Government signs R56 billion renewable energy deal which will create 58 000 jobs

Government signs R56 billion renewable energy deal which will create 58 000 jobs

- Energy Minister Jeff Radebe has signed a deal with 27 independent power producers

- The R56 billion deal was finally signed after more than 2 years of delays

- The deal will create about 58 000 jobs and add 2 300 megawatts of renewable energy to South Africa’s power grid

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Energy Minister Jeff Radebe has finally signed a much-hyped and much-delayed renewable energy deal with 27 independent power producers.

The R56 billion deal was finally signed after being delayed for more than two years. The deal is the first major investment deal of President Cyril Ramaphosa’s administration.

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The deal will create about 58 000 jobs and will provide South Africa with an additional 2 300 megawatts of renewable energy to South Africa’s power grid.

Briefly.co.za discovered that the project will create 15 new solar and wind farms in the Northern Cape, four more wind farms will be built in the Eastern Cape, two wind farms will be built in the Western Cape and a hydro project in the Free State.

Chairman of Sola Future Energy, Chris Haw, said the project will actually contribute to a reduction in energy costs to the consumer.

“The signing shows that the government is committed to the country’s economic developments. Renewables are cheaper and more sustainable forms of energy,” he said.

Radebe conceded that the long delay in signing the project had an adverse effect on the renewable energy sector and would have blunted investor confidence in South Africa.

The deal was signed after a court rejected a bid by Numsa and Transform RSA to have the deal stopped. Numsa claimed the deal would threaten the work security of thousands of coal miners.

READ ALSO: Golden start for Team SA: Henri Schoeman wins triathlon at Commonwealth Games

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Source: Briefly.co.za

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