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FNB to roll out solar power systems to 100 branches

Financial services provider FNB will install solar power systems at 100 of its branches across the country to prevent downtime during times of loadshedding, while also mitigating the environmental impact of its operations. The initiative will start with branches in Mthatha, in the Eastern Cape; Bethlehem and Phuthaditjhaba, in the Free State; and Zeerust, in the North West. It is part of the bank’s commitment to environmental sustainability and operational resilience.
August 7, 2023 by

DMRE aims to unveil battery storage preferred projects in two months after receiving 17 bids

A total of 17 bids have been received in response to the Department of Mineral Resources and Energy’s (DMRE’s) inaugural public procurement for battery energy storage system (BESS) projects. The BESS request for proposals was launched on March 7 with an initial bid submission deadline of July 5, which was subsequently postponed to August 2 as a result of delays to the issuance of cost estimate letters for grid connections.
August 4, 2023 by

Standard Bank seeks to access green finance for household renewable power systems

Financial services firm Standard Bank is investigating the use of edge certification frameworks for renewable energy systems in households to enable it to access international green funding that it can then lend on to households to accelerate the rate of installation of renewable energy systems. Accessing sustainability, or green, finances requires certification and there is low penetration of edge certifications in homes older than five years, which makes it difficult for the bank to provide the required assurances to access green finances for household projects, says Standard Bank homeowners’ advice and services platform LookSee executive head Marc du Plessis.
August 4, 2023 by

Firm invests in ‘greener’ solutions for sustainable future

JSE-registered real estate investment trust (REIT) Liberty Two Degrees (L2D) is beefing up its electricity generation supply to meet its environment, social and governance (ESG) targets. L2D development executive Melinda Isaacs says the company – which specialises in rental property in the retail, hotel and office space, with a portfolio valued at over R10-billion – is focusing on sustainability projects that have a good return on investment and will reduce operational expenditure.
August 4, 2023 by

Market hindered by interest rates, economic stagnation

The commercial property market experienced a 5.6% decline in sales activity in the first quarter of 2023, compared with the same quarter in 2022, owing to numerous factors, including rising interest rates and the oversupply of office space, says property valuations custodian South African Institute of Valuers (SAIV) president Dianne de Wet. “I don’t think we’ve seen the full impact of the interest rate increases as this takes time to filter through and I believe that we may see another interest rate increase soon, even if it’s just a 25-basis point increase. There’s also the risk of the decline in vacancy rates being arrested,” notes De Wet.
August 4, 2023 by

Vodacom Century City fire highlights fire safety for PV systems

The fire at the Vodacom building at Century City in Cape Town last month is suspected of having been caused by an issue with the rooftop solar photovoltaic (PV) installation, notes ASP Fire CEO Michael van Niekerk, observing that such systems for homes and businesses are increasingly popular as a means of mitigating the impact of ongoing loadshedding. However, he stresses that, for insurance purposes, these systems need to be installed by an accredited installer or electrician. The onus is on home and business owners to ensure that the installation is correct, especially in terms of accompanying generator sets.
August 4, 2023 by

South Africa must build renewables skills pool to catch up with renewable power demands – Nordex

South Africa currently has a shortfall of trained and experienced wind energy technicians, after having lost much of its skilled capacity to advanced international markets and, like its international counterparts, it needs a growing pool of qualified candidates to draw from as demand for new power generation grows. The shortfall is a direct result of the interrupted procurement that has plagued the sector since 2014, says onshore wind turbines manufacturer Nordex Energy South Africa people and culture head Zelrese Brair.
August 3, 2023 by

Alternative funding models for South Africa’s R235bn grid investment outlined in new report

To unlock the estimated R235-billion in investment required to strengthen and expand the grid in a way that positions it to connect the 53 GW of new generation capacity that will be required by the early 2030s, a new consultation paper has been published making the case for South Africa to consider alternative funding models, including off-balance sheet financing. Titled ‘Better Finance, Better Grid’, the paper’s lead authors are Professor Mark Swilling and Erica Johnson, of the Centre for Sustainability Transitions (CST) at Stellenbosch University, and it has been published jointly by CST, the Centre for Renewable and Sustainable Energy Studies and the Blended Finance Taskforce, with support from the Open Society Foundations.
August 3, 2023 by