Government will join hands with 27 Independent Power Producers (IPPs) for a R56 billion investment in renewable energy projects next week.
The partnership with the IPPs will include Eskom as a state entity and the Development Bank of Southern Africa.
Most of the projects are expected to be solar power plants. Newly appointed Minister of Energy Jeff Radebe has told journalists in Cape Town that the energy investment will be a major boost to the country’s economy over the next two to three years.
“Ladies and gentlemen, we have reached this milestone following a long period of uncertainty. However with this signing next week we are reconfirming government’s full commitment not only to renewable energy but also our solid partnership with the private sector to pursue our objectives energy transition into the future. As you have seen over the past few years, a partnership with the private sector led by the civil society where we support each in our different roles is crucial great benefit to our country and our economy,” Minister of Energy, Jeff Radebe said.
The projects will create 61 600 new jobs, the first of which will become available from July this year.