Electricty

SOUTH AFRICA SIGNS DEAL TO PRODUCE MORE ELECTRICITY

Posted on by Gambeta News
SOUTH AFRICA SIGNS DEAL TO PRODUCE MORE ELECTRICITY

South Africa to generate more energy with US$4.6bn IPP deal Minister of Energy in South Africa, Jeff Radebe have signed a US$4.6bn contract with 27 independent renewable energy power producers. This contract is to enable the generation of additional 2300 MW of electricity over the next five(5) years. This agreement have had so much delays including a last-minute court challenge. So it is indeed a milestone following a long period of uncertainty. According to the minister the new 27 projects is…

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MOODY’S DOWNGRADE SOUTH AFRICA’S ESKOM

Posted on by Gambeta News
MOODY’S DOWNGRADE SOUTH AFRICA’S ESKOM

Eskom recently downgraded by rating agency Moody’s. Eskom’s long term collective family rating has downgraded by the Global ratings agency Moody’s. The downgrade was from B1 to Ba3 with warning that the ratings remains under review. The rating agency pegged the downgrade to Eskom’s falling liquidity and the the ability of the government to provide balanced support to the difficulties faced by electricity parastatal. In an attempt to resolving the ongoing downgrade, a new  Deputy President…

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