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Commission refers competition complaint against Vita Gas to the tribunal

The Competition Commission has referred to the Competition Tribunal a complaint against Vita Gas for the alleged abuse of market dominance in the supply of liquified petroleum gas (LPG) from import terminals in the Western Cape.

The commission found that Vita Gas allegedly contravened the Competition Act and exploited its market dominance by entering into an exclusive agreement with the only LPG terminal in the Western Cape – the Saldanha Bay-based Sunrise Energy import and distribution facility.

November 2, 2022 by

Solar provider gets RMB Corvest’s backing as a strategic partner

Private equity firm RMB Corvest has invested in Sedgeley Solar Energy Namibia (Sedgeley Energy) as a strategic partner to enable Sedgley Solar to capitalise further on rooftop solar photovoltaic (PV) opportunities.
 
Independent investment banking firm Bravura, which was appointed by Sedgeley Energy, identified private equity fund RMB Corvest as a strongly-aligned investment partner. 
November 2, 2022 by

Developing country carbon emissions clemency not applicable to South Africa – Nicholls

South Africa cannot be allowed to breach its climate change mitigation measures and Paris Agreement declarations despite it being an emerging country that is dependant and still heavily reliant on fossil fuels, South African Presidential Climate Commission mitigation head Steve Nicholls told delegates at last week’s ESG Africa Conference.

Many African countries have, of late, requested lenience in meeting climate change mitigation commitments, requesting also a delay in their abandonment of cheap and easy-to-obtain fossil fuels as a result of their delayed and inhibited industrial and social development.

November 2, 2022 by

Approval given for the construction of Egypt’s second nuclear reactor

Approval, in principle, for the construction of the second nuclear reactor (‘unit 2’) of Egypt’s El Dabaa nuclear power plant (NPP), has been granted by the Egyptian Nuclear and Radiological Regulatory Authority (ENRRA), World Nuclear News reported on Tuesday. The decision was made on Monday, but the formal issuing of the licence would only take place on November 19, which is Nuclear Energy Day in the North African country. “This important event confirms Egypt’s insistence and its progress under the auspices of the country’s political leadership in achieving the long-awaited dream of producing clean electricity from nuclear plants, committed to the highest standards of nuclear safety and security in construction and operation,” stated the country’s Nuclear Power Plants Authority.
November 2, 2022 by

SAWEA welcomes Eskom’s updated Transmission Development Plan

Industry organisation the South Africa Wind Energy Association (SAWEA) has welcomed State-owned utility Eskom’s announcement, during the Transmission Development Plan (TDP) public forum on October 27, that about 53 GW of new additional generation capacity is expected to be added to the grid up to 2032. “This far exceeds the 30 GW proposed in the Integrated Resource Plan (IRP) 2019, which once again illustrates the importance of updating the IRP to reflect the new realities of the energy sector taking into account the deterioration of the energy availability factor (EAF) of Eskom’s existing coal-fired power plants,” SAWEA emphasises.
November 1, 2022 by

Vega unveils new Lanseria-based Africa headquarters

German instrumentation and control company Vega opened its new 6 000 m2 Africa head office and warehouse, in Lanseria, on October 31, to enhance service in the country, as well as expand services and products into Southern and Central Africa.

Having previously occupied a 1 000 m2 Africa head office and warehouse in Honeydew from 2012 until this year, MD Frikkie Streicher says the company, experiencing significant growth over the past five to six years, has a long-term vision for the new building, having been allocated land with plenty of extra space – 15 000 m2 in total – so that the company can expand, as and when the need arises.

November 1, 2022 by

Moody’s boosts Eskom’s ratings outlook to positive after budget

Moody’s Investors Service improved its outlook on Eskom Holdings’s debt ratings to positive after South African Finance Minister Enoch Godongwana announced last week the government could take over a substantial portion of the power company’s debt. Moody’s boosted the outlook from negative, signaling that the next ratings action may now be an upgrade instead of another downgrade. It affirmed the utility’s long-term corporate family rating at Caa1, seven levels below investment grade.
November 1, 2022 by