Old Mutual Investment Group Namibia (OMIGNAM), Namibia’s largest asset manager, has partnered with renewable energy company Sturdee Energy Namibia and Namibian financial services company IJG to acquire a 51% stake in Alten Solar Power (Hardap), the biggest grid-tied solar PV power plant in Namibia. The shareholding, acquired from Alten RE Developments Africa , represents a milestone in expanding Namibia’s secondary market for renewable energy projects. In a joint statement on December 20, Sturdee and Old Mutual emphasised that the transaction aligned institutional investors, including funds co-managed by Old Mutual and IJG, with Namibia’s renewable energy and climate change goals. Among these funds is the Namibian Infrastructure Equity Investment Fund Trust, with the Government Institutions Pension Fund as a main investor.
The National Energy Regulator of South Africa (Nersa) has said that its evaluation of State-owned utility Eskom’s sixth multi-year price determination (MYPD6) revenue application is in progress, with a final decision expected by the end of January. The regulator attributed the timeline to an extended public hearing period, the volume of information received and the need for further clarification on certain aspects of the application.
The Ministry of Electricity and Energy has unveiled the preferred bidders for Bid Window 7 (BW 7) of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), naming eight preferred bidders for projects with a combined contracted capacity of 1 760 MW.
Infinity Power Holding secured six projects, while Mulilo Renewable Project Developments and Scatec Solar Africa each won one. The projects will be located in Mpumalanga, Limpopo, North West and the Free State, representing investment of R31.4-billion.
Zimbabwe’s power-transmission company has invited bids for companies to install energy-storage units as part of measures to ease crippling energy shortages.
Zimbabwe Electricity Transmission & Distribution Co. wants battery-storage units installed on four sites that will provide at least three hours of 600 MW each in peak hours, it said in a statement in a government notice.
Eskom Holdings’s risk premium is dwindling as a turnaround at South Africa’s State-owned electricity company gathers momentum. The extra yield investors demand to take on the risk of holding the utility’s dollar debt without the benefit of a government guarantee narrowed to the lowest on record following the publication of the utility’s results on Thursday. And the yield premium over comparable US Treasuries is also at the lowest since the Eskom securities were issued in 2018.
South Africa’s total solar PV capacity surged to 8.97 GW this year, which includes 2.8 GW from public procurement and 6.1 GW from private-sector contributions, 11.9% higher than in 2023. A further 375 MW of capacity is scheduled to come online in 2025.
State-owned power utility Eskom has reported a R25.5-billion loss before tax for the financial year ending March 31, 2024, following a year marked by operational setbacks, financial strain and systemic inefficiencies. With 329 days of loadshedding and heavy reliance on costly open-cycle gas turbines (OCGTs) during the 2024 financial year, along with escalating municipal debt, the utility continued to face persistent challenges while working towards recovery.
Trade and development finance institution the African Export-Import Bank (Afreximbank) has signed a project preparation facility financing agreement for an up to 200 MW private-sector, reservoir-based hydropower project to be located along the Lufira river, in the Democratic Republic of Congo (DRC). The bank has partnered with independent power producer Kipay Investments, which will develop, design, build, install, commission and operate, as well as manage, the hydroelectric power plant.
South Africa is “still in the foothills of economic recovery” and, while external influences must still be skillfully navigated, the country’s future economic performance will hinge mainly on domestic policy decisions that maintain a macroenvironment that is efficient, stable and consistent for investment and job-rich growth. This is the main message of the North-West University Business School’s Policy Uncertainty Index (PUI) for the fourth quarter, with the PUI unexpectedly rising much further into negative territory to 65.7, compared with 53.5 in the third quarter of the year, said NWU Business School Professor Raymond Parsons.
From the moment Mpho Putsoenyane’s daughter Hlompho was born in Zamdela, a South African township beside the smokestacks and gas flares of Sasol’s oldest coal-to-liquid refinery, the baby struggled to breathe. Last year, when she was four months old, she turned purple and started gasping. Her parents rushed the baby to hospital, where medics only just revived her heart with a defibrillator, Putsoenyane recalls.
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