Photo by Reuters Reserve Bank Governor Lesetja Kganyago South African Reserve Bank (SARB) governor Lesetja Kganyago has lamented the prevailing uncertainty around South Africa’s renewable-energy procurement programme, which he heralds as the type of “no-brainer” structural reform that should be continued and expanded.
Speaking at a briefing of editors in Johannesburg, Kganyago noted that the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), which had facilitated nearly R200-billion in private investment, was held in high regard globally.
“When I visited Washington DC there is a big showcase at the World Bank stating that, any country that wants to know how to do a renewables independent power producer (IPP) programme, should look at South Africa. And then what do we do, we come back home and we say: ‘These IPPs we don’t want them anymore, they are not reliable’.”
The governor was referring to the prevailing uncertainty in the sector, which arose earlier this year when it emerged that Eskom was reluctant to sign power purchase agreements for projects already adjudicated following the most recent bidding rounds of the REIPPPP.
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Speaking at a briefing of editors in Johannesburg, Kganyago noted that the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), which had facilitated nearly R200-billion in private investment, was held in high regard globally.
“When I visited Washington DC there is a big showcase at the World Bank stating that, any country that wants to know how to do a renewables independent power producer (IPP) programme, should look at South Africa. And then what do we do, we come back home and we say: ‘These IPPs we don’t want them anymore, they are not reliable’.”
The governor was referring to the prevailing uncertainty in the sector, which arose earlier this year when it emerged that Eskom was reluctant to sign power purchase agreements for projects already adjudicated following the most recent bidding rounds of the REIPPPP.
Read more......
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