South Africa has issued a plea for investors to inject capital into the country’s energy sector to decrease widespread blackouts.
SA’s Public Enterprises Minister Alec Erwin said an investment of R1 trillion was needed to secure a reliable electricity supply. He said new power stations must be built, some nuclear.
Erwin admitted an increased demand for electricity and a decreased support from investors has led to repetitive energy shortages in South Africa, but stated it was a global problem as many countries struggle to attract investment for renewable energy and their is a global shortage of power-generating infrastructure.
“There is no quick fix, but we can alleviate the problem with energy efficiency,” he said.
The building program in the country will take over 18 years to complete, although the Minister has requested greater energy-saving tactics to reduce demand. The program intends to add 40,000 MEW to South Africa’s generating capacity.
Meanwhile, SA President Thabo Mbeki and Venezuelan President Hugo Chavez met Tuesday to discuss a partnership between the countries. The meeting was also to include talks about South Africa’s energy crisis and plans to further alternative energy in the country. However, in a transcript released by SA Department of Foreign Affairs, Chavez said the topic had not been discussed in the document the leaders had signed. He did comment, “[Alternative energy] is no doubt one of the most important topics of the world today.” The President did stress however, that it would undoubtedly play a role in future discussions between the two countries.