South Africa is fortunate in that, over and above its rich coal resources, it is also well endowed with non-depletable renewal energy sources, notably solar and wind. The country has an average of more than 2,500 hours of sunshine per year and average direct solar radiation levels range between 4.5 and 6.5kWh/m2 per day, placing it in the top-3 in the world.
The Renewables and Energy Forum for Southern Africa, taking place at the Johannesburg Stock Exchange in South Africa from 10- 11 May, is growing to be a key meeting of stakeholders driving development in renewables and energy in the region. The event covers topics such as the gas-to-power programme, coal IPP programmed, co-generation, the Renewable Energy Independent Power Producer Procurement Programme, possible funding options, and regional integration. The event also offers specialist workshops where attendees gain detailed insights in the bidding process, across compiling a successful economic development strategy, legal compliance, finding an EPC and O&M contractor, and managing risk.
Standard Bank is a silver and funding session sponsor for the conference and our Head of Power in Corporate and Investment Banking- Rentia van Tonder, and Manager of Power and Infrastructure Finance- Sherrill Byrne, will be speaking at the event.
The success of the RenewableEnergy Independent Power Producer Procurement programme (REIPP) in South Africa has been celebrated as a victory for alternative energy generation in Africa.
We recognise the importance of renewableenergy and have assisted in financing more than 40% of the approximate 1 760 MW currently provided by the REIPPPP, initiated in 2011. The REIPPPP has resulted in the allocation of power purchase agreements for 92 projects after four rounds of bidding, with the projects that have already been connected to the grid currently contributing about 1 760 MW to South Africa’s total generating capacity.
We have also provided finance for 14 producing renewable energy projects,(1 project will reach COD early June, 2 projects are either still in the construction phase and 7 still to reach financial close), which deliver power to South Africa through state-owned power utility Eskom’s main power grid, helping to alleviate the national energy shortage. These projects comprise wind and solar projects, providing a total of more than 710 MW. Of the 15 projects, nine are solar PV and five are wind projects.
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