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Ramaphosa signs R12-billion ‘solar and wind’ energy deal

Category News Flash

Ramaphosa’s spokesperson Khusela Diko confirmed that‚ during his visit‚ the president had managed to secure a $10-billion (about R132.8-billion) investment in Saudi Arabia‚ a commitment which will be a boost to his goal of attracting $100-billion.

“It’s a fantastic commitment from Saudi Arabia‚ especially coming in the aftermath of the president’s call to have $100-billion of investment in the next five years‚” said Radebe.

He said the Saudi Arabia energy minister‚ Khalid al-Falih‚ was deeply committed to cooperating with South Africa in the energy sector.

“As a result of that‚ already we have signed a big deal on the renewable side of R12-billion with Redstone and ACWA‚ which is a Saudi Arabian energy company‚ in partnership with the Central Energy Fund for renewable in terms of solar and wind‚” said Radebe.

Source: Times Live

Author: Aphiwe de Klerk

Submitted 16 Jul 18 / Views 732