Page 12 - AfrElec Week 10 2022
P. 12
AfrElec POLICY AfrElec
Russian invasion of
Ukraine to impact SA
power sector
SOUTH AFRICA THE Russian invasion of Ukraine and its impact evaluating other ways the invasion will have an
on the global economy is to have a knock-on impact on the company, including the cost of
effect on the South African power utility, Eskom coal.
and electricity supply in the country. “We are in the process of doing that, but we
According to businesstech.co.za, the power are really concerned about what the impact of
utility held a press briefing yesterday where the war up there will have on our operations
Eskom’s financial officer ,Calib Cassim, said that down here in South Africa,” he said as quoted by
the Russian invasion of Ukraine had led to an businesstech.co.za
escalation in oil and gas prices which still needs Eskom regularly makes use of Open Cycle
to be factored in by Eskom. Gas Turbines (OCGTs) and burns through diesel
This was echoed by the chief financial officer, to supplement the energy supply.
Jan Oberholzer, who said that Eskom is currently
Norway & UK: ZAR600mn
towards South African
renewable energy
SOUTH AFRICA NORWAY together with the United Kingdom in the country. It has a 49% stake in three solar
have committed ZAR600mn ($38.8mn) worth hybrid storage projects that were announced as
of investment in the South African renewable preferred bidders in the Risk Mitigation Inde-
energy industry. pendent Power Producer Procurement Pro-
Today, the Norwegian Investment Fund gramme: Kenhardt 1, 2 and 3.
(Norfund) and the UK development finance H1 CEO Rayburn Hendricks expressed
institution CDC Group have signed a memoran- the finance company’s readiness to take on the
dum of understanding (MoU) with broad-based project.
black economic empowerment investment com- “From H1 we are ready to do the job that is
pany H1 Capital to fund 2.4 GW of new wind expected of us. This is something we worked on
and solar projects. for a very long time… we are able to perform our
The projects are to form part of bid win- obligations.”
dow five of the Renewable Energy Independ- The projects are to be developed by Norwe-
ent Power Producer Procurement Programme gian firm Scatec and will be based in the North-
(REIPPPP). ern Cape.
According to Fin24, H1 Capital is an invest- The project is also expected to generate about
ment and development company which has 2.4 GW of renewable energy.
funded numerous renewable energy projects
P12 www. NEWSBASE .com Week 10 10•March•2022
