Sboll is Your Go-to Source for the Latest Finance News, Covering Markets, Banking, Investments, Economy and Stocks.
⎯ 《 Sboll • Com 》

Eskom Latest: Utility ‘Confident’ Nuclear Unit Fixed by November

2023-08-11 16:19
South Africa’s Eskom Holdings SOC Ltd. expects to finish maintenance on the first of two units at its
Eskom Latest: Utility ‘Confident’ Nuclear Unit Fixed by November

South Africa’s Eskom Holdings SOC Ltd. expects to finish maintenance on the first of two units at its 1,940-megawatt Koeberg nuclear plant in November after delays doubled the time it’s taking to complete the work.

The steam generator replacement on unit one was scheduled to be finished in early June, but unanticipated logistical obstacles along with issues integrating a local workforce slowed the timeline, Keith Featherstone, Eskom’s chief nuclear officer, said Thursday in an online briefing.

The capacity of each of the reactors represents almost a single stage of the power cuts that Eskom has implemented due to unreliable generation stations, blanketing the nation with rolling blackouts nearly every day.

Maintenance on the second unit will commence days after the first is finished by Nov. 3, he said. “We can say with confidence the unit will be back.”

South Africa Introduces Energy Loans for Households (Aug. 8, 6:14 p.m.)

South Africa introduced guaranteed loans for small businesses and households to buy rooftop solar panels as part of efforts to alleviate the impact of unreliable power supply.

Loans will also be made available to businesses in the rooftop solar supply chain and energy service companies, which provide leasing, instalment sale, and power purchase contracts to small businesses and households, Treasury said in an emailed statement.

The Energy Bounce Back Loan Guarantee Scheme aims to generate 1,000 megawatts in additional generation capacity and facilitate resilience to loadshedding, the local term for power cuts, for micro and informal businesses, Treasury said.

Read More: S. Africa Starts Energy Loan Guarantee Program for Small Firms

South Africa’s $8.5 Billion Climate Plan Sees Further Delays (Aug. 8, 2:24 p.m.)

South Africa’s government will need another two to three months to complete an energy transition implementation plan, further delaying the flow of funds from an $8.5 billion climate finance agreement with some of the world’s richest countries.

More work needs to be done on how to re-skill workers from coal-dependent communities as coal-fired plants gradually close down, said Joanne Yawitch, head of the project management unit for the pact within the South African presidency.

Read More: South Africa’s $8.5 Billion Climate Plan Sees Further Delays

--With assistance from Antony Sguazzin, Amogelang Mbatha, Loni Prinsloo, Paul Burkhardt and Rene Vollgraaff.