Bank invests in oil, gas projects as part of mobilisation targets

Not only does financial services provider Standard Bank prioritise renewable energy as part of its sustainable finance mobilisation targets, it also supports a broader range of activities that contribute to the decarbonisation of Africa’s economies. As such the bank continues to finance new oil and gas projects, provided they are designed and implemented with robust environmental and social risk controls.
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Newly minted electricity department outlines grid and renewables targets to lawmakers

The newly separated Department of Electricity and Energy (DEE) has outlined its vision and mission to lawmakers, listing among its priorities for the coming five years the procurement of 20 GW of new renewables capacity and the addition of 5 044 km of new powerlines. The department previously operated under the umbrella of the Department of Mineral Resources and Energy, but from April 1 began operating separately from the Department of Mineral and Petroleum Resources, in line with President Cyril Ramaphosa’s 2024 proclamation to again separate the two departments.
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Rising role of South Africa’s private offtaker market underscored in latest Global Wind Report

The growing role of the private offtaker market in stimulating the South African wind sector has been highlighted in the latest ‘Global Wind Report’, which has been released by the Global Wind Energy Council (GWEC). In a section on South Africa, authored by the South African Wind Energy Association, the report notes that at least 15 private offtake projects totalling 1 943 MW have been announced following the market reforms of 2022 enabling renewables projects of any size to proceed without a licence.
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Access to renewable electricity now key investment driver, global poll of execs shows

A new survey of 1 477 business executives from 15 countries, including South Africa, indicates that corporates now overwhelmingly view the transition from fossil fuels to renewable electricity as key to their future competitiveness, as well as a driver of investment decision-making. Commissioned by E3G, Beyond Fossil Fuels and We Mean Business Coalition, and conducted by research and advisory company Savanta, the poll also highlights that countries risk losing investment and jobs should their government’s fail to outline policies that signal their intention to transition to renewables.
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Need for clean energy, advent of SMRs driving global nuclear energy growth

UK-based international data analytics and consultancy company GlobalData has forecast that nuclear energy generation, worldwide, will see a compound annual growth rate of 2% over the period 2024 to 2035. In numbers, this will see an increase from a global total of 2 616 TWh last year to 3 410 TWh in 2035. Global installed nuclear capacity will grow from 395 GW last year to 494 GW by 2035. A key factor in this growth will be the roll-out of small modular reactors (SMRs). “The growing focus on …
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Transmission expansion delays strain South Africa’s power grid

South Africa is about two decades behind in implementing its transmission expansion plans, leaving its energy grid under mounting pressure, owing to ageing infrastructure, transmission constraints and a growing demand for stable power supply across key industries, says power solutions supplier Aggreko Energy Services sales head Johan Helberg. This shortfall has severely limited the effective integration of independent power producers (IPPs) and alternative energy sources, which he says has further exacerbated grid instability.
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SAWEM to reshape South Africa’s electricity market

South Africa is set to undergo a significant transformation in its electricity market with the introduction of the South African Wholesale Electricity Market (SAWEM), which aims to establish a transparent, non-discriminatory, multi-market trading platform that is expected to enhance energy security, attract private investment and improve efficiency in electricity trading. According to law firm Bowmans partner Alexandra Felekis, the foundation for SAWEM was laid with the issuance of the Draft Market Code by the National Transmission Company South Africa in April 2024.
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BESS key to stabilising grid

Industrial clean energy projects specialist Energy Group is focusing on the development of battery energy storage system (BESS) solutions to address grid instability and arbitrage opportunities in South Africa. With increasing pressure on the national grid, owing to frequent loadshedding and the growing integration of renewable energy, BESS is seen as a crucial component in stabilising the grid, says Energy Group senior manager Jason Fairhurst.
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Transmission roll-out drives local solutions demand

State-owned power utility Eskom’s ambitious plan to expand South Africa’s transmission network, which includes the roll-out of 14 000 km of new power lines over the next decade, is expected to create significant opportunities for local suppliers, such as JSE-listed Reunert, to support the project. With a strong track record, technical expertise and black economic empowerment credentials, the company played a key role in Eskom’s last major transmission roll-out in the 2000s and expects to be a key supplier again.
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IPP shares project development insights after 15 yrs in sector

South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) and the growth of its commercial and industrial renewable energy space is a good blueprint for the development of projects in the rest of Africa. “There are phenomenal opportunities for growth in the African market. There are many areas in sub-Saharan Africa that lack access to electricity and present a substantial opportunity for renewable energy to fill that void,” says independent power producer (IPP) Pele Green Energy (PGE) senior project developer Anesu Gwata.   
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