RENEWABLES
Confidence hit as renewable energy programme signing delayed again
The signing ceremony was set to unlock billions of rand in funding for projects
Confidence in the previously successful renewable energy programme has taken another knock after the renewable-energy procurement office again postponed the signing of agreements with successful bidders in the past two rounds. The signing ceremony, which will unlock billions of rand in funding for the construction of about 50 projects in round four and for projects of 1-5MW was due to take place on Tuesday. Financial close for these projects has been awaited for about two years. Finalisation was delayed for months after former Eskom CEO Brian Molefe expressed concern about making this commitment due to costs to the utility and its power surplus amid weak demand. But former minister of energy Tina Joemat-Pettersson said in February the impasse had been broken. In his state of the nation address President Jacob Zuma said the outstanding power purchase agreements would be signed. Last week as part of the cabinet reshuffle Zuma appointed Mmamoloko Kubayi, a little-known backbencher, to ...
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