Nedbank, Norfund to lend Pele Green R2.5bn for renewable power plants

Pele Green Energy has secured R2.5-billion in funding from lenders including Nedbank Group to help it build renewable power plants including one ordered by Anglo American Platinum. The other creditors include Norfund and the Industrial Development Corporation (IDC), development finance institutions owned by the governments of Norway and South Africa respectively, said Gqi Raoleka, Pele’s MD. Nedbank will provide R1-billion, the IDC R829-million and Norfund R658-million.
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South Africa moves to procure 5GW of renewables, 2GW of gas-to-power, 615 MW of battery storage

The South African government has released three requests for proposals (RFPs) for new electricity generation and storage capacity, including 5 000 MW of new wind and solar, 2 000 MW of gas-to-power and 615 MW/2 460 MWh of battery storage. Under the much anticipated and delayed seventh bid window (BW7) of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), the Department of Mineral Resources and Energy (DMRE) is seeking bids by April 30 for the development of 3 200 MW of wind and 1 800 MW of solar photovoltaic (PV).
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South Africa launches renewables procurement round for 5 000 MW of wind and solar

The Department of Mineral Resources and Energy (DMRE) has released the much-anticipated and delayed seventh bid window (BW7) of Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), through which it will be seeking bids for the development of 3 200 MW of wind and 1 800 MW of solar photovoltaic (PV). In a statement, the department notes that BW7 was the first bidding round launched in line with the Ministerial Determination published by Mineral Resources and Energy Minister Gwede Mantashe in December 2022. The determination outlined an intention to procure 14 771 MW of new generation and storage capacity, including 3 940 MW of solar PV, 9 600 MW of wind and 1 231 MW of battery energy storage.
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Release by Scatec secures $100m loan, guarantee from the IFC

Modular solar photovoltaic and battery energy storage offering Release by Scatec has signed a $100-million loan agreement with the International Finance Corporation (IFC), as part of a larger partnership to provide a simpler, more affordable, and cleaner offering of power to African utilities. The loan also includes a $65-million guarantee facility to support the payment obligations of Release’s customers. 
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Eskom set for seventh full-year loss as power cuts grip South Africa

South Africa’s Eskom Holdings is on track to post its seventh consecutive full-year loss as the utility crumbles under the weight of its debt pile and high financing costs, poor plant performance and a ballooning municipality arrears book. The state-owned electricity provider posted a 1.62 billion-rand ($85 million) interim profit in the period through Sept. 30, from a prior 3.8 billion-rand profit a year earlier, the company said in a statement posted on its website on Wednesday.
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