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South Africa set for massive changes as energy market pivots, renewable energy grows

South Africa will need about 150 GW of renewable energy generation and associated transmission infrastructure by 2050, meaning it needs to build about 6 GW of renewable energy capacity each year. It currently has about 6.4 GW of renewable energy generation in operation, about 3 GW of embedded private renewable generation and about 9 GW of registered renewable energy projects, of which about 4 GW to 6 GW is under construction, speakers highlighted during a ‘South Africa’s Renewable Energy Investment Report Card’ webinar, hosted by Creamer Media, on September 11.
September 12, 2024 by

EIB, DBSA increase funding for private renewables projects to R11.9bn

The European Investment Bank (EIB) has approved another €100-million (R1.98-billion) loan in support of the Development Bank of Southern Africa’s (DBSA’s) Embedded Generation Investment Programme, which is supporting the development of private solar PV and wind projects in South Africa. The funding will be matched by the DBSA and is additional to the first €400-million (R7.9-billion) matching loan approved by both development finance institutions in 2022, increasing overall funding for the upscaling of small and medium-sized renewable-energy projects to €600-million (R11.9-billion).
September 11, 2024 by

Zimbabwe’s biggest miners seek $182m for solar projects

Some of Zimbabwe’s biggest miners are seeking $182-million to develop 200 MW of locally-generated solar power, according to the head of the renewables company responsible for the projects. The agreement was signed between Grid Africa and the Intensive Energy User Group, whose members include Impala Platinum’s Zimbabwean unit, Tsingshan Holdings Group’s Afrochine Smelting and RioZim, among others.
September 11, 2024 by

R628m in EU grants to support South Africa’s goal of building green-hydrogen ecosystem

The European Union (EU) has announced R628-million (€32-million) in grant funding to support the development of South Africa’s nascent green-hydrogen industry, as well as to facilitate net-zero-related investments across Transnet’s rail, port and pipeline operations, including to prepare them for the production and storage of green hydrogen. The grants are additional to the EU’s Just Energy Transition Partnership funding with South Africa and were confirmed by European Commissioner for Energy Kadri Simson at a briefing in Pretoria on Monday, where she also met South Africa’s Electricity and Energy Minister Dr Kgosientsho Ramokgopa and Trade, Industry and Competition Minister Parks Tau.
September 9, 2024 by

Windaba 2024 conference to be attended, as official patron, by Energy Minister Ramokgopa

The South African Wind Energy Association (SAWEA) has announced that the official patron for the 2024 iteration of its flagship conference, Windaba, will be Energy and Electricity Minister Dr Kgosientsho Ramokgopa. This will be the second year in a row that he will attend Windaba. Windaba 2024, which also has the support of the Global Wind Energy Council, will run from October 1 to October 3. It will take place at the Cape Town International Convention Centre, and will bring together wind energy professionals, academics, civil society representatives, government representatives (and particularly, policymakers).
September 9, 2024 by

Engie sees African renewables industry as ripe for consolidation

Engie, the French utility that led a $1-billion buyout of a rival’s renewable energy assets in Africa last year, expects more deals to be seen in the industry across the continent. While focusing on integrating the assets it bought from Actis rather than seeking more acquisitions, Engie is looking to develop a pipeline of seven gigawatts of projects, said Mohamed Hoosen, the company’s managing director for Asia, Middle East and Africa. It may also invest in transmission projects in South Africa, once those are opened up for private participation, he said.
September 9, 2024 by

Germany ready to help fund R390bn South African grid revamp

Germany is willing to help fund the R390-billion ($22-billion) that South Africa said it needs to incorporate more solar and wind power into the national grid and ensure its energy security. The European nation will be able to provide some funding once the scope for the grid-expansion project has been determined, according to its special envoy for a climate-finance pact between South Africa and some of the world’s richest countries. The deal, which was agreed in 2021 and is now worth $9.3-billion, has been criticized for its slow implementation.
September 6, 2024 by

Investment company on track to meet net-zero energy goals

As part of its ambition to achieve Landlord Scope 1 and 2 Net-Zero Carbon by 2030 as well as implement sustainable practices, property investment company Liberty Two Degrees (L2D) has successfully implemented portfolio-wide energy management improvements, says sustainability lead specialist Brian Unsted. With this in mind, the company boasts total installed solar capacity of 13 MW across its portfolio, compared to 3 MW in 2022. The company also met its 2023 target of sourcing 3% of its portfolio’s energy baseload from renewable-energy sources, achieved through implementing onsite solar energy production.
September 6, 2024 by

Competitive energy sector drives innovation

The competitive landscape for utility-scale renewable energy has significantly changed over the past decade, with developers driving more aggressive funding terms to remain competitive, says financial institution Standard Bank power head Rentia van Tonder. The shift in the competitive landscape has resulted in more investors and developers competing for projects. Therefore, financing solutions need to be innovative, consequently forcing financiers to consider different risk allocations as the market matures and be more adaptable to change, she explains.
September 6, 2024 by

Emerging solar tech crucial in energy mix

Solar power integration, through PV, concentrated solar power (CSP) technology in specific applications, and hybrid solutions including battery energy storage systems (BESS), is crucial in South Africa’s energy mix as global energy demands continue to rise, says independent power producer (IPP) ENGIE South Africa engineering head Seshni Naidoo. She emphasises that solar energy is crucial in ensuring a sustainable, secure and affordable energy supply for South Africa while complementing other renewable and conventional energy sources.
September 6, 2024 by