Eskom to sign 27 renewable energy deals this week

Energy minister Jeff Radebe said Eskom will sign agreements with 27 renewable energy projects this coming week, according to the City Press.

The deals are expected to involve R56 billion in capital expenditure, and Eskom chairperson Jabu Mabuza said the company will soon discuss the details of the announcement.

The renewable energy projects will add 2,305MW of electricity capacity once they enter commercial operation in 2020.

“These projects will provide 61,600 full-time jobs, of which 95% will be for South Africans, mostly during plant construction,” said Radebe.

SA Renewable Energy Council chairperson Terence Govender told the City Press it would take two to five months after the deals are signed for project construction to begin.

Radebe added that he would also like to see two projects under the coal IPP programme signed, along with 19 other renewable energy projects which would be announced in the future.

“Together, this will achieve a further R103 billion of investment in the economy with substantial foreign direct investment,” he said.

The announcement comes after allegations of mismanagement and corruption at Eskom, which were reflected in its financial results.

Eskom expects a loss of R8.1 billion in the short term, which is set to balloon to R26.5 billion in the medium term.

Now read: Eskom refuses to reduce staff

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Eskom to sign 27 renewable energy deals this week