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The Minister of Energy, Ms Mmamoloko Kubayi has not suspended the Central Energy Fund Board Members as per reports.

Media statement for immediate release

 

The Minister of Energy, Ms Mmamoloko Kubayi has not suspended the Central Energy Fund Board Members as per reports.

The Minister of Energy, Ms Mmamoloko Kubayi has not suspended the Board of Directors of Central Energy Fund (CEF) as purported by the media. The Minister has however given the board members letters on the morning of the 26th of July 2017 requesting an explanation on concerns.

It is also important to stress the fact that Minister Kubayi is the shareholder to CEF and all matters relating to governance at the SOC will be dealt between herself and the Board, as such matters are dealt within the confidentiality it deserves. Should there be a need to make public announcement on any matter relating to the issues, Minister Kubayi will do so at an appropriate time.

At this stage, we appeal to all not give a misrepresentation of the process.

For more information kindly contact Nomvula Khalo on Nomvula.khalo@energy.gov.za or on 082 468 2834

 

 

Issued by Ms Nomvula Khalo

Ministerial Liaison Officer

 

For more information, please contact: 0824682834/ nomvula.khalo@energy.gov.za

CEF appoints new Directors to the PetroSA board

MEDIA STATEMENT

06 July 2017

CEF appoints new Directors to the PetroSA board

Johannesburg – The CEF Board is pleased to announce the appointment of an interim board for PetroSA with effect from the 5th July 2017.

This decision is the culmination of a thorough assessment, consultation and engagement with all parties concerned cognisant of the financial sustainability and the strategic direction of the national oil and gas entity.

The appointed team brings to PetroSA demonstrated and relevant industry experience and strategic acumen. Most importantly, their combined experience will further support the strategy to deliver value to the entity’s stakeholders through good governance, operational excellence, and continued growth.

The CEF board will work closely with the interim board to provide any requisite support and to ensure that its functioning is not hindered in its efforts to bring stability and sustainability to PetroSA.

The new PetroSA interim board is constituted as follows:

1. Mr Nhlanhla Gumede – Chairperson
2. Ms Leanne Williams
3. Mr Quentin Mathew Noto Eister
4. Ms Puleng Kwele
5. Mr Boy Manqoba Ngubo
6. Dr Nomvuselelo Songelwa
7. Mr Sepheu Simon Masemola
8. Mr Mthozami Xiphu

For any inquiries and, please contact: Mr Jacky Mashapu
Head of Corporate Affairs: CEF Group
Cell: 071 485 6856
Tel: 010 201-4700
E-mail: jackym@cefgroup.co.za

CEF appoints new Directors to the PetroSA board

MEDIA STATEMENT

06 July 2017

CEF appoints new Directors to the PetroSA board

Johannesburg – The CEF Board is pleased to announce the appointment of an interim board for PetroSA with effect from the 5th July 2017.

This decision is the culmination of a thorough assessment, consultation and engagement with all parties concerned cognisant of the financial sustainability and the strategic direction of the national oil and gas entity.

The appointed team brings to PetroSA demonstrated and relevant industry experience and strategic acumen. Most importantly, their combined experience will further support the strategy to deliver value to the entity’s stakeholders through good governance, operational excellence, and continued growth.

The CEF board will work closely with the interim board to provide any requisite support and to ensure that its functioning is not hindered in its efforts to bring stability and sustainability to PetroSA.

The new PetroSA interim board is constituted as follows:

1. Mr Nhlanhla Gumede – Chairperson
2. Ms Leanne Williams
3. Mr Quentin Mathew Noto Eister
4. Ms Puleng Kwele
5. Mr Boy Manqoba Ngubo
6. Dr Nomvuselelo Songelwa
7. Mr Sepheu Simon Masemola
8. Mr Mthozami Xiphu
For any inquiries and, please contact: Mr Jacky Mashapu
Head of Corporate Affairs: CEF Group
Cell: 071 485 6856
Tel: 010 201-4700
E-mail: jackym@cefgroup.co.za

SA Solar Industry A Global Example

South Africa is currently one of the world‟s leading examples in terms of sustainable government policy on solar,” says Edwin Koot, CEO of Solarplaza, the leading global solar energy conference organiser.

The global Photovoltaic (PV) industry has been turned upside down in the last 24 months, with former industry leaders losing massive market share, China soaring to new heights, and South Africa revealing itself as an example of sustainable government policy.

Solarplaza has visited more than 25 countries and returns to South Africa for their third annual conference at the Hilton Sandton in Johannesburg from 11-12 February.

Koot expands, “Europe has suffered especially as some governments have unpredictably withdrawn or taxed their incentive schemes. While Spain, Germany, Belgium and Italy have all encountered turbulence and turnarounds in the last 12 months, SA has shown commitment in setting up its solar industry currently moving into round four, maintaining its incentives, and

successfully getting projects off the ground. In our recent trip to Dubai, South Africa came up as the case study to follow.”

Koot adds, “In this economy, we are learning that it‟s not about size – Suntech, the former world leader, and LDK are now battling – while previously smaller players like Jinko Solar are soaring. It has shown that timing is critical and right now South Africa‟s timing is excellent.”

In the competition between clean energy suppliers, solar has just taken precedence over wind.

Saliem Fakir of WWF‟s Living Planet Unit in South Africa which advocates for a shift away from fossil fuels explains, “Very recently, the South African department of energy released a revised Integrated Resource Plan (IRP). Because of the report‟s preference for solar energy, I expect solar-driven energy solutions to become a stronger competing force in South African power markets, at the expense of wind energy. South Africa reaps high levels of direct solar radiation, which will boost progress towards efficient application of solar systems, and drive down costs.”

Large corporates and the mining industry are now considering solar as a hedge against future rising tariffs, categorised by Koot as “asset management with a good return, since your investment could be paid back within 5 years in some cases.”

Furthermore, solar production costs have declined as much as 60% since their 2008-highs, and may continue further. Fakir adds, “We believe the declining costs of renewable energy technologies and the inversely-proportionally rising costs of conventional energy-winning methods, will reach parity in South Africa. The question is when.”

However, solar financing remains problematic, and due to the growing trend for distributed solutions – rooftop, small scale projects and off-grid solutions –

creative financing solutions feature high on the list of topics to be covered. Jonathan Berman of Fieldstone will be analysing emerging non-bank debt providers, enhancing competition amongst lenders, and asking how South Africa can grow a wider pool of institutional equity providers with lower equity return requirements, to match the benchmarks set by winning investors in round three. He also challenges whether different financing models apply to the smaller scale non-Eskom generators hosted by industrials such as mines.

Vishal Shah, Managing Director, Deutsche Bank presents “The second solar „gold rush‟” sharing his outlook on cost reductions in the supply chain, reviewing current global demand, and the rush for installations during the coming 3 years.

Koot concludes, “Solarplaza has been witness to the immense positivity and growth in South Africa. There is high energy here and you can enter the market even if there aren‟t incentives. From what we‟ve seen, it really can be one of the world‟s huge markets, as long as the government stays the course after the next election.”

Green Business Guide

29 January 2014