South Africa-based automotive and energy storage group Metair Investments has posted increased operating profit for 2018— boosted by its lead-acid operations in Turkey and Romania.
Metair said group operating profit for the year ended 31 December 2018 increased by 19% to just over ZAR1 billion (US$69 million) compared to the previous year. Revenue for 2018 was ZAR10.28bn, an increase of 8% compared to 2017.
Group earnings before interest, tax, depreciation and amortisation (EBITDA) increased 9.4% to ZAR1.33bn.
ENGIE has started commercial operations of its 100MW Kathu Solar Park (KSP) to “provide clean and reliable energy to 179,000 homes” in South Africa.
KSP is a greenfield concentrated solar power project with “parabolic trough technology” and equipped with “a molten salt storage system that allows for 4.5 hours of thermal energy storage”.
The project has been realised under round 3.5 of South Africa’s Renewable Energy Independent Power Producer Procurement (REIPPP) programme, a competitive tender process launched “to facilitate private sector investment in renewable energy generation”.
South Africa-based automotive and energy storage group Metair Investments has launched a EUR300 million ($353m) bid to acquire European lead battery firm Tovarna Akumulatorskih Baterij (TAB).
Metair said the bid is still “in the early stages”— but confirmed it is in exclusive talks that could see it take control of and expand TAB’s international automotive batteries and energy storage business.
Yet another death knell sounded for lead-acid this week as a South African start-up announced plans to completely replace lead-acid batteries in southern Africa.
Based in Somerset West, BlueNova has joined Woodmead-based Reutech (whose former CEO, James Verster, now heads up BlueNova) to launch its lithium iron yttrium phosphate (LiFeYPO4) batteries which, the firm claims, are as cheap as existing lead-acid batteries and longer lasting