Stefanutti Stocks secures additional short-term funding

Construction and engineering company Stefanutti Stocks has secured additional short-term funding of R227.5-million, the JSE-listed firm said on Thursday, noting that it remained in discussions with lenders to secure additional tranches of funding.

The latest funding from its primary banker and guarantee providers was the third tranche of funding secured since mid-year. In July, it received the first tranche of R120-million as specific ring-fenced project funding and in November secured R391-million in a second tranche.

Powered by WPeMatico

EPP board nominates Tomasz Trzósło to succeed Hadley Dean as CEO

The board of directors of property company EPP has nominated Tomasz Trzósło for appointment as CEO to succeed Hadley Dean, whose term of office is due to expire. Trzósło is expected to assume his role in May 2020, but it is subject to approval by the general meeting of shareholders.

Powered by WPeMatico

New Oxford-Glenhove buildings aim for 4-star green ratings

The two newest buildings to be built on the intersection of Oxford and Glenhove roads – OxGlen Block 3 and Block 4 – will aim to achieve 4-Star Green Star SA Office Design rating from the Green Building Council South Africa (GBCSA), engineering consultancy Solid Green Consulting senior sustainable building consultant Annelide Sherratt said this week. The precinct is home to Coca-Cola and Sappi’s South African headquarters. The newest buildings have incorporated many of these buildings’ best performing features, as well as some of their architectural details.

Powered by WPeMatico

AfDB, African Union to develop electricity master plan for the continent

Development finance institution, the African Development Bank (AfDB) and the African Union’s Development Agency (AUDA-NEPAD) plan to develop a blueprint for a pan-continental electricity network and market, the organisations have said. “The Continental Power System Master Plan will ensure that competitive electricity markets are developed at regional and continental levels, creating unique opportunities to optimally utilise Africa’s vast energy resources for the benefit of Africa,” senior energy adviser to AUDA-NEPAD’s CEO, Professor Mosad Elmissiry said in a statement issued this week.

Powered by WPeMatico

Renewable-energy projects well under way

Construction on several Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) fourth bid window projects are well under way. The REIPPPP fourth window bids include 12 wind farms, 12 solar photovoltaic (PV) projects, a biomass project, a mini-hydro project and a concentrated solar power project.

Powered by WPeMatico

Success of renewables programme continues

Over the past eight years, the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) has attracted about R209.4-billion in committed private-sector investment, with the successful fourth window bids being valued at about R56-billion. South African companies, such as financial institution Old Mutual, diversified investor and services provider Phakwe, energy developers Red Cap and Pele Green, among others, account for the majority of private investors in the REIPPPP.

Powered by WPeMatico

Additional renewable energy development zones proposed

The second phase of the Strategic Environmental Assessment for wind and solar photovoltaic (PV) energy in South Africa proposes three additional renewable energy development zones for wind and solar PV energy projects. The renewable energy development zones support the responsible implementation of the Integrated Resource Plan (IRP 2019) that was gazetted by Mineral Resources and Energy Minister Gwede Mantashe in October.

Powered by WPeMatico

Maintenance work on tunnel completed

The Department of Water and Sanitation (DWS) has indicated that the inspection and maintenance work on the Lesotho Highlands Water Project (LHWP) tunnel – which was closed on October 1 and was scheduled to open November 30 – was completed as planned. The recharge of the tunnel started on November 20, and was expected to see water flow through the tunnel into the Integrated Vaal River System (IVRS) and related infrastructure at the beginning of December.

Powered by WPeMatico

Water project underway and making progress

Last month, the official ground-breaking function for Phase II of the Lesotho Highlands Water Project (LHWP) took place and was attended by Kingdom of Lesotho Minister of Water Samonyane Ntsekele and South Africa Human Settlements, Water and Sanitation Minister Lindiwe Sisulu. “Implementing Phase II of LHWP is ‘maths and music’,” says Lesotho Highlands Development Authority (LHDA) CE Tente Tente.

Powered by WPeMatico

Growthpoint, Investec venture buys RMB Westport portfolio

Real estate investment trust (Reit) Growthpoint Investec African Properties (Giap) has successfully acquired the RMB Westport Real Estate Development Fund.

The entity houses the assets developed and owned by Reit RMB Westport’s inaugural property development fund.

Powered by WPeMatico