The New Development Bank, which was founded by BRICS countries in 2015, has announced that it will finance projects that are aimed at addressing electricity transmission capacity in South Africa.
An aerial picture shows the four natural-gas power plants"Gersteinwerk" of Germany's RWE Power, one of Europe's biggest electricity and gas companies near the North Rhine-Westphalian town of Hamm, Germany May 6, 2015.An aerial picture shows the four natural-gas power plants"Gersteinwerk" of Germany's RWE Power, one of Europe's biggest electricity and gas companies near the North Rhine-Westphalian town of Hamm, Germany May 6, 2015.
The New Development Bank, which was founded by BRICS countries in 2015, has announced that it will finance projects that are aimed atPresident Cyril Ramaphosa and the Minister of Electricity Kgosientsho Ramokgopa have both raised concerns about the challenges around the country’s transmission network.“We are surpassing our expectation in relation to the performance of the units. We are more than confidant that we should be able to survive the winter,” says Ramokgopa.
“If you don’t address transmission side of the generation, we are likely to end in even a much worse case scenario than is the case now,” Ramokgopa added.“On the transmission issue, as I said, we need to come up with a number of innovative ways to improve transmission of the grid to improve. So, we are going to have to come up with innovative ideas. Some of them we’ll be partnering with private sector,” says Ramaphosa.
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