• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 2 hours The United States produced more crude oil than any nation, at any time.
  • 22 hours China deletes leaked stats showing plunging birth rate for 2023
  • 5 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 5 days Bad news for e-cars keeps coming
China's Oil Demand Threatened by LNG Trucks

China's Oil Demand Threatened by LNG Trucks

The boom in LNG trucking…

U.S. Automakers Race to Offset the Rise in Copper Prices

U.S. Automakers Race to Offset the Rise in Copper Prices

High copper prices pose significant…

South Africa Looks to Create Office to Auction Grid Transmission Projects

The government-owned Development Bank of Southern Africa (DBSA) is in talks with South African ministries to set up an office to manage auctions of power transmission projects, a bank executive told Bloomberg in an interview published on Friday.   

The bank is discussing with government departments the setting up of the office that is expected to bring private funding to link up renewable energy sources to the transmission grid. This “needs to be signed off by the different parties within government,” Michael Hillary, the DBSA’s group executive for financing operations, told Bloomberg.

The DBSA is a government-owned development finance institution, established in 1983, with the mandate to promote economic growth and regional integration for sustainable development projects and programs across the African continent.

The bank has previously created the Independent Power Producer Office, which it handed over to South Africa’s Department of Mineral Resources and Energy. The Independent Power Producer Office has helped the development of utility-scale wind and solar power projects across South Africa.

Eskom, the state-owned utility of South Africa, is currently holding talks with the government on ways to attract public and private financing of the equivalent of $21 billion for a major expansion of the power grid to accommodate an expected rise in renewable energy, the company told Bloomberg last month.

Eskom has estimated that it needs $21 billion (390 billion South African rand) to fund its plan to build nearly 9,000 miles of new power lines over the next decade, which would be more than triple the miles of transmission lines it has installed in the past decade.  

Currently, coal is the major energy source for South Africa, accounting for around 80 percent of the country’s energy mix. The country is also the world’s fifth-largest coal exporter

Eskom plans to operate some coal-fired power plants for longer than initially envisaged to avoid making an already vulnerable grid more unreliable, the company’s CEO Dan Marokane said earlier this week.


By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News