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EU must step up action in clean tech race, say industry groups

Europe’s green technology industries and materials suppliers urged European Union leaders meeting for a summit on Thursday to do more to prevent the bloc dropping out of the global clean tech race against competitors China and the US. The European Union is expected to pass legislation setting targets for EU-based companies to make at least 40% of the EU’s annual deployment needs of solar, wind and other net-zero technologies by 2030.
October 26, 2023 by

Distribution crisis requires attention on same ‘scale and intensity’ as generation shortfall

Electricity Minister Kgosientsho Ramokgopa has described South Africa’s highly fragmented electricity distribution industry as a threat to energy security that warrants attention “on the scale and intensity” that has been given to the country’s generation shortfall in the recent past. Delivering and update on the implementation of the Energy Action Plan in Parliament, Ramokgopa said that a significant number of municipalities were in a state of paralysis and unable to perform their mandated duties, including in the area of electricity distribution.
October 24, 2023 by

Top bond investor slams South Africa bid to fix State firms

Futuregrowth Asset Management, a South African money manager overseeing more than R190-billion of fixed-income assets, says the government’s draft legislation meant to address inefficiencies at state entities is “ineffective, overdue, vague, and contradictory”. The National State Enterprises Bill aims to establish the State Asset Management, a holding company to consolidate the state’s shareholdings. But the draft law does little to address critical failures at the country’s government-owned companies, according to Olga Constantanos, head of credit at Cape Town-based Futuregrowth.
October 24, 2023 by

Ramaphosa says battle against coal syndicates gaining traction

President Cyril Ramaphosa has hailed the efforts by law enforcement agencies and the South African Revenue Service (Sars) to bust coal smuggling syndicates operating in the country. Planned search and seizure operations targeting coal smuggling syndicates have gained traction across five provinces with the documents of individuals alleged to have committed procurement fraud, tax crimes and coal diversion being confiscated.
October 24, 2023 by

‘Height of folly’ to develop overreliance on aged coal plants for future supply

Electricity Minister Kgosientsho Ramokgopa says attention should shift to adding new and cleaner generation to the loadshedding-prone electricity system, acknowledging that it would be the “height of folly” to rely on significantly extending the life of the breakdown-prone coal stations. While much of his latest briefing on the implementation of the Energy Action Plan was dedicated to improvements in the operating performance of some of Eskom’s coal units, Ramokgopa said there could be no “overreliance” on the units in future. This, given their advanced age and the fact that many trade-focused domestic industries had to decarbonised to remain internationally competitive.
October 23, 2023 by