Mmegi

Govt inks $4bn renewable energy deal with Indian firm

Green power: The country is advancing various renewable energy projects
Green power: The country is advancing various renewable energy projects

The Ministry of Minerals and Energy has signed a Memorandum of Understanding with a stock-exchange-listed Indian firm for the development of up to $4 billion in renewable energy projects around the country.

In statement to the Bombay Stock Exchange this afternoon, KP Group revealed that the MoU had been sealed with a target of up to five gigawatts of renewable energy.

“As part of the understanding, KP Group will lead technical and commercial development activities, including feasibility studies, project design, financing, construction, commissioning, and long-term operation and maintenance of the renewable energy and storage assets,” the firm’s directors said.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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