Prospective Eskom rivals falter as projects fail
the projects awarded under the relaunch of South Africa’s renewable power purchase programme have failed, two government sources said, undermining plans to use wind and solar to ease the power crisis.
The problem was that we put all our eggs in one basket. You can’t do projects at such low tariffs. It’s stupid “The problem with bid window 5 was that we put all our eggs in one basket,” the second official said. “You can’t do projects at such low tariffs. It’s stupid.”Both sources asked not to be named as they were not authorised to comment publicly on the matter. The energy department, which oversees the renewable rounds, did not respond to an e-mail seeking comment.
Responding to questions, Ikamva said higher interest rates, the increased cost of energy and other commodities, as well as the slower production of equipment post-pandemic had impacted its calculations. Four more projects — three belonging to France’s Engie and one from South Africa’s Mulilo — have a financial closure deadline of 30 September.
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