“Close to 400 industry jobs have already been lost just two months after at COP17 South African financial services group Investec and the European Investment Bank (EIB) had confirmed the establishment of a €100-million renewable energy fund to promote clean energy generation and energy efficiency initiatives in South Africa.
Local businesses involved in the renewable energy sector are in danger of going belly-up, because the Integrated Resource Plan (IRP2) allowed power producers bidding for renewable energy projects to mostly use imported components, said the Labour Federation and the Cape Chamber of Commerce.
These words were not even cold yet, and already 4 businesses in the Western Cape have shut down with 3 more facing closure by April this year.”
