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KZN South Coast: Renewable Energy Hub

Renu Holdings (Pty) Ltd-  Halfway Group - KZN South Coast
Renu Holdings (Pty) Ltd-  Halfway Group - KZN South Coast

Image credit: Renu Holdings (Pty) Ltd

3 Reasons Why the KZN South Coast is the Destination for Renewable Energy Investment

“By harnessing the potential of renewable energy, Africa’s young, dynamically growing economies can ensure energy supply is generated in line with international climate goals.” – The Renewable Energy Transition in Africa

The climate crisis and increasing demand for energy across the continent are supporting the shift towards renewable energy production. Solar power generation, in particular, continues to grow in demand, bringing significant investment opportunities in manufacturing and production. South Coast Tourism & Investment Enterprise (SCTIE) on the KZN South Coast is outlining why solar power investment is particularly attractive in this region.

“Embracing renewable energy production not only meets international climate goals, but supports the conservation efforts on the KZN South Coast and promotion of our incredible tourism assets. We intend to become energy secure, which will reduce the costs of businesses having to invest heavily in their energy sources to stop their business production downtime,” said Deborah Ludick Manager, Acting CEO of South Coast Tourism & Investment Enterprise (SCTIE).

“Reports indicate that, in the second quarter of 2023, some $1.7 billion [around R32 billion] worth of solar power products were imported into the country, showing the spike in demand. Government’s tax incentive for businesses, allowing them to claim a 125% deduction on renewable energy projects until 28 February 2025, further supports the sector. We believe that the KZN South Coast is primed for investment in this sector, and we’re doing what we can to facilitate this.”

Ludick said a feasibility study had been undertaken as part of the Eastern Seaboard development plans for the Ugu District Municipality, which considered different energy types – onshore and offshore wind, hydroelectric, biofuels and solar - which are available to investors, enabling them to decide which option would best suit their needs.

1. The KZN South Coast is ideally located to support a range of renewable energy options

The region has abundant natural resources that support renewable energy production. The region boasts a year-round subtropical climate with abundant sunny weather making solar energy farms one of the viable investment options. The coastal location also supports wind energy projects as a result of on and offshore wind. The KZN South Coast also forms part of the Eastern Seaboard Development, a government initiative to unlock the economic potential of the region, giving national priority and focused support to this area.

2. The KZN South Coast has available and affordable land

There is ample real estate available on the KZN South Coast which is much more affordable than other coastal regions in South Africa. This provides the necessary space for the establishment of solar farms, manufacturing facilities, and more related to solar energy production.

3. The KZN South Coast has the Ugu District One Stop Shop

Investment in the region is supported by the Ugu District One Stop Shop which creates a welcoming environment for investors by assisting in fast-tracking projects and reducing government red tape. The Ugu District One Stop Shop assists in regulatory matters such as company registrations, visa and EIA applications, as well as sourcing funding. Through the One Stop Shop, potential investors in renewable energy will enjoy the support needed to benefit from this lucrative sector.  

To find out more about these and more investment opportunities, get in touch with SCTIE, the KZN South Coast’s One-Stop Shop for investment. Contact SCTIE on 039 682 7944, email oss@sctie.co.za or visit www.investkznsouthcoast.co.za.

Keep updated on the KZN South Coast by following South Coast Tourism and Investment Enterprise - SCTIE page on Facebook; South Coast Tourism and Investment Enterprise on YouTube; @infosouthcoast on Twitter or Instagram; and South Coast Tourism and Investment Enterprise on LinkedIn. Watch why the KZN South Coast is a top investment destination here.

Follow the hashtags #uncover #uncoverkznsouthcoast #uncoverpotential #kznsouthcoast! And click here to check out previous SCTIE press releases.

To purchase goods sold or secure services from these and other Buy Local businesses visit the online directory on the SCTIE website. To make orders from Buy Local members or to join the campaign, visit the Buy Local tag at www.investkznsouthcoast.co.za or click here for a membership form.

Article Courtesy of www.oliviajones.co.za