Leading renewable energy company Mainstream and its consortium Ikamva will be advancing six solar photovoltaic (PV) projects in South Africa – with a combined capacity of 450 MW. This has been secured in Round 5 of South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) towards financial close now that key implementation and 20-year power purchase agreements (PPAs) are in place.
The battery commodities market is experiencing a golden age of growth and development, spurred by rapid technological advances and the growing demand for batteries to support cleaner mobility and the roll-out of variable renewables generators. Global battery demand is forecast to grow by some 1 615 GWh, or 384.5%, over the next eight years, according to statistics aggregator Statista. This anticipated upsurge in demand for lithium-ion and other batteries is largely attributed to the rise of electric vehicles (EVs), which are expected to progressively replace internal combustion engine passenger cars.
The development of a green hydrogen economy will impact positively on South Africa’s labour landscape as the country continues to adapt to the Fourth Industrial Revolution (4IR) while, consequently, certain jobs will become redundant, says recruitment agency Oxyon People Solutions MD Viren Sookhun. Although job losses are a reality when repetitive tasks are automated through digital transformation, Sookhun forecasts that the jobs created through the growth and development of the local renewable-energy sector, including green hydrogen, will surpass 4IR job losses, cancelling out the impact on employment locally.
Derisking and understanding the technology, its requirements and cost benefits are critical factors that need to be considered when reviewing the financial feasibility of, and support for, the green hydrogen value chain, says South African National Energy Development Institute (Sanedi) renewables and cleaner fossil fuel manager Dr Karen Surridge. “Significant financial backing is required when entering any new sector, especially one as complex as the green hydrogen space, which will require substantial capital investment.”
Stage 6 loadshedding will remain in force until further notice, Eskom said late on Thursday. “The extension of loadshedding is caused by further breakdowns of generation units and continued shortage of generation capacity due to delays in returning to service some generation units,” the power utility said.
Nedbank Group has increased its green finance pipeline to more than R10-billion as more South African businesses invest in private power generation after the government lifted restrictions to help resolve the country’s energy crisis. “There are very strong pipelines currently in our business and across the country for private sector generation – that is a very large growth sector in an otherwise challenging growth environment,” Nedbank Chief Executive Officer Mike Brown said in an interview with Bloomberg TV in Johannesburg. “It is going to take probably two to three years before that connects to the grid and fixes the problem.”
President Cyril Ramaphosa unveiled a new investment target of R2-trillion for the five-year period to 2028 at the fifth edition of the South African Investment Conference on Thursday, where he also received new pledges from domestic and international investors that enabled him to confirm that the R1.2-trillion target set in 2018 had been exceeded. The event took place in a context of ongoing power cuts, which the President acknowledged were weakening confidence, tainting international perceptions about South Africa and undermining investment sentiment and decisions.
The biggest labour union at South Africa’s Eskom Holdings wants a 15% wage increase even as the utility fails to generate adequate electricity to meet the country’s needs, resulting in nationwide power cuts. The National Union of Mineworkers wants the same raise for all workers along with other increases in allowances for housing and other benefits, it said in a copy of the letter to Eskom seen by Bloomberg.
Global carbon dioxide (CO2) emissions linked to electricity generation may have peaked in 2022 and will begin to decline as wind and solar power take over from fossil fuels. The pace of the reduction of CO2 emissions’ stemming from the power sector is critical toward limiting global warming and preventing more damage from climate change. According to researchers at climate think-tank Ember, emissions will begin to drop slightly this year, and will get bigger every year as wind and solar grow further.
Morocco’s State-owned phosphates and fertiliser producer OCP said on Wednesday it signed an agreement with the International Finance Corporation (IFC), the World Bank’s investment arm, on a €100-million ($110-million) loan to build four solar plants to power its industrial operations. The loan is part of an OCP investment plan worth 130-billion dirhams ($12.8-billion) to increase fertiliser production using renewable energy by 2027.
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