South Africa is forging ahead with a plan to create a new state-owned power company by converting three coal-fired plants into gas-burning generators to ease the nation’s energy crisis.
South Africa has been struggling to boost generation since 2008. At least five rounds of bids for renewable power projects haven’t added sufficient capacity, while an emergency plan to add electricity is mired in legal wrangles. A new state electricity generation company is yet another attempt to find a solution to the crisis that has hampered economic growth in Africa’s most-industrialised nation.
Money for the new power generation company and its projects will come from a combination of the state, the market and investors."Money follows ideas," Mantashe said.Once the proposal is approved, the government will invite engineering, procurement, construction companies. The cost of converting the plants would be determined at that point, said Maduna Ngubeni, the department’s head of projects.
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Fin24 This is the man implicated in the state capture report, now he talks sbout Eskom 2.0
Fin24 'Generation 2 would be under Mantashe’s department, unlike Eskom, which is managed by the Department of Public Enterprises.'... and therein lies the clue...
Fin24 Please let this work and by gas from RenergenJHB
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Fin24 May the hon Mantashe let the country in on who stands to get a big chunk of the envisaged cash-flow into this venture and which international company seeks fronting-politically connected individuals to start construction? What about paying recently completed coal power stations?
Fin24 It took 15 yrs to build Medupi which is still not working properly, and how do we jump to the next project if we can't even finish and fix the existing ones, we need an engineer as an energy minister not 70 yr old unionist, Cadre no Cadre doesn't matter
Fin24 Generation 2 of looting..
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Source: BDliveSA - 🏆 12. / 63 Read more »