Tuesday, 4 October, 2022

S Africa bets on pvt investors, solar to fix power crisis

JOHANNESBURG: South Africa will open up to private investments to establish a competitive electricity market, President Cyril Ramaphosa said on Monday, as he outlined sweeping plans to deal with a prolonged energy crisis.

Ramaphosa said the government will accelerate the procurement of new capacity from renewables, gas and battery storage - and remove a licensing threshold for private power generation projects.

"This will enable private investment in electricity generation to rise to higher levels," he added, reports AFP.

The ultimate objective "is to achieve long-term energy security, so that we never have to experience an electricity shortage again," Ramaphosa said in a televised press briefing.

"We aim to do this by ... improving plant performance, establishing a competitive electricity market, opening the way for private investment in new generation capacity and increasing our investment in renewables."