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South Africa signs first of $4.7 bln renewable energy deals

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South African Energy Minister Jeff Radebe signed the first of a series of renewable energy contracts worth 55.92 billion rand ($4.72 billion) on Wednesday, in the first major investment deal under President Cyril Ramaphosa. The contract will go to 27 mostly solar and wind projects.

Fun Fact: South Africa relies on coal-fired plants for more than 80 percent of its electricity generation, while renewables contribute around 7 percent.

Hurray for South Africa - look forward to seeing more deals like these across the globe! 

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