Can Africa Unlock its Solar Potential?
Which country boasts the world’s fastest growing clean energy investment? Germany? No. United States? Think again.
Jumping from a few hundred million dollars to $5.7 billion, South Africa recorded last year the world’s highest growth in renewable energy investment, according to the U.N. Environment Program(UNEP).
The spectacular surge, led largely by investments in solar power projects, comes as South Africa moves to reduce its dependency on coal, which accounts for around 86% of its energy. To achieve that, the country has set the ambitious target of generating 18 gigawatts (GW) of clean energy by 2030.
As a result, a series of investments have trickled into the country, including Google’s first foray into Africa’s solar power market. The internet giant, which has spent more than $1 billion in renewable energy projects in the United States and Europe in recent years, announced in late May its decision to back the Jasper Power Project, a 96 MW solar photovoltaic (PV) plant in Northern Cape, with a $12 million investment.
read more here: (CNN)