SOUTH AFRICAN ENERGY MINISTER SIGNS RENEWABLE ENERGY AGREEMENTS WITH INDEPENDENT PRODUCERS

PRETORIA– South African Minister of Energy Jeff Radebe has finally signed the agreements for 27 renewable energy projects with Independent Power Producer (IPPs).

Also signed here Wednesday were the Power Purchase Agreements (PPAs) between the IPPs and national power utility Eskom.

The 27 projects are worth a total of 56 billion Rand (about 4.7 billion US dollars) in new direct investments in the energy sector and will create 58,000 jobs. The projects will benefit mostly rural areas and their communities.

The Minister said the agreements would bring much needed policy and regulatory certainty and maintain South Africa’s position as an energy investment destination of choice.

Some labour unions earlier went to court over the matter complaining that the projects would lead to job losses in the coal mining sector.

Source: NAM NEWS NETWORK