The race to win the battle of energy storage is on
Absa Insights is a portal where the bank’s sector experts share essential learnings and new developments with its clients and other businesses. The world is changing; so this year, Absa has introduced a series of discussions featuring high-level thinking around Consumer Goods and Services, Mining and Energy and Infrastructure. Bookmark Absa Insights, where the bank shares insights from discussions designed to help you navigate the ever-shifting trends that are shaping the economy.
Listen to the audio below (or scroll down for a summary of it).
As a bank at the forefront of financing the country’s emergency power program, Absa has seen significant interest from international developers, with various forms of energy storage at the centre of that interest.
Relieved to see battery technology coming to the fore – Ted Blom, Power and Mining Expert and Partner at Mining and Energy Advisors says “the Eskom that we knew and relied on for over hundred years is no longer capable of satisfying the needs of both the South African economy, South African households as well as the industrialised countries as our neighbours.”
Wherever there is a problem, there is a solution and, a solution is an opportunity, says The Money Show’s Bruce Whitfield.
The electrification shall proceed…
“From a global perspective, we see the increase in demand in all areas of the world, so the electrification will proceed and, as we learn that all the emerging technologies are very energy-hungry… we see this as a major trend,” says Maximilian Niederehe, Business and Solutions Development Manager at Siemens Energy.
On the topic of regulation, he explains that there have been movements towards enabling energy storage as part of the landscape in Germany.
Asked whether the storage of renewables feasible, Niederehe says “what we see in Germany there is a lot of push, also looking at the decarbonisation of an existing fleet, making coal-fired power plants into storage power plants, which is possible using thermal energy storage.”
For more detail, watch the video featuring The Money Show’s Bruce Whitfield in discussion with Bhavtik Vallabhjee (Head: Power, Utilities and Infrastructure, Absa Corporate and Investment Banking), Ted Blom (Power and Mining Expert and Partner, Mining and Energy Advisors) and Maximilian Niederehe (Business and Solutions Development Manager, Siemens Energy) on the impact of battery energy storage on the Africa’s power sector.
Source : Absa