Eskom will be signing off on the 27 renewable energy projects today in the wake of a failed court bid by NUMSA, a local workers union, to have the projects blocked. NUMSA cited massive job losses in the coal industry if the renewable energy projects were to go ahead. The projects are expected to be signed today – 4th April 2018.
The 27 projects have been in limbo for the past 2 ½ years and their finalisation will reinstall investor confidence in the renewable energy sector in the country. The projects are expected to bring in around R56 Billion in infrastructure investment plus create over 60000 jobs during the two year construction phase.
The low key signing will bring much relief to Independent Power Producers who have sustained large financial losses due to the extended delays. It also marks the commitment of the country’s new leadership under Cyril Ramaphosa to renewable energy and its inclusion in the energy mix.
Author: Bryan Groenendaal