The Johannesburg-based company ultimately has a target of adding as much as 5,000 megawatts of assets. It’s invested in more than 700 megawatts already and looking with partners at an additional 2,000 megawatts by the end of the second quarter next year.
“We’ve always thought we should build up scale” and create a significant energy company, said AREP Chief Executive Officer Brian Dames. That’s meant involvement in projects realized through South African government auctions to buy power as well as generation for commercial use. The company also plans to have capability as an operator.
AREP last year formed a joint venture with Absa Group Ltd., that together made up 6.5 billion rand of renewable assets, forming a fund known as African Rainbow Energy. Lifting the cap on the license exemption has dramatically changed the landscape for private generation, Dames said. Grid access remains one of the biggest challenges for South Africa to add more renewable energy.
Source: Energy Industry News (energyindustrynews.net)
Is this why they are sabotaging Eskom?
Very good but isn't it a bit anti-competitve?
LondiNkosi_ No surprises there
Rich become richer
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top 15 best-selling bakkies in South Africa right now – including fuel efficiencyThe 15 top selling bakkies in South Africa right now - including fuel efficiency
Source: BusinessTechSA - 🏆 24. / 61 Read more »
South Africa not getting new R500 bank note & R10 coin | The CitizenWith higher food & petrol prices, its unlikley that grappling South Africans will have to carry bags of cash just yet
Source: TheCitizen_News - 🏆 6. / 75 Read more »
The true cost of buying a house in South Africa, including hidden feesBuying a property is a huge financial commitment. Don’t get caught short by these frequently forgotten additional costs. David Jacobs, Gauteng regional manager for the Rawson Property Group, runs through all the expenses buyers need to prepare for, and shares a few cost-saving tips.
Source: BusinessTechSA - 🏆 24. / 61 Read more »
Theatre legend Kani turns eye to modern South AfricaWhen John Kani launched his acting career in the 1960s, the only stage he could find was an empty snake pit at a shuttered South African museum.... As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive,until I started Bitcoin trading with the help of Allison_Grillo I made a successful withdrawal of R 200,000 with the help of Allison_Grillo. Few months back I had no way of taking care of my kids , had no job or money also struggling through the pandemic,so I decided to try Bitcoin trading with the help of Allison_Grillo I was able to earn $50,000 now am financially stable.
Source: eNCA - 🏆 49. / 51 Read more »
Mondli Makhanya | The day South Africa rues | CitypressMondli Makhanya | The day South Africa rues: There is no question that Parliament failed the nation in 2016 when it whacked highly suitable candidates on flimsy and partisan grounds even before they could be seriously considered for this vital role Go on stratcom, change the narrative. We can see through you though. 'She is responsible for her downfall by protecting her bosses. Now nobody is helping her to get out of the firing line. she did not follow the Constitutional statutes. but her own common law.' Baba was in charge
Source: City_Press - 🏆 7. / 72 Read more »
Theatre legend John Kani turns eye to modern South AfricaTheatre legend John Kani turns eye to modern South Africa South African stage and movie actor John Kani, is now resuming a South African tour that was interrupted by the pandemic's theatre closures
Source: TheSAnews - 🏆 25. / 59 Read more »