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)
Updated 55 minutes ago The United Arab Emirates (UAE) will provide Egypt with petroleum products worth $8.7-billion over a year starting in September, an Egyptian official told Reuters on Sunday. Egypt has struggled to curb its swelling budget deficit and meet its soaring energy demands,...
Updated 2 hours 39 minutes ago 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...
Recent Research Reports
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...
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.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
This Week's Magazine
South African State-owned defence industrial group Denel has announced its fourth consecutive year of profits. The group's results for the financial year 2013/2014 were recently announced at its head office in Centurion, south of Pretoria. Revenues grew by 17%, net...
There is little opportunity for JSE-listed infrastructure company Group Five to grow shareholder value in the domestic market, says CEO Mike Upton. He says value can still be found in the private sector, in the renewable and industrial power sector, as well as in...
The National Association of Automobile Manufacturers of South Africa (Naamsa) has announced the event dates of the 2015 Johannesburg International Motor Show (JIMS). The event will take place from October 14 to October 25, 2015, at the Johannesburg Expo Centre, Nasrec.
UK engineering support services provider Babcock is set to deliver the largest order of global truck manufacturer DAF’s truck tractors in Southern Africa to bulk carrier road-based logistics company Ngululu Bulk Carriers (NBC), with 133 trucks to be delivered in...
Digital radio communications in the African local government space can open up the world, but have many challenges to overcome, notes integration and migration of legacy radio communications infrastructure with digital mobile radio company Emcom Wireless head of...