Strong support for South Africa’s renewables model as first deals are concluded
6 November 2012
Creamer Media's Engineering News - There was an overwhelmingly positive reaction from developers, investors, financiers and suppliers on Monday, November 5, to the eventual signing of the agreements needed to facilitate the entry of the first large-scale renewable-energy projects into South Africa, some of which should begin producing during 2014.
By midday, the South African government, Eskom and the independent power producers (IPPs) began physically signing the power purchase, implementation and direct agreements for projects, collectively representing an investment value of around R47-billion and wind and solar capacity of around 1 415 MW.
Department of Energy (DoE) director-general Nelisiwe Magubane was designated by Energy Minister Dipuo Peters to sign the implementation agreements on behalf of government, while Eskom executive Kannan Lakmeeharan initialled the power purchase and direct agreements with the 28 IPPs – a process scheduled to continue for about six or seven hours.