Dept: Renewable energy projects won't affect Eskom's balance sheet

Energy Minister Jeff Radebe says that on instruction from President Cyril Ramaphosa, he is on a mission to reignite economic growth in the sector.

Energy Minister Jeff Radebe briefs the media on the signing of 27 independent power producers on Thursday 8 March. Picture: Lindsay Dentlinger/EWN

CAPE TOWN - The Energy Department says that 27 new renewable energy projects will not affect Eskom's balance sheet.

Energy Minister Jeff Radebe gave the assurance at Parliament on Thursday that the agreements will be signed on Tuesday, despite apparent resistance in the past over cheaper energy when Eskom already has a surplus.

Radebe says that on instruction from President Cyril Ramaphosa, he is on a mission to reignite economic growth in the sector.

It’s been more than two years, but now after several delays, 27 renewable energy projects are expected to be signed next week.

Minister Radebe it’s necessary to build investor confidence in the sector.

“We’re going to be coming in the next 100 days on a programme of action on the things that are required to turn around this economy and to put energy at the centre and as a catalyst of that reigniting of the economic growth.”

Radebe says an announcement on the integrated resource plan, which will also outline government’s plan on nuclear energy, can be expected in the next week or two.