Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
More incentives for SA to go renewables and storage
https://www.news24.com/fin24/economy/green-energy-plan-could-save-south-africa-r100-billion-report-20210928
South Africa could save R100 billion by accelerating the closing of coal-fired power plants in return for cheap loans to fund a transition to cleaner forms of electricity, a proposal developed by Meridian Economics shows.
The country needs to cut emissions to meet its Paris Agreement commitments to counter climate change. State power utility Eskom, which produces more than 90% of the nation's power, mainly from coal, has little scope to fund green energy projects because it's buried in debt and the government's own finances are overstretched.
Meridian, a Cape Town-based economic consultancy, estimates South Africa needs to build as much as 6 000 megawatts of renewable projects annually to meet its emissions targets. That would require an investment of about R450 billion over the next decade, while another R200 billion would have to be spent on transmission lines and distribution grids.
Meridian's so-called Just Transition Transaction, which has been in the works for several years, envisions the government securing a concessional, debt-financing package to help fund the shift away from coal. The money could be raised in the capital markets and from development finance institutions and be guaranteed by developed nations, it said in a report released on Tuesday.
Cheap loans
The proposal envisions a financing facility being set up and overseen by a multilateral climate-finance institution, such as the Climate Investment Funds, and it providing South Africa with $16 billion in loans over five years at an annual interest rate of 5.5%. The rate could be cut to 1.5% if the government sticks to its commitments to cut its emissions of carbon, based on an offset price of $7 a ton - a concession that could deliver savings of R100 billion over 25 years calculated on a net-present-value basis, it said.
Meridian is headed by Grove Steyn, who sits on President Cyril Ramaphosa's Economic Advisory Council. Its proposal has been discussed with South Africa's government and potential backers.
"We are at a relatively early stage; people are still getting their heads around the options," Steyn told reporters in an online briefing. "Where this is going to end, we can't say. People seem to take these ideas very seriously.'
South African Deputy Finance Minister David Masondo has floated a separate plan that would see creditors forgive some of the nation's sovereign debt in exchange from it committing to more ambitious climate goals. Eskom has proposed its own transition plan, which would see it raise loans from development finance institutions to fund green energy projects, while accelerating the closure of coal-fired plants.
Repost before it slides out of view....
https://www.linkedin.com/in/jerry-qiu-42263a57/detail/recent-activity/
Good example of post to telegram group that should also be here.
https://www.energy-storage.news/australias-electricity-market-rule-change-that-will-be-massive-for-batteries-is-imminent/
Excerpt...
A boost for investment in battery energy storage in much of Australia is strongly expected to come from 1 October onwards, when new National Electricity Market (NEM) rules come into effect.
The change primarily concerns the introduction of Five-Minute Settlement (5MS) of wholesale electricity market prices in the NEM, replacing the 30-minute wholesale electricity spot market settlement period rule which has been in place since 1998.
The Australian Energy Market Operator (AEMO) had determined in 2017 that the rule change was coming. It had been scheduled for introduction in mid-2020, but the COVID-19 pandemic caused AEMO to delay it until this October.
In a statement at the beginning of this month, the Operator and then later the regulatory Australian Energy Market Commission (AEMC) confirmed that 5MS was on-track to be introduced as rescheduled.
AEMC also announced last week that it has drafted rules that will govern payment and incentive mechanisms for frequency response to keep the electricity grid stable and functioning properly.
5MS is set to be “massive” for battery storage, Energy-Storage.news heard earlier this year in an interview with Lillian Patterson, policy and regulations expert at Australian national trade group, the Clean Energy Council.
The NEM has five minute electricity dispatch markets in Australia already, but the price associated from one window to the next is averaged out over 30 minutes. So if a battery asset’s stored energy is dispatched into the market over a five-minute period when the price is high, but the price then drops, the battery asset operator effectively gets a lower payment than the power was worth at the time.
“So it doesn’t incentivise fast technologies like [battery storage] that tries to come in, in those short periods of time, when they could be needed, because they would not get that high price. It could be much, much lower. 5MS will move it to not be this average over the 30 minutes, it will mean that if you bid during that five minutes, you will get dispatched at that price, you’ll be settled at the price in that five minute period,” Patterson said.
“So it’s really providing another incentive for those fast technologies to come in as needed for short periods of time. That can be massive.”
Very much agree mogwhy. The telegram group serves a valid purpose and has a lot of good researchers there but the audience is too closed. It would be much better for all if people posted their research in both places to cover a wider audience, specially those that are not already invested. Being in both works well.
2 of 'em. Well well.
2021-09-17 11:26:42.660 15:35:23 (GBX) 11.5 2,000,000 230,000.0 Off-Book AIMX P+LRGS AIMX
2021-09-17 11:26:16.960 --:--:-- (GBX) 10.815 229 24.77 Off-Book AIMX P AIMX
2021-09-17 11:24:15.323 --:--:-- (GBX) 11.5 2,000,000 230,000.0 Off-Book AIMX P AIMX
2021-09-17 11:23:00.253 --:--:-- (GBX) 10.85 38,334 4,159.24 Off-Book AIMX P AIMX
DBB, Related top youtube recording of the whole panel discussion here https://www.youtube.com/watch?v=jzjIyLTsuQg (picked up both from telegram group)
Long but worth listening to, specially Joubert as well as Mikhail and Strydom times below.
Mikhail starts @ 28:50
https://youtu.be/jzjIyLTsuQg?t=1730
Bertie Strydom @ 48:00
https://youtu.be/jzjIyLTsuQg?t=2880
https://www.engineeringnews.co.za/article/south-africas-battery-energy-storage-market-poised-for-growth-2021-09-16/rep_id:4136
Excerpt....
"Speaking on the same platform, Bushveld Energy CEO Mikhail Nikomarov expressed optimism about the domestic market outlook, as well as the prospects for localising battery storage systems.
“Last year, the sixth largest battery market for residential batteries was South Africa and on the utility side, Eskom has got a large programme and, in the risk-mitigation round, everything that was not a [power] ship had a large battery tied to it and we will probably see a lot more in future,” Nikomarov highlighted, stressing that “batteries are already here” and the outlook is even more positive.
He also argued that South Africa could not only localise for its domestic needs but could also become an exporter of battery storage solutions in future.
“I know this because we are doing it ourselves with vanadium: yes, we’ve got the vanadium in the ground, but we can also make the electrolyte and we believe we can do the batteries here ourselves."
Acacia and Orange Trust no change. Nominee accounts +/- a few shares.
https://www.bushveldminerals.com/capital-structure-shareholder-information/
More coverage
https://www.argusmedia.com/en/news/2253359-chinese-firms-to-promote-vanadium-energy-storage?backToResults=true
Nice find LB21, Looks like the Chinese are getting very serious about VRFBs. 2nd last para looks promising.
Outlook
In order to achieve carbon peak and carbon neutrality, and strive to build a clean, low-carbon, safe and efficient energy system, energy storage has become an important technology and basic equipment to support the new power system. It is of great significance to promote the high-quality development of energy and support the realization of the goal of addressing climate change.
Among many energy storage technologies, the all-vanadium redox flow energy storage battery is due to its outstanding high safety, long service life, recyclability of vanadium electrolyte, zero attenuation of the battery, fast response speed and deep rechargeability. With the rapid development of advantages such as energy release, it is expected to become the preferred technology for safe, long-term and large-scale energy storage.
The signing of this strategic cooperation agreement will mean that Panzhihua Iron and Steel's vanadium and titanium (vanadium resources)-Dalian Borong (vanadium electrolyte)-Rongke Energy Storage (vanadium battery) will achieve the integrated development of the industrial chain. Through the combination of resources, technology and application, a new pattern for the development of all-vanadium redox flow energy storage batteries will be constructed and the rapid development of vanadium battery industrialization will be promoted.