Apollo Africa, a business in Reunert’s Renewable Energy Cluster, has been granted an Electricity Trading Licence by the National Energy Regulator of South Africa (NERSA). This marks another significant step towards private power trading in South Africa, in line with the Electricity Regulation Amendment Act recently signed into law by President Cyril Ramaphosa, which signalled a transformative moment for the country’s energy sector.
Apollo Africa is one of four companies recently granted electricity trading licences by NERSA.
At its meeting on 29 October, the National Energy Regulator of South Africa approved the issuing of four new electricity trading licences. Alongside that issued to Apollo Africa (CBI Electric Apollo), licences were also issued to Discovery Green, Green Electron Market, and GreenCo Power Services, which was also granted an import/export licence.
The Electricity Regulation Amendment Act paves the way for a competitive electricity market. It introduces a new market code and system, creating opportunities for increased public participation with entities like Apollo Africa playing a pivotal role in the country’s energy future. The Act also establishes the framework for a Transmission System Operator to oversee the national grid, ensuring transparent and competitive energy trading.
NERSA recognises that as the electricity market opens up, it urgently needs to finalise a framework to regulate electricity traders, trading and wheeling protocols. More work is also needed to govern an open and competitive import/export market.
Jenna Harris, CEO of Apollo Africa, commented on the company’s achievement: "We’re thrilled to have our licence and to be at the forefront of this new era in the energy sector. The Electricity Regulation Amendment Act opens unprecedented opportunities for competition and cost reduction in energy. We are progressing our first major wind project and are committed to providing our customers with the reliable, cost-effective power they need. Many of our customers have already invested in rooftop solar solutions, and we will supply the balance of their energy needs in the most efficient way possible."
Apollo Africa’s entry into the electricity trading market is considered timely, as the new market system will increasingly tie energy prices to supply and demand dynamics. This shift indicates that customers should start securing private power sources now, to take advantage of more favourable pricing and to ensure energy price security as South Africa transitions to a more competitive market structure.
Deon de Kock, CEO of Reunert’s Electrical Engineering Segment, supported this view, saying, “Apollo Africa is playing a leading role in the transition in South Africa’s energy sector, providing customers with professional support and world-class solutions to access reliable and affordable green energy.
“We are excited about Apollo Africa’s new licence, as the business’s financial performance will make a key contribution to the Renewable Energy Cluster’s future growth and delivery against Reunert’s investment case. Apollo Africa complements Reunert’s renewable energy ecosystem, which offers converged renewables and solutions to customers.”
Apollo Africa is committed to sourcing and securing sustainable energy from top-tier renewable energy projects, to deliver significant savings on power costs for businesses and at the same time help them to reduce their carbon footprints and achieve their environmental, social, and governance targets. By partnering with Tier 1 independent power producers and leveraging deep technical expertise, Apollo Africa offers customised energy solutions to meet the needs of its clients.
For more information visit: www.apolloafrica.co.za
