Provider load failure on SQL Server 2008 R2 reporting services (SSRS) installation

Below was the error on the log:

2014-03-09 03:08:36 Slp: Sco: Attempting to open registry subkey SOFTWARE\Microsoft\Microsoft SQL Server\MSRS10_50.MSSQLSERVER\Setup
2014-03-09 03:08:36 Slp: Sco: Attempting to get registry value SQLPath
2014-03-09 03:08:36 RS: Setting InstanceId.
2014-03-09 03:08:36 RS: Setting Authentication Type.
2014-03-09 03:08:36 Slp: Sco: Attempting to get account sid for user account NT AUTHORITY\NETWORK SERVICE
2014-03-09 03:08:36 Slp: Sco: Attempting to get sid for user account NT AUTHORITY\NETWORK SERVICE
2014-03-09 03:08:36 Slp: Sco: GetSidForAccount normalized accountName NT AUTHORITY\NETWORK SERVICE parameter to NT AUTHORITY\NETWORK SERVICE
2014-03-09 03:08:36 RS: Setting AsOleDb folder.
2014-03-09 03:08:36 RS: Persisting configurations.
2014-03-09 03:08:36 Slp: Configuration action failed for feature RS_Server_Adv during timing ConfigRC and scenario ConfigRC.
2014-03-09 03:08:36 Slp: Provider load failure
2014-03-09 03:08:37 Slp: The configuration failure category of current exception is ConfigurationFailure
2014-03-09 03:08:37 Slp: Configuration action failed for feature RS_Server_Adv during timing ConfigRC and scenario ConfigRC.
2014-03-09 03:08:37 Slp: System.Management.ManagementException: Provider load failure
2014-03-09 03:08:37 Slp:    at System.Management.ManagementException.ThrowWithExtendedInfo(ManagementStatus errorCode)
2014-03-09 03:08:37 Slp:    at System.Management.ManagementObjectCollection.ManagementObjectEnumerator.MoveNext()
2014-03-09 03:08:37 Slp:    at Microsoft.ReportingServices.WmiProvider.WmiProviders.GetInstance(String machineName, String instanceName, RSWmiNamespaces rsNamespace, ConnectionOptions connOptions, ObjectGetOptions getOptions)
2014-03-09 03:08:37 Slp:    at Microsoft.ReportingServices.WmiProvider.WmiProviders.GetReportServerAdmin(String machineName, String instanceName, ConnectionOptions connOptions, ObjectGetOptions getOptions)
2014-03-09 03:08:37 Slp:    at Microsoft.ReportingServices.WmiProvider.WmiProviders.GetReportServerAdmin(String machineName, String instanceName)
2014-03-09 03:08:37 Slp:    at Microsoft.SqlServer.Configuration.RSExtension.Configuration.ConfigurationWMI.Connect(String instanceName)
2014-03-09 03:08:37 Slp:    at Microsoft.SqlServer.Configuration.RSExtension.Configuration.ConfigurationAPI..ctor(String configFilePath, String instanceName)
2014-03-09 03:08:37 Slp:    at Microsoft.SqlServer.Configuration.RSExtension.Configuration.ReportServerConfiguration.GetConfigurationAPI(String instanceName)
2014-03-09 03:08:37 Slp:    at Microsoft.SqlServer.Configuration.RSExtension.Configuration.ReportServerConfiguration.Persist(String instanceID, String instanceName)
2014-03-09 03:08:37 Slp:    at Microsoft.SqlServer.Configuration.RSExtension.SQLRSConfigurationPrivate.Install_ConfigRC(Dictionary`2 actionData, PublicConfigurationBase spcb)
2014-03-09 03:08:37 Slp:    at Microsoft.SqlServer.Configuration.RSExtension.SQLRSConfigurationPrivate.InstallImpl(ConfigActionTiming timing, Dictionary`2 actionData, PublicConfigurationBase spcb)
2014-03-09 03:08:37 Slp:    at Microsoft.SqlServer.Configuration.RSExtension.SQLRSConfigurationPrivate.Install(ConfigActionTiming timing, Dictionary`2 actionData, PublicConfigurationBase spcb)
2014-03-09 03:08:37 Slp:    at Microsoft.SqlServer.Configuration.SqlConfigBase.PrivateConfigurationBase.Execute(ConfigActionScenario scenario, ConfigActionTiming timing, ConfigBaseAction action, Dictionary`2 actionData, PublicConfigurationBase spcbCurrent)
2014-03-09 03:08:37 Slp:    at Microsoft.SqlServer.Configuration.SqlConfigBase.SqlFeatureConfigBase.Execute(ConfigActionScenario scenario, ConfigActionTiming timing, ConfigBaseAction action, Dictionary`2 actionData, PublicConfigurationBase spcbCurrent)
2014-03-09 03:08:37 Slp:    at Microsoft.SqlServer.Configuration.SqlConfigBase.SlpConfigAction.ExecuteAction(String actionId)
2014-03-09 03:08:37 Slp:    at Microsoft.SqlServer.Configuration.SqlConfigBase.SlpConfigAction.Execute(String actionId, TextWriter errorStream)
2014-03-09 03:08:37 Slp: Exception: System.Management.ManagementException.
2014-03-09 03:08:37 Slp: Source: System.Management.
2014-03-09 03:08:37 Slp: Message: Provider load failure .

Turns out http://support.microsoft.com/kb/980142 describes the same error.

Solved by 

1. running SQL Server R2 installation, do not select Reporting services at this time, select something else (eg: client utilities), complete install
2. Install SQL Server R2 Service Pack 2 (SP2)
3. Go back to R2 install, this time select Reporting Services, complete install (no error this time - yay)
4. Install SP2 again and complete install