South Africa’s electricity sector needs about R2 trillion investment over the next ten years to be able to ensure robust infrastructure and reliable electricity supply.
This was disclosed during a briefing by the Electricity Council of South Africa (ECSA) at a the Parliament’s Electricity and Energy Committee.
ECSA and the Independent Power Producers Office were among the stakeholders that updated the Committee on the progress made on the energy front.
The CEO of the Energy Council of South Africa, James Mackay, says, “We need to invest over R2 trillion in new energy assets in the electricity sector over the next ten years.
“Just anecdotally, I would say that traditional or historic government spending in the energy space would be about 25%, maybe less.
“One can see there will be a heavy reliance on the bankability of investor confidence in private sector investment. One thing as we move into this energy transmission space, we need new institutional capabilities and skills. We really need to focus on supply chains.”
Source: https://energynewsafrica.com
Discover more from Energy News Africa
Subscribe to get the latest posts sent to your email.