Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.The failure to implement infrastructure projects has been a recurring issue across African nations – with South Africa no exception.
Says Conway Williams, Prescient Investment Management’s Head of Credit: “We need to unlock the gridlock and decode Africa and South Africa’s struggles with infrastructure implementation”. “The global importance of a just energy transition is underscored by the urgent need to mitigate climate change. By transitioning to cleaner energy sources, the world can reduce greenhouse gas emissions, slow down global warming, and promote environmental sustainability. It can also enhance energy security and reduce dependence on finite fossil fuel resources.
“To manage the transition, South Africa needs a comprehensive strategy, including investment into renewable energy, developing solar, wind, and other renewable energy sources. There needs to be skills development and providing training and support for workers to transition to jobs in the renewable energy sector. There needs to be social programmes and implementing social safety nets to support communities impacted by the decline of the coal industry.
Williams also highlights the importance of South Africa’s IRP2023, the country’s blueprint for electricity infrastructure, detailing both expected demand and supply. Prior to these transactions, the CEIDF had already committed over R4 billion to 30 renewable energy projects and infrastructure opportunities and contributed towards enabling an additional 2.2GW of clean energy – the equivalent of one million average South African homes.Williams emphasises that the integration of renewable sources into South Africa’s grid is a monumental task and one that is critical to this country’s future.
Whereas the first wave from 2011 to date was anchored on wind and solar power generation, the next phase offers a blend of renewables, gas-fired power, grid investment and open market direct and indirect market opportunities.