http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.05Change: -0.06
R/$ = 11.99Change: -0.14
Au 1202.62 $/ozChange: -3.53
Pt 1150.50 $/ozChange: -5.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Aug 21, 2012

Australian power firm mulls SA unit listing as it raises stake

Back
Engineering|Expertise|Johannesburg|London|Melbourne|AAP Carbon Holdings|Africa|ArcelorMittal South Africa|Engines|GE|Hernic Ferrochrome|Industrial|Mining|Mogale Alloys|Projects|Tata Steel|Training|Wasabi Energy|Africa|Australia|South Africa|Turkey|MW Power Plant|Energy|Power Generation|Power Producer|Power-generation|Services|Steel|Alex Berger|Diane Bettess|Power|Operations
Engineering|Expertise||Africa|Engines|GE|Industrial|Mining|Projects|Training||Africa|||Energy|Power Generation|Power-generation|Services|Steel|Power|Operations
engineering|expertise|johannesburg|london|melbourne|aap-carbon-holdings|africa-company|arcelormittal-south-africa|engines|ge|hernic-ferrochrome|industrial|mining|mogale-alloys|projects|tata-steel|training|wasabi-energy|africa|australia-country|south-africa|turkey|mw-power-plant|energy|power-generation|power-producer|power-generation-industry-term|services|steel|alex-berger|diane-bettess|power|operations
© Reuse this



The decision by independent power company Wasabi Energy, which is listed in both Australia and London, to raise its shareholding in South African energy company AAP Carbon Holdings to 62.5%, from 25%, could be the precursor to an equity raising or listing of an independent power producer (IPP) in the coming 12 months.

Wasabi COO Diane Bettess tells Engineering News Online that the South African and sub-Saharan African markets, along with Turkey, are receiving priority attention from the company, which has projects in either operation or development involving more than 50 MW of new power capacity.

No value was attributed to the all-share acquisition of AAP Carbon, at its unveiling in mid-August. But the deal has increased Wasabi’s domestic capacity and enabled the two entities to consolidate their respective pipeline of projects.

These projects are located primarily within South Africa’s metals and minerals sector and are being pursued together with companies such as ArcelorMittal South Africa, Hernic Ferrochrome, Mogale Alloys and Tata Steel.

The consolidated portfolio also includes AAP Carbon’s flagship 20 MW power plant at International Ferro Metals, which is in the final stages of being registered under the Clean Development Mechanism of the Kyoto Protocol.

Bettess, who is a geologist by training and who has held various senior positions at Australian engineering and mining services companies, has joined AAP Carbon as an executive director – AAP Carbon’s Alex Berger is leading the enlarged entity.

She says the African unit, if a listing is sought, is likely to be dual listed in London and Johannesburg. But she stresses that the pace at which projects are advanced and market sentiment will dictate the timing.

“In order to build these plants, whether we do it through a debt/equity combination or through straight equity, we are going to require additional equity to build the business,” Bettess explains, adding that a listing would be among the options explored.

The domestic market for on-site chemical and thermal energy conversion, involving plants ranging in size from 5 MW to 30 MW, is considered to be material. It is being spurred by rising electricity prices and a desire by industrial companies to improve the energy efficiency of their operations.

AAP Carbon has developed particular expertise in configuring GE Jenbacher gas engines to capture off-gases to generate power. Wasabi, which is domiciled in Melbourne, Australia, is the proprietor of the Kalina Cycle – an efficient way of turning low- to mid-temperature heat to power. The Kalina Cycle can add a further 10% to 20% of capacity by capturing exhaust gases emerging during the power generation process.

There is a growing appetite in South Africa industry for the combination of chemical and thermal energy conversion and Bettess says she has found South African business people, as well as the regulatory authorities to be “strongly supportive” of such endeavours.

“We believe that there is going to be a strong pipeline of opportunities in the coming years,” she concludes.


 

Edited by: Creamer Media Reporter
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Electricity News
Updated 1 hour 40 minutes ago About 1 000 workers at the construction site of South Africa's Eskom Medupi power plant have been fired for vandalising property during this week's one-day strike, the power utility's spokesperson said on Friday. About 21 000 contract workers went on a one-day strike...
Article contains comments
The presidency on Thursday said it would not entertain what it called rumours and gossip about operations at Eskom. "President Jacob Zuma has been kept fully briefed about the developments at Eskom and the attempts being made by the Minister of Public Enterprises, Ms...
Article contains comments
Eskom CEO Tshediso Matona
Eskom questions why CEO Tshediso Matona's suspension should be lifted before the outcome of his case at the Commission for Conciliation, Mediation, and Arbitration (CCMA), the Labour Court in Johannesburg heard on Thursday. "... This is frustrating the work of the...
Article contains comments
Article contains comments
More
 
 
Latest News
Updated 9 minutes ago A challenging construction sector, difficult contractual environment and poor operational performance have contributed to JSE-listed construction company Basil Read reporting an R820.9-million aftertax loss for the year ended December 31, 2014. “Lossmaking contracts...
Updated 52 minutes ago Big cities across the world struggle with crime, and Zimbabwe’s Harare is no exception. Naison Gumpo, a journalism student studying in the capital, knows this only too well.
Updated 53 minutes ago There is a high possibility of rolling blackouts on Friday, Eskom said on its Twitter account. "The load shedding prognosis today [Friday] remains high and is dependent on the performance of the power plant," the power utility tweeted.
More
 
 
Recent Research Reports
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
 
 
 
 
 
This Week's Magazine
Projected capital expenditure (capex) in the South African automotive assembly industry should reach a record R7.48-billion this year, says the National Association of Automobile Manufacturers of South Africa (Naamsa) in its 2014 fourth quarter business review. Capex...
After several years of navigating project-threatening red tape and currency fluctuations, the 4.4 MW Bronkhorstspruit biogas power plant, which will supply clean energy to a leading automotive manufacturer in Gauteng, is expected to enter production before June....
RESOURCEFUL The raw material for the pilot plant would be supplied from the dissolving wood pulp plants at Sappi’s Saiccor and Ngodwana mills, in South Africa, and the Cloquet mill, in the US
South African paper and pulp producer Sappi reported earlier this month that it would build a pilot plant for the production of low-cost Cellulose NanoFibrils, or CNF (nanocellulose) at the Brightlands Chemelot Campus in Sittard-Geleen in the Netherlands.
The long-term outlook for Nigeria is a country that has the potential to be very strong. So affirmed International Monetary Fund (IMF) Nigeria Mission Chief and Senior Resident Representative Dr Gene Leon on recently. "But we are starting from a point of huge...
Poor infrastructure planning and inadequate maintenance are becoming increasingly problematic for new developments and the associated infrastructure required to support such developments.
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96