South Africa Plans To Build A $4 Billion Renewable Energy Project

- Jun 29, 2018-

South Africa is considering a new round of bidding for renewable energy projects aimed at attracting 50 billion rand ($4 billion) in investment and encouraging local industries, bloomberg reported.

It is reported that South Africa's energy minister Jeff Radebe, said in a meeting before the South African government has set up a separate power generation project planning, hope to build about 1800 mw of renewable energy projects, in November this year, the South African government will start the fifth round of bidding for it.

"We want to promote local manufacturing by building renewable energy projects and attracting investment to drive economic growth.""This will boost South Africa's domestic electricity industry and create a lot of jobs," Radebe said.

It is reported that the South African government had set a "attract $100 billion investment in the next five years" plan, South Africa department of energy (doe) is thus restored has been two years before the national renewable energy development plan.In April, South Africa's energy ministry signed agreements with 27 independent power producers.

Mr Radebe said the partnership with independent power producers would "look at different needs in the area where the project is located and assess the impact".He added that there were two other coal-fired power projects, which would also generate 40 billion rand of investment in South Africa.