About R600 billion is required by 2030 to improve the transmission infrastructure, and secure more clean energy.
This emerged at a roundtable event held by the Development Bank of Southern Africa (DBSA) and World Economic Forum (WEF), yesterday.
In a statement, DBSA said results of the roundtable event were published in a joint report with Accenture.
80 public and private sector stakeholders attended the event about investment opportunities in South Africa’s clean and Just Energy Transition.
The report is titled, “Mobilising Investment for Clean Energy in South Africa”.
It provides a comprehensive analysis of the current landscape and future opportunities for clean energy investments in South Africa is offered. The report also outlines recommendations to enhance the investment environment in the country, in the form of four key regulatory and policy actions that could help make the country a more enticing environment for clean energy capital.
The report also proposes five non-policy solutions that will be implemented by local players in the months ahead, including setting up a first- of- its- kind credit guarantee and credit facilities for Small Scale Embedded Generation (SSEG), programmes that can improve awareness of sustainability and transition finance instruments.
There is a section on the new Clean Hydrogen Innovation Consortium as well as discussions about the power of industrial clusters in formalising transition commitments and catalysing finance.
Catherine Koffman: Group Executive: Project Preparation, said “as a leading DFI in the region, the DBSA is well placed to ensure that a transition to a net zero target is a Just Transition. This means that the DBSA will provide financial and technical support across the value chain of the country’s transition towards a greener economy from project preparation support to facilitate bankable feasibility to financing projects that complement the country and the region’s transition journey.”
Roberto Bocca, Head of the World Economic Forum Centre for Energy and Materials said South Africa’s commitment to a clean energy transition and net zero future is commendable.
“We are excited to have worked with business, civil society leaders and representatives from the public sector to surface key policy and non-policy solutions that can help position the country as a destination of choice for clean energy capital. We hope that insights from this exercise can support additional just energy transition efforts in South Africa and beyond” said Bocca.
Picture: iStock