Two major South African renewable energy players, African Clean Energy Developments and EIMS Africa, have merged to form Anthem, positioning the entity as the country’s largest independent power producer (IPP). The new company has ambitious plans, targeting 6 GW of solar, battery, and wind energy capacity by 2030.
Read: Watch this electric hypercar beat the Bugatti Chiron speed record
Anthem CEO James Cumming confirmed the company currently manages a live project portfolio totalling around 2.7 GW, with 1.1 GW already operational, comprising wind and solar generation.
Anthem is actively preparing for the launch of the South African Wholesale Energy Market (SAWEM), which is slated to go live in April 2026. SAWEM is a crucial part of the new Electricity Regulation Amendment Bill that effectively ends Eskom’s century-long monopoly on electricity generation.
The new market is designed to provide direct access for generators and large users, aiming for more competitive and transparent pricing. While it offers opportunities for innovation with new products and greater liquidity for managing excess energy, Anthem acknowledges the challenges, including price volatility and regulatory uncertainty.
“Our scale, diverse portfolio, and strong balance sheet position us to thrive in SAWEM,” Anthem stated. Chief Commercial Officer Mike Wickens added that the company is fully committed to the market, viewing it as an opportunity to grow assets and contribute to the sector’s transformation.
Cumming stated that Anthem is actively developing projects for the private market, with 450 MW currently under construction and more planned for the near future. While commercially sensitive, he stressed that Anthem can typically beat conventional power providers on pricing, even with the inclusion of battery energy storage.
“It’s competitive power. It’s no longer an alternative. We’re in the mainstream. It just makes economic and environmental sense,” Cumming said.
The Minister of Electricity and Energy, Kgosientsho Ramokgopa, believes the Bill’s passage and the subsequent creation of an open market will benefit consumers. He anticipates that the competition among multiple power providers will lead to a “semi-price war,” potentially marking the end of “extraordinary” electricity tariff increases in the country. The move is also expected to encourage greater investment and technology adoption in the sector.
