Morocco topples SA As Leading Investment Destination for Renewables in Africa

Morocco-topples-SA-As-Leading-Investment-Destination-for-Renewables-in-Africa

Fieldstone Africa, the leading independent investment bank in the energy and infrastructure sector, issued the October edition of the Fieldstone Africa Renewables Index (FARI).

FARI, which is released three times a year, ranks African countries in terms of their current suitability to invest and achieve successful renewable projects.

The latest FARI (Fieldstone Africa Renewables Index) shows Morocco leads African countries in a category referred to as the Big 5, markets most suitable for investment in renewable projects. Morocco has enormous ambition, aiming to teach 42% renewable generation by 2020, with billions of dollars in expected investments, and replacing South Africa.

Then come Uganda and its superior solar and hydro resources alongside “a smart interplay” of regulatory and funding leading to the commissioning of the first solar plant (10MW). Egypt is third, ambitious but slowed by contractual issues despite confidence apparently restored.

South Africa position is uncertain as the country’s power utility, Eskom, has refused power purchase agreements from governement approved providers. The program is effectively frozen.

source Gauteng Business News