Based on the current policy environment, the global market for clean energy technologies is set to rise from $700-billion in 2023 to more than $2-trillion by 2035, close to the value of the current global crude oil market, a new International Energy Association (IEA) report shows. The latest edition of the IEA’s ‘Energy Technology Perspectives 2024’ (ETP-2024) report, which was published on October 30, states that trade in clean technologies is also expected to rise sharply. Within a decade from now, it will more than triple to reach $570-billion, more than 50% larger than current natural gas global trade figures.
South Africa will only meet its current energy demand requirement by 2040, according to a report by Standard Bank and Cresco Group. The market assessment of South Africa indicates solar PV nd wind installed capacity, utility and rooftop, will increase from 10 GW this year, to 37 GW by 2030 and 77 GW by 2040.
The National Energy Regulator of South Africa (Nersa) has approved four new electricity trading licences, the issuance of which had been opposed by Eskom, along with the country’s first-ever private import/export licence. The Energy Regulator, which is Nersa’s highest decision-making body made the approvals during their meeting on October 29, agreeing with the approval recommendation agreed to by the Electricity Subcommittee on October 1.
The success of the manufacturing sector, which plays an important role in economic development and is important for job creation, depends on reliable, stable and affordable energy supply. Manufacturers in South Africa could benefit from investing in renewable energy to not only provide that energy, but also to reduce carbon emissions, consulting firm BMA director Meghan King told delegates at the recent Manufacturing Indaba.
Power grids vital to expanding access to energy in Africa and transitioning to cleaner sources are poised for a growing wave of funding that governments should prepare for, according to the UK development bank British International Investment. “Transmission in terms of capital needed is the next evolution that is waiting to really take off,” Chris Chijiutomi, BII’s managing director and head of Africa, said in an interview in Cape Town Thursday. That’s because grid upgrades on the continent were typically financed with loans from the World Bank or other agencies, “but as the governments’ fiscal position has got worse” there’s been a realization that there aren’t enough funds, he said.
A new matchmaking platform to directly link providers of grant funding pledged to South Africa’s Just Energy Transition Investment Plan (JET-IP) with domestic beneficiaries is aiming to ensure the disbursement of at least R600-million in grant funding to 20 projects in 2025 and facilitate disbursements of R1.5-billion to 50 projects in 2026. Grant recipients could include local small firms, trade unions, municipalities, as well as community-based and nongovernmental organisations.
The South African Wind Energy Association (SAWEA) has announced the opening of applications for the 2025 Wind Industry Internship Programme (WIIP). The initiative supports South Africa’s goal of achieving a low-carbon economy and a climate-resilient society through creating jobs, aligning with South Africa’s Just Energy Transition Investment Plan (JET-IP), and the South African Renewable Energy Master Plan (Sarem).
Energy storage company Balancell has cut the ribbon on its new R80-million assembly plant in Ndabeni, Cape Town. The lithium ferro-phosphate battery assembler’s previous facility was limited to 250 MWh capacity a year, with the new operation scaled up to 1 GWh.
South Africa is in talks with its international climate-finance partners over the provision of guarantees for loans for the construction of energy-related infrastructure. “We are managing, in particular, issues with our international partners” around guarantees, said Joanne Yawitch, head of the project management unit for the $9.3-billion pact within the South African presidency, at an event in the eastern town of eMalahleni on Friday. “We are on the edge of seeing some of that finance flowing.”
Engineering News editor Terence Creamer discusses government’s review of the current framework through which electricity capacity is procured from independent power producers; the reasons for the review; and what changes are being considered.
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