Financial close for third window renewables projects shifted to November
Financial close for bid window three under South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) has been extended from the end of July to November, Energy Minister Tina Joemat-Pettersson revealed on Monday.
Delivering her Budget Vote in Parliament, the Minister said the decision to shift the deadline had been guided by factors such as the volatility of the rand and had been made following consultations with the National Treasury and the South African Reserve Bank.
“This will also allow Eskom to prepare adequately for the connection of these providers to the grid as planned,” she added.
Projects sanctioned under bid windows one and two, meanwhile, were “95% on track, with some 350 MW more green power that will come on line in this financial year in addition to the current 600 MW”.
Joemat-Pettersson also confirmed that the closing date for bid window four remained August 18 and that progress was being made to deal with constraints to the ‘Small Projects’, which would seek to procure power from projects that were between 1 MW and 5 MW in size.
The Department of Energy launched a process in 2013 to buy 200 MW from small-scale solar, wind, biomass and landfill gas projects. However the process had stalled as a result of “challenges” in securing the equity funding for the projects.
“The Department has taken the initiative to develop standard documents for these projects to reduce transaction costs, and proposed a dedicated fund to assist small independent power producers (IPPs) with transaction costs.
“I want to give the small IPP entities and developers the assurance that the fund will be up and running by February 2015,” the Minister said.
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