Page 29 - Vol 33 Issue 34 2021

Commentary energy

agency downgrades, making investing in South industries. The more people have jobs, the more South Africa will remain a competitive des ti-
Africa a riskier bet. Turning to a more renewable money they’re likely to spend. na tion to invest in renewables and Green Eco-
energy future can propel South Africa forward. The question, of course, remains as to whether no my developments, with the caveat that this is
At a macroeconomic level, renewable energy the renewable energy sector will be as people- backed by the political will to break free of non-
deployment has near boundless potential to intensive, namely - will the coal jobs lost be re newable sources, implement sound (green)
stimulate the economy and attract further replaced? Either way, replacing non-renewable energy policies, and establish a business-friendly
investment. Establishing new renewable energy energy sources with renewable ones requires environment for the industry.
projects across the country will involve industries transparency from our political leaders. A green
outside of the energy sector, in terms of the transition needs to be guided by thorough Patrick Grant McLennan is a Transfer pricing eco no­
construction of infrastructure, the supply of basic planning and prospecting. Readying tertiary mist and Associate Director at BDO South Africa.
necessities and access to retail, housing, schooling education institutions and the labour force for this
as well as a variety of other secondary and tertiary transition needs to be accompanied with private
products and services. While at a micro-economic sector support – meaning the public sector must
level, we’ll see the knock-on effect of increased collaborate with the private sector, and if needed,
consumer spending across various sectors and design business incentives to invest.

Renewable energy
for a sustainable future

We seek out energy around the globe:
in the power of wind and water, in the heat of the sun,
in the depths of the earth and, above all, in people .

AFRICAN POWER Mining & Oil Review Vol33 Issue 34 2021 | 29