MEC hails renewable energy hub for province
Category State Property News
THE KwaZulu-Natal provincial government, along with Durban municipality, have teamed up with leading international renewable energy institutions to create an R11,2bn renewable energy hub project due to be completed by 2020.
The project is an initiative of Germany-based IKD International and Ardor SA, supported by WISTAAdlershof, City of Science, Technology and Media; universities and institutes from Berlin and Brandenburg, in partnership with Durban University, Anglo American Platinum and South Korean technology partners and investors.
This was revealed by KwaZuluNatal economic development and tourism MEC Mike Mabuyakhulu in Pietermaritzburg yesterday.
Renewable energy is a fast- growing global industry due to the environmental costs and problems associated with carbon-based energy. Electricity supply is expected to remain tight in SA until 2015 due to stalled spending on power stations and rising demand. The government is seeking projects to accelerate renewable energy investment.
The proposed project, to be built near the King Shaka Airport, will comprise a 260MW hybrid renewable energy plant, a centre for excellence for renewable energy and the TW Kambule academy on renewable energy. The plant is relatively small compared to the size of Eskom’s Kusile coal power station, which will generate 4800MW.
Mr Mabuyakhulu said private investors were committing R400m to the project during 2011-12, R3,8bn would be invested 2012-16, while the second phase was expected to attract R5bn of investment from 2016-20. A further R2bn of private investment from local and international firms was expected over the period.
The project was expected to create more than 4000 sustainable jobs from 2016.
German, South African and South Korean firms would be involved in the planning, technology transfer and investment for the project, a spokesman for the department of economic development and tourism said.
Author: Warehouse Finder
