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Absa to offer its SME clients grants to help them fund solar energy installations

South African banking and investment services group Absa has announced that it is making R50-million available to provide solar energy grants to small and medium enterprises (SMEs) that are its clients. More specifically, the grants will be offered to SMEs whose commercial properties are financed by the bank. “SMEs make a significant contribution to job creation and economic growth in South Africa,” pointed out Absa Relationship Banking SME Business managing executive Ronnie Mbatsane. “However, in many instances, the operating environment over the past few years has made it very difficult for these vital enablers to grow and thrive.”
April 3, 2023 by

Absa to offer its SME clients grants to help them fund solar energy installations

South African banking and investment services group Absa has announced that it is making R50-million available to provide solar energy grants to small and medium enterprises (SMEs) that are its clients. More specifically, the grants will be offered to SMEs whose commercial properties are financed by the bank. “SMEs make a significant contribution to job creation and economic growth in South Africa,” pointed out Absa Relationship Banking SME Business managing executive Ronnie Mbatsane. “However, in many instances, the operating environment over the past few years has made it very difficult for these vital enablers to grow and thrive.”
April 3, 2023 by

Eskom hands hydropower plants back to Uganda as concession ends

Following the end of the Eskom Uganda Limited (EUL) concession on March 31, Eskom has assured that a smooth transfer of assets and interests to State-owned Uganda Electricity Generation Company has taken place.

The EUL came to its natural end after being established in 2002, involving the operation and maintenance of the Kiira and Nalubaale hydroelectric power stations for 20 years.

April 3, 2023 by

Eskom hands hydropower plants back to Uganda as concession ends

Following the end of the Eskom Uganda Limited (EUL) concession on March 31, Eskom has assured that a smooth transfer of assets and interests to State-owned Uganda Electricity Generation Company has taken place.

The EUL came to its natural end after being established in 2002, involving the operation and maintenance of the Kiira and Nalubaale hydroelectric power stations for 20 years.

April 3, 2023 by

Cape Town issues largest energy tender to date at 500 MW

In continuing its pursuit of becoming largely independent from the national grid, the City of Cape Town has announced it is issuing its largest energy tender to date at 500 MW.

Mayor Geordin Hill-Lewis is confident the city will be the first metro to break free from Eskom’s hold, while ensuring meaningful economic growth and investment in the city.

April 3, 2023 by

Egyptian nuclear regulator OKs construction of the country’s third nuclear reactor

The Egyptian Nuclear and Radiological Regulatory Authority (ENRRA) has issued the construction licence for the third reactor (Unit 3) of the country’s four-reactor nuclear power plant (NPP) at El Dabaa, “World Nuclear News” has reported. El Dabaa will be the country’s first NPP and is located on the Mediterranean coast, some 320 km north west of Cairo. (Egypt currently operates one 22 MWt capacity research reactor.) El Dabaa is being developed and will be operated by the country’s Nuclear Power Plant Authority (NPPA). Its reactors will be to the Russian State-owned nuclear energy group Rosatom’s VVER-1200 design, already in use at Russia’s Leningrad and Novovoronezh NPPs and at Belarus’ Ostrovets NPP.
April 3, 2023 by

Talks under way on next funding flows from Germany to South Africa under JETP

Discussions are under way between the German and South African governments regarding the disbursement of the next tranche of the European country’s concessional funding under the $8.5-billion Just Energy Transition Partnership (JETP), initially unveiled in 2021. Germany has committed to provide $1.4-billion under the JETP, which is also being supported by the other International Partnership Group participants of France, the UK, the US and the European Union.
April 3, 2023 by

Meeting global EV targets will be ‘extremely challenging’ owing to raw material shortages

Chemicals company BASF global precious metal services senior VP Timothy Ingle told delegates attending the Platinum Group Metals Day, in Johannesburg, earlier this week, that it would be extremely challenging from a raw material perspective to meet the expected global uptake of ten-million electric vehicles (EVs) this year and the goal of reaching 40-million EVs on the road by 2030. Ingle pointed to challenges faced globally with securing base metal supply and, in particular, lithium and class one nickel.
March 31, 2023 by

South Africa pushes to delay coal plant closures

South Africa has told rich countries backing its $8.5-billion energy transition deal that it wants to delay the closure of some units at its coal-fired power plants, people familiar with the situation said. Years of mismanagement and corruption have decimated South Africa’s coal-dependent power sector but connecting the renewable energy units envisaged under its Just Energy Transition Partnership will take longer than expected.
March 31, 2023 by

Absa Green Deposit investment product for corporates to invest in green assets

Financial services firm Absa has secured the opening investment in its Absa Green Deposit, which is an investment product that will link funds raised to a ring-fenced portfolio of eligible green assets and provide corporate companies in South Africa with an attractive yield. This initial tranche of funding will be used to finance or re-finance an equivalent amount of renewable energy projects. The initial investment was made by Italian utility local renewable energy subsidiary Enel Green Power South Africa.
March 31, 2023 by