Private sector investment in energy to lift employment, economic growth – report

Solar power investment will reduce loadshedding and increase employment growth in 2024, and jobs are being created on the back of a growing resilience among businesses against the negative impacts of loadshedding, says assurance, advisory and tax services firm PwC South Africa in its eighth ‘South Africa Economic Outlook’ report. Employment is growing at a faster rate than many have expected given the elevated levels of loadshedding. The pipeline for large-scale solar projects is also improving the outlook for economic and employment growth in 2024 and beyond, it says in the report.
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M&R ‘still in race’ to regain RUC as it seeks to rebuild from 2023 shock

Downscaled engineering and contracting group Murray & Roberts (M&R) is continuing with efforts to regain control of RUC, the Australian mining services business it lost when its Australian holding company and Clough entered voluntary administration in December. Speaking at the company’s results presentation, CEO Henry Laas refused to be drawn on the precise nature of processes currently being pursued to recover the company, saying only “we are still in the race”.
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Stage 4 loadshedding to continue until Sunday morning

Power utility Eskom says Stage 4 loadshedding will continue to be implemented daily until 05:00 on Sunday. Thereafter, Stage 2 loadshedding will be implemented until 16:00. “This is necessary due to the need to recover emergency generation reserves, and the generation maintenance to be implemented in preparation for the coming week,” it states.
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Two more risk mitigation hybrid projects take steps toward financial close

Two more preferred bidders selected as part of the much-delayed Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP), which was launched as an emergency procurement round in 2020, have signed project agreements signalling legal close and have until December to reach financial close. The projects, which have a combined investment value of R14.6-billion, are the 128 MW Oya Energy Hybrid Facility, proposed for development in Matjiesfontein, which straddles the Northern and Western Cape provinces, and the 75 MW Umoyilanga Energy, near Avondale in the Northern Cape and Dassiesridge, in the Eastern Cape.
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