http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.75Change: 0.08
R/$ = 10.98Change: -0.03
Au 1164.55 $/ozChange: -35.67
Pt 1225.50 $/ozChange: -20.50
 
 
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 Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Aug 16, 2012

Wasabi Energy increases stake in AAP Carbon

Back
Engineering|Expertise|AAP Carbon|Africa|Business Growth|Cogeneration|Engines|PROJECT|Projects|Wasabi Energy|Waste|Africa|South Africa|Carbon Asset Management|Chemical And Thermal Energy Conversion|Chemical Energy Conversion|Cogeneration|Electricity|Energy|Steel|Thermal Energy|Cogeneration|John Byrne|Power|Waste|Sub-Saharan Africa
Engineering|Expertise|Africa|Business Growth|Cogeneration|Engines|PROJECT|Projects|Waste|Africa||Cogeneration|Energy|Steel||Cogeneration|Power|Waste|
engineering|expertise|aap-carbon|africa-company|business-growth|cogeneration|engines|project|projects|wasabi-energy|waste-company|africa|south-africa|carbon-asset-management|chemical-and-thermal-energy-conversion|chemical-energy-conversion|cogeneration-industry-term|electricity|energy|steel|thermal-energy|cogeneration-person|john-byrne|power|waste|subsaharan-africa
© Reuse this



ASX- and Aim-listed Wasabi Energy has increased its stake in carbon asset management and engineering firm AAP Carbon to 62.5%, from 25% as it moves to shore up its presence in sub-Saharan Africa.

Wasabi Energy executive chairperson John Byrne said this week that the company had been working closely with AAP Carbon since early 2012. “We are impressed with the opportunities available to the group in South Africa and sub-Saharan Africa with a number of projects being well advanced.”

Under the terms of the transaction, AAP Carbon would be granted a Kalina Cycle licence for sub-Saharan Africa, which, together with its existing chemical energy conversion business, would deliver a unique offering to the African market.

Wasabi Energy’s Kalina Cycle converts thermal energy into electricity.

The company said that AAP Carbon intended to raise additional equity to fund its business growth either through a public listing or through the introduction of new equity partners.

“The joining together of AAP Carbon with Wasabi Energy's business development activities provides a powerful combination of expertise, proven track record in the development and implementation of projects and a unique offering with the combination of chemical and thermal energy conversion with the use of the Kalina cycle,” Byrne said.

He noted that Southern Africa was not alone in its requirement for reliable power, and the demand from around the world for the Kalina Cycle continued to grow. “We are therefore confident that through this and other licensees our growth targets will be achieved," he noted.

In March, Wasabi purchased 25% of AAP Carbon, a group that engineers, builds, accredits and invests in clean energy projects that generate carbon credits under the Clean Development Mechanism (CDM) of the Kyoto Protocol.

AAP Carbon's flagship cogeneration plant is the 20 MW International Ferro Metals (IFM) power plant, where carbon monoxide-rich waste gas is harnessed to produce in excess of 160-million kilowatt hours a year of low-emission electricity for the ferrochrome producer’s own use.

Wasabi Energy has been in discussions with AAP Carbon regarding the installation of a Kalina Cycle power plant that would use the waste heat from the reciprocating engines to produce up to 20% of additional electricity.

The IFM project is being registered for certified emission reduction credits (CERs) under the United Nations Framework Convention on Climate Change CDM framework. AAP Carbon will hold 25% of the project's CERs and manage the project on behalf of IFM for a 10-year period. These CERs are expected to provide a revenue stream alongside other management fees earned by AAP Carbon.

AAP Carbon is also studying the feasibility study for a 28 MW chemical energy conversion plant for Hernic and is in advanced discussions with Mogale Alloys and Tata Steel amongst others. Wasabi Energy said each of these potential power plants created an opportunity to add a Kalina Cycle power plant to generate more power by using the exhaust gases.

Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
Updated 3 minutes ago JSE-listed Intu Properties has replaced an existing £375-million facility, set to expire in November 2018, with a new corporate £600-million revolving credit facility (RCF). In an update to shareholders on Friday, the company explained that the new facility had a...
Updated 9 minutes ago The South African Breweries (SAB) Foundation has named local innovation, Bee-Pak, a compact bee farming system, as the R1-million prize-winner of its fourth Annual Social Innovation Awards.   The Bee-Pak was a flat-pack composite beehive system with an encapsulated...
Updated 16 minutes ago Now in its third year, the 2014 Nedbank Capital Sustainable Business Awards has recognised African businesses that have succeeded in balancing economic profitability with sustainable business practices, challenging companies in major industries to rethink the way...
More
 
 
Recent Research Reports
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...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
 
 
 
 
 
This Week's Magazine
In the next 20 years, it was expected that, in Africa, more people would live in cities and towns than in rural areas, United Nations Habitat executive director Dr Aisa Kirabo Kacyira said at the Human Settlements Indaba that took place earlier this month in...
Tough-talking Human Settlements Minister Lindiwe Sisulu has committed government to building 1.5-million low-cost houses over the next five years, telling the Human Settlements Indaba in Johannesburg on Wednesday that the State would achieve this target through the...
Over the past 20 years there has been persistent concern about deindustrialisation in South Africa, as well as the fact that locally produced manufactured products have been increasingly displaced by imports.
Financial agreement for Ghanian independent power producer (IPP) Cenpower Generation Company’s $900-million, 350 MW combined-cycle gas-turbine power plant was finalised earlier this month, paving the way for the project’s construction to begin before 2015 in Tema,...
The revenue implications for South Africa of ‘base erosion and profit shifting’ by corporate taxpayers are firmly in the crosshairs of the Davis Tax Committee (DTC) and Judge Dennis Davis hinted last week that recommendations were being considered to “detect and...
 
 
 
 
 
 
 
 
 
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