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$25m investment expands horizon for clean-energy firm

Independent private equity fund manager Metier has announced a $25-million investment into clean-energy company Broadreach Energy, which specialises in deploying renewable-energy and energy efficiency projects in the commercial and industrial (C&I) sectors of various African countries. The investment has been made through Metier’s second Sustainable Capital Fund, or MSC II,  which has received $133-million in commitments to support renewable-energy, energy efficiency, water and waste-management investments in sub-Saharan Africa.
September 3, 2020 by

FNB cuts the carbon footprint of its branches by 50% over five years

After the adoption of carbon-cutting measures to drive energy efficiency across a network of more than 600 branches in South Africa, financial services provider First National Bank (FNB) FNB has reduced the carbon dioxide (CO2) footprint in its branches by nearly 50% over a period of five years.

FNB’s energy efficiency measures include, but are not limited to, fitting light-emitting diode (LED) lighting in new branches and retrofitting existing branches with LED lighting to enable a substantial reduction in electricity consumption.

September 1, 2020 by

IFC confirms $225m green-economy loan to FirstRand

The World Bank’s International Finance Corporation (IFC) has extended a $225-million loan to South Africa’s FirstRand Bank, which will deploy the finance in support of “energy-efficient and water-smart projects” in South Africa. The loan includes a $75-million contribution from the Dutch entrepreneurial development bank FMO, which funds sustainable private sector growth in developing countries and emerging markets.
September 1, 2020 by

Zambezi River Authority gears up for community consultations on proposed 2 400 MW Batoka Gorge …

The Zambezi River Authority (ZRA) is preparing to conduct disclosure meetings with communities in Zambia and Zimbabwe whose land or livelihoods could be affected by the construction of the proposed 2 400 MW Batoka Gorge Hydro Electric Scheme (BGHES), a transboundary project located 47-km downstream of the Victoria Falls. Jointly owned by the governments of Zambia and Zimbabwe, the ZRA operates and maintains the Kariba Dam Complex and is responsible for investigating and developing new dam sites on the Zambezi River.
September 1, 2020 by

SA’s Eskom resumes rolling blackouts after generation units break down once more

South African utility Eskom said on Tuesday it would be forced to resume rotational power cuts from midday to 10 pm due to breakdowns in its generating units which slashed power supply. “Eskom regrets to inform the public that due to a severely constrained generation system as a result of multiple unit breakdowns, it has become necessary to implement stage 2 load-shedding,” the State-owned company said, warning this was likely to persist for the rest of the week.
September 1, 2020 by

Eskom resumes rolling blackouts after generation units break down once more

South African utility Eskom said on Tuesday it would be forced to resume rotational power cuts from midday to 22:00 due to breakdowns in its generating units which slashed power supply. “Eskom regrets to inform the public that due to a severely constrained generation system as a result of multiple unit breakdowns, it has become necessary to implement stage 2 load shedding,” the state-owned company said, warning this was likely to persist for the rest of the week.
September 1, 2020 by

Mitsubishi Hitachi Power Systems undergoes rebrand

Mitsubishi Hitachi Power Systems, a major subsidiary of Mitsubishi Heavy Industries Group (MHI Group), has officially changed its corporate name to Mitsubishi Power.

The company says the rebrand marks the start of a new chapter in its mission to grow as an energy solutions provider and help solve the foremost energy challenges of our time, which includes decarbonising energy and bringing reliable power to people all over the world.

September 1, 2020 by