Robert Brand and Mike Cohen FIRMs funding R47 billion of local wind and solar energy projects are driving up prices to lock in long-term borrowing costs as they seek protection from fluctuating interest rates. Payments to secure 10-year rates jumped 69 basis points to a four-month high of 7.13 percent on Monday from a record low in July. The premium of 10-year swaps over two-year contracts widened 18 basis points since October, indicating that demand for the longer-term contracts outstripped shorter-dated swaps. The spread for similar contracts in Russia has declined 32 basis points. The Department of Energy signed agreements for 28 renewable energy projects this week, opening the way for...
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