Cape Town – Rheinmetall Denel Munition (RDM) pledged to invest R251 million in the renewable energy sector in South Africa during the recently held fifth South Africa Investment Conference (SAIC).
RDM aims to become an energy supplier for South Africa and the export market, focusing on localised solar farms, green hydrogen export, and the production of mobile green hydrogen plants for various applications.
They have already started building a 5 MW solar power plant in the Western Cape, which will be completed by the end of 2023.
The company’s goal is to provide an alternative to the grid and address load shedding.
President Cyril Ramaphosa announced that his target of attracting R1.2 trillion in investments over five years had been surpassed, with more than R1.5 trillion raised or pledged during that time. The pledges made at the fifth SAIC amounted to R332 billion, and the new goal is to attract investments of R2 trillion by 2028.
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Various companies made pledges in different sectors. Equinix pledged R3.8 billion to develop new data centres in South Africa’s digital economy, while Teraco invested an additional R2 billion to expand their data center capacity and develop renewable energy projects. Alpha Manufacturing pledged R2 billion for recycling, packaging, and manufacturing facilities, and Defy invested R288 million in white goods manufacturing facilities. Several companies also committed to investing in Special Economic Zones (SEZ).
Vodacom pledged an additional R60 billion over the next five years in the global business services, ICT, and digital services categories.
RDM aims to become an energy partner for South Africa and help resolve the energy crisis by investing in renewable energy and infrastructure and developing local talent.
The company previously launched a green hydrogen production, storage, and transportation solution called GESS (green energy sustainable solutions). This modular and self-sustaining unit uses solar PV panels, lithium-ion batteries, and hydrogen fuel cell technology to provide around 230 kWh of electrical power to remote and isolated locations.
Since its formation in 2008, RDM has made significant investments in South Africa, including R1 billion in infrastructure, R1.5 billion in technology and product development, R200 million in training and bursaries, R100 million in skills development levies, and R400 million in third-party income tax.
The company aims to become a world leader in green hydrogen production and supply as part of its overall investment in the country.
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