It’s not the first time government has made last- minute changes to prices at which it would buy power. Last year, the renewable energy feed- in tariffs were lowered just before submissions of proposals were due.
The department of energy is in discussions with most of the renewable energy projects chosen in the first round of bids for participation in its independent power producers programme, asking if the prices in the agreements can be lowered.
This comes at a time when these projects are pushing to finalise funding by the end of June.
Projects selected in the first round will provide a collective 1415,2MW . The entire process will involve up to five bid rounds and the provision of 3725MW of renewable power by 2016 . The 19 preferred bidders in the second round were introduced in mid-May… Read more