Jun 21, 2011
SA renewable sector could compete globally – European merchant bankBack
Engineering|Africa|Export|Mining|Nuclear|Projects|Renewable Energy|Renewable-Energy|Africa|Energy|Power Generation|Power-generation|Power
© 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)
Creamer Media Senior Researcher and Deputy Editor Online
Other Electricity News
Waste heat recovery has started at two major sites owned by telecommunications group MTN, with more sites to be converted during the remainder of the year, power solutions provider Master Power Technologies says. MTN made use of trigeneration, with gas used to...
Recent Research Reports
Liquid Fuels 2015: A review of South Africa's liquid fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2015 Report examines these issues in the context of South Africa’s business environment; oil and gas exploration; fuel pricing; the development of the country’s biofuels industry; the logistics of transporting liquid fuels; and...
Road and Rail 2015: A review of South Africa's road and rail sectors (PDF Report)
Creamer Media’s Road and Rail 2015 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 infrastructure and network, the funding and maintenance of these respective networks, and...
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
Real Economy Insight: Automotive 2015 (PDF Report)
Creamer Media’s Real Economy Year Book comprises separate reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, gold, iron-ore and platinum sectors.
Real Economy Insight: Water 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
This Week's Magazine
Energy analyst and EE Publishers MD Chris Yelland warned recently against excessive optimism regarding timescales for the proposed construction of new nuclear power plants (NPPs) in South Africa. He was speaking at a Nuclear Roundtable in Johannesburg. “I think we...
Malawi’s Lilongwe Water Board (LWB) is inviting eligible bidders to prequalify for the board’s efficiency improvement works, which will be implemented as part of the E24-million Lilongwe Water Resources Efficiency Programme. LWB CEO Alfonso Chikuni explains that...
CROATIA, AN EU MEMBER BUT NOT A TDCA MEMBER On July 1, 2013, Croatia officially became the twenty-eighth member of the European Union (EU). Despite Croatia’s accession into the EU, it is yet to become party to the Trade, Development and Cooperation Agreement (TDCA)...
The Council for Scientific and Industrial Research (CSIR) has announced that its new Inundu airborne electronics testing, evaluation and training pod had made its first test flight on September 10. The successful flight was undertaken from Lanseria International...
The Development Bank of Southern Africa (DBSA) – which disbursed a record R13-billion during 2015, from R12.7-billion in the prior year – remained optimistic that it could ramp-up loan disbursements to R25-billion a year by 2018 as it sought to give greater emphasis...