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R47b investment in renewable energy ready to roll

6 Nov 2012

The Department of Energy says it is expecting R47b to be invested in the country through Window 1 of the Renewable Energy Independent Power Producer Programme (REIPPP), Allafrica.com reports. Window 1 sought 1 400 megawatts of renewable energy. The outline for the first 28 preferred bidders (in wind and solar projects) is now in place and the department says it is ready to sign contracts with the bidders, which will unlock the massive investment.

Energy Minister Dipuo Peters said the department had been working closely with the preferred bidders in Window 1 to conclude all contract documentation. "I'm pleased to announce that the country will receive about R47 billion of investment in renewable power generation through Window 1 preferred bidders," she said.

The country's Integrated Resource Plan (IRP2010) - a 20-year projection on electricity supply and demand - stipulates that about 42% of electricity generated in South Africa is required to come from renewable resources. According to Allafrica.com, the investment will provide job opportunities, especially for those in rural areas, where renewable power plants are located.

Read the full article on allafrica.com.