April 4, 2018 / 1:56 PM / 22 days ago

South Africa signs first of $4.7 bln renewable energy deals

JOHANNESBURG, April 4 (Reuters) - 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 signing went ahead after a South African court dismissed a last-minute legal challenge by a metalworkers’ union and group which has lobbied for ousted president Jacob Zuma in the past.

$1 = 11.8521 rand Reporting by Alexander Winning Editing by Joe Brock

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