South Africa:Green Capital’s Expansion In The South African Market

The Polish company Green Capital S.A., one of the leading firms in the renewable energy sector, has announced the dynamic growth of its operations in the South African market.

Green Capital’s presence in South Africa, headquartered in Johannesburg, underscores its commitment to the development of the renewable energy sector and its desire to participate in the energy transition of a country facing significant challenges related to energy shortages and reliance on fossil fuels.

The Green Capital team in South Africa consists of four highly qualified specialists with experience in the development of wind and solar energy.

With a diversified portfolio of projects exceeding 1000 MW, Green Capital South Africa is becoming a key player in the local renewable energy sector, actively contributing to the country’s energy transformation.

In July 2024, Green Capital signed five new land lease agreements in the Western Cape, Free State, and Gauteng provinces.

This marks another step in realizing our ambitious plan, which includes projects exceeding 2000 MW.

Mikołaj Kowalczyk, International Business Director at Green Capital, comments: “The South African market is very promising and full of potential, particularly in the context of the rapid development of the renewable energy sector. The country is struggling with severe electricity shortages, leading to temporary power outages that have a negative impact on the economy. According to observers, frequent power outages reduced real GDP growth by two percentage points in 2023. Currently, coal is the main source of energy in South Africa, which presents the country with the urgent challenge of transitioning to green energy. Green Capital plans to play a significant role in this process. We are pleased to see that the new government and the Minister of Energy in South Africa recognize the importance of renewable energy sources and are implementing favorable changes that support the development of this sector.

“In the coming years, Green Capital plans to implement dozens of projects in South Africa, with about half of them already secured with locations and in advanced planning stages. Cooperation with landowners and adaptation to challenges related to the transmission network are key aspects of our strategy.

“South Africa is grappling with transmission infrastructure issues, making it difficult to integrate new projects into the grid, so we are actively working on solutions to address this problem to meet the growing demand for green energy.”

Green Capital is focusing its efforts on developing photovoltaic projects, particularly in the western part of the country, including the Western Cape province, and from Limpopo through Gauteng and Mpumalanga to the Free State.

The company’s goal is not only to increase the share of renewable energy in South Africa’s energy mix but also to contribute to the country’s sustainable development and economic growth.

Despite visible progress, the renewable energy market in South Africa faces numerous challenges, such as insufficient transmission network capacity and long project implementation times, which can currently exceed five years. Although investments in transmission network development are being made on a large scale, the pace of infrastructure expansion is not keeping up with the growing demand for its use. Additionally, landowners often hesitate to commit to long-term projects that will yield results only after several years.

Green Capital is determined to accelerate the development of green energy and adapt its strategy to local needs, ensuring a future based on clean and renewable energy sources.

Source: https://energynewsafrica.com