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AFRICOAST ENGINEERS SA ESTABLISHES RENEWABLE ENERGY COMPANY
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AFRICOAST ENGINEERS SA ESTABLISHES RENEWABLE ENERGY COMPANY

Renewable energy engineering firm AfiCoast Engineers SA has announced that a new company,
AfriCoast Energy, will now be responsible for all future renewable energy projects - particulary
wind and solar - while it will also play a key role in guiding AfriCoast Engineers' current
basket of renewable energy projects.
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Industry News

Complete overhaul of appointment process essential to save Joburg, warns CDE

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The Centre for Development and Enterprise has issued an urgent directive to political parties ahead of the upcoming November local government election, warning that Johannesburg's compounding infrastructure and management crisis will never be resolved without a complete overhaul of how municipal leaders and boards are appointed. In its newly released third Johannesburg Matters series report, the think tank urged all contesting political parties to publicly commit to transparent, competitive and merit-based appointments. Furthermore, the CDE demands that political office-bearers be kept out of procurement, appointments and daily operational decisions. "If there is a coalition, this commitment must be a non-negotiable component of the coalition agreement. No turnaround strategy will succeed if the institutions responsible for implementing it remain weak, politicised, and poorly led," said CDE executive director Ann Bernstein.

Norwegian State guarantee backs Lyra Energy's private power platform in South Africa

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South African renewable energy platform Lyra Energy, which is owned by Scatec and STANLIB Infrastructure Investments, has secured a payment guarantee facility backed by the Norwegian State under the Norwegian Agency for Development Cooperation’s (Norad's) Sovereign Guarantee Scheme for Renewable Energy. The facility is a payment-risk mitigation instrument. Lyra says it sits within its trading structure and improves the bankability of its commercial and industrial (C&I) offtake portfolio, giving lenders a more efficient basis for assessing payment risk across a book of corporate customers.

Absa manufacturing confidence index down to 27 points in the third quarter

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Business confidence in the manufacturing sector deteriorated by four index points quarter-on-quarter to 27 in the third quarter of the year, as weak domestic demand, deteriorating export activity and persistent economic uncertainty continued to weigh on business performance, financial services firm Absa’s Manufacturing Survey for the third quarter shows. Domestic sales remained muted for a third consecutive quarter, while export sales declined by a further six index points compared. Domestic orders also retreated by seven index points and export orders by five index points, while capacity underutilisation increased, which points to greater spare capacity in the sector.

Sasol signs fuel supply deal with White Desert for polar flights

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South African petrochemical company Sasol on Tuesday signed an agreement to supply co-processed sustainable aviation fuel (SAF) to luxury tourism outfit, White Desert, for its polar trips to Antarctica, company officials said. The deal is the next step in Sasol's cleaner jet fuel journey after receiving independent certification from German agency TUV SUD agency in April for its sustainable aviation fuel.

Mpact, Enpower Trading reach financial close on renewables PPA

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JSE-listed paper and plastics packaging company Mpact and independent power trading company Enpower Trading have reached financial close on a five-year renewable energy power purchase agreement (PPA), marking an important step in Mpact's transition towards a greater supply of renewable electricity across its South African operations. Enpower will supply about 30 GWh/y of renewable electricity to Mpact, sourced from SolarAfrica Energy's SunCentral solar project, near De Aar, in the Northern Cape, and wheeled across the national electricity grid.
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