In a statement released by the company on Wednesday, CIC says it does not believe the current uncertainty regarding the leadership situation at Eskom will directly impact the evaluation and approval process for the Mmamabula Energy Project."Like many others interested in the electricity sector in South Africa, as well as the public in general, we have been following with interest the recent stories in the press in relation to the leadership situation at Eskom," says Greg Kinross, the President of CIC Energy.
Eskom has been marred by leadership problems over the past two weeks that saw Chairman Bobby Godsell resign on Monday after a fall-out with CEO Jacob Maroga. For MEP to start rolling, it requires a commitment in the form of a Power Purchasing Agreement (PPA) from South Africa, which is earmarked to consume 75 percent of the power generated from the project.However, in his statement, Kinross says he now believes the fate of Independent Power Producers and the signing of a PPA lies more with the government than Eskom.
