South Africa to Conclude Review of Energy Plan by Mid-August
South Africa to Conclude Review of Energy Plan by Mid-August
(Bloomberg) -- South Africa’s Department of Energy is steadily working towards concluding the review of the Integrated Resources Plan, which will outline the country’s energy mix for the next 20 years, by no later than mid-August, the energy minister said.
“Finalization of this critical policy document and related Integrated Energy Plan is key towards ensuring policy certainty in the sector,” Energy Minister Jeff Radebe said in Pretoria on Thursday. The IEP provides a framework for electricity, liquid fuels and gas sectors, so that these plans are developed in a coordinated and integrated manner.
Radebe said he would ensure that governance issues at state-owned companies are stabilized. The department plans to diversify the country’s energy mix by having 30 percent clean energy by 2025, he said.
On April 4, Radebe signed agreements with 27 independent power producers after more than two years of delays. The deals promise to revive the nation’s renewable-energy program by releasing 56 billion rand ($4.5 billion) of investments over the next two to three years.
South Africa intends to build a refinery to address increased demand in the country, Radebe said. This builds on earlier discussions by government around increasing capacity to lower reliance on fuel imports.
The minister also said a review by the Boston Consulting Group of the Central Energy Fund, which manages the country’s energy assets, is imminent.
To contact the reporter on this story: Paul Burkhardt in Johannesburg at pburkhardt@bloomberg.net.
To contact the editors responsible for this story: Alastair Reed at areed12@bloomberg.net, Jacqueline Mackenzie, Liezel Hill
©2018 Bloomberg L.P.