Investing in the economy


Components for renewable energy    

The Integrated Resource Plan for electricity generation in South Africa was promulgated in May 2011, and foresees the creation of 9 200MW of new wind power generation capacity, plus 8 400MW of photo-voltaic and 1 000MW of concentrated solar power generation capacity over the period to 2030.

A key focus of the Metals SBU is the provision of finance for the localisation of the manufacture of components for this programme. During the year under review, Metals committed over R300 million to two greenfield projects, which will create over 300 new permanent jobs and demonstrate strong developmental impact.

The first wind tower manufacturing facility in the country will be located in the Coega IDZ in the Eastern Cape. This will not only promote industrialisation in an economically depressed region of the country, but is also strategically close to the target wind farm projects along the East Coast. The IDC has partnered with a leading local BEE engineering firm in developing the project.

A photovoltaic module manufacturing plant will also be established at the East London IDZ. The project is being developed in partnership with a Spanish investor, with a 28% equity stake held by a local B-BEEE group. At peak production, the plant will be capable of producing 85MW of generating capacity per annum. With over 12 years' experience, the foreign investor brings invaluable expertise, technology and know-how and has agreed to a rigorous skills transfer timetable.

Building partnerships

The IDC’s capacity-building interventions in South Africa and elsewhere in Africa are motivated by the benefits potentially emanating from assisting our clients and DFI business partners in developing their requisite skills and knowledge bases.

Investing in communities

The IDC has adopted a framework to guide the development of rural areas and an important part of the corporation’s leadership in industrial development strategy focuses on support for priority sectors identified in the New Growth Path and Industrial Policy Action Plan.

R13.1 billion
R16.0 billion
18 922
3 950
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