South Africa's "power shortage" has forced energy reform and the photovoltaic industry is booming
South Africa's "power shortage" has forced energy reform and the photovoltaic industry is booming
On February 13th, South Africa's President, vladimir radmanovic fu delivered his state of the union address in Cape Town, is one of the important content in the state of the union address, how to solve the current South Africa "electricity crisis" in the face, said: constant power shortages stagnation has led to our country economic development, the government is confident to solve this problem, will by encouraging measures of the development of renewable energy, Alleviate the problem of insufficient power supply. Meanwhile, the government will also take measures to help the debt crisis of the national Electricity company of South Africa as soon as possible.
South Africa has a long history of electricity shortages, the biggest of which is The State electricity company, which generates more than 90% of the country's electricity. In recent years, due to frequent fraud cases and poor management, the company's debt has ballooned to 440 billion rand, which is equivalent to 15% of South Africa's GDP. Heavy debt makes it difficult to get the operation and maintenance funds in place, which makes the aging generating sets prone to break down. At the same time, frequent meteorological disasters also easily paralyze the generating sets. All kinds of reasons lead to the increasingly serious "electricity shortage" in South Africa and the frequent occurrence of "power rationing", which greatly drags down the economic development of South Africa.
In order to solve the "electricity shortage" problem and help the company tide over the difficult situation, in October 2019, the South African Parliament for the national Electricity company of South Africa emergency allocation of 59 billion rand bailout funds. To better address the electricity problem in South Africa, on 1 April 2019, THE BRICS Bank and the South African Development Bank signed a us $300 million non-sovereign guaranteed loan aimed at promoting greenhouse gas emission reduction and the development of the renewable energy sector in South Africa. The financing will be used for wind, photovoltaic, biomass and other renewable energy projects designated by the South African Development Bank. On the same day, the BRICS Bank signed a US $180 million sovereign guaranteed loan agreement with The South African state Electricity Company (Eskom) for the construction of renewable energy transmission and distribution projects by Eskom over the next 15 years.
In October 2019 the South African Department of Energy (DoE) released a new ten-year energy strategy, the Integrated Resource Plan (IRP), which will include a diverse mix of electricity extracted from coal, solar, wind, hydro and nuclear power. In November 2019, the South African government announced a comprehensive plan to deal with the plight of the South African state Electricity Company, including changing the monopoly position of the company and breaking it up and reorganizing it into power generation, transmission and distribution businesses. In addition, the company will also purchase electricity from the public to enrich the supply of electricity. The participation of private companies is essential, and the Energy Ministry promises to do its best to remove obstacles. South Africa's long-term plan is to reach a target of 5.67GW of solar installations by 2030, IRENA said. The South African government's determination to develop the economy will force an accelerated transformation of the electricity system, which will also bring great potential to the photovoltaic installed market (News from Guangfu,bjx)
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