BRICS nations discuss energy for the future

August 2nd, 2018, Published in Articles: Vector

At a time when the international energy sector is discussing new low-cost generation technologies based on clean, sustainable primary energy sources, some BRICS member countries are negotiating loans to build coal-fired power stations.

The 2018 BRICS Business Council Energy Event 2018 was themed “Energy transition 4.0”, and hosted at the Industrial Development Corporation (IDC) conference centre in Sandton, Johannesburg. Discussions centered on how the Fourth Industrial Revolution will affect the energy sector.

About 500 energy leaders; experts; energy companies; investors; government officials; academics and NGOs from BRICS countries and other African states discussed matters including what the energy transition will mean in the sub-Sahara context; the role of centralised generation in future electric utilities; identifying the customer of the future, and lessons companies can learn from other BRICS countries.

The latest developments in electricity generation include the rapid growth of utility-scale renewable energy sources. Coal-fired power stations are to be phased out as the new age demands electricity generation from clean, sustainable sources.

It is therefore ironic that, at the same time, Eskom signed a $2,5-billion loan agreement with the China Development Bank to complete the 4800 MW Kusile coal-fired power station.

In his key note address, Brian Dames, the chairperson of BRICS’ South African Energy and Green Economy Work Group chairperson Brian Dames said the energy transition will result in the biggest change the energy sector has seen since the choice between alternating and direct current.

Senior executive of the South African BRICS Business Council Stavros Nicolaou said the BRICS Business Forum was established to encourage investment and cooperation between BRICS businesses.

 

 

 

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