Financial services firm Absa has announced that its long-term ambition is to reach net-zero by 2050 for Scope 1, 2 and 3 greenhouse-gas emissions. It has also committed to setting near- and long-term Scope 1 and 2 emissions reduction targets and having these targets validated by private sector climate action organisation the Science-Based Targets initiative.
In the executive summary of a new report, commissioned by the African Climate Foundation, Intellidex writes that the status quo is not fit for purpose to support the financing of the social justice issues in the Just Energy Transition required and more innovative thinking on structures, institutions and combinations of capital flows are required urgently to generate the kinds of scales of financing for transition projects across mitigation, adaptation and resilience.
In this opinion article, South African National Energy Development Institute CEO Dr Titus Mathe writes about the role of electric vehicles in South Africa’s energy transition.
The Democratic Alliance (DA) Shadow Minister of Mineral Resources and Energy Kevin Mileham said on Friday that Electricity Minister Kgosientsho Ramokgopa’s remarks, which suggest there is no urgency to unbundle Eskom, spread further uncertainty among investors with stakes in independent power generation projects across the country. Mileham says South Africa needs clear direction and policy certainty during a crippling energy crisis.
Further to its energy security initiatives to become independent from the national grid, the City of Cape Town has issued a request for information (RFI) asking the market for energy trading solutions, including market operation and underwriting and energy aggregation services.
Interested stakeholders are invited to access the RFI on the city’s tender portal at http://web1.capetown.gov.za/web1/TenderPortal/Tender and to submit responses by April 19.
Renewable-energy solution provider Solar MD has noted a 300% growth in demand for energy storage solutions in South Africa, owing to increasing demand for energy storage products in the residential, commercial and industrial sectors. “While the residential sector has shown steady linear growth, the industrial sector has been experiencing exponential growth, owing to the need to address energy supply challenges and improve energy efficiency,” says Solar MD CEO Kaloyan Dimov.
The lack of transmission infrastructure public funding for grid strengthening and expansion has emerged as a binding constraint on connecting much-needed private generation and on South Africa’s transitioning to a more reliable and cleaner electricity sector. Thus, there are growing calls for not only the separation of the National Transmission Company South Africa from generation-focused Eskom but also private-sector participation in the funding, building and operation of parts of the grid to accelerate the development of the infrastructure needed to end loadshedding and facilitate the energy transition.
The just energy transition (JET) in South Africa provides global power technologies leader Hitachi Energy with opportunities to supply the utility, industry and infrastructure sectors with innovative solutions and services across the energy sector value chain. “Digital and energy platforms are needed for the enormous power system energy transition challenges of increased complexity and additional capacity requirements. These platforms allow for greater grid resilience and help manage the shift to a more complex power generation landscape by matching fluctuations in power supply and demand dynamically,” explains Hitachi Energy MD for sub-Saharan Africa Malvin Naicker.
Recent regulatory changes in the local energy sector – such as the lifting of the licensing threshold for independent power generation – will help boost solar energy equipment supplier GameChange Solar’s involvement in energy projects. “The lifting of the threshold, however, is not a switch that allow for projects to move instantly,” says GameChange Solar Southern Africa regional director Russ Bowden, adding that projects larger than 100 MW are large investments with many stakeholders, as such projects require prudent planning and execution to ensure a sound investment.
Despite the disappointment for the local wind industry over the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) Bid Window 6 – which did not approve any new wind generation capacity – wind turbine designer and manufacturer Nordex Energy South Africa regards the country as a key market. The company is committed to South Africa, with “great potential in both public and private procurement”.
INDUSTRY NEWS
- DMRE to push for Cabinet approval of new-look IRP by end-March despite big revisionsNovember 26, 2024 - 6:04 pm
- NTCSA appoints EPC suppliers for transmission substationsNovember 25, 2024 - 5:05 pm
- Eskom finalises technical breakthrough enabling it to extend deadline for meter conversionsNovember 25, 2024 - 1:04 pm
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