The province will set aside R1.2 billion in “seed funding” for energy projects.
Gauteng MEC for finance Jacob Mamabolo says that the province will be budgeting R1.2 billion in “seed capital” for a host of projects to help the province escape load shedding and become more energy self-sufficient in the longer term.
Echoing the announcement by Gauteng Premier Panyaza Lesufi in February, Mamabolo said that R1.2 billion would be set aside by the Gauteng Provincial Treasury to fund energy projects in the province. To this end, he said the office of the Premier is working together with the Corporative Governance and Traditional Affairs , Gauteng Provincial Treasury and Gauteng Infrastructure Financing Agency to build in-house energy capacity to support efforts that the province and municipalities are making in finding lasting solutions to the current energy crisis.
So far, GIFA has identified six Independent Power Producers to develop 1,500 hectares of this allocated land, and this has the potential of generating 800MW, he said.
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