Nedbank funding about-face puts future of two new South Africa coal plants in doubt

first_imgNedbank funding about-face puts future of two new South Africa coal plants in doubt FacebookTwitterLinkedInEmailPrint分享Fin24:This decision fits with the banking group’s commitment to “green” funding, responsible lending and supporting sustainability initiatives. The bank says its initial proposal for funding the construction of the Thabametsi and Khanyisa independent power producers (IPPs) has lapsed and will not be renewed.This follows a corporate policy announced in early 2018 that the bank would no longer fund the construction of any new coal-fired power plants beyond its existing commitments to fund Thabametsi and Khanyisa, which were included as part of the new coal IPP programme in the South African Department of Energy’s draft integrated resource plan for electricity, Draft IRP 2018.The proposed Thabametsi 557 MW coal-fired power station, which would be largely owned by Japan’s Marubeni and South Korea’s Kepco, was planned to be built near Lephalale in Limpopo, while the Khanyisa 306 MW power station was to be sited near eMalahleni in Mpumalanga. The biggest shareholder of Khanyisa would be Saudi-owned Acwa Power.Nedbank says that it would prefer to offer financing for projects in energy efficiency and renewable energy, such as landfill gas, solar, hydro and wind projects. The bank says in its core business of lending and investing, it has a crucial role to play in transforming the economy and addressing climate change and that it seeks to “use [its] financial expertise to do good for individuals, businesses and society.”Nedbank’s announcement follows reports in September 2018 of Standard Bank’s withdrawal of financing the construction of coal-fired power. Currently, it appears that FirstRand, ABSA and the Development Bank of South Africa (DBSA) are still willing to offer funding for the Thabametsi and Khanyisa projects, but this may change. Nedbank and Standard Bank have followed the global trend of financial institutions refusing to fund the construction new coal-fired power plants.Funding is not the only challenge faced by the two new coal IPPs. Credible high court challenges (reviews of the environmental authorisations) are underway, and atmospheric emission licenses, water-use licenses and generation licenses for both projects are either outstanding or being challenged.More: Nedbank withdraws funding for new coal IPPslast_img read more

Funeral services today for John Deery Sr.

first_imgCEDAR FALLS, Iowa – Funeral services for John Deery Sr. are today (Monday) at 11 a.m. at St. Patrick Catholic Church in Cedar Falls.Deery, 88, died Wednesday, July 18 at the age of 88. He founded the Deery Brothers Automotive Group after serving in the United States Marine Corps.Visitation is continued one hour before services at the church. Military honors will be conducted by Cedar Falls AMVETS Post 49 and burial will be at Fairview Cemetery.Survivors include his wife Marlene; his two sons, John (Jodi) Deery Jr. and Dan (Julie) Deery, both of Cedar Falls; nine grandchildren and 11 great-grandchildren; his sister, Edith (Don) Sankey of Rockford, Ill.; a nephew, Brad (Jeanne) Deery of Burlington; and many other nieces and nephews.Memorials may be directed to the church, Cedar Valley Hospice or the Western Home Communities.last_img read more

EPA National Survey to Catalog ODS Alternatives

first_imgThe National Ozone Unit of the Environment Protection Agency (EPA) has ended a one day stakeholders’ workshop on the Initiation of a Nationwide Ozone Depleting Substances (ODS) Alternatives Survey hosted at a resort in Monrovia.EPA Deputy Executive Director (DED), Urias Goll, at the opening session, said Liberia through the agency, has significantly contributed to the global success of the Vienna Convention on the protection of the Ozone Layer.The Vienna Convention up to date is considered as the most successful environmental agreement in the world.Notwithstanding this success, Goll told over 25 participants, “collective actions were still needed to find a lasting solution to global environmental problems ahead of us.” “It is in this regard that we have come to initiate another phase of the Ozone project, which is to conduct a survey of Ozone Depleting Substances (ODS) alternatives at the national level,” Goll emphasized.The basic concept of the ODS Alternatives Survey is to assist developing countries like Liberia to better understand their consumption trends for non-ODS alternatives and their distribution by sector and subsector. It is also meant to create inventories on ODS Alternatives which will provide Liberia with an overview of its national market where ODS Alternatives have been and will be phased in, while taking into consideration existing technologies. Finally, the survey will estimate the amount of each ODS alternative currently used in the country, identify alternatives that could be potentially used in the future as replacement and forecast the amount of each of the ODS alternatives currently used and potentially to be used in thecountry.Goll called on the participants to accord the data collectors their cooperation and give them the needed information in the next few months to come if Liberia is to succeed in conducting the national survey.Earlier, according to an EPA release, the National Focal Person of the Ozone Unit at the EPA, Sete F. Marshall, said the success of the project over the years can be attributed to cooperation, participation and involvement of all relevant stakeholders concerned with the project.Mr. Marshall noted that the pending survey is an opportunity for Liberia to move forward in cataloging the necessary information regarding ODS and ODS Alternatives for the good of its citizenry. The survey will end in September of this year, and its results will be validated by stakeholders before submission.Participants were drawn from the private sector and relevant line ministries and agencies, to include the refrigeration union of Liberia, importers, Liberia Chambers of Commerce, Monrovia Vocational Training Center, Liberia Revenue Authority, Liberia Agricultural Company, LIPFOCO among others.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more