Intergovernmental organisation the International Energy Agency (IEA) and several partners have launched a new tool, the Cost of Capital Observatory, to track financing costs for energy projects around the world, with the aim of identifying and addressing risks that have impeded vital investment flows to emerging and developing economies. The Cost of Capital Observatory will be hosted on the IEA’s website and regularly updated with new data, analysis and features. The IEA website will also host an interactive Cost of Capital Ddshboard to enable users to dig into data for selected countries.
Load shedding will be reduced to Stage 4 at 05:00 on Saturday morning, Eskom announced on Friday. A further reduction to Stage 3 will be implemented from 05:00 on Sunday until 05:00 on Monday. “The capacity constraints will persist throughout next week, and current indications are that load shedding will be implemented at Stage 3 for most of the week,” Eskom said in a statement. A further update will be published on Sunday afternoon, or as soon as there are any significant changes, the power utility said.
The City of Cape Town plans to build its first grid-connected solar plant next year as one of its interventions to end load-shedding over time. The city has issued the tender for the engineering, procurement and construction of a 7 MW solar photovoltaic (PV) facility in Atlantis.
State-owned Eskom, the South African Renewable Energy Technology Centre (Saretec) – based at the Cape Peninsula University of Technology (CPUT) – and the Global Energy Alliance for People and Planet (GEAPP) have signed a partnership agreement for the development of a new training facility to be established at the soon-to-be-decommissioned Komati power station, in Mpumalanga. The training facility is part of Eskom’s contribution to a just transition for the local community as the Komati power station is decommissioned.
Engineering News Editor Terence Creamer talks about society’s growing anger over load-shedding, the National Energy Regulator of South Africa’s public hearings into Eskom’s request for a 32% tariff hike and the signing of project agreements for three wind projects under Bid Window 5.
The African Development Bank (AfDB) has suggested a plan to South Africa that will help the nation use the $8.5 billion in climate financing pledged by some of the world’s richest nations to raise even more funds. The AfDB has recommended that South Africa park the funds in a special purpose vehicle, bank President Akinwumi Adesina. The SPV, which can seek a credit rating, can sell zero-coupon bonds to raise as much as $41 billion, Adesina said in an interview Thursday in Bloomberg’s New York office.
A deadline of the end of October has been set for the signing of power purchase and implementation agreements by the remaining 22 Bid Window Five (BW5) renewables projects, following the conclusion of the first such agreements with three wind projects, with a combined capacity of 420 MW and a combined investment value of R11-billion. IPP Office head Bernard Magoro reported on Thursday that all BW5 preferred bidders had now secured grid-connection Budget Quotes from Eskom, the absence of which had delayed the conclusion of the round from an initial deadline of April, and that “the next step is to now sign the agreements”.
Worldwide employment in renewable energy reached 12.7-million in the past year, which was an increase of 700 000 new jobs in one year despite the lingering effects of Covid-19 and the growing energy crisis, says global body the International Renewable Energy Agency (Irena), which has published a report in collaboration with the International Labour Organisation (ILO). The ‘Renewable Energy and Jobs: Annual Review 2022’ report identifies domestic market size as a major factor influencing employment generation in renewables, along with labour and other costs.
East and West African renewable energy services provider Starsight Energy and South African solar energy provider SolarAfrica Energy are merging to expand operations with ambition of becoming one of the largest commercial and industrial (C&I) solar developers in Africa. The proposed merger combines the strengths of the duo to unlock a pan-African renewable energy services provider positioned to serve a wider range of clients with a comprehensive mix of technology-enabled renewable energy solutions that provides power security, cost savings and carbon reduction.
Renewable energy development company Kibo Energy has signed a definitive share purchase agreement (SPA) to acquire a 100% interest in a waste reception, anaerobic digestor (AD) and combined heat and power (CHP) power plant named Southport at Merseyside, in the UK. The company said on September 21 that the acquisition of the 12 MW waste-to-energy project was in line with its refocused strategy to acquire and develop an energy portfolio centred on sustainable, renewable and clean energy solutions and opportunities.
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