Financial services firm Nedbank has concluded a R2.1-billion Green Private Power Tier 2 Bond, listed on the sustainability segment of the JSE, with the proceeds to focus on notionally funding private renewable energy projects in South Africa. Private renewable energy power projects refer to commercial and utility-scale renewable energy projects with private corporate offtakers. These projects will play a pivotal role in advancing renewable energy capacity, accelerating the transition to a low-carbon economy and lending support to the underlying corporates’ own sustainability objectives.
An Eskom sub-contractor was arrested last week for allegedly trying to solicit a bribe from a coal transport company at the Camden power station in Mpumalanga. The suspect, who was arrested on 11 October, was a sub-contractor for the power utility’s Eskom Rotek Industries subsidiary, which does construction, maintenance and transportation services.
African National Congress President Cyril Ramaphosa claims that South Africa “has turned a definite corner as far as loadshedding is concerned”, adding that the levels and frequency of loadshedding are expected to improve during the fourth quarter. In closing remarks following the party’s National Executive Committee meeting, Ramaphosa attributed this claim to the “return of Kusile units, embedded generation by private households and businesses, and demand management”.
The International Energy Agency (IEA) is warning that investment in transmission and distribution infrastructure is failing to keep pace with renewables projects, and is leading to a large and growing queue of projects waiting to be connected to the grid globally. In a newly published report titled ‘Electricity Grids and Secure Energy Transitions’, the agency notes that advanced projects with a combined capacity of 1 500 GW, or five times the amount of solar and wind capacity added worldwide in 2022, are currently waiting to be connected to the grid.
President Cyril Ramaphosa reiterated that his administration wasn’t moving to privatize state-owned companies as the government initiates reforms to clean up their balance sheets and revive their performance. Private-sector investment was necessary to mobilize funds for economic infrastructure given the government’s limited fiscal space, Ramaphosa said at a meeting of his party, the African National Congress. The involvement would be “subject to stringent regulations,” which would enable energy security and exporting of critical goods.
Anglo American Platinum, BMW Group South Africa (BMW SA) and Sasol have partnered to prove that a hydrogen mobility ecosystem can operate successfully within South Africa. The three companies on Monday inked an agreement at the 2023 South African Green Hydrogen Summit in Cape Town that will bring hydrogen fuel cell electric vehicles (FCEVs) and supporting hydrogen refuelling technology to South Africa.
The Eastern, Northern and Western Cape provinces have agreed to team up in a bid to position South Africa as a global hub for the production of green hydrogen and derivative products, as well as to produce the components required in the green hydrogen value chain, ahead of the finalisation of the long-awaited Green Hydrogen Commercialisation Strategy. The three coastal provinces are all playing host to potential multi-billion rand green-hydrogen projects and have been working separately on strategies and roadmaps in an effort to capture the jobs, growth and industrialisation opportunities that could flow should the projects materialise.
The National Treasury has confirmed that the collective debt owed to Eskom by the 28 municipalities approved for participation under the Eskom Municipal Debt Relief Support Programme represents R26.69-billion of the R58.5-billion owed to the utility as of the end of March. Eskom has confirmed that the arrears debt has since climbed to above R65-billion.
The newly installed solar plant at Sun International’s Sun City, in the North West, is exceeding expectations, having saved the company over R1-million over the past two months. The R16-million, grid-tied, 1.4 MW installed capacity system, with 2 584, 550 W monocrystalline solar photovoltaic modules, was installed on the roof of Sun City’s conference and entertainment centre earlier this year to reduce the resort’s reliance on South Africa’s electricity grid.
Engineering News Editor Terence Creamer discusses Eskom’s plans to roll-out a new virtual wheeling platform that could unlock renewables supply to companies with operations spread across the country.
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