Connect with us
Anglostratits

Business

Private power booms as green energy attracts finance

Published

on

Green Energy

International investors are also being attracted by Africa’s renewable-energy opportunities

CAPE TOWN, South Africa, October 5, 2022/APO Group/ — 

Private power is booming. This was the message from Rand Merchant Bank (RMB) CEO Emrie Brown at the Green Energy Africa Summit (GEAS) (https://GreenEnergyAfricaSummit.com/), taking place at the Cape Town International Conference Centre from October 4-5.

Brown was speaking during a successful first day of the Summit, which drew hundreds of local and international delegates.

Brown identified a growing trend for metros and private companies to either generate their own power, or to source it from third parties, as power opportunities expanded beyond the traditional state utility, Eskom.

The good news is that financial institutions such as RMB are seeing value in funding independent power initiatives. International investors are also being attracted by Africa’s renewable-energy opportunities.

Brown said South Africa’s current energy shortfall was estimated at around 6 000MW, but ballooned to around 15 000MW if one took into account Eskom breakdowns, and its plans to retire power stations at end of life.

To resolve such an energy crisis would require significant investment – from both the private and public sector. Brown said it was estimated that the total power-sector investment until 2030 would be R1,2 trillion ($67 billion).

Brown said RMB estimated that over the next three years, $7,5-$10 billion would be required to fund the government renewable-energy programme alone.

Brown said the bank believed such programmes were highly bankable, and would require 80 to 85% of debt. She said bank was encouraged by increased activity in the sector under the Renewable Energy IPP Procurement Programme (REIPPPP), the risk-mitigation IPP programme, and initiatives by municipalities such as Cape Town, eThekweni and Johannesburg to set up their own power-generation programmes.

“We fully support these initiatives and believe they’re a critical part of our energy transition,” said Brown. “Private power is booming! Private companies now either generate their own power, or they source it from third parties.

We fully support these initiatives and believe they’re a critical part of our energy transition

She said it was critical to continue to facilitate registration and licensing of generation capacity, and to gain clarity around wheeling of power across South Africa’s network.

Brown said that, based on deal-flow, RMB estimated that the funding required for private power projects in the next two to three years would be at least $2.8 billion.

Delivering a keynote address at the GEAS, United Kingdom trade commissioner for Africa John Humphreys agreed that renewables represented a significant investment opportunity for international, as well domestic companies.

“Renewables are a good investment,” he said. “Renewables are bringing down the overall cost of energy, and making business more efficient, which makes it an increasingly attractive investment.”

Humphrey emphasised that the UK was committed to investing in Africa’s green-energy potential.

 “With a growing population and an economy worth $2.4 trillion, there are huge opportunities across African emerging sectors such as technology, clean energy and sustainable infrastructure,” said Humphreys. “We are excited to be growing the UK-Africa relationship in these industries.”

Brown said only a fraction of Africa’s energy potential was currently being exploited – in areas such as hydropower, solar, biomass, wind and geothermal energy.

“Domestic and international capital must be mobilised for innovative financing in Africa’s energy sector with a focus on renewable energy. Electrification efforts need to be open to private-sector investment and innovations, such as solar energy and battery storage, which have made a tremendous impact in enabling access for millions of poor and underserved households.”

Brown said the challenge of Africa’s energy transition was twofold: managing the risks to vulnerable communities directly impacted by climate change, while at the same time supporting the people whose lives are inextricably linked to the fossil fuel industry, and for whom that transition represents a direct threat to the livelihoods.

“The greatest challenge is to deliver the vision of a just transition – a more socially inclusive society, which has managed the social risk of the change and sees the economic opportunity that the change brings,” she said.

GEAS Vice President of Energy Paul Sinclair said the views of business leaders supported the mission of the Summit to improve sustainable energy access in a way that made business sense.

“We completely agree that there are great opportunities in low-carbon energy,” he said. “This event is all about enabling investment into new energy projects, providing energy access and shaping the future of Africa.”

Distributed by APO Group on behalf of Green Energy Africa Summit.

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

Published

on

Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

Continue Reading

Business

South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

Published

on

Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

Continue Reading

Business

Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

Published

on

Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

Continue Reading

Trending