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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

Pipeline progress enhances Southern Africa’s energy market, capacity

Gas is a key enabler for economic growth and social development in the Southern Africa region, and a cleaner alternative to fossil fuels, says joint venture (JV) Republic of Mozambique Pipeline Investments Company (Rompco) CEO Mlandzeni Boyce, who underscores the importance of gas as a “transitional bridge between coal and renewable-energy sources”. Established as a JV between the governments of South Africa – represented by the South African Gas Development Company (iGas) – and Mozambique, represented by Companhia Moçambicana de Gasoduto (CMG), along with integrated energy and chemical company Sasol, Rompco plays a strategic role in connecting Mozambique’s rich gasfields with South Africa’s energy market.
February 16, 2024 by

Event aims to catalyse change, progress in next decade

With a focus on long-term sustainable development and innovation, African energy sector-focused event Africa Energy Indaba (AEI) aims to catalyse change and progress over the next decade. The 2024 iteration of this event will be a “prime example” of this ongoing event’s relevance to the industry, says event organiser Siyenza Management MD Liz Hart, who says the event “reflects a comprehensive strategy designed to address both immediate and future energy challenges while aligning with broader goals of environmental conservation and economic empowerment”.
February 16, 2024 by

Solutions provider offers financing model for solar

Solar solutions provider Candi Solar is offering a financing model to companies who cannot afford the commonly significant upfront expenditure for solar energy installations. The initiative addresses a pressing need in the South African market, where conventional financial instruments fail to effectively address more than 90% of companies, says co-founder and FD Fabio Eucalipto. He adds that it is “a gap that Candi Solar is eager to bridge”.
February 16, 2024 by

Solar not to blame for recent Stage 6 loadshedding – SAPVIA

Industry organisation the South African Photovoltaic Industry Association (SAPVIA) has moved to factually dispute Electricity Minister Dr Kgosientsho Ramokgopa’s recent statement that “nonperforming renewables” were the cause of Stage 6 loadshedding having been implemented late last week. SAPVIA CEO Dr Rethabile Melamu said the Minister’s comments at the weekend misrepresented the role that renewable energy, and in particular solar PV, had to play in the nation’s energy mix.
February 15, 2024 by

Former IPP Office head now sees definite role for private sector in grid development

The former head of South Africa’s Independent Power Producer (IPP) Office, Karen Breytenbach, believes there is a compelling case for the injection of private sector investment to accelerate the roll-out of new electricity grid infrastructure, as has been proposed by Electricity Minister Kgosientsho Ramokgopa. She cautions, however, that significant consultation is still required to ensure that any institutional and regulatory frameworks developed to support such investment is sensitive to the risk posed by the natural-monopoly character of such infrastructure, as well as the commercial realities of funders and potential investors.  
February 15, 2024 by

TotalEnergies CEO says IMF debt rules hobbling African green energy projects

Renewable energy investments in Africa are being hobbled by insufficient government loan guarantees, as the International Monetary Fund keeps a tight leash on country indebtedness, TotalEnergies CEO Patrick Pouyanne said Wednesday. Pouyanne said currently electricity projects in Africa suffer from “a problem of solvency… you have a risk not to be paid”. “So when a renewable developer wants to develop, and it’s obvious you have huge potential, he will go and see the government and ask for guarantees,” he said.
February 15, 2024 by

Innovative 128 MW solar-wind-battery project achieves financial close

The 128 MW Oya Energy hybrid project, which will combine variable renewables and batteries to produce dispatchable electricity daily between 5:00 and 21:30 for injection into South Africa’s loadshedding-prone grid, reached financial close on Tuesday, February 13. The project was named as a preferred bidder for a 20-year power purchase agreement (PPA) under South Africa’s Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP), which was launched as a so-called emergency procurement round in 2020 for some 2 000 MW.
February 14, 2024 by