• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 1 hour Would bashing China solve all the problems of the United States
  • 21 mins Model 3 cheaper to buy than BMW 3 series.
  • 1 hour Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 30 mins Pompeo's Hong Kong
  • 11 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 1 day China to Impose Dictatorship on Hong Kong
  • 1 hour Thugs in Trumpistan
  • 5 hours China’s Oil Thirst Draws an Armada of Tankers
  • 21 mins Income report showing potential future spending and economic growth
  • 7 hours China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 2 days Iran's first oil tanker has arrived near Venezuela
  • 1 hour US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
  • 2 days Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 2 hours The CDC confirms remarkably low coronavirus death rate. Where is the media?
  • 1 day 60 mph electric mopeds
Deja Vu: OPEC's Recurring Oil Production Dilemma

Deja Vu: OPEC's Recurring Oil Production Dilemma

Saudi Arabia, OPEC’s largest producer…

South Africa Approves $5.4 Billion Investment in New Renewable Energy Projects

South Africa is one of the most coal dependent countries in the world, generating around 85% of its 41GW electricity demand from coal fired power plants, making South Africa the largest polluter in Africa, and one of the 20 largest in the world.

As a step to rectifying that, the country’s energy minister has just announced that $5.4 billion of funding has been approved to build 28 solar, wind, and geothermal projects, which will add an extra capacity of 1.4GW of renewable energy generation to the grid.

This project represents the first of five auctions that the government will hold as part of its Renewable Energy Independent Power Producers Program. The program will see 3.725GW of renewable energy projects installed by 2016. The contracts for the first phase will be signed on November the 5th and the plants will start producing power around 2014-2016. The second round of contracts has also been named with a price of $3.3 billion, and a capacity of 1.04GW; the whole deal should be finalised by March 2013.

These steps to develop renewable energy, although small in comparison to the total capacity of power demanded by the country, offer hope that South Africa may indeed be trying to turn its back on fossil fuels.

Although, looking at the larger picture that hope is quickly dashed. South Africa is in the middle of a large scale energy expansion, which will also see 2.5GW of new coal plants, 2.6GW from hydropower, 2.5GW from natural gas, and 9.6GW from nuclear power plants.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News