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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 24 2012 12:00
Britain fell deeper into recession than initially thought in the first quarter of 2012, upping chances that the central bank could inject more stimulus into the economy.
Cape Town - Technical problems and wrangling among shareholders have brought the turbines at the Darling wind farm to a halt.
Raoul Goosen, project manager of the Energy Development Corporation, which is part of the Central Energy Fund (CEF), has confirmed that the wind farm is not generating power.
He told Sake24.com that there are technical problems and that the turbine supplier, the German firm Fuhrländer, has been asked to fix the turbines.
CEF owns 49% of the wind farm - the first commercial venture of its kind in South Africa. The Development Bank of Southern Africa has a stake of 25% and an independent company, which operates the farm, Darling Wind Power, owns 26%.
Besides the technical problems, legal wrangling between Darling Wind Power and the CEF has also apparently thrown a spanner in the works.
While Darling Wind Power didn't want to comment, a source says the dispute is currently in arbitration.
Brian Jones, alternative energy project engineer at the Cape Town municipality, is concerned about the electricity received from the Darling wind farm, which is less than expected.
The municipality has appealed to the Department of Minerals and Energy to guarantee the long-term viability of the project.
- Sake24.com
For more business news in Afrikaans, go to Sake24.com.