For many invested in Africa, it doesn’t come as a surprise that South Africa is leading the way with renewable energy investment; however, recent data shows that the country is on track to be one of the fastest growing renewable energy markets in the world.
While 2012 showed renewable energy making up less than 1% of the country’s generated energy, the percentage is expected to reach to 12% by 2020 growing 3% each year. Financiers are getting on board as Vantage Capital launched a renewable energy debt fund while South African investment bank Absa Capital began shifting its focus to the energy sector in 2011. In 2012, Absa collaborated with the French Development Agency to finance PV projects. And Nedbank is working to become the continent’s first “green” bank to help push the renewable energy sector.
3BL Media’s John Howell said in a statement, “There’s big business to be done in South Africa’s renewable energy industry, good for profits, and good for the planet.”
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