Minister Radebe also mentioned that 27 renewable energy projects would release R56 billion in investment that would boost the economy and create around 61,000 jobs. He said the renewable energy programme to-date had encouraged a diversified energy mix and provided many socio-economic benefits for the country.
He confirmed that the signing of agreements for 20 small renewable energy projects would also be finalised, attracting a further R2.7 billion in investment. He also noted that his department would soon begin working on the development of a gas market in collaboration with neighbouring countries in Eastern and Southern Africa. In South Africa’s role as the chair of the SADC and BRICS energy initiatives, it will explore optimal resource allocation and utilisation in the energy-water nexus through knowledge sharing and joint initiatives.
Minister Radebe confirmed in his statement that the two round one coal baseload IPP projects would go ahead. He noted the two projects, as well as 19 projects procured under the Renewable Energy Expedited Bid Window would attract another R103 billion in investment.
This positive statement of intent will boost economic growth and investor confidence as it acknowledges and reinforces the role to be played by the private sector in supporting South Africa’s economic transformation. Minister Radebe’s statement corresponds with the positive, investment-friendly messages that President Ramaphosa has been communicating over the last few weeks.
