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

Musk’s multibillion hostile Twitter takeover – the timeline

As billionaire entrepreneur Elon Musk buys Twitter for US$44bn, we draw up a timeline, from the buying of shares to the critical tweets and unsolicited bid

Sustainable moves businesses can make to win customers, IBM

With half of consumers saying environmental sustainability is more important today than a year ago, businesses should up their eco action, says IBM report

Banks and consultancies top workplaces to grow career in UK

Financial and professional services firms rank highest in LinkedIn Top 25 best workplaces list – from Barclays, Lloyds and HSBC, to PwC, Deloitte and EY

Top 10 women in technology in Europe

Leadership & Strategy

The value of ESG links sustainability to business returns


Top 10 European football clubs by revenue 2022 – Deloitte

Corporate Finance