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Project launched to define role of finance in South Africa and India’s ‘just transitions’

A new multi-partner initiative has been launched with the aim of defining the role that finance can and should play in supporting both South Africa and India’s aspirations to implement “just transitions” to more climate-resilient economies. The ‘Just Transition Finance Roadmaps in South Africa and India Project’ is being backed by the UK’s development finance institution, the CDC Group, in partnership with Trade & Industrial Policy Strategies (TIPS) and the National Business Initiative (NBI), of South Africa, as well as the Observer Research Foundation, LSE Grantham Research Institute on Climate Change and the Environment, the Harvard Kennedy School’s Initiative for Responsible Investment and the National Institute of Public Finance and Policy.
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Mainstream Renewable Power signs equity investment deal with Aker Horizons

Global wind and solar company Mainstream Renewable Power has signed an agreement with renewable energy investment company Aker Horizons, which will take a 75% equity stake in the company, subject to regulatory approval. The deal values Mainstream at €1-billion (including a potential earn-out of up to €100-million in 2023 and subject to customary adjustments), which represents a significant return for shareholders of up to 5.5 times investment, the company acclaims.
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Renergen hoping to highlight importance of diesel dual fuel with new truck

Emerging natural gas and helium producer Renergen has replaced its old transport truck with a new one, equipped with the diesel dual fuel (DDF) kit and tank from the former truck, in a bid to prove the equipment will “outlast the truck”. While the truck itself is not linked to the company’s recently announced cold-chain storage solution, the company uses the truck to transport gas to its customers.
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Clir provides software to enhance Lake Turkana Wind Power wind farm

Renewable energy software company Clir Renewables has formed a partnership agreement with renewable energy generator Lake Turkana Wind Power (LTWP).

The partnership will result in Clir enhancing LTWP’s wind farm performance tracking and support its Kenya-based team in realising potential opportunities for enhancement.

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Renewable Energy Development Zones vital for a just energy transition − SAWEA

Renewable energy development zones (REDZ) have a key role to play in the South Africa’s just energy transition, creating priority areas for investment in the electricity grid and increasing South Africa’s green energy map, by enabling higher levels of renewable power penetration, industry organisation the South African Wind Energy Association (SAWEA) says. REDZ are geographical areas where wind and solar photovoltaic power development can occur in concentrated zones.
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Eskom to resume power cuts in South Africa on Monday

South Africa’s state power utility Eskom said on Sunday that a nationwide phased power cut due to end on Sunday would resume from Monday morning because some generating units were not yet operational. “As the return to service of some generation units has been delayed … Stage 2 loadshedding will be implemented from 5:00 tomorrow morning,” Eskom tweeted.
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Shearwater developing SMR, hydrogen project in North Wales

UK-based hybrid clean energy company Shearwater Energy is developing a wind small modular reactor (SMR) and hydrogen production hybrid energy project in North Wales.

The project will provide 3 GW of zero-carbon energy and is also expected to produce over three-million kilograms of green hydrogen a year for use by the UK’s transport sector, ensuring full use of the energy produced.

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Exxaro appoints independent nonexecutive director

Diversified miner Exxaro’s board of directors has approved the appointment of independent nonexecutive director Chanda Nxumalo, effective February 1.

She has 15 years of experience in the renewable energy and power sector, having worked across North America and Europe gaining experience in delivering technical, commercial and environmental advisory services in the renewables sector.

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Frameworks put in place for incentivised tariffs for energy-intensive users

Creamer Media’s Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about frameworks that have been put in place to allow companies that use electricity intensively to apply for an incentivised tariff.
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Staying local pivotal for Mozambique LNG project

Local content and employment are integral to one of the largest liquefied natural gas (LNG) projects under way on the continent, says petroleum refining company Total Mozambique country chair Ronan Bescond. The Area 1 Mozambique project is one of three LNG projects that are under way along the Mozambique coast, and one of the largest in the world. The two-train project is expected to yield about 65-trillion cubic feet of recoverable gas, with the ability to expand to up to 43-million tonnes a year.
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