South Africa invests 3.8 billion dollars in renewable energies

14 April 2011

Ebrahim Patel, South African minister for Economic Development, announced last Tuesday that South Africa is to invest 3.8 billion dollars over five years in a renewable energy development program.

"We believe it is possible to create 300,000 new jobs in the green economy by 2020 if we act fast to set up the regulatory framework and the environment in terms of appropriate investments", explained the minister, quoted by the agency AFP.

Mr. Patel added that the initiative would open up a market for significant private investments.

South Africa will thus become one of the most advanced countries in renewable energies, similar to Morocco, whose solar energy project has been called one of the "largest and most advanced" in North Africa and in the world, according to the "Dow Jones Newswires", in its edition last Tuesday.

This large energy project is planned to guarantee about 14 percent of the electricity needs of the Kingdom, reports the MAP press agency.
 

Category: Energy