Budget SpeechFinancial Planning

69bn reasons to consider renewable energy

By: James McKay, spokesperson for Energy Partners.

Finance Minister Tito Mboweni, yesterday announced in his 2019 National Budget Speech that the Department of Energy continues to support the renewable energy market in order to transition to a low-carbon economy. As part of the National Budget he has committed to procuring 14 725 megawatts (MW) of power from renewable energy sources to ensure South Africa has an optimal energy mix.

According to James McKay, spokesperson for Energy Partners – part of the PSG group of companies – while this commitment is a step in the right direction, more needs to be done by Government to ensure that South Africa’s energy mix incorporates more renewable sources.

“Considering how the country’s current energy challenges have negatively impacted the economy, as well as Government’s opportunity to save money via alternative energy sources, it is crucial to reassess South Africa’s energy mix. Following the recent news that Eskom is “technically insolvent” and that the state-owned-entity might cease to exist at the current trajectory by April 2019, the quicker adoption of renewable energy sources is fast becoming vital to the sustainability of the national economy. The future of our economy depends on it.”

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