R400m energy fund launched to help finance backup power solutions for SMEs

Small and medium-sized enterprise (SME) financier Business Partners has launched a R400-million Energy Fund aimed at helping SMEs finance viable sources of alternative electricity and thereby keep them in business during loadshedding.

According to data published by the South African Reserve Bank, the accumulative loss business of Stage 6 loadshedding amounts to between R204-million and R900-million a day, with a portion of these losses incurred by thousands of small businesses that do not have the resources to install back-up sources of energy.

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Outa calls on National Treasury to abandon Eskom exemption

The Organisation Undoing Tax Abuse (Outa) has submitted written comments to the National Treasury on its proposal to exempt State-owned utility Eskom from disclosing irregular, fruitless and wasteful expenditure in its yearly financial statements for 2022/23 and the following two years. A Government Gazette notice granting the exemption from the relevant section of the Public Finance Management Act (PFMA) and Treasury regulation was published on March 31; however, following public outcry, it was withdrawn on April 6 and replaced by a call for comments on a proposed exemption.
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Ramaphosa affirms climate goal amid coal push

South African President Cyril Ramaphosa pledged to meet the nation’s net-zero carbon emission target despite a push to keep coal-fired power plants open. Ramaphosa met with the Presidential Climate Change Commission on Wednesday to review reports it produced after its members met with communities and other stakeholders over the impact of the country’s climate goals, said Crispian Olver, executive director of the panel.
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Untapped renewable resources in Africa should receive more attention – RES4Africa

As the majority of the world embraces a shift in electricity generation away from fossil fuels towards greener, renewable sources of energy, Africa faces several challenges in attracting investment capital to undertake a significant energy transition, renewable energy support foundation Renewable Energy Solutions for Africa (RES4Africa) secretary general Roberto Vigotti stated on April 19.

Speaking during the first of RES4Africa’s Online Lab series, he said Africa’s energy sector was faced with five main decisions about its green energy trajectory, including its ambitions to achieve universal access to energy, meeting energy demand growth and building a reliable power system.

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Standard Bank online platform is supporting customers seeking to adopt solar energy

South African financial institution Standard Bank has highlighted that its online “home knowledge hub” LookSee provides extensive information regarding the choice, installation, financing and support of solar power systems for homeowners. (Standard Bank is not to be confused with UK-based multinational Standard Chartered Bank; the former ceased to be a subsidiary of the latter in 1987.) “Sunny South Africa gets more than 2 500 hours of sunshine a year and it ranks among the top three countries in the world in average direct solar radiation,” pointed out Standard Bank digital and eCommerce head Andrew van der Hoven. “Furthermore, as an infinite resource, solar power doesn’t just offer a way to keep the lights on, it also helps the environment by greatly reducing carbon emissions.”
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Eskom’s plan to bypass pollution controls could kill hundreds, study shows

A plan by South Africa’s state power utility to circumvent pollution controls at one of its two biggest coal-fired plants to enable it to bolster its generation capacity may lead to hundreds of deaths, according to the Centre for Research on Energy and Clean Air (CREA). Eskom Holdings’ application to partially bypass its flue-gas desulfurization unit at the Kusile station for just over a year could see it emit 280,000 extra tons of sulfur dioxide, while mercury emissions would jump 40%, the Helsinki-based pollution research nonprofit said in a report sent to Bloomberg News. It estimates that about 680 people could die as a result.
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Ramaphosa calls urgent Cabinet meeting to discuss new plan for old coal power stations

President Cyril Ramaphosa will chair a special Cabinet meeting on Wednesday to examine a plan by electricity minister Kgosientsho Ramokgopa to slow the decommissioning of old coal power stations as the country battles with energy supply. News24 understands that the special Cabinet meeting was called after the African National Congress’ (ANC’s) national working committee (NWC) on Monday approved a plan that would slow down the retirement of old coal power stations. 
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Salga makes suggestions regarding debt relief for municipalities

The South African Local Government Association (Salga) has acknowledged with concern the debt spiral that both State-owned utility Eskom and municipalities currently face. Municipalities were owed R306-billion as at December 31, 2022, while municipalities, in turn, owe Eskom R56.3-billion.
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Plentify, Cellucity partner to bring energy-saving product to stores

Climate technology company Plentify and independent dealer Cellucity have announced a partnership to bring Plentify’s flagship energy-saving HotBot product to select Cellucity stores nationwide, as well as its online ecommerce website. HotBot is a smart energy device that uses machine learning and the Internet of Things technology to control electric geysers, intelligently turning them on and off, reducing energy use by about 30% while still providing hot water when needed.
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City of Cape Town earmarks R1.2bn for Steenbras peaker plant upkeep

The City of Cape Town’s ‘Building Hope’ budget for 2023/24 proposes continued investment in its Steenbras hydroelectric pumped storage scheme, laying the foundation for a potential estimated investment of about R1.2-billion over the next nine years on the maintenance and expansion of the plant.

City of Cape Town energy mayoral committee member councillor Beverley van Reenen says about R1-billion has been set aside for the refurbishment and extension of the 160 MW Steenbras scheme and about R200-million is earmarked for the maintenance of Steenbras.

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