South Africa Sees Over 1 GW of Solar & Wind Projects Registered in First Two Months of 2023

Time Stamp: March 20, 2023 11:35 AM
Source Node: 2525090

South Africa has seen a surge in renewable energy projects in the first two months of 2023. According to the South African Renewable Energy Council (SAREC), over 1 GW of solar and wind projects have been registered since the start of the year. This is a significant increase from the previous year, when only 710 MW of projects were registered.

The surge in renewable energy projects is largely due to the South African government’s commitment to increase the country’s renewable energy capacity. In 2020, the government announced its intention to increase the share of renewable energy in the country’s energy mix to 42% by 2030. This goal is being supported by a number of initiatives, including the Renewable Energy Independent Power Producer Procurement Program (REIPPPP).

Under the REIPPPP, private companies are invited to bid for contracts to build and operate renewable energy projects. These projects are then awarded to the most competitive bidders. This has resulted in a number of large-scale solar and wind projects being developed across the country.

The surge in renewable energy projects is also being driven by falling prices for solar and wind energy. In 2020, the cost of solar energy fell by more than 50%, while the cost of wind energy fell by more than 30%. This has made renewable energy more affordable for businesses and households, making it an attractive option for many.

The surge in renewable energy projects is a positive sign for South Africa’s energy future. Renewable energy is clean, reliable, and increasingly affordable, making it an attractive option for many. With over 1 GW of solar and wind projects registered in the first two months of 2023, South Africa is well on its way to achieving its goal of increasing the share of renewable energy in its energy mix.