Powerships could supply cheaper electricity to SA in two months - Patrick O'Driscoll

Loading player...
Loadshedding has returned for the first time since March this year to South Africa bringing an end to a period of stable power supply because of reduced demand during the Covid-19 lockdown. State utility, Eskom has told Reuters that it cannot say how long the new round of power cuts will last. But could the Department of Mineral Resources and Energy's plan to procure electricity from independent producers be a quicker solution to the Eskom problem?  One of the applications from an independent power supplier is from a power ship electricity supplier Karpowership. Spokesperson Patrick O'Driscoll tells BizNews that power ships could be in place on the South African coastline in months with cheaper electricity. Meanwhile Thomas Garner, the Chair of South African Independent Power Producers Association, has accused the government of dragging its feet on independent power suppliers and says Minister Gwede Mantashe appears to be anti-renewables. - Linda van Tilburg Learn more about your ad choices. Visit megaphone.fm/adchoices
16 Jul 2020 3AM English South Africa Investing · Business News

Other recent episodes

The BizNews Edge: African Bank's Billion-Rand Acquisition Trap

African Bank swung to a loss of nearly a billion rand after a four-year spree of buying and bolting together three banks to build a full-service lender, and the bad debt charge is still climbing. The contrast is brutal: a focused platinum-and-chrome miner, Tharisa, is printing cash with profit up…
25 Jun 7AM 9 min

The BizNews Edge: Nedbank, Grindrod and the coal stock no one was watching

Nedbank confirmed its guidance this morning, and its East Africa deal is weeks from closing - a transformation most investors are still underpricing. Grindrod's Port of Maputo posted extraordinary volumes, but the share may already be priced for perfection. A small coal miner no one follows just disclosed an 1,800%…
24 Jun 8AM 26 min