During the period under review, 14 new projects were facilitated, and investments were made across several sectors. More than 50% of the direct investment is derived from foreign investors, of which Norway, Germany and America are the largest contributors. About R1.3 billion of these investments were allocated to the province’s green economy: renewable energy manufacturing, waste economy, sustainable agriculture and electric mobility.
‘We are seeing more opportunities emerging right here in our province driven by international shifts to clean energy; geopolitics; the loadshedding crisis; and importantly, policy reforms in the energy space,’ says Wesgro CEO Wrenelle Stander. ‘With recent policy shifts to open the energy market to private investment, investment into clean energy technologies is expected to grow. This is expected to boost energy security in the medium to long term.
Wesgro works closely with InvestSA, provincial and local government, GreenCape, the Atlantis Greentech Special Economic Zone and Freeport Saldanha to support the Western Cape’s investment ecosystem, allowing for easy market entry and investment facilitation.