The Department of Forestry, Fisheries and the Environment says it is appointing an “independent expert” to assist Minister Barbara Creecy in responding to an appeal by floating powership provider Karpowership SA. Karpowership SA, which falls under Turkey’s Karadeniz Energy Group, was in March named a preferred bidder in the state’s Risk Mitigation IPP Procurement Programme (RMIPPPP) to fast-track the production of new power to cut down on load shedding.
The Namibian government may release a second request for proposal (RFP) early next year for the development of another large-scale green-hydrogen complex, having announced a preferred bidder for the first such project in early November. Presidential Economic Adviser James Mnyupe told delegates to the virtual Africa Green Hydrogen Forum on November 23 that Namibia may make an announcement on the new RFP at the World Economic Forum, scheduled to take place in Davos, Switzerland, from January 17 to 21.
Minerals Council South Africa member companies could deliver up to 3 900 MW of renewable energy projects worth an estimated R60-billion, which, if built, would relieve pressure on State-owned power utility Eskom and go a long way towards meeting the industry’s commitment to achieve net-zero carbon emissions by 2050. Eskom CEO Andre De Ruyter told a Parliamentary Portfolio Committee last week that the utility needs an additional 4 000 MW to 6 000 MW of generating capacity to conduct an effective and sustainable reliability maintenance programme on its existing fleet of power stations without disrupting national electricity supply.
South Africa’s graft ombudsman will hold a week of hearings as part of an investigation into the awarding of contracts to independent renewable power producers. The probe was established in 2019 after a complaint by a nongovernmental organisation that alleged “improper conduct and maladministration” by Eskom Holdings and the Department of Mineral Resources and Energy, the Public Prosecutor’s spokesperson Oupa Segalwe said in a post on Twitter.
South Africa’s Government Employees Pension Fund (GEPF), the biggest investor in Eskom Holdings debt, said there were significant hurdles to a proposal that its bonds be converted to equity to help rescue the struggling power monopoly. The initiative, which has been backed by the country’s biggest labor unions, was first examined by the Public Investment Corporation (PIC), which manages most of the pension fund’s investments, but the GEPF has not been formally approached about a potential swap, its investment chief said.
France’s TotalEnergies and Italy’s SpA said they were ready to invest billions of dollars in Libya as the Opec nation emerges from a decade of conflict and civil war. “I want to contribute to Libya’s comeback,” TotalEnergies’ CEO Patrick Pouyanne said on Monday at an energy conference in the capital, Tripoli. “Some may see more boldness than wisdom in TotalEnergies’ decision to partner with Libya. I don’t. Where they see risks, I see the opportunities.”
As Eskom Holdings prepares to talk to investors about plans to address a multibillion-dollar debt load, the performance of the company’s bonds already suggests some skepticism from bondholders. The yield premium of Eskom’s 2028 dollar bonds without a government guarantee over those with state backing has widened almost 50 basis points since the beginning of October to the most in four months. The state-owned electricity company has 402 billion rand ($26 billion) of debt, of which about 70% is guaranteed by the government.
Energy and chemicals groups Sasol aims to begin producing 6 t/d of green hydrogen at its facility in Sasolburg by 2023, VP for climate change Shamini Harrington reports. In a presentation delivered during the Africa Green Hydrogen Forum, Harrington said that the green hydrogen would be produced using a combination of 60 MW of renewable electricity and existing assets, including existing electrolyser assets.
The University of the Witwatersrand (Wits) Business School has introduced a new stream in its existing Postgraduate Diploma (PGDip) in Management in the field of Energy Leadership, which offers a specialisation in electricity. Additionally, the South African-German Energy Programme and Capacitates for the Energy Transition (SAGEN-CET), a programme implemented by German development agency GIZ, is offering a limited number of bursaries for students who choose the electricity stream course as part of their PGDip at Wits Business School.
As Eskom and the National Energy Regulator of South Africa (Nersa) head for another legal showdown, attention has turned to the legality and practicality of the regulator’s “preferred option” and timetable for ensuring that a tariff determination is made in time for implementation on April 1 next year. In a letter to Eskom, dated November 12, Nersa outlined four options, including:
INDUSTRY NEWS
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- Standard Bank sets new sustainable finance target of R450bn by 2028April 1, 2025 - 10:00 am
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