SA mining company Northam signs 20-year power deal

• Northam joins other mining companies like Gold Fields and Sibanye-Stillwater that have moved away from the Eskom grid.

• The signing of the PPA comes just a few days after South Africa announced the return of load shedding. This is expected to encourage more self-generation.

• Our take: Heavy industrial customers will suffer the most from load shedding, making self-generation a crucial avenue for cutting energy costs… Read more (2 min)

Ugandan bank signs deal to finance renewable energy

• The upfront cost of renewable energy technologies is a barrier to their widespread adoption. Many individuals and businesses struggle to raise the capital required to fund these projects. 

• However, banks across Africa are now investing in renewable energy at both residential and commercial levels. Standard Chartered recently pledged to allocate $300 billion for financing renewable energy projects.

• Our take: Banks are finally seeing the business sense in renewable energy. While there are still risks, the long-term returns and the growing demand make it a smart investment… Read more (2 min)

Zimbabwe mining firm to generate 150 MW from solar

• The declining cost of solar and wind energy is making renewables a financially viable alternative for energy-intensive mining operations, especially in locations with unreliable grid access in Africa.

• Moreover, investors and consumers are increasingly prioritising ESG (Environmental, Social, and Governance) criteria, forcing mining companies to demonstrate tangible commitments to decarbonisation and sustainable practices.

• Our take: The cost of inaction on renewables has now surpassed the cost of action… Read more (2 min)

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