Contract negotiations for Secunda sustainable aviation fuel project may be concluded by mid-2024

Contractual negotiations are under way between the developers of the HySHiFT sustainable aviation fuel (SAF) project, in Mpumalanga, and the intermediary company set up under Germany’s H2Global scheme, known as Hintco, which enters into long-term purchase contracts for clean hydrogen and derivatives such as ammonia, methanol, and SAF. Speaking at Resources for Africa’s 2024 Hydrogen Discussion in Johannesburg Enertrag business case development manager Jonathan Metcalfe reported that the project, which is being developed by Sasol, Linde, Enertrag and Hydregen, had been selected as a preferred bidder and that the negotiations for a ten-year offtake deal could be concluded by mid-2024.
/by

Nedbank looks to investment banking for growth under new CEO

South Africa’s Nedbank Group is hoping to hire more investment bankers as it seeks to take advantage of a surge of deals in renewable energy, water and logistics in Africa’s most developed economy. With the bank’s home country in the throes of an electricity crisis and intensifying water shortages, outgoing CEO Mike Brown said the government is increasingly looking to ink public-private partnerships to adequately address those issues. As a result, Nedbank is hoping to hire more investment bankers and deploy more capital to the business in order to put together such deals, he said in follow up comments to an interview that took place on Monday.
/by

Global coal power grew 2% last year, the most since 2016, GEM survey says

The world’s coal-fired power capacity grew 2% last year, its highest annual increase since 2016, driven by new builds in China and decommissioning delays elsewhere, according to research published on Thursday. Despite record renewable additions, nearly 70 gigawatts (GW) of new coal power capacity were commissioned across the world last year, including 47.4 GW in China, the U.S.-based Global Energy Monitor think tank said in its annual survey. Coal-fired capacity outside China also grew for the first time since 2019, while worldwide only 21.1 GW was shut down, the survey said.
/by