http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.87Change: 0.05
R/$ = 12.66Change: 0.03
Au 1091.62 $/ozChange: 0.17
Pt 956.00 $/ozChange: -10.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Aug 16, 2012

DoE to begin closing first renewables projects, but hints to extension beyond Aug

Back
Construction|Johannesburg|Eskom|Projects|Renewable Energy|Renewable-Energy|Energy|Renewable Energy Capacity|Dipuo Peters|Nelisiwe Magubane|Power
Construction||Eskom|Projects|Renewable Energy|Renewable-Energy|Energy||Power
construction|johannesburg|eskom|projects|renewable-energy|renewable-energy-company|energy|renewable-energy-capacity|dipuo-peters|nelisiwe-magubane|power
© Reuse this



The Department of Energy (DoE) announced on Thursday that it expected to begin concluding outstanding financial-closure agreements with the first 28 wind and solar bidders named in December as preferred bidders under the Renewable Energy Independent Power Producer Programme (REIPPP) from the middle of next week, and that it aimed to complete the process by the end of August.

The signing, which was initially scheduled for mid-June, would open the way for the construction of projects representing a collective investment value of around R46-billion and a collective capacity of 1 415 MW. Under the REIPPP, the DoE was seeking to procure 3 725 MW of renewable energy capacity for delivery between 2014 and 2016.

However, the director-general Nelisiwe Magubane also indicated at a bidders' conference in Johannesburg that the DoE would be sending requests to bidders for an extension of the bidding period beyond the August 31, 2012 bid validation period – effectively cautioning the financial-close period could well extend beyond that date.

She indicated that the delay had related primarily to internal authorisation processes within government, including the firming up of government guarantees for Eskom, which would be the buyer of the power over a 20-year horizon. She said the readiness of bidders to close would only become apparent once it moved towards actual signing.

It is understood that agreements involved copious amounts of information and were complicated further by the fact that bidders would be approaching financiers to align hedging arrangements with the actual financial-close date. Therefore, those close to the process warned that it was unlikely that all 28 projects would be cleared by the end of August.

Energy Minister Dipuo Peters said the process had been ground breaking, but that every effort was being made to advance the window-one projects towards closure.

It was also indicated that the bid closure date for the third window had been maintained as October 1, 2012, and that the financial closure deadline of December had been sustained for the 19 window-two bidders, which were named earlier this year.

Peters also announced that she would be issuing a further declaration “soon”, extending the amount of capacity to be procured beyond the 3 725 MW already in process.
 

Edited by: Creamer Media Reporter
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Renewable Energy News
Us President Barack Obama
Updated 6 hours ago Alpha Natural Resources Inc, one of the largest US coal companies, became the latest in the hard-hit industry to seek bankruptcy on Monday. The move comes as President Barack Obama is expected to unveil tough new measures to cut greenhouse gas emissions from...
This eight-page brief is a synopsis of key developments in the electricity industry over the past 12 months, including details of South Africa’s constrained power system; State-owned power utility Eskom’s financial status and tariffs, capacity expansion programme,...
A “record” $700-million in guarantees has been secured from the World Bank for Ghana’s Sankofa gas project to advance the West African nation’s energy transformation. The World Bank approved a $500-million International Development Association payment guarantee to...
Article contains comments
Article contains comments
More
 
 
Latest News
Updated 3 minutes ago South Africa has been shortlisted by The European Outsourcing Association (EOA) for the Offshoring Destination of the Year 2015 award, competing against Bulgaria and Latvia. Now in its sixth year, the EOA Awards recognised and celebrated the efforts of companies who...
Trade and Industry Minister Dr Rob Davies
Updated 45 minutes ago South Africa planned to offer five reasons as to why it should retain its status as an African Growth and Opportunity Act (Agoa) beneficiary during public hearings scheduled for Friday in Washington DC. The US House of Representatives passed a ten-year extension to...
Updated 51 minutes ago The Competition Commission on Tuesday approved telecommunications giant Telkom’s buy-out of Business Connexion (BCX) with conditions. The conditions included a price freeze on affected products in the upstream by Telkom, a limit on the number of job losses arising...
More
 
 
Recent Research Reports
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
Real Economy Insight: Automotive 2015 (PDF Report)
Creamer Media’s Real Economy Year Book comprises separate reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, gold, iron-ore and platinum sectors.
Real Economy Insight: Water 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Construction 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Electricity 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Road and Rail 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
 
 
 
 
 
This Week's Magazine
Daimler truck test engineer Dirk Stranz pushes one button, and then retracts his hands from the steering wheel of the Mercedes-Benz Future Truck 2025. “And now the truck is driving itself.”
The statutory body responsible for skills development and support in the banking sector, BANKSETA, was investing R68-million in the capacity building project of the University of Venda (UniVen), announced Bankseta company secretary Caroline King at a media event in...
LIONEL MOYAL Cloud services providers must compete against other cloud services providers for business by providing up-to-date systems and services
Legacy information technology (IT) systems are becoming increasingly obsolete because of the maturity, efficiencies and cost effectiveness of cloud-based IT services, says information and communication technology major T-Systems subsidiary Intervate head Lionel...
ARMANDÉ KRUGER Balancing the collection and processing of data must be aligned to strategy
Many complementary services enable companies to derive broad value from data inside and outside them. The complexity of data management means that companies’ strategies determine the various data systems and functions they will use, says PBT Group regional sales...
The South African Civil Aviation Authority (SACAA) has announced that it had awarded the country’s first remotely piloted aircraft systems (RPAS) pilot’s licence. It was issued on Friday, July 10, to SACAA employee and qualified commercial pilot Nicole Swart,...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96