South Africa’s Public Investment Corporation ploughs capital into solar projects

By mahlokoane percy ngwato

Follow @AfricaBizReview on Twitter.

South Africa’s state-owned Public Investment Corporation (PIC) is planning to invest 22 billion rand in two solar power plants, based in Xina and Ilangalethu, in an effort to boost renewable energy output.

Combined, the two solar energy plants will have an output of up to 200 megawatts, which can potentially power up to 30,000 homes.

The PIC was established in 1911 and is completely owned by the South African government. It is the largest money manager on the continent and typically funds various state supported pensions alongside unemployment insurance. 

This investment comes at a time when the nation is suffering rolling blackouts and power outages as public energy provider ESKOM battles against the clock to maintain and expand its facilities to meet growing demand.


ESKOM, PetroSA, and Sunbird enter into long term gas supply deal
A dark day for ESKOM: power outages threaten South Africa’s economy
ESKOM receives government windfall to alleviate revenue struggles

The challenge of meeting the ever increasing demand for energy in South Africa becomes all the more pressing when set against the backdrop of blackouts and businesses failing through lack of power. It is becoming the case that adopting renewable energy sources will become both necessary and profitable. 


Featured Articles

Meet the COO: Brook Sims of MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Best business books to improve leadership strategy

From strategic guides to inspiring CEO memoirs, these new books dish up plenty of principles, strategies, and anecdotes to help you become a better leader

Shoplazza founder and CEO Jeff Li, ex Baidu, on leadership

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

The office shifts to new way of working – workplace special

Leadership & Strategy

Trailblazer: Clorox's DEI leader Shanique Bonelli-Moore


The inspirational CEO story – Dean Forbes of Forterro

Leadership & Strategy