By Antony Sguazzin
(Bloomberg) – A legal wrangle over a power supply contract worth an estimated R218bn ($16bn) could derail the South African government’s attempts to ease electricity shortages that have hobbled the economy for more than a decade.
The case filed by DNG Energy last month to be named as a preferred bidder to provide about 1,220 megawatts of electricity by August 2022 in place of Turkey’s Karpowership won’t be heard in the Pretoria High Court until mid-July at the earliest. Karpowership and other bidders who won smaller deals have until the end of that month to conclude the necessary regulatory and funding requirements for their contracts to take force.
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SA power supply deal faces legal challenge over graft
DNG Energy, sued to halt the governmentâs award of emergency power supply contracts, alleging that the process was tainted by corruption.
By Antony Sguazzin, Bloomberg
30 Apr 2021 12:19
Image: Tomohiro Ohsumi/Bloomberg
DNG Energy, a South African gas company, sued to halt the governmentâs award of emergency power supply contracts, alleging that the process was tainted by corruption.
Some of the eight bid winners, especially Turkeyâs Karpowership, which operates mobile, vessel-based power plants, were granted unlawful exemptions from the tender requirements, DNG said in court documents. Its lawsuit could hamper attempts to bring new generation capacity on line and address a crisis thatâs seen state utility Eskom subjecting the nation to intermittent electricity outages.
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Australia-based Power Ledger is using blockchain to create a peer-to-peer solar energy trading network.
The company raised US$26 million from an initial coin offering (ICO) in 2017 to encourage grassroots investors
Because of her work, Insider named Power Ledger cofounder, Jemma Green, to our annual list of the 10 leaders transforming energy in Asia.
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Power Ledger, an Australia-based startup, is combining two innovative technologies – blockchain and solar power – to transform global energy markets and ultimately power the world through renewables. The company s blockchain-enabled technology promotes peer-to-peer (P2P) solar energy trading, allowing consumers to sell their excess electricity to other residential and commercial users. The software is currently in use in a number of countries including Japan, India, the US, and Australia. In 2017, just one year after it was founded, Power Ledger raised roughly US$26 million in one
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NEW YORK, April 8, 2021 /PRNewswire/ OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced NG Energy International Corp. (TSX-V: GASX; OTCQX: GASXF), a publicly traded E&P company, has qualified to trade on the OTCQX® Best Market. NG Energy International Corp. upgraded to OTCQX from the Pink® market.
NG Energy International Corp. begins trading today on OTCQX under the symbol GASXF. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high fin
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