Climate envoys from those developed countries that have entered into a Just Energy Transition Partnership (JETP) with South Africa have confirmed that their governments will not fund fossil-fuel projects, even if such projects form part of the broader investment plan currently being compiled by South Africa. Speaking following the latest round of JETP discussions, UK climate envoy John Murton said the investment plan, or JETP-IP, would be larger than what could feasibly be supported and catalysed using the initial $8.5-billion being offered by France, Germany, the UK, the US, and the European Union (EU) over the coming three to five years. In addition, it could include non-renewables generation technologies.
Load-shedding will continue until Saturday, Eskom confirmed on Thursday, adding that the outlook for the weekend would be communicated over the weekend. It will be downgraded to Stage 1 on Saturday.
Russia’s State-controlled Rosatom began construction of Egypt’s first nuclear power plant as the North African nation balances its ties with the Kremlin and western allies who have sanctioned Moscow over its war in Ukraine. Work has started on the first of four 1,200-megawatt power units that will be built at El Dabaa, 300 kilometers (186 miles) northwest of Cairo, according to a statement from Rosatom. The company is the world’s biggest supplier of nuclear fuel and reactors, and hasn’t been sanctioned by the US or Europe.
Australian fashion retailer the Cotton On Group (COG) has invested R300-million in new custom-built headquarters and a distribution centre in Waterfall City, Midrand, which it officially launched on July 20.
Construction started in January 2021, and since June this year, 2.2-million units of COG’s eight brands have been moved from the group’s former premises in Pomona, Kempton Park, to the new site – more than 100 truckloads of stock.
South Africa, where daily blackouts are a fact of life, knows better than most that it cannot rely on coal power. But just when its plans to shift to renewable energy to help drive Africa’s most industrialised economy were gaining momentum, rising costs linked to the pandemic and the war in Ukraine threaten further delay.
Since the launch of government’s Black Industrialists Programme in 2015, coupled with efforts from the Industrial Development Corporation, the National Empowerment Fund and other agencies, more than 900 black industrialists have been supported, to the value of R55-billion. In turn, this has delivered socioeconomic returns valued at R160-billlion to the economy and created more than 50 000 jobs, President Cyril Ramaphosa announced at the Black Industrialists and Exporters conference, held in Sandton, on July 20.
South African power utility Eskom faces increased financial pressure from lower than anticipated tariffs, rising diesel costs and the impact of labour disruptions, all which could lead to the need to raise more capital, rating agency S&P Global said. Intermittent power cuts have been blamed for hindering growth in Africa’s most advanced economy.
A surge in renewable power coupled with a slowdown in China will see carbon emissions from electricity production ease from the record level last year, according to the International Energy Agency (IEA). Emissions from power generation are set to decline about 0.3% this year, down from a forecast in January that emissions would remain flat, the IEA said in its Electricity Market Report. That pace will need to increase more quickly to get the world on a trajectory that will avoid the worst consequences of climate change.
Public Enterprises Minister Pravin Gordhan has asked trade union Solidarity to provide a list of people with the necessary technical skills to help government address the skills crisis at Eskom. On 14 July, Gordhan wrote to the managing director of Solidarity, Dirk Hermann, to thank the trade union for its offer in May this year to mobilise critical skills.
Renewable-energy solutions provider Scatec is optimistic that its R16.4-billion solar-battery project in the Northern Cape will finally address long-standing questions about the so-called “intermittency” of renewables. The project, which achieved financial close this week, will couple 540 MW of solar photovoltaic (PV) generators to lithium-ion batteries with a capacity of 225 MW/1 140MWh to provide 150 MW of dispatchable power into South Africa’s grid under a 20-year power purchase agreement.
INDUSTRY NEWS
- Sasol plots new route to emission goal after refocusing on coalJanuary 22, 2025 - 2:00 pm
- Eskom now targeting full year loadshedding-free milestone as it breaches 300-day markJanuary 21, 2025 - 10:05 am
- Mulilo gears up for big year of execution as it accelerates transition to integrated IPPJanuary 21, 2025 - 10:05 am
WHERE TO FIND US
Address
9 Yellow Street
Botshabelo Industrial Area
Botshabelo, Free State
Call / Email Us
Tel: +27 (0) 51 534 1651
Email: info@transfix.co.za
