According to FDI Intelligence 2022, the Renewable Energy sector in the Western Cape has received the second-highest level of foreign direct investment, by CAPEX, when compared to other sectors, over the last 10 years.
Through 11 projects between 2011 and 2021, this sector attracted R17,99 billion in FDI, coming second to Communications on the same measure. It was ahead of the Business Services sector, which came in third.
This data confirms the huge potential of the Western Cape’s Green Economy, and how a continued focus on strengthening our energy resilience will not only relieve the pressure created by load-shedding, but also contribute to more investment and economic growth, while driving a clean energy transition. That is precisely why we need to create an enabling environment for the private sector at every turn so that they can meet the growing demand for renewable energy.
Wesgro, Cape Town and the Western Cape’s Official Tourism, Trade and Investment Promotion Agency, is also assisting investors to land their Green Economy projects in the Western Cape.
