South Africa’s economic stimulus package announced by President Cyril Ramaphosa, includes the filing requirement and the first carbon tax payment which was due by 31 July 2020 will be delayed to 31 October 2020.
Whilst the delay is welcomed, it demonstrates that industry emitting high levels of carbon cannot sit and wait out the COVID-19 pandemic in order to implement carbon saving solutions if they are to be sustainable and relevant going forward.
An example of this is Sasol’s RFI released to the market for bidders to pitch for their share of 600MW of renewable electricity capacity based on the Sasol Integrated Resource Plan (IRP 2019) released late 2019. The plan and the RFI are focused on wind and solar photovoltaic (PV) technologies.
This is a promising green shoot in the current economic environment and we expect to see more of such project which also allow businesses to attract tax incentives and capital.
There are a number of funders in the market offering debt and equity to bankable and prepared project owners.
Uzenzele has for the past 5 years increasingly been involved in the renewables sector with a strong network of funders, technical and engineering professional partners providing access to industry stakeholders to its clients.