President Cyril Ramaphosa told parliament in his opening address for the seventh administration that over the next five years the government will seize the enormous opportunity in renewable energy for inclusive growth.
Best solar and wind resources in the world
“South Africa has some of the best solar and wind resources in the world. As we undertake a just transition towards renewable energy, South Africa must create a green manufacturing sector centred on the export of green hydrogen and associated products, electric vehicles, and renewable energy components,” Ramaphosa said.
“We have seen, for example, how the Northern Cape has already attracted billions of rands of investment in renewable energy projects. Work is underway to set up a Special Economic Zone in Boegoebaai. This to drive investment in green hydrogen energy projects.
“We already have a huge pipeline of renewable energy projects. They… represent over 22,500 MW of new generating capacity. [It is] estimated to be worth around R400-billion in new private investment. Investments such as these will create many jobs,” Ramaphosa said.
Climate emergency
Earlier in the week, Ramaphosa told the Climate Resilience Symposium in Pretoria that SA is facing a climate emergency.
He said SA had to confront the reality that “the carbon-intensity of our economy is unsustainable. “For decades, our reliance on coal was a competitive advantage because it allowed us to produce electricity cheaply. But the world has changed, and this dependency has come to pose significant risks.
“As the world moves towards greener economies; our trading partners will take measures. They will ensure that their own climate actions do not undermine their economies.”
On Thursday, Ramaphosa cited the example of how the Northern Cape has already attracted billions of rands. This is investment in renewable energy projects, cited by the president as a way forward.
Special Economic Zone
“Work is underway to set up a Special Economic Zone in Boegoebaai. It …aims to drive investment in green hydrogen energy projects. We already have a huge pipeline of renewable energy projects. These represent over 22,500 MW of new generating capacity. And are estimated to be worth around R400-billion in new private investment. Investments such as these will create many jobs,” he said.
Ramaphosa noted that SA’s Just Energy Transition Investment Plan sets out a clear path. This clear path to invest more than R1.5-trillion in a just transition. Including support for workers and communities in Mpumalanga and other coal-producing regions.
“South Africa is undergoing a renewable energy revolution. That is expected to be the most significant driver of growth and job creation in the next decade and beyond,” he said.
