Investment commitments by South African and international renewables investors featured prominently at the sixth South Africa Investment Conference, with combined pledges of more than R50-billion announced.

In addition, green energy also featured strongly in an energy-related investment prospectus released by government at the event, where a new R2-trillion investment target was set for the period to 2030.

Overall, pledges of R415-billion across 81 individual projects were announced involving businesses operating in 12 sectors, from mining and manufacturing to agro-processing, transport, renewable energy and information technology.

The largest green-energy commitment was made by South African independent power producer (IPP) Mulilo, which released details of investments with a combined value of R15-billion.

Mulilo said the capital would fund the development of three large-scale solar PV projects and a battery energy storage system that would, together, deliver 716 MW in grid-tied electricity.

Mulilo was also actively progressing a 30 GW pipeline with the goal of adding one gigawatt yearly of additional electricity supply.

Large commitments were also announced by other prominent South African IPP investors such as Anthem Energy (R10.2-billion), Seriti Green (R10-billion), and NOA (R9.9-billion), as well as Enel Green Power (R9.8-billion) of Italy.

In addition, green economy and renewables investment commitments were announced by Hosano Energy (R5-billion), Mzansi Energy (R3-billion), Parsons Power Park (R2.8-billion), Shaurya Steel (R200-million), and Tinna Mbodla Rubber (R100-million).

In his address, President Cyril Ramaphosa said the renewables investments represented a vote of confidence in South Africa’s “rapidly transforming energy sector”.

He argued that regulatory reforms in the electricity sector had unlocked a significant and growing pipeline of investment, with more than 220 GW of renewable-energy projects in development, and 36 GW already in the grid connection process.

“Over the next five years, we will add massive new solar, wind and battery storage capacity to transition our economy towards cheap green energy and sources at scale.

“We are now moving rapidly to establish a competitive wholesale electricity market and to complete the unbundling of Eskom through the establishment of a fully independent transmission operator.

“At the same time, we are moving to enable private investment in expanding our transmission network through independent transmission projects,” Ramaphosa said.

Meanwhile, Electricity and Energy Minister Dr Kgosientsho Ramokgopa released what he termed an ‘investment prospectus’ that provided a snapshot of the generation- and grid-related investment opportunities emerging in the electricity sector.

The document states that South Africa’s Integrated Resource Plan 2025 outlines a coordinated infrastructure programme that will entail investments of about R2.23-trillion, aimed at ensuring security of supply.

“The plan provides for the addition of about 105 GW of new generation capacity by 2039, fundamentally reshaping the country’s energy mix.

“Renewable energy capacity alone is expected to increase from approximately 17 GW today to more than 45 GW by 2030, supported by a steady build rate of around 5 GW per annum,” the document reads.