The New Age Online
4 October 2011: South Africa’s $10bn (R83bn) renewable energy programme would likely draw bids for only about half the 3725MW on offer by the November4 deadline, even though developers registered interest to build seven times that capacity, a Standard Bank Group official said.
“Most bidders won’t be ready,” Alastair Campbell, head of power finance at Africa’s largest lender, said in Johannesburg. Only projects that were already at a “fairly advanced” stage when the government called for proposals in August were likely to meet next month’s deadline.
He said the full offer was expected to be met by the second bidding window, in March.
South Africa plans to announce the first successful bidders before the November 28 start of the UN Climate Change Conference in Durban. The country is looking to boost renewable energy as a proportion of overall power generation as it becomes increasingly difficult to fund coal projects because of climate concerns.