South Africa\u2019s Just Energy Transition presents an opportunity for not only investors but also for those South Africans who will be closely affected by the transition.<\/p>\n
This is according to Eskom Chief Executive, Andre de Ruyter, who was speaking during a panel discussion on the Just Energy Transition at the South African Investment Conference.<\/p>\n
\u201cThe transition presents a fantastic opportunity for South Africa to grab hold of a stimulus which could change the face of the economy if we do this right.<\/p>\n
\u201cThere are opportunities for us to create new industrial opportunities if we create sufficient scale in the manufacturing of renewable energy components\u2026in the parts of the country that will be most affected by the move away from coal,\u201d he said.<\/p>\n
De Ruyter suggested that investments to train and upskill youth in those areas where these mines are based would be one way to offset any loss of income for those communities.<\/p>\n
\u201cIn order to make the transition just, we have to pay attention specifically to the coal belt of Mpumalanga. We need to create alternative futures not only for the mines but also the communities in which they work.<\/p>\n
\u201c[There are] communities\u2026around our power plants and the coal mines that feed the plants. For Eskom to simply lock the gates and walk away is not something that we\u2019re prepared to contemplate. Therefore if we can ensure that the transition takes place in a way that is just to that particular constituency\u2026they are the people who will be directly affected by the transition,\u201d he said.<\/p>\n
De Ruyter explained that the power utility\u2019s decarbonisation plan \u2013 which is expected to take off at least 22GW of coal fired energy off the grid by 2035 \u2013 will present opportunities for investment in renewable energy capacity.<\/p>\n
\u201cTo replace that\u2026will require an investment of about 60 000MW of renewable capacity. In addition to that, there will need to be huge investments in storage. Now all of that creates a market and if we have the right regulatory certainty and policy certainty then I believe that investors are looking at an opportunity that could be very attractive,\u201d he said.<\/p>\n
Fresh off the announcement that the African Rainbow Energy will be investing at least R3 billion in renewable energy projects, the company\u2019s chief executive Brian Dames explained that the company is looking to ensure that the infrastructure needed to carry out the transition is available.<\/p>\n
\u201cWe need grid access. We need to build lots and lots of transmission networks in South Africa\u2026without that, none of the [transition] is possible. We have to think about automotives\u2026how you can get from here to Cape Town in an electrical vehicle.<\/p>\n
\u201cWe have to be realist to some of the issues that we face so we as a company are going to invest R3 billion in the next two years and there are a lot more opportunities.\u201d<\/p>\n
Dames added that the company has also taken the step to involve disadvantaged groups in its ownership to ensure that they benefit from the opportunities that the just energy transition presents.<\/p>\n
\u201cThey are huge opportunities. So what do we think is just? We have just changed the ownership of our company\u202639% of our company is now owned by workers, black women and black youth. [That] is because the sector, for a long time, has been seen as different and people don\u2019t understand, we haven\u2019t engaged, so we wanted to bring people closer so that they are part of this transition,\u201d Dames said. <\/p>\n<\/p>\n
Source: South African Government News Agency<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
South Africa\u2019s Just Energy Transition presents an opportunity for not only investors but also for those South Africans who will be closely affected by the transition.This is according to Eskom Chief Executive, Andre de Ruyter, who was speaking during a…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[],"yoast_head":"\n