South African renewable energy projects selected over a year ago to add generation from private producers and help end electricity shortages are struggling to reach financial close due to an escalation in costs, according to one of the developers. A dozen projects, with a combined capacity of more than 1 000 megawatts, remain hamstrung because of increases in financing and other charges, said Globeleq Chief Executive Officer Mike Scholey.
The delays come as the most industrialised nation on the continent suffers from record power cuts due to breakdowns of state-owned Eskom’s mainly coal-fired units. Performance has deteriorated even as the government outlines measures to improve the situation. Projects have also been sidelined due to a lack of connections to the national grid.
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High costs stall South African renewable energy projectsSouth African renewable energy projects selected over a year ago to add generation from private producers and help end electricity shortages are struggling to reach financial close due to an escalation in costs, according to one of the developers.
Source: TimesLIVE - 🏆 28. / 59 Read more »
High costs stall South African renewable energy projectsSouth African renewable energy projects selected over a year ago to add generation from private producers and help end electricity shortages are struggling to reach financial close due to an escalation in costs, according to one of the developers.
Source: TimesLIVE - 🏆 28. / 59 Read more »