Eyeing economic growth, SA seeks to renegotiate old renewables projects
INTERNATIONAL – South Africa has started discussions with power producers to try to get cheaper electricity from some older renewable energy projects and give the economy a boost, several participants in the talks say.
But participant power firms – some of which are backed by big names such as EDF Renewables – say they can’t give the government big savings on many of the 64 solar and wind projects that are part of the discussions, because most of the money has already been spent.
Putting too much pressure on them would risk deterring renewable energy investment just as the country is suffering nationwide power cuts. Business confidence is weak after corruption scandals under former president Jacob Zuma.
Source: iol.co.za