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Macquarie-backed African renewables investor seeks fresh funds

Revego Fund Managers, which runs Africa’s first fund focused on primarily investing in operating renewable-energy assets, is seeking new investors as it works toward an eventual listing. The fund manager wants to raise about R3-billion to invest in projects to add to the R2-billion Revego Africa Energy Fund, a so-called yieldco focused on dividend flows, chief investment officer Ziyaad Sarang said. It will consider listing when it has about $500-million of assets under management and currently has a pipeline of about R10-billion in potential investments, he said.
July 10, 2024 by

Eskom employee, service provider face fraud charges in court

An employee of State-owned Eskom and a service provider to the utility last week appeared in the Hendrina Magistrate Court, in Mpumalanga, on charges of fraud, with each granted bail of R30 000. It is alleged that, between January and April last year, the service provider supplied five valve stems – stolen from the Hendrina power station’s warehouse with the assistance of the Eskom employee – to the power station.
July 9, 2024 by

Eskom implements load reduction in seven provinces, but loadshedding remains suspended

With continued cold winter weather, increasing electricity theft and the indiscriminate use of electricity, the issue of network overloading has resurfaced in seven of South Africa’s provinces, State-owned power utility Eskom advises.

The utility will, therefore, implement load reduction in Limpopo, the Western Cape, the Eastern Cape, Gauteng, Mpumalanga, North West and KwaZulu-Natal.

July 9, 2024 by

Ramokgopa warns of distribution challenges, plans more renewables rounds

Despite Eskom having made progress on improving the country’s energy availability factor (EAF), lowering the unplanned capacity loss factor (UCLF) and achieving 100 consecutive days without loadshedding on July 5, the country is facing a new kind of energy crisis, Electricity and Energy Minister Dr Kgosientsho Ramokgopa has said.

In his first briefing for the now standalone ministry on July 8, the Minister warned that municipalities were investing too little on infrastructure maintenance and modernisation, with some having mismanagement issues, resulting in costly issues on the distribution side.

July 8, 2024 by

Separation of energy portfolio welcomed

Engineering News editor Terence Creamer discusses President Cyril Ramaphosa’s decision to separate the energy portfolio from that of mineral and petroleum resources; what the priorities are for the new leadership of the energy portfolio; and the potential risks facing the new Ministry.  
July 5, 2024 by

ProMarks, Trafigura sign MoU with Angola govt to develop PPP model for power transmission

Electrical engineering company ProMarks and industrial conglomerate Trafigura have signed a memorandum of understanding (MoU) with the government of Angola to conduct a technical and economic viability study and develop a public-private partnership model for a major regional power transmission and supply project. The proposed project will entail building and operating a 2 000 MW high-voltage electricity interconnector, which is a high-voltage direct current transmission line, to take surplus green electricity produced by hydroelectric dams located in the north of Angola to the Democratic Republic of Congo Copperbelt and Zambia, integrating with the Southern Africa Power Pool.
July 5, 2024 by

Coega secures approval for first-ever public sector limited recourse capital transaction

In support of special economic zone (SEZ) operator Coega Development Corporation’s ambitious renewable energy programme, the National Treasury has approved a limited recourse capital transaction – a first for the public sector.

The transaction will finance the Coega solar rooftop programme, which forms part of a larger renewable energy pipeline for the organisation.

July 4, 2024 by

Energy Regulator rescinds decision on new tariff-setting rules as Eskom prepares to apply for …

The Energy Regulator has rescinded its approval, made in December, of the so-called Electricity Price Determination Methodology Rules (EPDMR), which were proposed for implementation in the 2025/26 financial year as a replacement to the prevailing multiyear price determination methodology (MYPDM) for setting tariffs. The decision was made by the National Energy Regulator of South Africa’s (Nersa’s) highest decision-making structure during a meeting on June 27 and confirmed in a statement issued on July 2.
July 3, 2024 by

Half of turbines for Koruson 1 wind farms delivered to site

About half of the 237 turbine blades and other components required for the Koruson 1 cluster of wind farms, being built on the border of the Eastern and Northern Cape provinces, have been delivered to site. The Koruson 1 cluster comprises the Phezukomoya, San Kraal and Coleskop wind farms and is being developed as part of Round 5 of the Renewable Energy Independent Power Producer Programme.
July 3, 2024 by