South Africa’s business leaders can solve the energy crisis (DM)
Imagine a South Africa with load shedding a dim memory, a flourishing economy, booming investments, safer and cleaner jobs and air pollution drastically reduced along with pollution-related illness. This is the legacy we can leave for future generations by transitioning our country to clean energy. We’re nowhere near that dream yet. Load shedding is costing the nation between R1.5 billion to R6 billion per day. A short-term public sector solution is deemed virtually impossible, with the national government crisis plan expected to take a decade to be fully implemented. Even at the municipal level, more nimble local governments, such as the City of Cape Town, are projecting that renewable energy from independent power producers will take four years to bring online.
The private sector is the only actor with the capital, agility and speed to address this emergency quickly. This acknowledgement is reflected in recent decisions to remove the 100 megawatt licensing threshold for large energy consumers, and in the President’s energy crisis plan, which relies heavily on the private sector to drive, fund and support large- and utility-scale renewables. In July, Eskom met with the top leadership from 70 corporations to discuss private-sector led solutions to the energy crisis. Click here to read full article
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