Jun 21, 2011
SA renewable sector could compete globally – European merchant bankBack
Engineering|Johannesburg|London|Africa|NextEnergy Capital|Nuclear|Projects|Renewable Energy|Renewable-Energy|Africa|Italy|South Africa|Energy|Merchant Bank|Mining|Nuclear|Nuclear Energy Plants|Power Generation|Power-generation|Renewable Energy|Renewable Energy Sector|Renewable Energy Sector − Wind|Power|Stefano Sommadossi
© Reuse this
“The country has the making of a renewable energy sector − wind, sun, technology and capability and has enormous potential to develop and compete on a global scale,” he said at the Solar South Africa Conference, held in Johannesburg.
“South Africa can create an industry around the tariff mechanism, provided it specialises in key issues and key sectors, for example by generating energy, on or off grid, from the mining sector. South Africa has the potential to become a net exporter of energy for not only Africa, but worldwide.”
Economic growth depended on the speed at which power could become available. “For example, in 2010, the installed capacity in Italy was equivalent to the power of about nine to ten nuclear energy plants, which would take about 15 years to construct. What is key is the availability of power in the very short term to trigger economic development,” Sommadossi said.
Attracting investment from abroad, and using existing local capital in large-scale projects could also trigger technical innovation, he said.
“South Africa could trigger of the next wave of opportunity in specialising in technologies, which could spin off into creating employment opportunities, and providing the base on which it could export its knowledge specialising in the application of technologies.”
Meanwhile, attracting the right type of capital and guaranteeing the quality of returns were also key for local and international investors. Sommadossi also suggested that South Africa should look to, for example, existing capital such as pension funds, to provide returns to local investors.
The quality of development of the country’s renewable energy sector was also critical, and required a balance of power generation capacity, grid development and technical efficiency, he concludes.
Edited by: Mariaan Webb© Reuse this Comment Guidelines (150 word limit)
Other Electricity News
Recent Research Reports
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
This Week's Magazine
The broad-based black economic-empowerment (BBBEE) alignment process in the con-struction sector has begun, dur-ing which the sector codes of the Construction Sector Charter Council (CSCC) will be aligned with the revised Codes of Good Practice (CoGP), which come...
It is second time lucky for Toby Venter. Ten years ago he negotiated to buy the Kyalami racetrack, but “the deal did not materialise”.
Environmental solutions company I-Cat started construction work on its R22-million, 1 949 m2 environmentally sustainable office and warehouse facility, commissioned by I-CAT Environmental Solutions, at a launch event in October. The new sustainable I-CAT campus,...
Effective file synchronisation and sharing across an organisation’s structures can provide the basis for robust mobile-device and document management while maintaining proper backup, version control and content distribution. These are the lessons learned by complex...
Hotel group Carlson Rezidor currently holds the largest hotel pipeline in Africa with 30 hotels and 6 300 rooms under development. The hotel group develops and operates Radisson Blu in the upper upscale segment and Park Inn by Radisson in the mid-market segment. With...