South Africa’s renewable energy market continues to evolve while growing significantly, demonstrating the industry is maturing.With South Africa experiencing a worsening energy shortage crisis, government has been pushing for the adoption of renewable energy sources.
With more renewable energy projects being introduced through this intervention, SAWEA believes this will significantly contribute to the reduction of carbon emissions in line with the country’s Nationally Determined Commitments. Govender explains this shift offers flexibility and allows for private entities to accelerate the reduction of their carbon footprint, further attracting new investors to renewable energy.
“While there is an argument for the standardisation of PPAs, the allocation of risk remains a concern and will be approached differently, depending on the project conditions.