Green Cape has launched its 2024 annual green economy market intelligence reports (MIR), written for foreign and local investors looking to invest directly in the South African renewable energy market.
The three reports – ‘Large-Scale Renewable Energy’, ‘Energy Services’, and ‘Electric Vehicles’ – were launched at a special event in Johannesburg yesterday (April 18). The reports highlight opportunities in the public and private market in South Africa.
South Africa’s large-scale renewable energy sector is historically driven by the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), a government programme managed through the Independent Power Producers Office (IPPO). “In 2023, private off-taker agreements have grown at a rapid pace and are expected to be a large driver of future renewable energy projects,” the Large-Scale Renewable Energy MIR says.
The second report highlights investment opportunities in embedded generation and energy storage created by South Africa’s diversifying energy services (ES) market.
The EV MIR is written for investors, original equipment manufacturers (OEMs), component and manufacturing equipment suppliers, and technical advisors. It highlights the investment opportunities in South Africa's market.
An area of focus is the professionalisation of the renewable energy industry, says Jack-Vincent Radmore, the Energy Programme Manager and Green Finance Lead of Green Cape. “Currently, all commercial, industrial, and residential systems require a professional engineer’s sign-off, which adds significant costs to the process. Green Cape aims to explore ways to streamline this process, potentially allowing master electricians to sign off on systems. This move could potentially reduce costs and barriers to entry in the industry, making it more accessible for investors and businesses alike.”
The reports are published in partnership with the UK’s Partnering for Accelerated Climate Transitions (PACT) programme. “I am delighted that the British High Commission, through our UK PACT programme, has supported the latest MIRs in the context of South Africa’s rapidly changing energy landscape. The reports present information on the most promising investment opportunities in these sectors, which have the potential to create new jobs and skills as part of a Just Energy Transition,” said Antony Phillipson, British High Commissioner in South Africa.
Click here to read the Large-Scale Renewable Energy 2024 MIR full report.
Click here to read the Energy Services 2024 MIR full report.
Click here to read the Electric Vehicles 2024 MIR full report.
