Official market forecast for South Africa’s Wind Energy Industry released
2015’s official Wind Energy Forecast for the South African market was released today detailing the key market trends in 2015 for wind energy in the country. Leading experts from Vestas, Siemens, Barclays, and Green Cape discussed key questions facing this year’s wind energy market inside the 8 page report.
This January, experts from across the industry were asked five key questions, focused on establishing what the main concerns were for the experts in relation to continuing the upward trajectory of South African Wind Energy Investment. The experts concluded there was a weak link in funding the necessary transmission upgrades and a lack of grid readiness and that this was inhibiting an otherwise excellent energy development programme. Concerns were also raised over the lack of commitment the government expressed in terms of “set in stone” long term support for the renewable energy mix.
James Anderson of report authors Wind Energy Update said: “South African wind energy continues to establish itself this year as the Department of Energy and IPP office select preferred bidders for the latest round of the hugely successful Renewable Energy Independent Power Producers Programme (REIPPP). The experts quoted in the report predict that continuing constraints to grid capacity and a lack of cohesion from government agencies may inhibit progress but are optimistic for the future of the industry.”
All those interviewed agreed that there needs to be improved incentives for local content and current technology to avoid disenchantment with the REIPPP programme. Despite the setbacks, all four expressed a strong sense of optimism and pride over the way the county has developed a substantial renewable energy portfolio in less than half a decade. Bhavtik Vallabhjee senior investment banker at Barclays Bank states that;
I believe that South Africa will continue to remain the dominant country for wind and other renewables in the foreseeable future in Africa,” Bhavtik Vallabhjee (Barclays)
This is evident in the fact that South Africa currently has 800MW in operational capacity and is rapidly increasing with three more projects due to enter operation this year.
Access to the report has been made public by Wind Energy Update and is now available to read and evaluate.
Read the official market report here: http://1.windenergyupdate.com/LP=1042
For more information please contact: James Saward-Anderson on james@windenergyupdate.com
