The second time is a charm at least for South Africa as its latest bid round of the IPP Procurement Program has resulted in 79 new offers. The round closed in March with the Department of Energy receiving bids totaling about 3.2 GW of potential power. “Bidders with good prices and higher economic development have a higher chance of succeeding, subject to having met the qualification criteria,” said Energy Minister, Dipuo Peters. The winners of this latest round will be announced in May, but Peters indicated that initially proposed allocations may change if some technologies were found to be under or over-priced.
In November, South Africa announced that it had received 53 bids valued at $12 billion to build 2.1 GW of renewable energy projects. The deadline for these companies to meet the deadline for financial close is in June with some developers securing capital from the African Development Bank (AfDB), Absa Bank, Standard Bank, and the World Bank’s lending arm IFC.
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