WASHINGTON : Today South Africa released its latest national climate commitment under the Paris Agreement. The country intends to limit GHG emissions to 398-510 MtCO2e by 2025, and to 350-420 MtCO2e by 2030, significantly lower than targets communicated in 2016. These new targets will also see South Africa’s emissions decline in absolute terms from 2025, […]
South Africa’s Green Energy Push Hinges on $28 Billion Debt Fix – EQ Mag Pro
The head of South Africa’s state power utility needs to substantially reduce its 402 billion rand ($28 billion) of debt to realize his vision of transforming the coal-addicted behemoth into a leading green-energy producer and create as many as 300,000 jobs in the process. Eskom Holdings SOC Ltd. supplies more than 90% of the nation’s […]
Eskom Considers $7.2 Billion in Wind and Solar Investment by 2030 – EQ Mag Pro
Eskom Holdings SOC Ltd., which supplies almost all South Africa’s electricity from coal-fired power plants, is considering spending 106 billion rand ($7.2 billion) on wind and solar energy by 2030. The investment plan, which Eskom could carry out by itself or in partnerships, is the most detailed demonstration yet of the utility’s ambition to move […]
South Africa Receives 102 Bids For 2.6 GW of Wind And Solar Projects – EQ Mag Pro
South Africa’s latest renewables procurement window for 2.6GW of capacity has received bids from 102 potential project developers, including 63 solar projects, according to the country’s Department of Mineral Resources and Energy (DMRE). Launched earlier this year with the intention of procuring 1GW of solar PV and 1.6GW of wind, the tender represents Bid Window 5 […]
South Africa Aims to Bring Pilot Carbon Capture Project Online in 2023 – EQ Mag Pro
Releasing around 470 million tonnes of carbon dioxide (CO2) a year, South Africa is the continent’s biggest emitter of greenhouse gases, and coal provides the bulk of its electricity CAPE TOWN: South Africa has started geological mapping at the country’s first carbon capture and storage (CCS) site, where it plans to inject vast quantities of […]
South Africa: Fortress Launches Bonds For 5.8 MWP of Solar Power
Listed property investment company Fortress is issuing sustainable bonds with a total value of almost $70 million. The company will use the funds to install solar photovoltaic systems for its property assets in South Africa. The sustainable bonds launched by Fortress REIT are listed on the Johannesburg Stock Exchange (JSE). The property investment company is […]
South Africa’s Absa, African Rainbow Launch Renewables Investment Platform
Johannesburg-based bank Absa Group Ltd (JSE:ABG) has joined forces with clean energy solutions provider African Rainbow Energy and Power (AREP) to create a new African-led renewables investment platform with some ZAR 6.5 billion (USD 443m/EUR 377m) of gross assets. The bank said it would make an initial investment of ZAR 500 million in cash, and […]
Five Solar PV Financing Options For C&I Businesses in South Africa
With the adoption of solar PV systems by commercial and industrial businesses now mainstream, the most significant consideration for companies is selecting the most appropriate financing option for their project. Charl Alheit, chief investment officer at SolarAfrica, looks at five options: PPAs, fixed roof rentals, lease agreement/equipment rental, upfront capital investment, and bank financing. As […]
South Africa: Boikanyo Solar Power Plant (50 MWp) Starts Commercial Operations
The Boikanyo solar photovoltaic power plant is starting its commercial operations in South Africa. The plant in the Northern Cape Province has a capacity of 50 MWp. This power is fed into the grid of the state-owned company Eskom. The good news in South Africa’s dynamic renewable energy sector is increasing. The capacity of the […]
DBSA Opens Call For Proposals For Embedded Generation Investment Programme in South Africa
Calling all private sector entities, local government municipalities and energy developers to submit proposals for the Embedded Generation Investment Programme (EGIP) for South Africa. 3 August 2021, Johannesburg, South Africa – The Development Bank of Southern Africa, (DBSA) is inviting all private sector entities and energy developers to submit proposals in response to South Africa’s […]