NC To Benefit From R56 Billion Renewable Energy Investment
ENERGY MINISTER TO ANNOUNCE RENEWABLE ENERGY BIDDERS BEHIND R56 BILLION INVESTMENT SET TO BENEFIT NORTHERN CAPE IN THE MAIN
Minister of Energy Jeff Radebe will reignite South Africa’s renewable energy pursuit by announcing the winning bidders behind the delayed Bid Window 3.5 and 4 worth a whopping R56 billion in direct foreign investment tomorrow. The move comes amid the power utility, Eskom’s, reneging which resulted in an industry backlash of job losses and policy uncertainty.
South Africa’s globally renowned Independent Power Procurement (IPP) programme would have since its inception raked in an amount beyond R240 billion in direct foreign investment with the latest round included.
The new dawn has further been crystallised by the Minister stating that the move bears the backing of President Cyril Ramaphosa, Eskom and cabinet colleagues relevant to the processes concerning renewable energy procurement. The end of the impasse will certainly also put the Northern Cape as South Africa and Africa’s solar hub back into the spotlight.
The Minister pointed out in statement that the bulk of the IPPs set to go into construction will be in the Northern Cape. “These projects will provide 61 600 full time jobs of which 95% is for SA citizens, mostly during plant construction specifically with a focus on youth employment. Northern Cape will have 59% of the jobs created, followed by Eastern Cape with 15% and North West 13% of jobs created.”
The Minister is expected to be flanked by the Department of Energy’s Director General Mr Thabani Zulu and the department’s entity Independent Power Producer (IPP) head Ms Karen Brechtenbacht. The entity is the driving force behind the admired South Africa’s Renewable Energy Independent Power Producer Programme (REIPPP).