IEA warns of more energy market volatility as transition investment lags

There is a looming risk of more turbulence ahead for energy markets, the International Energy Agency (IEA) warns in its latest World Energy Outlook publication. “The world is not investing enough to meet its future energy needs, and uncertainties over policies and demand trajectories create a strong risk of a volatile period ahead for energy markets,” the 2021 edition of the flagship report warns.
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South Africa, Pimco conclude R3bn issuance under UNECA green energy programme

As part of its Sustainable Development Goal Seven (SDG7) Programme, the United Nations Economic Commission for Africa (UNECA) announces that the Development Bank of Southern Africa (DBSA) and Pimco have reached terms on their issuance of R3-billion of debt securities, which signals the first closing. The SDG7 Programme, which was launched in February 2020, is aimed at deploying private capital in Africa to support the development of renewable energy.
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FSD Africa backs fintech pioneer to build new platform increasing access to carbon markets

FSD Africa, the UK government’s flagship financial sector programme in Africa, is making an initial investment of £650 000 in a digital solution connecting carbon credits from small-scale green projects across the global south with international buyers. The investment will deliver funding through the test phase of the solution being developed by Nick Hughes, who led the development of Africa’s mobile money service M-Pesa.
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Electrolux SA advances renewable energy journey

Household appliance manufacturer Electrolux South Africa (SA) has embarked on a journey to no longer make use of electricity from the national grid and to use solar energy to power its operations. As a result, the organisation is confident of cutting the carbon footprint of its local Kwikot water heater (geyser) manufacturing plant by 40%.
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CoJ signs deal with Kelvin power station for extra 100 MW

The City of Johannesburg (CoJ) signed a power purchase agreement (PPA) with the privately-owned Kelvin Power Station to increase electricity supply for the city by 100 MW. CoJ executive mayor Mpho Moerane signed the PPA on October 8 alongside Gauteng Premier David Makhura and CoJ Environment and Infrastructure Services Department executive council member Tania Oldjohn at the City Power headquarters, in Booysens.
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Kearney unpacks the decentralised power transition in Africa

Africa is on the cusp of a transition into a new energy paradigm, one in which technological and commercial innovation is delivering increasingly decentralised power to the continent in new ways, says consultancy Kearney.

Kearney has outlined in a white paper, the overarching strategic considerations for African utilities to forge a path to sustainability against the backdrop of this global paradigm shift.

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Sacci business confidence lower in September, but remains above pre-Covid levels

The South African Chamber of Commerce and Industry’s (Sacci’s) business confidence index (BCI) declined to 91 in September after having registered its highest level this year to date of 97 in May. The level of 91 in September, nevertheless, reflects a better business confidence level than the pre-Covid level of 89.9 in March 2020, Sacci notes.
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Ramaphosa lends his weight to plans for raising concessional funding for ‘just transition’

President Cyril Ramaphosa has doubled down on his argument that South Africa needs to act with “urgency and ambition” in transitioning to a low-carbon economy, but stressed that such increased ambition could not be achieved without financial support from developed economies. In his latest weekly newsletter, the President backs moves to raise grants and loans, at concessional rates, from the international community to support the country’s and Eskom’s just transition.
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Offshore wind offers decarbonisation solution for South Africa

A number of energy experts, academics and researchers view offshore wind as the answer to help South Africa decrease its carbon emissions by over 40% by 2025. “The wind market in South Africa is currently focussed on onshore wind, because we have the land space available and it is cost competitive, which means almost all of our members are developing onshore wind.
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Eskom denies Joburg ANC claim that city will take over power supply

Eskom has refuted a statement issued by the African National Congress’s (ANC’s) Greater Johannesburg Region branch over an apparent power-purchase agreement between the city and the state-owned power utility. In Friday’s statement, the ANC said Mayor Mpho Moerane had signed an agreement that will allow the city to take over power supply to areas such as Soweto, Orange Farm and Ivory Park.
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