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Coega Energy Sector - published 7 Feb 2019

Coega Energy Sector - a core for investment opportunities in South Africa

 

In appreciation of the interconnectedness between the Mining and Energy sector, Minister of Energy- Jeff Radebe highlighted key pointers to consider in relation to the symbiotic relationship of the two sectors during the 25th Mining Indaba conference.

“The mining industry is generally energy intensive. Energy costs are rising affecting profitability of mining companies. This call for action demonstrates that the mining sector is intricately and inextricably linked to the energy sector. It is now more important than ever that the two sectors conduct more discussions to ensure that as the energy sector goes through a just energy transition and transformation. The mining sector needs to be kept abreast of these changes” the Energy Minister expressed.

 This year the conference was expected to explore measures of championing Africa`s sustainable economic growth, which was complimented by President Cyril Ramaphosa`s campaign to raise $100 billion in the next five years. This was also an opportunity to appreciate South Africa as a competitive and investor friendly destination.

“The African continent is home to abundant mineral resources. These minerals offer an opportunity for industrialization of the continent, reduction of poverty, and contribution to economic development,” the Minister continued.

“In light of the above mentioned potential investment opportunities presented to South Africa, the Coega SEZ`s Energy sector embraces such developments with enthusiasm, appreciating that the transformation within the sector is paramount to CDC`s central role in advancing readiness for the realization of various energy projects,” says Sandisiwe Ncemane, CDC Energy Sector Manager.

Reflecting back on the announcement of Coega SEZ being selected to host the gas to power plant, CDC spokesperson – Dr Ayanda Vilakazi highlighted, “the organisation is certainly very pleased by the developments and welcomes the comments by the Minister that the Coega SEZ is one of the locations being considered for the investment. Our location has over the years done the groundwork in terms of site readiness and has afforded an attractive site that would assist in playing a critical role in stimulating the EC Economy.”

On the Gas to Power Programme, the Department of Energy have also identified the Coega SEZ as one of the preferred locations for a Power plant. 

“The announcement by the department is a clear indication of the SEZ`s meticulously laid foundation for its readiness for energy projects since the early 2000`s,” highlights Ms Ncemance.

With appreciation of the gas to power project, CDC is also home to other successful energy projects worth over 4 billion. These include Dedisa Power Peaking plantR3.5 billion investment, currently utilizing diesel but has been designed to easily convert to gas. The DCD Wind Towers - R310 million investment. Complementing these projects is also a R1 million rand 48KW Solar Plant, which feeds power to the CDC building. Lastly, a R9 million lay down area for normal and abnormal cargo, including wind turbines infrastructure and/or components; 12ha lay down area in Zone 1 of the Coega SEZ located on the boundary between the Port of Ngqura and the Coega SEZ and has also played an integral role in the regional connection of wind power.

 

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