WiseEnergy, a merchant bank focused on the renewable energy sector, will manage up to 500MW of solar and wind power projects in South Africa on behalf of ix:Africa.
Already present in the UK and Italy, WiseEnergy Africa is working with the ix:Africa fund and the South African government to review the potential for major solar and wind projects in the country, ahead of the next round of government project auctions in March 2012.
South Africa has taken quite a large step into renewable energy these last few months. Last month, the country played host to the 17th annual Conference of the Parties to the United Nations Framework Convention on Climate Change and at the beginning of December, it received support from the European Investment Bank and Investec with an investment of €100 million for the promotion of clean energy generation and energy efficiency initiatives in South Africa.
WiseEnergy Africa will be offering investors seeking to enter the South African market a full suite of services, from project design and consent, to management of construction and operation of the plant.
“Africa is one of the most promising markets for the development of renewable energy projects and South Africa acts as a true gateway”, said Aldo Beolchini, director at WiseEnergy. “In emerging nations such as South Africa, there is an enormous appetite for energy and a requirement to double generation capacity in a very short space of time. Only renewable energy projects can meet this demand. Last year, Italy and Germany alone installed solar power equivalent to ten new nuclear power plants. Combined with high solar radiation and a willing Government, South Africa’s hunger for the swift development of new generation capacity makes it an attractive, low risk market for renewable energy investment.”