South Africa received hundreds of responses to a call for 3GW of emergency power that it estimates could be brought online within two years.
Browsing: Gwede Mantashe
President Cyril Ramaphosa announced sweeping changes to the nation’s electricity industry to address energy shortages and reduce reliance on debt-stricken state power utility Eskom.
South African shares may have become too cheap for investors to ignore and Old Mutual Investment Group is among money managers seeing an increasing number of attractively valued shares.
The Democratic Alliance has lambasted a government proposal to create a second state-owned electricity generation company in South Africa, labelling the plan “utter madness”.
South Africa should establish a new entity that would generate electricity and reduce the nation’s reliance on state utility Eskom, mineral resources & energy minister Gwede Mantashe said.
The energy minister’s reluctance to fast-track renewable power projects could prolong the electricity shortages, which have caused the economy to stagnate and sapped investor confidence.
Government is reviving a so-called energy “war room” to tackle the nation’s electricity crisis, as it brought forward the date when the incoming CEO of the state power utility will start work.
For the second year in a row, Eskom management and key staff members will not take leave in the festive season as the power utility struggles to halt power outages.
In South Africa, solar and wind are in, and coal is gradually on the way out. That’s the key takeaway from the latest Integrated Resource Plan, which maps out the energy mix for the next decade.
As South Africa enters its third day of blackouts, investors are still awaiting word from President Cyril Ramaphosa’s administration on how it’s going to fix the ailing state power company.