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Adams and Bellatrix solar power projects, South Africa

By: Sheila Barradas     6th November 2015 The project involves the construction of the 5.8 MW Adams and 5.8 MW Bellatrix solar projects, in the Western Cape. 

Mobilising funding for ten small renewable-energy projects

By: Anine Kilian     6th November 2015 Ten small preferred energy projects bidders under the Department of Energy’s Independent Power Producer Procurement Programme (IPPPP) were announced by Energy Minister Tina Joemat-Petterson at the South African International Renewable Energy Conference last month.   Joemat-Pettersson said the... 

Cabinet approves black industrialists policy 

By: African News Agency      5th November 2015 Cabinet approved the long awaited Black Industrialists Policy, Minister in the Presidency Jeff Radebe announced on Thursday. Briefing journalists at Parliament on the fortnightly post cabinet meeting, Radebe said the policy would form part of government’s plans to expand South Africa’s industrial... 

Development delays at Lace mine to hit 2016 Q1 cash flow

By: Natalie Greve     3rd November 2015 South African diamond asset developer DiamondCorp continues to advance development at the Lace diamond mine, in the Free State, with work on the Upper K4 (UK4) block focused on preparing the 310 m production level for production ramp-up by the end of the year. The company said in an update on... 

Held hostage?

By: Terence Creamer     30th October 2015 South African Reserve Bank governor Lesetja Kganyago argued forcefully last week that the current adverse global economic climate should not be used as an excuse for ignoring the ongoing domestic constraints to economic expansion. He acknowledged that Africa’s most advanced economy faced a... 

Evraz-linked companies seek to have Highveld rescue plan declared invalid

By: Terence Creamer     23rd October 2015 Two Evraz-linked companies, East Metals and Mastercroft, have approached the High Court to have the Evraz Highveld Steel and Vanadium (Highveld) business rescue plan declared invalid and for the October 13 vote by creditors supporting the plan to be set aside. East Metals is a large creditor,... 

Exxaro’s BEE shareholder secures IDC guarantee

By: Natasha Odendaal     23rd October 2015 Diversified miner Exxaro on Friday said its majority black economic-empowerment shareholder consortium Mainstreet 333 (MS333) had secured a R700-million guarantee from the Industrial Development Corporation (IDC). In July, Exxaro said it would provide MS333 a R400-million loan to repay a portion... 

South Africa not ‘hostage’ to disadvantageous global climate – Kganyago

By: Terence Creamer     20th October 2015 The global economy was currently not supportive of higher South African economic growth, but South African Reserve Bank (SARB) governor Lesetja Kganyago argued forcefully on Tuesday that this reality should not be used as an excuse for ignoring the ongoing domestic constraints to economic... 

Local IPP Aurora Power awarded R250m of solar projects in DoE’s Small Renewable Energy program.

12th October 2015 The minister of energy on Sunday announced the awarding of the 5.8MW Adams and 5.8MW Bellatrix solar projects which are the first Independent Power Producer projects in the DoE’s program that will be locally developed, designed, funded, constructed and operated. The projects are being sponsored... 

First ‘fully local’ solar PV projects selected under REIPPPP 

By: Natalie Greve     9th October 2015 The 5.8 MW Adams and 5.8 MW Bellatrix solar projects, in the Western Cape, have been selected under the Department of Energy’s (DoE’s) Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), becoming the first projects under the programme to be locally developed, designed,... 

Evraz Highveld creditors get set for Oct 13 business-rescue vote

By: Terence Creamer     9th October 2015 Evraz Highveld Steel and Vanadium creditors would, on Tuesday October 13, vote on a business rescue plan, which included a recommendation that International Resources Limited (IRL), of Hong Kong, be allowed to purchase the company. The vote was initially set for September 28, but was postponed... 

Highveld creditors seek more details on alternative offer as rescue vote is postponed 

By: Terence Creamer     28th September 2015 Creditors agreed unanimously on Monday to postpone, for two weeks, a vote on the business rescue plan developed for Evraz Highveld Steel and Vanadium, while raising questions about the preferred bidder’s commitment to South African suppliers and whether an alternative bid, which had been... 

Renewable Energy Independent Power Producer Procurement Programme – third window, South Africa

By: Sheila Barradas     25th September 2015 An update on the Renewable Energy Independent Power Producer Procurement Programme – third window. 

Robben Island’s renewables makeover part of bigger going-green strategy 

By: Anine Kilian     18th September 2015 To improve the sustainability of tourism in South Africa, the Department of Tourism has included renewable-energy technology in the retrofitting of key tourist attractions and State-owned destinations in the pilot phase of a Tourism Incentive Programme (TIP), which will be carried out over the... 

Robben Island’s renewables makeover part of bigger going-green strategy 

By: Anine Kilian     18th September 2015 To improve the sustainability of tourism in South Africa, the Department of Tourism has included renewable-energy technology in the retrofitting of key tourist attractions and State-owned destinations in the pilot phase of a Tourism Incentive Programme (TIP), which will be carried out over the... 

Sandton’s month-long road closures a necessary lesson – Tau 

By: Natalie Greve     17th September 2015 The EcoMobility World Festival 2015 may have raised the ire of workers in the Sandton central business district (CBD), in Johannesburg, but remains firmly defended by Johannesburg mayor Parks Tau, who described the initiative to journalists on Thursday as an event that will conscientise the... 

IDC sticks to R100bn, five-year loans target despite 2015 pull-back 

By: Terence Creamer     14th September 2015 The State-owned Industrial Development Corporation (IDC), which reported a fall in loan approvals and disbursements in 2015, has retained its five-year target of injecting R100-billion of development finance into the South African economy by 2020, despite weak market conditions. During 2015, the... 

Winning Highveld bidder to be named on Wednesday - Patel 

By: Terence Creamer     14th September 2015 The winning bidder for embattled steel producer Evraz Highveld Steel and Vanadium would be announced on Wednesday, September 16, Economic Development Minister Ebrahim Patel reported on Monday. Speaking in Johannesburg at the presentation of the Industrial Development Corporation’s (IDC’s) annual... 

R2bn Kouga wind farm officially opened 

By: Creamer Media Reporter      4th September 2015 The R2-billion Kouga wind farm, located at Oyster Bay in the Eastern Cape, was officially opened on Friday by Economic Development, Environmental Affairs and Tourism MEC Sakhumzi Somyo. The power plant, which entered commercial operations earlier this year, incorporates 32 Nordex turbines and is... 

DTI relaunches industrial innovation support programme

By: Megan van Wyngaardt     28th August 2015 Trade and Industry Minister Dr Rob Davies this week relaunched the Support Programme for Industrial Innovation (SPII), which assists enterprises through the promotion of technology development and the provision of financial assistance for the development of innovative products and processes.... 

More black entrepreneurs needed – Makhura

By: Sashnee Moodley     28th August 2015 Sector strategies to break the monopoly structured economy were being developed for Gauteng, said Premier David Makhura in Sandton last week. 

Makhura advocates for more black entrepreneurs in the economy

By: Sashnee Moodley     18th August 2015 Sector strategies to break the monopoly structured economy were being developed for Gauteng, said Premier David Makhura in Sandton on Monday. 

Domestic wind generators could be money-spinners 

By: Kim Cloete     14th August 2015 A South African entrepreneur has pioneered a wind-powered generator that operates as an independent mini power station for households and small businesses. The Psiclone wind generator, which had been rigorously tested in partnership with Fort Hare University’s Physics department, was launched at... 

‘Reasonable’ prospect of Evraz Highveld recovering from business rescue, say practitioners 

By: Natalie Greve     5th August 2015 Despite missing an initial three-month deadline to conclude the business rescue proceedings of Evraz Highveld Steel and Vanadium, the South African steelmaker’s appointed business rescue practitioners (BRPs) say there is a “reasonable prospect” that the company will be rescued in accordance with... 

Palabora operations hit by wave of protests 

By: Natasha Odendaal     4th August 2015 Limpopo-based Palabora Copper on Tuesday confirmed that operations at its copper mine, in Phalaborwa, had been halted since Friday night, as Ba-Phalaborwa community members embarked on violence and intimidation sparked by what the company claimed was propaganda. Corporate affairs manager Hulisani... 

‘Poor citizen’ AMSA promises to mend ways as it seeks support to save Vereeniging and company 

By: Terence Creamer     23rd July 2015 South Africa’s largest steel producer ArcelorMittal South Africa (AMSA) gave notice on Thursday that it was weighing the partial or full closure of its Vereeniging Works, in southern Gauteng, and would make a decision of the plant’s future by the end of August. At the same time, CEO Paul... 

Platinum bridal jewellery demand up in China, fuel cells powering blocks of flats

By: Martin Creamer     23rd July 2015 Platinum marketing money previously devoted largely to discounts and commissions is now being used to boost platinum jewellery, investment and fuel cell promotion, says Anglo American Platinum (Amplats) CEO Chris Griffith. Bridal platinum jewellery demand is growing in China, platinum demand... 

IDC puts biomass plants up for sale

By: Natasha Odendaal     21st July 2015 The Industrial Development Corporation (IDC) has put its two biomass pellet manufacturing plants up for sale. Potential buyers, who would be subject to a confidentiality agreement, were invited last week to submit their offers for the IDC’s 100 000 t/y Coega-based biomass plant and the 80 000 t/y... 

Rurulec makes interim payment to Ethos Energy under Ipsa deal

By: Natalie Greve     21st July 2015 After striking a deal to buy two Westinghouse Siemens gas turbines from South African independent power producer Ipsa for £16.1-million, Latin America-focused Rurulec has made an interim payment to Ipsa’s primary creditor, Ethos Energy, bringing the amount still owed to Ipsa under the deal to... 

IDC calls for ‘creative’ financing models to fund public infrastructure

By: Natalie Greve     17th July 2015 Governments can no longer solely rely on conventional investment mechanisms to fund their public infrastructure development, cautions Industrial Development Corporation (IDC) agro, infrastructure and new industries divisional executive Khumo Morolo, describing traditional methods of project... 

Debt issuance to remain robust in year ahead – SBSA

By: Megan van Wyngaardt     15th July 2015 With debt issuance volumes of R67.5-billion in the first half of this year, banking firm Standard Bank South Africa (SBSA) expects issuance to remain robust, with a forecast growth of 5.6% for the year ahead. SBSA debt primary markets head Zoya Sisulu noted, however, that the details, when broken... 

Private equity making its mark in SA – KPMG

By: Natasha Odendaal     15th July 2015 There were indications of private equity fund growth in South Africa as the asset class started making its mark and proving its worth for potential investors. Private equity funds still remained a small part of the world’s asset classes, accounting for only $3.5-trillion of the $164.1-trillion in... 

Alternative renewables funding to be considered as sector matures

By: Terence Creamer     13th July 2015 Alternative funding models could be expected to begin coming to the fore in South Africa’s renewable-energy sector as the market becomes more competitive and domestic development finance institutions (DFIs) begin scaling back their direct involvement in projects. Speaking to Spanish investors... 

Small business funder aims to lower failure risk by offering mentorship, management support

By: Zandile Mavuso     10th July 2015 Although the Department of Small Business Development (DSBD) aims to use small businesses and cooperatives as vehicles to redistribute South Africa’s wealth, access to funding for small and medium-sized enterprises (SMEs) remains a concern. To strengthen its hand, the Small Enterprise Finance... 

Sefa moves to engage township entrepreneurs

By: Zandile Mavuso     10th July 2015 As part of its initiative to provide management and financial support for young entrepreneurs, the Small Enterprise Finance Agency (Sefa) hosted a youth entrepreneur’s event in Soweto last month to address challenges faced by the youth in their businesses. 

Small business funder aims to lower failure risk by offering mentorship, management support

By: Zandile Mavuso     10th July 2015 Although the Department of Small Business Development (DSBD) aims to use small businesses and cooperatives as vehicles to redistribute South Africa’s wealth, access to funding for small and medium-sized enterprises (SMEs) remains a concern. 

Govt, private sector working constructively to tackle acid mine drainage in Wits basin 

By: Ilan Solomons     3rd July 2015 Although acid mine drainage (AMD) in the Witwatersrand basin is the result of a legacy of environmental mismanagement of water resources by mines and lax enforcement of regulations by government, these role-players are working to constructively address this problem, says Department of Water and... 

Advanced manufacturing can reindustrialise S Africa, says DST

By: Natalie Greve     29th June 2015 Advanced manufacturing was internationally regarded as critical to reversing the economically-stifling effects of increasing deindustrialisation and could prove to be the answer to South Africa’s stagnant growth rate, the Manufacturing Indaba heard on Friday. Government had long lamented the... 

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