Eskom secures R2.8bn Medupi loan

first_img11 September 2008 “The export credit financing loan is payable over 12 years after the commissioning of the units at Medupi power station,” Eskom said. “Eskom is expected to make draw down from this facility from the beginning of the new calendar year.” Eskom said in a statement this week that the loan would be used to partially finance the six boilers that the Hitachi Power consortium will supply for the construction of the new Medupi coal-fired power station, being built near Lephalale in Limpopo province. Eskom recently began construction on the Kusile coal-fired power station near Witbank in Mpumalanga province, while work on Medupi began in April. The first of Medupi’s six generating units will be commissioned by early 2011, with the last unit scheduled for commissioning by January 2015. The first of Kusile’s six generating units is scheduled for completion by 2013, followed by the completion on an additional unit after every eight months. Eskom has also called for statements of qualification from local and international companies interested in investing in South Africa as independent power producers. KfW-IPEX and financial services group HSBC jointly arranged the export finance cover from the German federal government-backed export credit agency Hermes.center_img SAinfo reporter Speaking at the signing ceremony, Nqwababa said that Eskom’s partnership with KfW-IPEX was important in ensuring that Eskom continued to secure and stabilise South Africa’s power systems. The signing of the loan agreement with KfW-IPEX, which took place at Eskom’s headquarters in Johannesburg, was attended by Eskom finance director Bongani Nqwababa and KfW-IPEX first vice-president Peter Purkl. South African state electricity company Eskom has secured a €250-million (about R2.8-billion) export credit financing loan from Germany’s KfW-IPEX to fund part of its capital expenditure activities. Would you like to use this article in your publication or on your website? See: Using SAinfo materiallast_img read more

Is Denver a New Kind of Tech Town? Positively.

first_imgTrends Driving the Loyalty Marketing Industry Why IoT Apps are Eating Device Interfaces Tags:#Denver Brad is the editor overseeing contributed content at ReadWrite.com. He previously worked as an editor at PayPal and Crunchbase. You can reach him at brad at readwrite.com. Follow the Puck Brad AndersonEditor In Chief at ReadWrite What it Takes to Build a Highly Secure FinTech … Related Posts Denver has long been the playground of craft brewers and the outdoorsy types, but thanks to a booming economy, growing metro area, and intelligent workforce, it’s now also a technology hotspot. Yet unlike Silicon Valley with its cut-throat reputation, Denver is a *different* kind of tech town: one that’s as supportive as it is smart, an idea as refreshing as the Rocky Mountain air.It’s no secret that Denver’s a peak business destination. U.S. News and World Report named it a top place to live in 2018 based on a healthy job market, cost of living, and perception as a desirable place to live, and Forbes includes Denver among the nation’s best cities for business and careers. What’s new is the influx of tech over the past decade in the form of startups, incubators, and innovative companies — and the welcoming community that greets them. “Anyone’s welcome here, as long as they remember to be kind, give back, and respect our nature,” says Lizelle van Vuuren, founder of celebrated learning platform Women Who Startup.Like other technology hotspots, Metro Denver has become a connected sprawl, drawing in places like Boulder, Centennial, and Louisville. And the area is booming; according to the Denver Chamber of Commerce, the region added about 39,000 jobs in 2017 and employment growth was 1.2 percentage points higher than the national average.The City of StartupsMany of those jobs have been created by startups. The Denver Business Journal reports ventured capitalists invested a record $1.1 billion in Colorado startups in 2017. But the VCs have had plenty to choose from over the years; the original Startup Week took place in Boulder in 2007. (It was so successful that the founding company, Boulder’s Techstars, is now running Startup Weeks globally.) What makes the area so great for startups? “Greater Denver has everything an entrepreneur might need, most importantly population density and free thinkers,” says Brad Feld, Co-Founder of Techstars and Managing Director at Foundry Group. “You’ve got all of the resources here, but none of the ego.”And then there’s the “other” startup week — Denver Startup Week — an unrelated conference which has become the country’s largest free entrepreneurial event; this year’s event boasts 20,000 attendees and 376 sessions (chosen from 1200 submitted). This one is unique in that the entire thing is run by a community of passionate volunteers who manage the agenda, content, and more. Founders Ben Deda and Erik Mitisek — both University of Denver alums — drew on the area’s supportive nature in creating the event: “Whether you’re talking sports, business, skiing, or technology, Denver is such a supportive place. I’ve always been taken by the idea of collective community leadership, and this is a perfect example of what can happen when a community collaborates to support all walks of entrepreneurs,” says Mitisek.Leading the Internet of ThingsThanks to a great deal of those successful startups, Denver is now a recognized leader in the internet of things (IoT), or the industry building devices enabled with electronics, software, and connectivity. Denver is home to Rachio, which added the internet to sprinkler systems, and Remote Lock, which added the internet to door locks. Then there’s Boulder’s Chui, which created the smart doorbell, and Revolar. Revolar’s line of personal safety devices provide peace of mind. They let you stay in touch with friends and family, or quickly send for help, all with the click of a button.Combining Denver’s love of the outdoors with its penchant for IoT is Louisville-based Clean Energy Collective (CEC), which is pioneering environmental IoT via intelligent software and community-shared clean energy facilities. “Living in such a beautiful area, you can’t help but care about the environment and how to preserve it. It’s in our DNA,” says Paul Spencer, Founder and CEO of CEC. “That’s why we’re taking solar energy mainstream.”Who’s helping all these companies get started? For many of them it’s Boomtown Accelerator, which created the area’s first IoT lab, complete with design and software work stations and equipment like 3D printers and scanners, plus a library of every available IoT device — tablets, smart thermostats, lightbulb, and appliances — so developers can test their devices with existing IoT objects.If You Build It, They Will ComeIn addition to IoT, Denver is now home to a number of other subsets — like secondary tech offices and tech transplants — all seeking to bask in the all-for-one-and-one-for-all mentality. Most notably there’s tech giant Salesforce, which has an office in Louisville. “We love the opportunities the Denver area affords,” says Salesforce SVP Marie Rosecrans. “Louisville is a great place to be thanks to reasonable real estate costs and high quality of life, but really the whole area jives with our company and values.”And then there’s transplant Guild Education, which helps large employers offer college education benefits and tuition reimbursement as an employee work perk. The female-founded company began in San Francisco, but migrated to Denver thanks to a lower cost of living and a supportive community. “Denver fits our model, our mission, and our people,” says Guild CEO and Co-Founder Rachel Carlson. “We believe it’s the best place to build a mission-driven, high growth company, both because of the amazing people who live here and the city itself.”Collaboration Is ContagiousThe collaborative nature of the city is inspiring. Take a group of entrepreneurs and add a little kumbaya, and you get the Downtown Denver Partnership, a collaborative city-building organization that ensures all of Downtown Denver’s stakeholders — businesses, employees, residents, and visitors — are connected. Their vision of togetherness projects Denver as one of the most economically powerful center cities in the country, and by all accounts, they’re making it happen.And then there’s Galvanize, a Denver-based tech education business that combines classroom space with co-working areas and community-building events for startups. Galvanize has 8 offices nationwide, but keeps Denver as it’s flagship area thanks to the cohesive community. Case in point: This month Galvanize is teaming up with Salesforce to host a Business Growth conference in Denver on June 14; anyone curious about using technology to connect systems and serve customers can attend for free.Wondering where AI fits into all this helpfulness? Here’s a company that combines both: Iterate.ai is a platform that connects executives with entrepreneurs through an AI-based search engine matching enterprise challenges with startup success stories. “Our team is based both the Silicon Valley and Denver. We were drawn to Denver thanks to its easy-going lifestyle yet thriving business community, particularly when it comes to IoT,” said Iterate Studio Co-founder and Chief Digital Officer Brian Sathianathan.A New Kind of Tech TownMaybe it’s the entrepreneurial spirit or maybe it’s that Rocky Mountain air, but great things are happening in Denver. It’s positively a new kind of tech town — one that’s collaborative, friendly, and booming with innovation.last_img read more

West Bengal CM Mamata Banerjee congratulates Leander Paes for Rio ticket

first_imgWest Bengal Chief Minister Mamata Banerjee on Saturday congratulated tennis star Leander Paes for making it to his seventh straight Olympics.Congratulations @Leander for being selected for the Olympics for the seventh time. A great honour Mamata Banerjee (@MamataOfficial) June 11, 2016Paes was named with Rohan Bopanna as the Indian men’s doubles pair which would be travelling to Rio in August by the All India Tennis Association (AITA) selection committee.Bopanna and Sania Mirza were picked for the mixed doubles while Sania will partner Prarthana Thombare in women’s doubles.Paes who now has 18 Grand Slams to his credit was born in Kolkata. He started playing tennis here as a child and later shifted to Mumbai.last_img read more