South Africa has the world’s fastest-growing green economy
Sep 29, 2016
The report found that the South African renewable energy market has grown rapidly over the last five years or so and there is rising demand for renewable debt. The report also notes that the country had Africa’s largest renewables market in 2015 (in terms of asset finance for utility-scale projects) and also showed the highest year-on-year growth globally.
Alan Winde, Minister of Economic Opportunities for the Western Cape Government, said the Western Cape was home to the majority of the country’s green manufacturers. 'In the Western Cape, we’ve identified energy security as an important economic enabler. This is why we prioritise clean forms of energy. Around 60% of the successful utility scale project developers and 70% of renewable energy manufacturing takes place in the Western Cape. Since 2009, we’ve attracted R17 billion investment in renewable energy projects.'
Minister Winde said international firms such as Jinko, GRI, and Sunpower, among others, have all established themselves in Cape Town on the back of the renewable's programme. Further, the proposed Special Economic Zone in Atlantis stands to deliver an expected R1 billion and 1 200 jobs to the economy.
“Green investments in the Western Cape have created 2000 jobs. I’d like to commend GreenCape, and our sector, for their efforts to grow our green economy. Their hard work made a major contribution to the rapid growth of the South African green sector,” said Minister Winde.
More information on the report is available here