Photographer: Waldo Swiegers/Bloomberg
South Africa Clean-Energy Finance Has Ground to a Halt: ChartBy
A South African government program that produced the world’s fastest-growing renewable-energy market has screeched to a standstill, with asset financing for projects plunging to $4 million this year, according to data compiled by Bloomberg New Energy Finance. The decline stems from state power utility Eskom Holdings SOC Ltd.’s refusal to sign government-guaranteed purchase agreements with independent producers, leaving developers in limbo. President Jacob Zuma on Thursday failed to give an update on the projects, despite expectations raised by Energy Minister David Mahlobo.
— With assistance by Dean Hope Robertson