$13 bln investment in Renewable Energy makes S.A world leaders says SolarReserve Vice President - CNBC Africa

$13 bln investment in Renewable Energy makes S.A world leaders says SolarReserve Vice President

Southern Africa

by Aviwe Mtila 0

SolarReserve has secured a $1 billion bid to construct a Concentrated Solar Power (CSP)plant named Redstone.

With investments of over $13 billion in the last five years, South Africa are world leaders in the growth of Renewable Energy says Vice President of SolarReserve, Terence Govender.

Addressing the media during an energy tour in South Africa’s Northern Cape Province, Govender says the growth of Renewable Energy in the country has hugely assisted in curbing electricity cuts that are widely known as ‘load shedding’ in South Africa.

“This is one area where government has outdone its self because there are lots of foreign investors coming into South Africa for Renewable Energy. With renewable energy becoming cheaper and with its cleanness, it is the future for South Africa and the continent as a whole,” says Govender.

SolarReserve has secured a $1 billion bid to construct a Concentrated Solar Power (CSP)plant named Redstone with the construction of it starting in September. Redstone will generate 100 MW of energy. The energy developers already have two operational plants in the Northern Cape, namely Jasper, which generates 96 MW of energy, and Lesedi generating 75 MW. The cost of both plants was just under $400 million says Govender.

“The two plants here are PV plants and now we’ll be constructing a CSP which will be able to generate energy in the evening as well,” says Govender.

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