Google is ”making sure the lights (and your Android phone) stays on, by having invested a cool $12 million (R103 million) in the Jasper Power Project, a 96 megawatt solar photovoltaic plant in the Northern Cape province of South Africa,” reports memeburn.com.
That’s great news considering that, once complete, Jasper will be one of the continent’s largest solar installations and will generate enough electricity to power around 30,000 South African homes.
The Jasper Power Project, which is set to be constructed by a consortium including SolarReserve (a company that currently accounts for a 20% share of the nation’s solar power market), will also create approximately 600 construction jobs and 100 permanent operational jobs, writes Energy Matters.
SA’s shifting away from fossil fuels in favour of renewable energy sources
While South Africa primarily uses fossil fuels to create energy, there’s huge potential for renewable energy based on the country’s abundant wind and solar resources. And that’s exactly where government’s focusing.
Just last month, the National Energy Regulator of SA (Nersa) granted Eskom a licence for its Sere wind farm in the Western Cape, reports FSP Invest.
And now there’s the Jasper Power Project.
Both will go a long way in helping the country achieve its ambitious goal of generating 18 gigawatts of renewable energy by 2030 – almost a quarter of the country’s current national grid usage of 44 gigawatts.
Not only is this a great move from an energy point of view, it’s great news from an investment perspective too!
After all, you can tap into this trend by investing in construction companies that are making money from these projects: Companies like Basil Read and Ellies, explains Francois Joubert, analyst behind the Resource and Scarcity Report.