Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
7 Dec 2022
Pivot Power announces planning approval for two new battery storage sites in Luton and Cornwall to supercharge a smarter energy grid.
https://www.edf-re.uk/media-centre/pivot-power-announces-planning-approval-for-two-new-battery-storage-sites-in-luton-and-cornwall-to-supercharge-a-smarter-energy-grid/
Technology group Wärtsilä Energy has signed an additional contract with EDF Renewables UK for a 50MW/100MWh lithium-ion energy storage facility in Sundon, Bedfordshire.
https://www.solarpowerportal.co.uk/news/edf_renewables_and_waertsilae_announce_plans_for_energy_superhub_battery_sy
TUE, DEC 6 2022
“Renewables [will] become the largest source of global electricity generation by early 2025, surpassing coal,” the IEA said in its Renewables 2022 report.
The analysis comes at a time of huge disruption within global energy markets following Russia’s invasion of Ukraine in February.
IEA chief Fatih Birol said the global energy crisis had kicked renewables “into an extraordinary new phase of even faster growth as countries seek to capitalise on their energy security benefits.”
https://www.cnbc.com/2022/12/06/renewables-to-be-main-source-of-electricity-generation-by-2025-iea.html?utm_medium=email
Sunday 4 December 2022
South African President Cyril Ramaphosa will not resign and will seek a second term as leader of the ruling African National Congress (ANC), his office has said.
The head of state, who was recently in the UK on a state visit, has come under pressure to quit over accusations he stashed millions of dollars in sofas at his private game farm and then covered up its theft.
An independent parliamentary inquiry found Mr Ramaphosa may have breached anti-corruption laws.
But Mr Ramaphosa's spokesman insisted he would not step down, claiming support from allies.
Vincent Magwenya said: "President Ramaphosa is not resigning based on a flawed report, neither is he stepping aside.
"The president has taken to heart the unequivocal message coming from the branches of the governing party who have nominated him to avail himself for a second term of the leadership of the ANC."
He added: "It may be in the long-term interest and sustainability of our constitutional democracy, well beyond the Ramaphosa presidency, that such a clearly flawed report is challenged."
The ANC's national executive committee, which has the power to force the president to resign, is due to meet on Monday to decide the 70-year-old's future.
The scandal, dubbed "Farmgate" by South African media, surfaced in June when the country's former intelligence chief, Arthur Fraser, alleged the president had concealed the theft of more than $4m (£3.2m) from his ranch in 2020.
Mr Ramaphosa acknowledged the money had been stolen, but disputed the amount and said it was $580,000 (£472,000) and had come from the sale of buffalo.
But the report by the independent parliamentary panel questioned why the animals remained at the farm more than two years later.
South Africa's parliament is expected to debate the findings on Tuesday and vote on whether to trigger impeachment proceedings.
Ramaphosa to waive 100MW embedded license threshold entirely - if he stays as president.
South Africa’s President, Cyril Ramaphosa , has confirmed that the 100 MW licensing threshold for embedded generation projects was in the process of being lifted entirely.
He also confirmed that after increasing the license waiver threshold to from 1MW to 100MW in August 2021, a vibrant market was created resulting in a pipeline of private embedded generation projects with a combined capacity of around 9000MW.
https://www.greenbuildingafrica.co.za/south-africa-to-waive-100mw-embedded-generation-license-threshold-entirely/
The ANC NEC meeting which was supposed to discuss the future of party President Cyril Ramaphosa has been adjourned after brief talks around the Phala Phala saga and is expected to reconvene on Sunday.
Ramaphosa did not attend this afternoon’s NEC meeting at NASREC, south of Johannesburg, as the party’s top leadership discussed matters involving him.
There have been calls from some quarters for the president to step down following the release of the report by the expert panel on the Phala Phala farm matter.
The report found that the President may have violated his oath of office.
ANC National Chairperson Gwede Mantashe, who was attending the NEC meeting, says the country will be plunged into chaos should the President resign.
https://www.sabcnews.com/sabcnews/anc-nec-meeting-adjourned-expected-to-reconvene-on-sunday/
Friday, 02 Dec 2022
PRETORIA-(MaraviPost)-There are some confirmed reports circulating that South African President Cyril Ramaphosa will resign as state President in the next couple of hours.
The reports are further revealing that Ramaphosa is also expected to resign as ANC leader and will withdraw from contesting the elective conference at Nasrec.
This comes after a Section 89 panel of the country found Ramaphosa may have contravened the Constitution and anti-corruption laws with his dealings at his Phala Phala farm .
” Ramaphosa is said to have lost the political support of the ANC and is “very likely” to announce his resignation as head of state in the next few hours.
“He will also resign as president of the ANC and will pull out of the race to be re-elected in just over two weeks’ time at Nasrec,” reports one of SA media houses.
According to the country’s, Constitution, this means that his Deputy President David Mabuza, a former premier of Mpumalanga, will step in as acting president until Parliament votes for a new president.
President is being accused of covering up a US$4m (£3.3m) theft from his farm in 2020, including kidnapping and bribing the burglars into silence.
A three-volume report from an independent panel has also found that the president abused his position and may have broken an anti-corruption law.
Meanwhile, Ramaphosa is denying any wrongdoing, saying the said money was from selling buffalo.
https://www.maravipost.com/sa-president-cyril-ramaphosa-poised-to-resign/
December 1, 2022
Panel finds president may have committed misconduct
Ramaphosa has denied any wrongdoing
ANC executive to meet Friday to discuss findings
Rand, bonds slide on speculation Ramaphosa may go
CAPE TOWN, Dec 1 (Reuters) - Cyril Ramaphosa's future as South African president hung in the balance on Thursday, as his office said he was exploring options after a report found evidence he may have committed misconduct over a stash of cash stolen from his game farm.
The report by a panel of experts appointed by the speaker of parliament centred on allegations that thieves had found millions of dollars of cash stuffed into furniture in the millionaire president's Phala Phala game farm in 2020 and taken it, a theft which only came to light in June.
The theft has raised questions about how Ramaphosa, who came to power on the promise to fight graft, acquired the money and whether he declared it.
The president has said a much smaller amount of money - the proceeds of game sales - was taken and that he reported the crime when he heard about it. He has denied any wrongdoing and has not been charged with any crimes.
His spokesman said Ramaphosa had "all options on the table" and was still consulting about the report's recommendations. He apologised for earlier comments that suggested Ramaphosa might make a statement on Thursday.
Latest Updates
South Africa's ruling party to decide Ramaphosa's fate over 'Farmgate' scandal
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Congolese army says rebels massacred 50 civilians in eastern town
South Africa's Ramaphosa has all options over panel report - spokesman
The rand fell more than 4% against the dollar before paring losses, and South Africa's sovereign dollar bonds dropped sharply on speculation Ramaphosa would leave his post.
The country's biggest opposition party, the Democratic Alliance, has called for an early election and the report has plunged the governing African National Congress (ANC) into crisis.
It also threatens Ramaphosa's efforts to rekindle investor confidence in Africa's most industrialised economy, after a decade of corruption scandals under former president Jacob Zuma.
The ANC said its executive committee would meet to discuss the panel report on Friday morning, delaying an earlier plan to meet on Thursday.
South Africa's foreign minister Naledi Pandor called the panel's report "a very troubling moment" in an interview at the Reuters NEXT conference, and two cabinet ministers called for Ramaphosa to resign
https://www.reuters.com/world/africa/safricas-ramaphosa-delays-parliamentary-appearance-after-panel-report-2022-12-01/H
When they get some kind of contract for the supply of electrolyte from someone in the energy storage industry after the electrolyte produced from ELZ plant has been fully validated. Expected by end of H1 2023.
@ TTP. More on that subject.
Could Australia lead the charge for Vanadium Redox Flow Batteries?
Enerox (CellCube) and North Harbour Clean Energy are considering building a VRFB manufacturing plant in Australia.
Blue View
Last week, the two entities signed an agreement to build an assembly and manufacturing line in Eastern Australia to meet GWh demand for long-duration energy storage in the National Electricity Market (NEM).
The first project executed by the partnership will be developing the continent’s largest VRFB, which generates 4MW-16MWh based on CellCube’s proprietary technology. CellCube and NHCE will also conduct a feasibility study and work towards a final investment decision on a 50:50 joint venture to manufacture VRFBs in Australia.
NHCE and CellCube will collectively review and select the best site to deliver an initial annual production capacity of at least 40MW/160MWh, with a target of 1,000MW/8,000MWh per year.
This represents serious scale. For reference, the world’s largest installation to date is the 200MW/800MWh installation in Dalian, China, developed by Rongke Power. That one installation contains an estimated 3,600t of vanadium contained in electrolyte. As such, 8,000 MWh of annual capacity represents 36,000t of vanadium – that’s one-third of the size of today’s entire vanadium market.
Critically, the partners did not suggest a timeframe for reaching such a large capacity and have set out an intent to start small (160MWh requires a more modest 720tpy of vanadium in electrolyte).
Project Blue has recently revised its outlook for VRFBs and remains positive about the likelihood of the technology’s widespread commercialisation. By 2050, the VRFB market accounts for ~30% of total vanadium demand in our base case. This new demand will require electrolyte from new projects, most of them unknown at this stage. But critically, vanadium feedstock will also be required, and this cannot be “turned on” at scale overnight.
Https://theprojectbluegroup.com/news-details/could-australia-lead-the-charge-for-vanadium-redox-flow-batteries
Also … The Australian Vanadium Project
The Australian Vanadium Project is one of the most advanced vanadium projects currently being developed in the world. It was awarded Federal Major Project Status by the Australian Government in September 2019 in recognition of its national strategic significance and State Lead Agency Status by the Western Australian Government in April 2020 due to its importance as a battery and critical metal project…….
https://www.australianvanadium.com.au/our-assets/the-australian-vanadium-project/
And….
Australian Vanadium (ASX:AVL) awarded $49m federal grant to help build supply chain….
https://themarketherald.com.au/australian-vanadium-asxavl-awarded-49m-federal-grant-to-help-build-supply-chain-2022-03-16/
The most important component in the BE spin off and the MUST RTO story is the electrolyte … BM get and retain ownership of the manufacturing and sale of it - to whoever and whatever small, medium and large storage energy customers who want it - and wherever they may be.
@fara.. yep, presumably the intention to ‘migrate’ the chemical plant ‘both in operation and ownership’ prior to the spin off is still part of the equation. That keeps FM in direct control of the most important component … with this controlling interest manoeuvre also retaining the whole vertically integrated model. Also going to include ‘lock in and partnership’ clauses ‘to be announced in the MUST prospectus’. Now we gotta wait for that to happen!
Such as? He’s had no products to sell.
BE don’t make batteries and the electrolyte commissioning, testing and validation processes to certify the product from the ELZ plant is insurable to last for 20+ years, won’t be completed til sometime next year. You can’t sell what you’ve never had, and what is more no-ones gonna sign any contracts and commit to major expenditure on buying an un-validated product that you don’t yet produce!
RBC have only now initiated coverage.
As a acknowledge major specialist in the field, they were appointed as a joint house broker in order to arrange the BE spin off, as such, they undoubtedly know far more about what the proposed new structure is going to look like - and their main remit will to arrange for new institutional investors to buy into it.
Although the published 600p target might seem a huge mistake, given what they undoubted know as ‘insiders’ - it ain’t necessarily so.
Also notice also the sudden movements in the share market and increase in buying volumes since target price came out.
The timing of this could well be indicative that new news about the spin off is about to break.
Nov 19, 2022
According to the Minerals Council South Africa, their members have planned more than 6,500MW of embedded energy projects in the pipeline, forming the bulk of the more than 8,000MW of energy projects the private sector has indicated to Nersa it wants to develop.
The 89 projects by 29 mining companies represent more than R100-billion.
A point in case would be Palabora Mining Company, which has contracted Mzansi Energy Consortium to develop a 132MWp solar PV plant and battery energy storage system capable of storing 310MWh of electricity.
The Marula Green Power Plant is expected to be rolled out over two stages. The first stage is construction, with the second stage being operation and maintenance. Commissioning should reduce load-reduction-driven power cuts for PMC and support applications like energy arbitrage and demand savings.
The second parallel phase is the construction of the 132MWp solar plant and transmission lines to PMC, which will be commissioned in the fourth quarter of 2024. The Marula Green Power Plant will be funded through a limited recourse project finance structure with zero cost to the mine and is expected to reach a financial close in the second quarter of 2023.
Find out more about the nexus of power and mining …………..
https://www.esi-africa.com/industry-sectors/future-energy/procuring-energy-for-your-mine-is-a-process/
Will … “if it is too "pure" the commercial competitiveness goes out the window”.
That depends on who can produce ‘pure purity’ cheaper than the competition. Who dares wins … and for SA and the rest of the over 50 countries on the African continent BMN are obviously in the prime position as the VRFB mini- grid market becomes more established …. so nothing to stop BMN setting their own ‘in house’ electrolyte price and also eventually have a separately quoted African market V price - to go along with the USA, European and China market quoted prices. Could eventually lead to the establishment of a proper futures market for V getting off the ground, which, imo, would provide stability for everyone in the industry as VRFB’s start to disrupt the current litho based establishment in the ROW.
Electrolyte produced directly from tailings (AMV) will, I believe, be the next downward driver of electrolyte production costs, interestingly they showed a AMV flow diagram yesterday, but noticeably, no comments, but if that method can satisfy the purity needs in the commercial volumes required - and vastly reduced cost of other methods of production that it’s being touted to do, then who dares will certainly win - Imo!
You might find this old article from my notes by TP interesting, it showcases the purity issues. Presumably BMN have no probs producing to the required standards.
www.://usvanadium.com/u-s-vanadium-successfully-recycles-electrolyte-from-vanadium-redox-flow-batteries-at-a-97-recovery-rate/