Excerpt from esi-africa.com
Albie Alant, associate director at PwC, said they are currently seeing a rapid scaling up of projects and lowering of prices across Africa as their clients reassess products they bring to market. According to Alant, their clients sense is a strong green demand trend from the market and in order to remain competitive, there is a need to transition into green energy, especially in Southern Africa. “We see increasingly decentralised and digitised systems becoming more relevant.”
“We see the requirement for more renewable energy and in order to service and support the large industrials and mines, storage becomes very relevant to manage baseload requirements and energy needs of entities,” said Alant.
He said PwC did not see new investments being made into fossil fuels going forward: “The move is away from that, with large pools of capital being earmarked to fund renewable energy.”
While slow policy formation has limited the integration of renewable energy into national electricity grids, he said South Africa’s successful REIPPP programme has been very successful in starting large scale procurement of renewable energy for the country.