Star 2025-01-28

JUWI has built 20 solar PV and Battery Energy Storage Systems (BESS) projects globally JUWI Renewable Energies says that it will begin construction on three major private solar projects in 2025 with a capacity of 340 megawatts (MW), which will contribute around 5% to the country’s total solar photovoltaic (PV) capacity. These projects, with an investment of more than R6 billion, would serve notable businesses such as Glencore, Teraco, Sasol, and Air Liquide, and are expected to create more than 2 000 jobs during construction. According to JUWI, there will be a 120MW solar PV facility for Teraco Data Centres, Africa’s largest data centre company, supplying multiple locations via wheeling innovation from a generation site in the Free State. In addition, there will be a 120MW solar PV facility for…

With newly inaugurated US President Donald Trump set to implement his “drill, baby, drill” policy, his pushes to drop oil prices and the anticipated slowdown in economic growth across the world could well see oil prices dropping to the benefit of South Africa, a major oil importer. Last week, Trump told business leaders at the World Economic Forum (WEF) in Davos he wanted to lower global oil prices, interest rates and taxes, and warned they face tariffs if they make their products abroad. “I’ll demand that interest rates drop immediately. And likewise, they should be dropping all over the world. I’m also going to ask Saudi Arabia and Opec to bring down the cost of oil,” Trump said. “Right now the price is high enough that that [Russia-Ukraine] war will…

The fate of PetroSA’s controversial tender award to Russia-based Gazprombank, potentially worth more than R20 billion, to help restart the Mossel Bay gas-to-liquids refinery, hangs in the balance after a rival bidder filed a High Court case requesting that the award be set aside. Business Report had last week requested PetroSA for an update on the progress of this project because the transaction was controversial owing to the possibility of sanctions risk at the time of the tender award in November 2023. In November last year, the US said that Gazprombank had become a sanctioned company. These sanctions extend to other Western countries such as Australia and Canada. However, a PetroSA spokesperson said: “The processes for the awarding of RFP0001/2023 to Gazprombank South Africa are currently before a court of…

The Board of Healthcare Funders (BHF) announced on Monday that their application to the North Gauteng High Court will argue for allowing medical schemes to offer Low Cost Benefit Options (LCBOs). This case comes on the heels of a separate move by the Hospital Association of South Africa (HASA), which has decided to proceed with legal action against the National Health Insurance (NHI) Act, citing its current unsustainability. The push for affordable healthcare is not new in South Africa. It recalls findings from the 2019 Healthcare Market Inquiry (HMI) report by the Competition Commission, which illuminated the rising costs within the private healthcare market. The inquiry revealed that patients are often treated excessively, contributing to a phenomenon known as supply-induced demand, and identified regulatory decisions at national and provincial levels…

For many of us, 2024 ended with a familiar countdown, the pop of a champagne cork and a jolly festive party. A fortnight later, as South Africans dust off our work computers and try to recall our office passwords, we take some time to reflect. The year was a lot better for investors than we had initially anticipated - 2024 was a year when there were many reasons to be fearful, yet everything worked out. Heading into the new year, it does feel like things are upside down. Domestic politics are relatively calm, while the US is poised for a period of policy uncertainty as President Donald Trump seeks to shift the country's direction. SA is the low inflation jurisdiction, while the US sees inflation that remains higher than desired.…

On January 1, 2025, the Electricity Regulation Amendment Act 38 of 2024 (ERAA) came into effect, following extensive stakeholder engagement and multiple draft iterations. The ERAA aims to usher the South African electricity sector into an era of change, continuing the shift from Eskom's historically vertically integrated monopoly to the establishment of the Transmission System Operator (TSO) and the introduction of an open-market platform that enables the competitive trading of electricity. The government legislative team displayed a high degree of responsiveness to industry feedback, and as a result, this new law has been largely welcomed by stakeholders. This article provides a high-level outline of three key changes that everyone looking to participate in and capitalise on the South African electricity sector should know. It also flags some provisions of the…