Home Economy South Africa needs R1trn to grow energy capacity

South Africa needs R1trn to grow energy capacity

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The Minister of Energy Jeff Radebe stated that South Africa needed to invest R1 trillion during the next 11 years to grow the energy production capacity.

Radebe was speaking at the DLO Africa Power Roundtable which gathered the officials, investors, and stakeholders of the region.

“It is clear that Eskom alone cannot meet our power capacity requirements, because we estimate that the capacity extension under the IRP (integrated resource plan) will cost in excess of R1trn in the period up to 2030, including the new power plants, plus the requisite transmission and distribution infrastructure,” Radebe SAID.

During his speech, the minister also said that municipalities needed to relaunch old and non-functioning power stations.

Radebe said that the amendment of Schedule 2 of the Electricity Regulation Act was aimed at enabling municipal and distributed generation.

“Cabinet approval of the IRP for South Africa will define a tangible plan for energy security that also secures the participation of Independent Power Producers side by side with Eskom and municipalities.”

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