Eskom postpones IPP signing with Redstone

Johannesburg – Eskom postponed the signing of a 20-year power purchase agreement (PPA) with Redstone Solar Thermal Power Project, intended to happen on Thursday July 28 2016.

The agreement would have seen Eskom buy 100 MW from the project for an estimated R50bn for the duration of the contract, according to a statement by the power utility.

The reason for the postponement was due to conditions by both parties not being fulfilled. Eskom spokesperson Khulu Phasiwe was not able to share what those conditions were.

This follows reports that Eskom indicated it will prevent any further power purchase agreements with South Africa’s Independent Power Producers (IPPs) without engagement over the matter.

Read full story: Fin24