Entries by

Nedbank CIB facilitates R10bn loan to realise Harmony’s renewable energy goal

Nedbank, acting through its corporate and investment banking (CIB) division, has coordinated and structured an innovative financing solution for Harmony Gold to enable the miner to refinance and upsize its key corporate debt facilities through a R10-billion package.

JSE-listed Harmony formally appointed Nedbank CIB to act as a global coordinator and bookrunner, as well as a global sustainability coordinator, to structure and arrange the substantial dual currency, multi-tranche debt package.

June 10, 2022 by

SAWEA appreciates President’s energy reform efforts

The South African Wind Energy Association (SAWEA) has applauded President Cyril Ramaphosa’s support for the energy sector’s transformation and welcomes the clarity he has provided on various reforms.

The association deems the reforms vital for the sector to become competitive, with multiple generators of power competing to supply electricity at the lowest cost and selling power directly to customers.

June 10, 2022 by

Solving Eskom’s inability to meet demand requires multistakeholder participation – EIUG

The Energy Intensive Users Group (EIUG) says that the task of mitigating risks related to the system performance and defining future electricity supply is too complex to be resolved by power utility Eskom alone, but instead requires active participation by other stakeholders as well.

EIUG CEO Fanele Mondi notes that the latest Eskom system status briefing (its winter plan) and poor performance during May, are evidence of increased levels of system strain, characterised by growing unplanned generation outages and a shortage of generation capacity to perform maintenance and meet demand.

June 10, 2022 by

Eskom invites tenders for PV system at Komati power station

State-owned Eskom has extended an invitation to interested parties to submit a tender for the provision of design, engineering, procurement, construction, construction management, start-up, commissioning, performance testing, operator and maintenance training of a solar agrivoltaics or photovoltaic system for the Komati power station. The tender deadline is 10:00 on July 7 and a non-compulsory clarification meeting will be conducted virtually on Microsoft Teams on June 15.
June 10, 2022 by

Committee welcomes appointment of Jacob Mbele as DMRE director-general

Portfolio Committee on Mineral Resources and Energy chairperson Sahlulele Luzipo has welcomed the appointment of Jacob Mbele as director-general of the Department of Mineral Resources and Energy (DMRE), saying he believes Mbele’s illustrious career at the DMRE qualifies him for the position. Mbele has served as the chief director for electricity in the former Department of Energy and later became deputy director-general for energy programmes and projects at the DMRE.
June 10, 2022 by

Eskom to transfer R39.9bn loan to transmission unit

Eskom Holdings said it will give the transmission unit that it’s transforming into a separate entity a R39.9-billion loan to make sure it can complete projects and be financially viable. The loan will be guaranteed by the transmission unit’s assets with Eskom’s creditors able to call on them if the utility doesn’t pay them, it said in a presentation to creditors on Thursday. Government guarantees will remain in place. The company will be known as the National Transmission Company of South Africa, or NTCSA.
June 10, 2022 by

Cost-effective electrical termination solutions for construction industry

Industrial products and adhesives manufacturer Pratley offers a range of cost-effective electrical solutions available to assist contractors in a recovering construction industry. “It is important that one does not compromise on quality in favour of cost, which is especially important when it comes to safety-critical electrical termination equipment such as cable glands and junction boxes,” comments Pratley marketing director Eldon Kruger.
June 10, 2022 by

Coating firm awarded corrosion prevention contract

Last month, anti-corrosion coatings manufacturer Corrocoat announced it has been awarded a contract to protect 300 new pipe spools of various dimensions by a multinational energy client. The company say its Corroglass 600 series was the coating system selected for this project, as it offered the best long-term corrosion protection on the floating production, storage and offloading units.
June 10, 2022 by

Workers must play central role in shaping just energy transition, unions insist

As South Africa continues on its journey towards realising a just energy transition (JET), workers and unions have expressed their support for the move and for alternative sources of energy to be part of the energy mix, provided that labour plays a significant role, that its views are taken on board and that a social-ownership model is pursued. Associated Mineworkers and Construction Union (AMCU) organisational development head Krister Janse van Rensburg emphasises that a transition to a low-carbon development path is crucial to addressing climate change and resolving “the deep crisis” the South African economy finds itself in.
June 10, 2022 by