Renewable energy gets a boost in KZN
THE KWAZULU-Natal provincial government, along with the Durban municipality, have teamed up with international renewable energy institutions to create a 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 Germany, in partnership with Durban University, Anglo American Platinum and South Korean technology partners and investors.
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 South Africa until 2015 due to stalled spending on power stations and rising demand. The government is constantly seeking projects to accelerate renewable energy investment.
The proposed project, which is going 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. Private investors are committing R400m to the project during 2011-12, R3,8bn would be invested 2012-16, while the second phase is expected to attract R5bn of investment from 2016-20. A further R2bn of private investment from local and international firms is expected over the period. German, South African, and South Korean firms would be involved in the planning, technology transfer and investment for the project.