Project Information Memorandum (PIM) to be announced at the South Africa: Gas Options Conference in Cape Town this October
The Minister for Energy of South Africa, the Hon. Tina Joemat-Pettersson MP, is to exclusively present the much anticipated ‘Project Information Memorandum (PIM)’ at EnergyNet’s (www.EnergyNet.co.uk) annual South Africa: Gas Options investors briefing on the 3rd October in Cape Town. 540 participants are confirmed to attend the meeting, which will focus on the strategic implementation of the programme which has global players eager to participate.
The Minister was quoted as saying, “We are providing investors an opportunity to review the PIM and discuss with us directly any questions they may have ahead of us releasing the procurement documentation.”
Endorsed by the Department of Energy, the Gas to Power IPPP Programme will bring a new experience to South Africa, with Karén Breytenbach of the IPP Office commenting,
“Despite clear differences from the REIPPP Programme, the same unwavering commitment to secure investor confidence and partnership will be applied with the private sector, through a transparent, open, fair and competitive procurement process. We hope to achieve equal success with possibly greater impact on the economy and people of South Africa.”
The Gas to Power IPPP Programme has from the first phase the potential to generate an additional 34 000MW, and foreign direct investment to boost economic growth not just in South Africa but to the region, especially to countries with potential for gas. Economic growth is critical from a job creation and socio economic development perspective.
Simon Gosling of EnergyNet commented on what this announcement means for the industry. “What’s exciting about this programme, in addition to the extra capacity that will support Eskom in five-ten years from now, is the ability of the gas to reach new manufacturing industries for South Africa such as petrochemicals, that will create millions of jobs, unimagined wealth and a country which could as a result achieve its objectives to be a global destination for manufacturers and a gateway to all of Southern Africa.
President Zuma’s speech five years ago, which kick started the clean energy revolution in South Africa back in 2011, presented a stance which was global in sentiment but African in its call to action: “On the eve of the Climate Change Summit held in Copenhagen (June 2011), [we] announced our commitment to reduce our carbon emissions by 34% by 2020 and by 42% by 2025.. However we are not waiting for an agreement in Durban (Nov 2011) before achieving green, sustainable and inclusive growth. We have an ambitious renewable energy plan and will soon announce the results of the bidding process for the first 3.725 megawatts of green energy to be procured under our Renewable Energy Flagship Programme over the next few years.”
Fast forward five years and the REIPPP Programme has procured a total of 102 projects, adding 6,376MW of renewable power to the sector, injecting over R194 billion direct investment into the economy. Add to that the 27,000 jobs that have been created, and there is no wonder this is recognised throughout the world as the most successful clean energy procurement programme ever. The potential of the Gas to Power IPP programme is therefore huge for all South Africans and we should be remembering the President’s vision for clean energy, ensuring South Africa’s legacy on a global scale is secured.”
Source: South Africa: Gas Options
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