Tags: Africa | Green | Energy

Africa's Green Prosperity

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Monday, 25 Aug 2014 04:14 PM Current | Bio | Archive

Africa is experiencing an exciting era of growth and development. Increasing foreign investment coupled with local initiatives has seen socioeconomic activity turn bullish. Emphasis on sustainability, green development and innovation take center stage in the energy and building sectors.

Nelson Mandela Bay, home to South Africa’s largest industrial development zone (Coega IDZ) is well on its way to becoming the country and continent’s hotspot for green energy components manufacturing and technologies.

In an article released by Cape Business News, the Coega IDZ secured close to R1bn ($93 million) in foreign investment for green energy component manufacturing in South Africa in its 2013/14 financial year. The article says, “Investments included a R660m ($61 million) solar module manufacturing facility, and a R127m ($11 million) renewable energy components manufacturing facility owned by Powerway/Sungrow which will commence with production within the year.” The article continues, “The R300m ($28 million) DCD Wind Towers production facility also went online this year, and the plant will have an estimated annual production output of 110 and 120 wind towers.”

Dr Ayanda Vilakazi, head of marketing and communications said “The new SEZ Act has introduced significant tax benefits, a reduction of red tape and labor productivity-enhancing mechanisms to investors, which will make the Coega IDZ attractive as a location for investment. This further supported by Nelson Mandela Bay’s long-standing position as an industrial and manufacturing economic hub and, the availability of deep-water sea port, and a commitment towards green energy research by our local university.  “The sum of these parts provide a unique arrangement of value propositions which is driving the attraction for foreign and local investment in the Coega IDZ,” concluded Dr. Vilakazi.

Ahead of the Green Building Council of South Africa’s (GBCSA) convention in September we consider some of South Africa’s most innovative and forward thinking experts.

In another Cape Business News article, trend analyst Dion Chang who will be speaking at the convention says “In Africa especially, innovation hinges on solving problems —which is very different from a developed world perspective — and time and time again, I have seen innovative ideas that come out of Africa which leapfrog developed world ideas, trends and use of technology. The most unexpected innovations are coming out of Africa.”

Future development is sure to showcase and set the standard for a unique African urban environment.

Matthew Klynsmith earned a business administration diploma at CTI in Cape Town, South Africa. He now works at Strategic Options as an associate partner. To read more reports from Matthew Klynsmith, Go Here Now.
 

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MatthewKlynsmith
Emphasis on sustainability, green development and innovation take center stage in the energy and building sectors.
Africa, Green, Energy
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2014-14-25
Monday, 25 Aug 2014 04:14 PM
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