Eskom expects net economic loss to South Africa from renewables for next five years

Amid growing frustration around the pending amendments to the Integrated Resource Plan and the impact this will have on future renewable-energy projects in South Africa, State-owned power provider Eskom on Wednesday revealed that the economy has suffered a R9-billion net loss for 2016, owing to a surplus of electricity capacity from solar photovoltaic (PV) and wind energy projects. The utility added that this net economic loss could last for the next five years, forecasting that there will be a surplus of electricity capacity to 2021.