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Actis hires Citi to sell African renewables firm

Buyout firm Actis appointed Citigroup to help with the sale of its BTE Renewables business in South Africa and is seeking a value close to $1-billion, according to people familiar with the matter. The parties are close to putting together a shortlist of potential buyers, said the people, who asked not to be identified as the plans are still private. While the deal is attracting some interest there’s no guarantee a transaction will go ahead, they said.
July 15, 2022 by

Business outlines 10-point plan for unlocking 15 GW of new electricity capacity

Business Unity South Africa (BUSA) has outlined a set of ten interventions that it believes could unlock much-needed investment into new generation and storage capacity over the coming two years and should be included as part of President Cyril Ramaphosa comprehensive plan for tackling load-shedding, which is expected to be unveiled soon. The BUSA intervention envisages the introduction of 15 GW of additional generation capacity, together with 4 GW of battery storage, over a 24-month period.
July 14, 2022 by

Business outlines 10-point plan for unlocking 15 GW of new electricity capacity

Business Unity South Africa (BUSA) has outlined a set of ten interventions that it believes could unlock much-needed investment into new generation and storage capacity over the coming two years and should be included as part of President Cyril Ramaphosa comprehensive plan for tackling load-shedding, which is expected to be unveiled soon. The BUSA intervention envisages the introduction of 15 GW of additional generation capacity, together with 4 GW of battery storage, over a 24-month period.
July 14, 2022 by

IRP 2019 implementation to continue while plan is reviewed, consulted and updated

Department of Mineral Resources and Energy (DMRE) director-general Jacob Mbele has confirmed that the Integrated Resource Plan of 2019 (IRP 2019) will continue to be implemented while it is reviewed, consulted, and updated – a process that is set to continue well into 2023. Speaking during a dialogue on the energy transition hosted by the Presidential Climate Commission, Mbele argued that the IRP 2019, which is widely accepted to include assumptions that are out of date, was “not irrelevant” and that its implementation would thus proceed.
July 14, 2022 by

Coalition demands Ramaphosa address energy crisis, replace Mantashe

The Climate Justice Coalition – a coalition of South African trade unions and grassroots, community-based and nonprofit organisations – will march to the office of the Presidency on Nelson Mandela Day (July 18) to hand over a petition demanding the energy crisis be dealt with.

The petition calls on President Cyril Ramaphosa to implement an emergency renewable energy plan to end load-shedding, to replace Mineral Resources and Energy Minister Gwede Mantashe and otherwise fix the Department of Mineral Resources and Energy (DMRE).

July 14, 2022 by

Copper shortages to hamper net-zero targets – report

A new study by analyst S&P Global has found that meeting the net zero emissions target by 2050 could be “short-circuited and remain out of reach” unless significant new copper supply comes online in a timely way.

The study projects global copper demand to nearly double over the next decade, from 25-million metric tons today to about 50-million metric tons by 2035 in order to deploy the technologies critical to achieving net-zero by 2050 goals.

July 14, 2022 by

Technical expert calls for power-, environment-saving lighting standards to be promulgated

Industrial technical standards and best practices expert and nonprofit organisation CLASP energy efficiency lighting expert Michael Scholand is calling on the Department of Trade, Industry and Competition (DTIC) to promulgate compulsory specification VC9109, which sets out energy efficiency standards for general service lamps (GSL) typically used in households and which would deliver significant electricity and emissions savings, as well as financial benefit to consumers. The compulsory specification was published in the Government Gazette in March 2021 for public comment, but has not been implemented.
July 14, 2022 by

Outages to wage deal may spur Eskom to borrow extra R45bn

South Africa’s indebted power utility may need to borrow an extra R45-billion to purchase diesel and pay inflation-beating salaries to workers, according to S&P Global Ratings. That’s a 50% increase from S&P’s borrowing forecast for Eskom Holdings in November, according to Omega Collocott, director of corporate ratings for South Africa at the company. The utility had a funding plan of R24.4-billion for the year to March, according to a company presentation in November.
July 13, 2022 by

Electricity veteran offers his A-to-Z guide for tackling load-shedding crisis

Ahead of President Cyril Ramaphosa’s much-anticipated announcement of a comprehensive plan for tackling load-shedding, electricity industry veteran Vally Padayachee has drafted an ‘A-to-Z’ guideline for addressing the crisis over the coming two years. Padayachee, who has 40 years of energy experience and is currently strategic adviser to the Association of Municipal Electricity Utilities, has drafted the proposed interventions in his personal capacity.
July 13, 2022 by

Mpumalanga considering green economy opportunities

The Mpumalanga province is considering steps to diversify its economy away from its reliance on coal mining and coal-fired power generation and to promote the green economy, particularly in relation to climate-resilient agriculture, Premier Refilwe Mtshweni-Tsipane said on July 13. During a trade and investment roundtable discussion with business owners from the US, she said the province was repositioning itself as a “strategic province to implement a successful transition” from coal-fired power to renewable energy.
July 13, 2022 by