Funding needed to expand renewable energy sector??
10 May 2011
Securing funding for renewable energy projects is vital if the sector is to expand in South Africa (SA), it has been claimed.
??The ability to attract finance and improve grid infrastructure are key in the big-scale deployment of renewable energy technologies, the sector said.??
This was in reaction to a move by various governments to approve a United Nations (UN) report projecting that renewable energies, such as solar, wind or hydro power, could supply almost 80 per cent of global demand by 2050.??
SA is due to host a global climate change conference in Durban in December.??
Mark Tanton, managing director of wind development company Red Cap, told Business Day that the report confirmed a widely-held view that renewable energy was capable of meeting demand.??
However, he added the industry would face technical and logistical difficulties, which included SA’s grid infrastructure. Rapid deployment of renewable energy required investment in grid infrastructure.