric vehicles (EV) in remote areas, which would contribute significantly towards resolving mobility challenges across the continent. The proposed solution was supported by several panellists during an African Energy Indaba webinar dealing with energy for transport in Africa on March 2.
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M&R expects to add to record R61bn order book over coming year

Engineering and contracting group Murray & Roberts (M&R) reported a strong recovery in earnings for the interim period to December 31, as well as another increase in its order book, which rose to a record R61.1-billion. The JSE-listed group reported attributable earnings of R55-million and headline earnings a share of 29c, representing a marked improvement on the R167-million attributable loss and 8c a share headline loss reported in the corresponding period of 2021.
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Energy efficiency part of net-zero journey, but investments, renewable energy needed for broad …

Energy efficiency is an important component to reaching net-zero greenhouse-gas emissions, lifting people out of energy poverty and enabling development, but requires public and private investment to secure these benefits, as well as growing development and use of renewable energy sources, speakers said during the African Energy Indaba ‘Role of Energy Efficiency in Achieving Net Zero’ panel discussion on March 2. Renewable energy engineering, procurement and construction company Turnkey Solar Solutions CEO Maurits Perold said various case studies, and the company’s own experiences in implementing projects, show that phased energy efficiency initiatives contribute to offsetting about 7% to 10% of total energy costs.
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Several factors limiting financial support for African renewable energy projects

There are significant opportunities in Africa for renewable energy but securing financial backing for projects can be a problem owing to a number of challenges facing the investor community. This was indicated by speakers during a panel discussion at the African Energy Indaba on March 1.
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New SAIIA paper highlights IMF’s role in supporting South African just transition

Global finance organisation the International Monetary Fund (IMF) has an important role to play in supporting South Africa’s just transition away from fossil-fuel dependence, independent think-tank the South African Institute of International Affairs (SAIIA) has found. The organisation this week launched a new research paper that seeks to explore the potential role of the IMF in supporting the country’s just energy transition.
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Cyber, electricity, riot insurance risks becoming increasingly complicated to manage

South Africa’s infrastructure is vulnerable to cyberattacks, as highlighted during 2021, while the risk of the electricity grid’s failure accelerated in 2021. There are also concerns that a repeat of the riots experienced in July last year could be on the horizon in 2022, says insurance company Old Mutual Insure MD Garth Napier.
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Sakhumnotho Power, Keren Energy partner on 100 kW green hydrogen proof-of-concept project

Investment holding company Sakhumnotho business unit Sakhumnotho Power has partnered with energy project development company Keren Energy Investments to undertake a proof-of-concept project to produce green hydrogen at a site supplied by Namaqua Engineering, in Vredendal, in the Western Cape. The site has a 100 kW photovoltaic solar system installed and this renewable energy will be used as the primary energy to produce green hydrogen. The hydrogen generated will, ultimately, be used in fuel cell vehicles in the future.
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Number of considerations as Africa pursues just energy transition

As African countries pursue an energy transition, it is vital that this process be just and takes into account the impact on jobs and communities, and this requires a number of considerations, including developing proper policy, being cognisant of regional differences while also seeking an integrated approach, and pursuing an ideal energy mix. This was indicated by speakers during the African Energy Indaba on March 1.
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