The South African Nuclear Energy Corporation (Necsa) on Wednesday announced its support of the recent National Energy Regulator of South Africa (Nersa) decision to approve the Section 34 (of the Electricity Regulation Act) Determination for 2 500 MW of new nuclear energy. Necsa described this approval by Nersa as “a step in the right direction”, to ensure that nuclear energy would continue to be part of the country’s energy mix (in line with the Integrated Resource Plan 2020). “The approval of the 2 500 MW comes at a critical time when the South Africa economy needs resuscitation following the devastation of the Covid-19 pandemic,” affirmed Necsa board chairperson Dave Nicholls. “This will play a role in job creation which will assist in the dire state of unemployment in the country.”
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A Just Transition Transaction (JTT) that enables South Africa to secure highly concessional finance from rich countries in return for accelerated decarbonisation would help create the fiscal space required to take such a programme forward, a new Meridian Economics study asserts. Released to coincide with the visit to South Africa of climate envoys from Europe, the UK and the US ahead of the upcoming COP26 gathering in Glasgow, Scotland, the study argues that such a transaction could yield interest savings of R100-billion over 25 years and unlock the R750-billion in investment needed to support the country’s transition from coal to renewables.
The Democratic Republic of Congo (DRC) began reviewing a $6.2-billion minerals-for-infrastructure deal with China that’s faced growing criticism since President Felix Tshisekedi came to power almost three years ago. Congo’s council of ministers agreed to create a commission to investigate “major legal, technical and financial problems observed in the collaboration agreement” between the two countries, according to minutes from the meeting published on the website of the prime minister’s office. The council asked the commission to present its findings in two weeks.
The State-owned Industrial Development Corporation (IDC) is aiming to convert a significant portion of a R24-billion investment pipeline into commitments following a steep fall in both approvals and disbursements during its Covid-afflicted 2020/21 financial year. The development finance institution reported that disbursements fell to R6.3-billion, from R8.4-billion in the prior year, while approvals slumped to only R5.4-billion from R9.5-billion.
Pan-African industrial parks developer Arise IIP has been awarded a carbon neutral certification for its Gabon special economic zone (SEZ). The certification provides a transparent third-party assessment of the SEZ’s carbon footprint and offsetting.
The Energy Performance Certificate (EPC) regulations gazetted by the Department of Mineral Resources and Energy (DMRE) in December 2020 present opportunities for individuals and businesses in the energy sector, including young professionals, entrepreneurs and graduates in the engineering disciplines with the mindset to be a part of the energy efficiency solution, says Alliance Energy MD Vash Singh. Under the EPC regulations, buildings in South Africa need to have their energy performance assessed by an accredited party, which will issue an EPC that rates the building in terms of energy efficiency.
State-owned electricity utility Eskom says it is “not feasible” for the National Energy Regulator of South Africa (Nersa) to make a revenue determination, for implementation on April 1 2022, on the basis of a new methodology that has yet to be consulted or finalised. On September 24, Nersa published a consultation paper on a possible new price determination methodology in which it states that the “current revenue-based methodology has fallen short in providing stable prices”.
The South African Nuclear Energy Corporation (Necsa) has highlighted the importance to the country, and indeed the wider world, of the now-authorsied programme to construct a new Multipurpose Reactor (MPR). It did so in its statement, issued on Sunday, welcoming the Cabinet’s decision to approve the acquisition and construction of an MPR. The MPR will be located at Necsa’s complex at Pelindaba, west of Pretoria, and will replace the State-owned entity’s current 20 MW SAFARI-1 research reactor, which first became operational in 1965. “Cabinet approval of [the] SAFARI-1 replacement is a major milestone for South Africa, the continent and the whole world,” affirmed Necsa Group CE Loyiso Tyabashe.
Minerals Council South Africa has signalled its support for South Africa’s transition to a low-carbon economy, but is concerned that the immediate risks associated with the country’s more ambitious decarbonisation targets are not being adequately addressed. CEO Roger Baxter told participants to a virtual Presidential Climate Commission dialogue on the just transition on Thursday that systemic policy interventions, and other support, were required to drive a “risk-managed decarbonisation journey for South Africa”.
If China puts the same financial heft behind green energy in emerging nations as it has in developing fossil fuels projects overseas, it’ll be a step change for global investment in renewables.
President Xi Jinping told the United Nations General Assembly this week that China will accelerate support to developing nations to install low-carbon energy sources as the nation also halts the building of new coal power overseas.
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