South African coal miner Exxaro Resources taking first steps into renewable energy arena

first_imgSouth African coal miner Exxaro Resources taking first steps into renewable energy arena FacebookTwitterLinkedInEmailPrint分享Business Day:Exxaro Resources, [South Africa’s] largest, black-empowered coal miner, is moving into renewable energy as the global transition away from fossil fuels intensifies.At its results presentation on Thursday, Exxaro CEO Mxolisi Mgojo said that after following a “robust engagement” between the board and management, Exxaro has resolved to adopt a strategy “that will focus solely on new opportunities in the energy security space”. Mgojo said renewable energy is the fastest growing energy sector and so will be core to the strategy.The growing issue of climate change presents “big risk” to Exxaro’s business but it has resolved to embrace the challenge, Mgojo said.In South Africa (SA), the integrated resource plan (IRP) envisages a much-reduced role for coal in the country’s future energy mix. In the private sector, big emitters have come under pressure to clean up their act. Lenders too are feeling the heat and last week Standard Bank published its policy on funding coal-powered projects and coal mining.In September last year, Exxaro announced its acquisition of the remaining 50% stake in Cennergi, an independent producer of renewable power in SA, which provides a key steppingstone in Exxaro’s pursuit of its new strategy, Mgojo said.He said the strategy is also being driven by a more-drastic-than-expected liberalisation of SA’s energy market, which, Mgojo said, is driven by severe levels of load-shedding that have prompted stakeholders and the government into action. Recently, the government announced that it will clear the regulatory hurdles which have prevented industry from producing energy for its own use. “There are a lot of things being done behind the scenes,” Mgojo said.[Lisa Steyn]More: Exxaro embraces a green futurelast_img read more

Aranguiz joins Leverkusen

first_img “We’ve been focusing our efforts on realising this transfer for a long time now and we were not really helped by the player’s extraordinary performances both in the Copa (America) and for his club. “That makes it all the more satisfying now to have beaten off international competition for his signature.” He has also been welcomed to the Bundesliga club by their director of sport Rudi Voller, who believes he will soon fit in and adapt to a style of play he is already used to. “Charles Aranguiz has proven above all for the Chilean national team what an extraordinary footballer he is,” Voller said. “Their style of play, which is based on a lot of running and aggression, is very similar to ours. “Aranguiz has always proven to be the strategist; the orchestrator in that team. “He raises the quality of our team and, with him, we’ve signed the player we really wanted for this position in our midfield.” After putting pen to paper on a five-year contract, the Chilean admitted his compatriot Arturo Vidal, who used to play for Leverkusen and is now at Bundesliga rivals Bayern Munich after four years with Juventus, had made up his mind for him. Bayer Leverkusen have beaten off competition from Leicester City to sign Chilean midfielder Charles Aranguiz from Brazilian club Internacional. “The Bundesliga is one of the best and most attractive leagues in the world, and Bayer have been one of the top teams in it for many years,” he said. “My national team colleague Arturo Vidal spoke highly of Leverkusen and that’s why I desperately wanted to come to this club. “I also see a big chance of playing in the Champions League with Leverkusen. I’m really looking forward to this challenge in a new country.” The 26-year-old, one of Chile’s stars at the recent Copa America, has signed a five-year contract with the Bundesliga club after passing a medical on Wednesday. “We’re pleased that our persistency paid off and that Charles Aranguiz has decided to join us,” said Leverkusen’s general manager Michael Schade on the Bundesliga club’s website. Press Associationlast_img read more