Africa-focused independent power producer Globeleq is to acquire Brookfield Asset Management’s interests in a South African renewable energy portfolio, involving six projects with a cumulative capacity of 178MW.
South African utility Eskom and German Development Bank KfW have signed a US$100 million (~R1.35 billion) loan facility that will go towards improving the transmission network to support grid integration of renewable energy projects after 27 power purchase agreements (PPAs) were signed in April.
Independent solar power producer Scatec Solar has confirmed it had signed Power Purchase Agreements (PPAs) on three solar PV plants in South Africa totalling 258 MW.
PV Tech recently highlighted that the South African government has finally signed a total of 27 PPAs after long-running saga of delays.
US-headquartered high-efficiency PV module producer SunPower Corp has announced plans to reduce its workforce by 3%, due to the Section 201 trade case decision by US President Trump to impose new import tariffs of solar cells and modules imported into the country.
Whilst African solar is still firmly an emerging market, investors have confirmed that issues remain with development finance, insofar as it is holding back the market from truly taking off. Whilst development finance institutions (DFIs) are a crucial part of allowing the market to find its feet, the continent’s economic infrastructure needs to move beyond the realm of development finance for commercial financiers to be enticed.
Breaking up Eskom’s monopoly in South Africa’s power market is not the answer to signing the outstanding PPAs under the country’s renewable energy procurement programme, a representative from the Department of Energy (DOE) has said.
The National Energy Regulator of South Africa (NERSA) has launched an investigation into Eskom’s ongoing refusal to sign outstanding PPA contracts under the country’s renewable energy procurement programme (REIPPPP).