Another nail in the coffin for Eskom’s monopoly in South Africa
Lyra Energy, a renewable energy platform supplying power to industries, has been granted an electricity trading license in South Africa.
The venture between Scatec ASA and Stanlib Asset Management Pty Ltd., with Standard Bank Group Ltd. as a debt funder, was awarded the license by the National Energy Regulator of South Africa, Lyra said in a statement.
South Africa is taking steps to open up its electricity market. It is breaking up state-owned Eskom Holdings SOC Ltd.’s century-old monopoly into generation, distribution and transmission units.
Nersa started a process last month to develop electricity trading rules that are expected to be finished next year.
The regulator ramped up approvals in November, granting licenses to Discovery Green, Green Electron Market, CBI Electric Apollo and GreenCo Power Services.
Lyra Energy will fund, build, own, and operate generation assets with the electricity transmitted, or wheeled, to offtakers across the grid. It expects to reach its first power supply agreement later this year, it said.
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