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Innovative interventions needed to turn around underperforming growth trajectory – Agbiz

Against the backdrop of a profoundly challenging macroeconomic environment where South Africa’s economy is expected to continue underperforming, averaging at 1.6% growth in the next three years, innovative interventions are needed to turn the current trajectory around, said the Agricultural Business Chamber of South Africa (Agbiz) chairperson Francois Strydom. “Increased spending on grants and other social security measures may be needed in the short term, but a shrinking tax base cannot sustain this trend in the long run. As [Finance Minister Enoch Godongwana] noted, we need to grow the pie.”
February 22, 2024 by

Cape Town driving forward with renewable energy, climate resilience programmes

Last year, Cape Town paid out R25-million to businesses which sold their surplus renewable energy to the city. And, starting this year, private citizens would be able to do the same. These developments were highlighted by Cape Town Executive Mayor Geordin Hill-Lewis in an address to the Africa Green Economy Summit 2024, being held in Cape Town. He described this development as “the democratisation of energy” and affirmed that it “excited” him. The city had also, over the past year, completed three rounds of utility-scale renewable energy procurement bids, with a total capacity of 600 MW. The companies concerned could now start construction of their projects. A fourth bid round was still open (it would close in mid-April).
February 22, 2024 by

Fiscal discipline in Budget, but 5% infrastructure expenditure increase ‘barely positive’ …

Finance Minister Enoch Godongwana maintained focus on fiscal discipline and balancing the need to address socioeconomic challenges facing the country, industry organisation Minerals Council South Africa said in response to the Minister’s Budget Speech on February 21. South Africa, however, needs faster growth of private and public sector fixed investment, and rapid implementation of deep structural reforms to allow the private sector to participate in key areas of the economy, it stressed.
February 22, 2024 by

RFP for private transmission investment to be launched in July

The South African government will release a request for proposals (RFP) in the coming months seeking private sector investment into a pilot electricity grid infrastructure project. The National Treasury confirms that government has been working in partnership with the International Finance Corporation on the short-term options for “off-balance-sheet financing to accelerate private-sector investment in transmission, without negatively affecting Eskom’s balance sheet and the fiscus”.
February 21, 2024 by

Teraco to build 120 MW solar plant after securing grid capacity allocation

Data centre infrastructure and services company Teraco will start construction of a 120 MW utility-scale solar photovoltaic (PV) facility in the Free State after securing its first grid capacity allocation from State-owned Eskom. The grid capacity allocation enables it to connect the planned 120 MW solar facility to the national electrical grid. The power generated will be wheeled across Eskom and municipal power networks to Teraco’s facilities across South Africa.
February 21, 2024 by

Milken-Motsepe finalists in South Africa to showcase their off-grid, green energy designs

Bold, scaleable and collaborative – these are the three characteristics of the project that will clinch the $1-million Milken–Motsepe Prize in Green Energy, says Milken Institute senior director Dr Emily Musil Church. The Milken Institute is a nonprofit, nonpartisan think tank bringing together “the best ideas and innovative resourcing to develop blueprints for tackling some of our most critical global issues”.
February 20, 2024 by

100 MW of OCGT power to be available in Gauteng by April – Lesufi

Johannesburg power utility City Power would, on behalf of the Gauteng government, add 100 MW of electricity capacity to the grid to assist the Gauteng province in its goal to reduce the impact of loadshedding on residents. The 100 MW would be generated using open-cycle gas turbine technology and this would later be expanded to 300 MW, Gauteng Premier Panyaza Lesufi said in his State of the Province Address on February 19.
February 20, 2024 by

HotBot geyser devices deliver energy savings, lower power surges to grid

Since launching its HotBot devices for smart geyser management in 2020, energy solutions developer Plentify has recorded considerable energy savings across its user base, as well as lower demand surges to the grid following loadshedding. Fifteen years since State-owned power utility Eskom started implementing loadshedding, the scheduled power cuts are still wreaking havoc on the economy, including through impacts on power infrastructure and household finances. However, tools such as HotBots help to address some of these issues, says Plentify.
February 20, 2024 by

Climate Change Response Fund to channel resources to adaptation, early-warning systems – Creecy

Forestry, Fisheries and the Environment Minister Barbara Creecy reports that the Climate Change Response Fund announced by President Cyril Ramaphosa in his State of the Nation Address (SoNA) has been established to support the development of early-warning systems, as well as for adaptation projects to improve the climate resiliency of infrastructure amid the growing threats posed by extreme weather events. Addressing the Presidential Climate Commission (PCC) in Johannesburg, Creecy said that there was also potential to use the fund as a “channel” for financial resources that could be made available to developing countries following the recent operationalisation of a loss and damage fund.
February 16, 2024 by