South African Investment Firm Finds Incentives Necessary for Renewable Energy
Engineering News Online reports Ivestec of South Africa will invest directly into renewable and conventional power generation projects. The company is currently investing in a A$380 million wind farm in Australia, is a 50% partner for a wind project in Greece, and is contemplating a 10-30MW wind project in South Africa. The company’s spokesperson indicated the projects in Australia and Greece would not have been viable if it weren’t for the incentives that were offered. South Africa has a renewable energy target of 10,000GWh by 2012 from renewable energy sources.