Sasol posts 13% rise in annual profit

South African petrochemicals major Sasol posted a 13% rise in annual profit on Wednesday as better operations in the second half offset the impact of weaker crude prices. The company said its headline earnings per share (HEPS), a profit measure, was 53.75 South African cents for the 12 months ended on June 30, up from 47.58 cents posted a year ago.
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AWPower approved as MFC-financed residential solar provider

Cape Town-based renewable energy solutions provider AWPower has been selected as an approved residential solar energy solutions provider for financial services provider Nedbank’s vehicle finance division MFC. “[This] allows us to offer our customers even greater value and faster access to tailored solar energy solutions that suit their unique needs . . . delivering a personalised service and designing tailormade systems that prioritise their energy requirements and budget,” AWPower MD Christiaan Hattingh says.
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M&R to sell stake in Aarden Solar

Engineering and contracting group Murray & Roberts (M&R) will sell its 80% interest in Aarden Solar to Main Road Centurion 30311 for R73-million. Aarden Solar is a wholesaler of solar panels, inverters, batteries and related green energy products. It provides its clients with an efficient procurement service for products suitable for solar installations, generally ranging from 3 kW to 10 MW.
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Eskom gets R16bn tranche of State help with debts

South Africa’s Treasury has paid R16-billion to heavily indebted power utility Eskom, the first tranche of a debt relief package that will wipe off more than half its liabilities, acting CEO Calib Cassim said on Tuesday. The Treasury offered a total of R254-billion to the State-owned company in February so it can pay its debts to global financial institutions, which currently top 423 billion rand.
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Scania plants one tree for every sustainability pioneer who partners with it

Transport company Scania Southern Africa is planning to plant a forest as part of its sustainability efforts. It has committed to plant one tree for every customer who partners with Scania to drive the shift to a sustainable transport solution.
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IAEA assures that it will monitor, on site, the discharge of treated water from Fukushima

International Atomic Energy Agency (IAEA) director-general Rafael Mariano Grossi on Tuesday gave the assurance that the agency would provide a continuing, objective, independent and impartial safety review during the discharging of treated water, currently stored at the Fukushima Daiichi nuclear power plant (NPP), into the sea. He assurance followed the announcement, also on Tuesday, by the Japanese Government that it had asked Tokyo Electric Power Company (Tepco) to proceed promptly with its …
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Bank of China, IDC sign agreement on R10bn funding package

South Africa’s Industrial Development Corporation (IDC) and the Bank of China (BoC) have signed a framework agreement that could unlock a R10-billion funding package over the next five years to support regional projects in energy, infrastructure, manufacturing, agriculture, and mining. Signed ahead of the Brics summit in Johannesburg, BoC CEO Dr Longjian Chen said the agreement highlighted the bank’s resolution to partner with South Africa in sustainability, just energy transformation and other funding initiatives.
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DPWI details efforts to support energy security

Public Works and Infrastructure Minister Sihle Zikalala on August 20 said the department was supporting efforts by the Electricity Minister to improve energy security. Among its efforts, the department was working to urgently acquire properties for the expansion of State-owned Eskom’s transmission infrastructure, as well as accelerating the expropriation applications for Eskom servitudes.
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New Development Bank to provide R3.2bn loan to TCTA for LHWP Phase 2

The New Development Bank (NDB) – an initiative of the Brazil, Russia, India, China and South Africa bloc – and South Africa’s Trans-Caledon Tunnel Authority (TCTA) have signed a R3.2-billion loan agreement for the implementation of Phase 2 of the Lesotho Highlands Water Project (LHWP). The NDB will provide the project loan to the TCTA under the sovereign guarantee of South Africa.
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TIPS sets out to create a South Africa-focused Just Transition Transaction Framework

Independent, nonprofit economic research institution Trade & Industrial Policy Strategies (TIPS) has launched research on a proposed Just Transition Transaction Framework. During a webinar on August 17, the institution introduced the content of the framework and the process for improving the framework over time through learning by doing, evidence collection and analysis.
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