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BluEnergy Trading has been granted a multi-year energy trading licence by the National Energy Regulator of South Africa (Nersa), JSE-listed Blu Label Unlimited confirmed on Tuesday.<\/p>\n
\u201cThe approval positions BluEnergy to play a central role in South Africa\u2019s power sector reform agenda which aims to increase private sector participation, enhance energy security and accelerate the transition to renewable energy,\u201d it said.<\/p>\n
Read:\u00a0Moment of truth for South Africa\u2019s electricity reform<\/p>\n
BluEnergy is a subsidiary of the Blu Label Unlimited group.<\/p>\n
\u201cThis marks a significant regulatory milestone that empowers BluEnergy to deliver innovative renewable energy solutions across the energy value chain,\u201d it said in hailing the move.<\/p>\n
This would enable the company \u201cto connect with municipalities, IPPs [Independent Power Producers] and energy users, ensuring a more resilient and cost-effective energy supply for local communities,\u201d it noted.<\/p>\n
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\u201cBluEnergy\u2019s execution and delivery capability is underpinned by its partnership with Cigicell \u2013 the leading provider of prepaid electricity vending and revenue assurance systems embedded in more than 95 municipalities across nine provinces,\u201d Blu Label Unlimited added.<\/p>\n
Aaron Suckerman, BluEnergy\u2019s CEO, said the licence was a critical enabler of the group\u2019s strategy.<\/p>\n
\u201cWe are removing the barriers to entry and providing municipalities with a secure, long-term solution for their energy needs.\u201d<\/p>\n
Read:
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Blu Label share price<\/strong><\/p>\n How it works<\/strong><\/p>\n The company operates through specialised entities spanning project development: asset ownership, operations and maintenance, and energy procurement and trading.<\/p>\n ADVERTISEMENT:<\/p>\n CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n \u201cThis robustly integrated approach enables BluEnergy to manage the technical and commercial aspects of energy delivery, grid integration, wheeling frameworks and contractual performance. The model is designed to support localised generation and efficient energy flows, offering end-to-end solutions for municipalities and energy users,\u201d Blu Label Unlimited explained.<\/p>\n \u201cEnergy accessibility is a foundational marker of economic growth and social development,\u201d said Mark Levy, co-CEO of Blu Label Unlimited, who is responsible for spearheading the group\u2019s energy initiatives.<\/p>\n<\/blockquote>\n \u201cBlu Label\u2019s strong balance sheet and fintech capabilities positions the business to deliver sustainable energy solutions at scale while contributing meaningfully to national energy transition and decarbonisation,\u201d he added.<\/p>\n Read: With regulatory approval now secured, BluEnergy said it will focus on building out its project pipeline and operationalising its energy trading activities.<\/p>\n * Phenyo Selinda is an intern at Moneyweb.\u00a0<\/em><\/p>\n Follow Moneyweb\u2019s in-depth finance and business news on WhatsApp here.<\/em><\/p>\n<\/p><\/div>\n\n
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