"South Africa looks to create office to auction grid transmission projects"

" South Africa looks to create office to auction grid transmission projects \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\nThe government-owned Development Bank of Southern Africa (DBSA) is in talks with South African ministries to set up an office to manage auctions of power transmission projects, a bank executive told\u00a0 Bloomberg \u00a0in an interview published on Friday.\r\n\r\nThe bank is discussing with government departments the setting up of the office that is expected to bring private funding to link up renewable energy sources to the transmission grid. This \u201cneeds to be signed off by the different parties within government,\u201d Michael Hillary, the DBSA\u2019s group executive for financing operations, told Bloomberg.\r\n\r\nThe DBSA is a government-owned development finance institution, established in 1983, with the mandate to promote economic growth and regional integration for sustainable development projects and programs across the African continent.\r\n\r\nThe bank has previously created the Independent Power Producer Office, which it handed over to South Africa\u2019s Department of Mineral Resources and Energy. The Independent Power Producer Office has helped the development of utility-scale wind and solar power projects across South Africa.\r\n\r\nEskom, the state-owned utility of South Africa, is currently holding talks with the government on ways to attract public and private financing of the equivalent of\u00a0 $21 billion \u00a0for a major expansion of the power grid to accommodate an expected rise in renewable energy, the company told\u00a0 Bloomberg \u00a0last month.\r\n\r\nEskom has estimated that it needs $21 billion (390 billion South African rand) to fund its plan to build nearly 9,000 miles of new power lines over the next decade, which would be more than triple the miles of transmission lines it has installed in the past decade.\r\n\r\nCurrently, coal is the major energy source for South Africa, accounting for around\u00a0 80 percent \u00a0of the country\u2019s energy mix. The country is also the world\u2019s\u00a0 fifth-largest coal exporter .\r\n\r\nEskom plans to operate some coal-fired power plants\u00a0 for longer \u00a0than initially envisaged to avoid making an already vulnerable grid more unreliable, the company\u2019s CEO Dan Marokane said earlier this week.\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n "

"South Africa looks to create office to auction grid transmission projects"

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