What is the value of investing in renewable energy?
Author: Paschal Phelan, Solar Capital Chairman
The success of the Department of Energy’s (DoE) Renewable Energy Independent Power Producers Procurement (REIPPP) Programme is a shining example of South Africa’s ability to undertake large infrastructure programmes to boost the local economy despite the current period of slow growth internationally. This public-private partnership programme has allowed for energy growth and successful private investment, which contrasts with a number of other international renewable energy programmes that have faced difficulties and setbacks.
According to Paschal Phelan, Solar Capital Chairman, the renewable energy developers involved in the REIPPP Programme have funded their facilities largely through independently sourced international investors and local banks making these projects viable in the SA market. “About ZAR47 billion of the programmes awarded bidder status reached financial close in the first round and ZAR28 billion in the second round of the REIPPP Programme.”
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